Global Marine Diesel Engines Market Research Report, 2016 - 2024

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Marine Diesel Engines Industry Statistics,
Analysis Forecast To 2024
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Key Insights from Marine Diesel Engines Market

• Diesel engines are so far, the best fit to
  fulfill the demand for highly reliable,
  economical, and durable engines that power
  several kinds of vessels, generators, propulsion
  systems, and other auxiliary equipment.
• Fuel cost is a vital factor which can directly
  impact the trade profitability. However, the
  current price fluctuations are favorable for ship
  operators and are thus boosting marine diesel
  engines industry trends. According to Global
  Market Insights, marine diesel engines market is
  set to register a CAGR of 5 over the period of
  2016-2024.
• As per 2015s report presented by the UNCTAD,
  there has been a substantial increase in the
  seaborne trade (4) between 2012 to 2014, owing
  to the significant rise in dry bulk trade and the
  positive outlook toward Chinas economic
  development. China being one of the most
  progressive nations across the globe, has
  ambitious plans to strengthen its navy by
  introducing nuclear missiles carriers,
  submarines, and aircraft carriers.

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Continued...

• Also, the U.S. Navy increased its naval ships
  from 288 in 2014 to 308 by 2015. Such examples of
  increasing government spending toward deployment
  of navy ships for strengthening the security have
  displayed a positive impact on marine diesel
  engines market size.
• The global low speed marine diesel engines market
  is set to grow at a rate of 4 over the period of
  2016-2024. Growing demand for merchant vessels
  and cargo ships will further provide a positive
  thrust to overall marine diesel engines industry
  over the coming years.
• Merchant vessels basically include bulk carriers,
  roll on/roll off, container vessels, tankers, and
  gas carriers. Rise in seaborne trade with growing
  preference toward LNG have provided a significant
  impetus to marine diesel engines market from
  merchant vessels.

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Europe Marine Diesel Engines Market Size, By
Application, 2016 2024 (Mn)

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Major Companies in Marine Diesel Engines Market

• Rolls Royce
• Cummins Engines
• Caterpillar Inc.
• Wartsila Corporation
• GM Powertrain

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Regional Insights in Marine Diesel Engines
Market

• Accounting for more than 25 of Asia Pacific
  marine diesel engines industry share in 2016,
  China is showing promising growth prospects with
  its expanding shipbuilding and transport network.
  Growing import activities in this nation have
  augmented the import of marine diesel engines,
  which was worth more than USD 1.05 billion in
  2015. This escalating growth has prompted
  rigorous business activities to uplift the
  regional marine diesel engines market. For
  instance, in 2015, MAN Diesel Turbo penned a
  10-year contract with CSSC and CISC to start a
  production of low speed diesel engines in China.
• Europe marine diesel engines market led by
  Germany, has witnessed an increase in government
  spending on military ships and specialized ships.
  Germany accounted for 20 of the total industry
  share of Europe in 2016 and further aims to
  amplify its revenue share.

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