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Global Marine Construction Market Size, Regional Outlook, Application Analysis, Competitive Insights And Forecasts, 2014 – 2020

  • Published Date: Feb-18
  • 69 Pages
  • Category: Industrial Goods & Services
  • Format: Email PDF + Excel
  • Language: ENG
The global marine auxiliary engine market research study identifies Caterpillar, Cummins, Doosan Infracore, Wärtsilä, and Yanmar as the leading players in the global marine auxiliary engine market. A comprehensive analysis of this market is also presented by end-users (leisure and commercial) and by geography (the Americas, APAC, and EMEA). Overview of the global marine auxiliary engine market The global marine auxiliary engine market is anticipated to grow at a steady rate and post a CAGR of close to 3% during the forecast period. The growth in liquefied natural gas (LNG) carriers will drive the demand for the dual-fuel auxiliary engine, which in turn, will accelerate the growth prospects for the global marine auxiliary engine market until the end of 2021. According to the global marine auxiliary engine market forecast, one of the major factors responsible for the growth in LNG market is the growing population that fuels the consumption of energy. Also, with the growing number of countries that are involved in exporting and importing LNG, the volume of the LNG trade is expected to surge in the coming years. This increase in LNG trade will increase the dependence of various economies on the shipbuilding industries and commercial ships, further fueling the demand for marine auxiliary engines. The waste heat recovery (WHR) system uses the energy exhausted from marine engines to increase the fuel efficiency and also reduce the pollution through marine vessels. As a result, there will be an exponential increase in the integration of waste heat recovery system in vessels, which will be one of the major trends that gain traction in this market in the coming years. Competitive landscape and key vendors The global marine auxiliary engine market is moderately fragmented and highly competitive due to the presence of a large number of regional and international vendors across the globe. It has been observed that the regional or local vendors increasingly find it difficult to compete against the international vendors in terms of quality, features, functionalities, and services. The global marine auxiliary engine market outlook suggests that with the introduction of products with new and better features and technologies, the competitive environment in the market is expected to intensify during the coming years. Key vendors in this market are - • Caterpillar • Cummins • Doosan Infracore • Wärtsilä • Yanmar Other prominent vendors in the market include Volvo Penta, Daihatsu, SCANIA, Megatech Power, John Deere, Kubota, GE, MTU, Perkins, and Mitsubishi Heavy Industries. Segmentation by geography and analysis of the marine auxiliary engine market • Americas • APAC • EMEA According to Techanvio’s marine auxiliary engine industry analysis, in terms of geographical regions, APAC accounted for the majority market share during 2016 and will continue to dominate the market until the end of 2012. The shipbuilding industry in this region is witnessing an increase in the global demand for shipbuilding and its dependent products from various countries like South Korea, China, and Japan to support seaborne trade and selling of products and goods on a global level.