Transparency Market Research in its new report titled, “Marine Diesel Engines Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the marine diesel engines market. The TMR report anticipates that the rise in the need for the shipping industry to reduce carbon emissions will propel the marine diesel engines market during the forecast period i.e, 2018-2026. The shipping industry is focusing on the development of higher-efficient diesel engines, which use less diesel while providing more propulsion to the vessel. On the other hand, the recent downturn in the shipping and shipbuilding industry has hampered the market. Shipbuilding orders have declined along with the decrease in shipping rates. A recovery is expected during the forecast period; however, it would depend on several factors such as the price of crude oil and the economic growth rate of various countries, says the report.
The TMR report has split the global marine diesel engines market based on type, speed, vessel, and region. On the basis of type, the global marine diesel engines market is divided into 2-stroke engines and 4-stroke engines. 2-stroke engine is a commonly used type of engine despite the fact that it causes more pollution. This trend is expected to continue during the forecast period. The 4-stroke engine is mostly used for providing auxiliary power to vessels. On the basis of speed, the global marine diesel engines market is divided into low speed, medium speed, and high speed engines. Low speed engines are commonly used for recreational purposes, while medium speed engines are used commonly in inland waters. On the other hand, high speed engines are employed by the navy and for commercial purposes on the high seas.
Based on vessel, the global marine diesel engines market is classified into merchant, offshore, navy, and recreational vessels. Various types of merchant vessels include containers, tankers, bulk carriers, gas carriers, and roll-on/roll-off vessels. Offshore vessels include drilling rigs and ships, anchor handling vessels, offshore research vessels, floating production units, and platform supply vessels. Recreational vessels comprise cruise vessels, passenger ferries, and yachts. Navy vessels include warships, submarines, and other research vessels. From a regional perspective, the global marine diesel engines market is segregated into North America, Latin America, Europe, Asia Pacific and Middle East & Africa. Developed countries in North America and Latin America are the traditional markets for marine vessels; hence, these are also the traditional regions of the marine diesel engines market. However, demand for marine diesel engines is expected to be higher in emerging regions during the forecast period.
According to TMR report, the global marine diesel engines market is vast; many local and global companies operate in the market. Major companies operating in the market are profiled in this report to give a better competitive landscape and these include Yanmar Marine International B.V. (the Netherlands), John Deere (the U.S.), Wartsila (Finland), Mitsubishi Corporation (Japan), Caterpillar (the U.S.), Cummins Inc. (the U.S.), MAN SE (Germany), BMW AG (Germany), International Diesel Engines (the U.S.), and Daimler AG (Germany).
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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