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The market size for marine diesel engines was estimated at USD 15.5 billion in 2022. During the projection period (2023 - 2030), the Marine Diesel Engine market industry is anticipated to increase from USD 16.22 billion in 2023 to USD 23.43 billion, registering a compound yearly growth rate (CAGR) of 5.70%. The primary market factors accelerating market growth are the excessive pace of global shipbuilding activity and the extraordinary rate of increase in average daily disposable income.
The global increase in the use of maritime transportation is driving the market CAGR for marine diesel engines. An internal combustion engine used in marine applications revolves while consuming either diesel or a combination of fuels. Despite being bigger and more complicated than a petrol engine, it runs more effectively. Hot compressed air and fuel are combined to create electricity. The crankshaft is propelled through connections by the controlled explosion that occurs afterwards. This power can be used for a huge variety of things, such as turning motors, propellers, and alternators to produce energy. The efficiency of diesel engines is being improved, and research and development projects to reduce carbon emissions are being funded by numerous businesses.
Additionally, sea transportation plays a significant role in international trade. The primary form of transport for international trade is shipping, and according to UNCTAD, almost 80% of the volume of exchange goods are shipped by sea, with rates that are significantly higher for the majority of developing countries. From 2022 to 2032, maritime is expected to keep growing at a moderate yearly rate. This means of transportation is less expensive and better suited for international trade than road, rail, and air transit. The growth of the global transport armada revealed similar trends. Due to the opening of repressed requests, stock building, and restocking, oceanic exchange resumed in 2021. The rapid spike in demand in 2021, following the grave circumstances brought on by the pandemic in 2020, led to a shortage of shipping capacity, containers, and equipment, compelling many shipowners to buy new or old modified vessels to close the supply-demand imbalance.
There has been a substantial increase in the mobility of online retail bargains due to people becoming more aware of the benefits of online buying. The expansion of trade is wonderful, but it is happening so quickly and on such a large scale that port operations and shipping services frequently can't keep up, leading to logistical bottlenecks. The entire industry is experiencing a shortage of equipment, containers, and transportation capacity. Retailers must remove supply chain concerns and logistical bottlenecks in order to retain more inventory on hand. E-commerce fulfilment is giving marine trade new business prospects in areas including shipping, warehousing, and distribution centres at seaports. In comparison to rail, aviation, and road transportation, maritime transportation is more practical and less expensive. This e-commerce boom trend has also hastened the digitalization of the marine industry. Because of this, it is projected that the development of e-commerce and online trade would boost demand for ships and maritime trade, providing a window of opportunity for the marine engines market to flourish. Consequently, this will fuel the Marine Diesel Engine market's growth.
Report Coverage
Global Marine Diesel Engine research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Marine Diesel Engine report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Marine Diesel Engine competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Marine Diesel Engine market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Marine Diesel Engine market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Marine Diesel Engine market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Cox Marine, STX Engine., Deere & Company, Cummins Inc., AGCO Power Inc., Yanmar Co Ltd., Honda Motor Co.. Ltd., Greaves Cotton Limited, Caterpillar, China Shipbuilding Industry Group Diesel Engine Co., Ltd. Japan Engine Corporation. Hyundai Heavy Industries Co. Ltd. and Kirlosker Oil Engines Ltd
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Marine Diesel Engine market based on the below-mentioned segments:
Global Marine Diesel Engine Market, By Type
Auxiliary
Propulsion
Global Marine Diesel Engine market, By Application
modern Cargo Ship
latest Cruise Ship
Others
Global Marine Diesel Engine Market, By Speed
Low-Speed
Medium-Speed
High-Speed
Global Marine Diesel Engine market, Regional Analysis
The global increase in the use of maritime transportation is driving the market CAGR for marine diesel engines. An internal combustion engine used in marine applications revolves while consuming either diesel or a combination of fuels. Despite being bigger and more complicated than a petrol engine, it runs more effectively. Hot compressed air and fuel are combined to create electricity. The crankshaft is propelled through connections by the controlled explosion that occurs afterwards. This power can be used for a huge variety of things, such as turning motors, propellers, and alternators to produce energy. The efficiency of diesel engines is being improved, and research and development projects to reduce carbon emissions are being funded by numerous businesses.
Additionally, sea transportation plays a significant role in international trade. The primary form of transport for international trade is shipping, and according to UNCTAD, almost 80% of the volume of exchange goods are shipped by sea, with rates that are significantly higher for the majority of developing countries. From 2022 to 2032, maritime is expected to keep growing at a moderate yearly rate. This means of transportation is less expensive and better suited for international trade than road, rail, and air transit. The growth of the global transport armada revealed similar trends. Due to the opening of repressed requests, stock building, and restocking, oceanic exchange resumed in 2021. The rapid spike in demand in 2021, following the grave circumstances brought on by the pandemic in 2020, led to a shortage of shipping capacity, containers, and equipment, compelling many shipowners to buy new or old modified vessels to close the supply-demand imbalance.
There has been a substantial increase in the mobility of online retail bargains due to people becoming more aware of the benefits of online buying. The expansion of trade is wonderful, but it is happening so quickly and on such a large scale that port operations and shipping services frequently can't keep up, leading to logistical bottlenecks. The entire industry is experiencing a shortage of equipment, containers, and transportation capacity. Retailers must remove supply chain concerns and logistical bottlenecks in order to retain more inventory on hand. E-commerce fulfilment is giving marine trade new business prospects in areas including shipping, warehousing, and distribution centres at seaports. In comparison to rail, aviation, and road transportation, maritime transportation is more practical and less expensive. This e-commerce boom trend has also hastened the digitalization of the marine industry. Because of this, it is projected that the development of e-commerce and online trade would boost demand for ships and maritime trade, providing a window of opportunity for the marine engines market to flourish. Consequently, this will fuel the Marine Diesel Engine market's growth.
Report Coverage
Global Marine Diesel Engine research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Marine Diesel Engine report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Marine Diesel Engine competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Marine Diesel Engine market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Cox Marine, STX Engine., Deere & Company, Cummins Inc., AGCO Power Inc., Yanmar Co Ltd., Honda Motor Co.. Ltd., Greaves Cotton Limited, Caterpillar, China Shipbuilding Industry Group Diesel Engine Co., Ltd. Japan Engine Corporation. Hyundai Heavy Industries Co. Ltd. and Kirlosker Oil Engines Ltd |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Marine Diesel Engine Market from 2021 to 2030.
- Market Forecast for Marine Diesel Engine Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Marine Diesel Engine competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Marine Diesel Engine
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Marine Diesel Engine market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Marine Diesel Engine market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Cox Marine, STX Engine., Deere & Company, Cummins Inc., AGCO Power Inc., Yanmar Co Ltd., Honda Motor Co.. Ltd., Greaves Cotton Limited, Caterpillar, China Shipbuilding Industry Group Diesel Engine Co., Ltd. Japan Engine Corporation. Hyundai Heavy Industries Co. Ltd. and Kirlosker Oil Engines Ltd
Primary Target Market
- Market Players of Marine Diesel Engine
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Marine Diesel Engine market based on the below-mentioned segments:
Global Marine Diesel Engine Market, By Type
Auxiliary
Propulsion
Global Marine Diesel Engine market, By Application
modern Cargo Ship
latest Cruise Ship
Others
Global Marine Diesel Engine Market, By Speed
Low-Speed
Medium-Speed
High-Speed
Global Marine Diesel Engine market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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