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Automotive

Marine Auxiliary Engine Demand is Estimated to Grow at CAGR of 3% to 4% During 2022-2032

According to latest research by Fact.MR, Marine Auxiliary Engine market is set to witness steady growth during 2021-2031. Demand for Marine Auxiliary Engine will witness sound recovery in short-term, with optimistic growth outlook in the long-run. Growing demand from marine industry will have opportunities in near future and sales for Marine Auxiliary Engine.

With a multi-disciplinary approach, Fact.MR elaborates an extensive analysis of the historical, current and future outlook of the global Marine Auxiliary Engine Market as well as the factors responsible for such a growth. Our highly dedicated professionals have inputted critical and accurate insights associated with every industry, and region by doing thorough primary and secondary research.

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We leverage space-age industrial and digitalization tools to provide avant-garde actionable insights to our clients regarding the Marine Auxiliary Engine Market. For enhancing readers’ experience, the report starts with a basic overview about the Marine Auxiliary Engine Market and its classification.

Key Segments

By Application

  • Commercial
  • Recreational

By Fuel Type

  • Diesel
  • Gas

By Engine Capacity

  • Up to 500 kW
  • 500-1,500 kW
  • Above 1,500 kW

By Vessel Type

  • Auto carrier
  • Passenger cruise
  • General cargo
  • Bulk carrier
  • Containership
  • Tanker

By Region

  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
  • Europe
    • Germany
    • Italy
    • France
    • U.K.
    • Spain
    • BENELUX
    • Russia
  • South Asia and Pacific
    • India
    • ASEAN
    • Australia & New Zealand
  • East Asia
    • China
    • Japan
    • South Korea
  • Middle East & Africa
    • GCC
    • Turkey
    • South Africa
    • North Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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The insights for each vendor consists of:

  • Company profile
  • SWOT analysis
  • Main market information
  • Market share
  • Revenue, pricing and gross margin

What insights does the Marine Auxiliary Engine Market report provide to the readers?

  • Marine Auxiliary Engine Market fragmentation on the basis of product type, end use, and region.
  • Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
  • Collaborations, R&D projects, acquisitions, and product launches of each Marine Auxiliary Engine Market player.
  • Various regulations imposed by the governments on the consumption of Marine Auxiliary Engine Market in detail.
  • Impact of modern technologies, such as big data & analytics, artificial intelligence, and social media platforms on the global Marine Auxiliary Engine Market.

The report covers following Marine Auxiliary Engine Market insights and assessment that are helpful for all participants involved in the Marine Auxiliary Engine Market:

  • Data on recently introduced regulations and their impact on key industries and on demand in Marine Auxiliary Engine Market
  • Latest industry Analysis on Marine Auxiliary Engine Market with key analysis of market drivers, trends, and influencing factors
  • Key trends Analysis of Marine Auxiliary Engine Market and changing consumer preferences in major industries.
  • Changing Marine Auxiliary Engine Market demand and consumption of diverse products
  • Major trends underlining funding by key investors in numerous countries
  • New investment opportunities in diverse technology and product or service types
  • Comprehensive data and Competitive analysis of Marine Auxiliary Engine Market major players
  • Marine Auxiliary Engine Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
  • Marine Auxiliary Engine Market demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth

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Questionnaire answered in the Marine Auxiliary Engine Market report include:

  • How the market for Marine Auxiliary Engine Market has grown?
  • What is the present and future outlook of the global Marine Auxiliary Engine Market on the basis of region?
  • What are the challenges and opportunities for the Marine Auxiliary Engine Market?
  • Why the consumption of Marine Auxiliary Engine Market highest in region?
  • In which year segment is expected to overtake segment?

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Uncategorized

Marine Auxiliary Engine Demand is Estimated to Grow at CAGR of 3% to 4% During 2021-2031

What is Driving Demand for Marine Auxiliary Engine?

The rise in commercial shipping is one of the major factors driving the market growth. According to the United Nations Conference on Trade and Development, global commercial shipping is rising at a rate of more than 2% to 2.5% per year.

Over the forecast period, the growth is expected to be fuelled by an increase in trade carried out through the marine transportation industry. In addition, the introduction of smart control and fuel-efficient systems in commercial ships is expected to boost global trade volume.

Marine vessels sales and production around the globe have been impacted by COVID-19-pandemic. This has negatively impacted marine auxiliary engine sales in 2020. However, it is estimated that the demand will steadily grow from 2021 onwards.

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Key Segments

By Application

  • Commercial
  • Recreational

By Fuel Type

  • Diesel
  • Gas

By Engine Capacity

  • Up to 500 kW
  • 500-1,500 kW
  • Above 1,500 kW

By Vessel Type

  • Auto carrier
  • Passenger cruise
  • General cargo
  • Bulk carrier
  • Containership
  • Tanker

By Region

  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
  • Europe
    • Germany
    • Italy
    • France
    • U.K.
    • Spain
    • BENELUX
    • Russia
  • South Asia and Pacific
    • India
    • ASEAN
    • Australia & New Zealand
  • East Asia
    • China
    • Japan
    • South Korea
  • Middle East & Africa
    • GCC
    • Turkey
    • South Africa
    • North Africa

Commercial shipping likely to Increase Marine Auxiliary Engine Sales

One of the major factors driving the sales growth is the expansion of commercial shipping. Globalization has had a strong impact on the expansion of global commercial shipping. Since the world’s economies are intertwined, the global economy’s health has an impact on global trade volume.

With the growth of the economy, international trade is projected to increase, where seaborne trade is extremely important. As a result of the global demand and availability of resources and manufactured goods, economic development and growth create tremendous opportunities for the marine industry.

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Asia Pacific Marine Auxiliary Engine Market Outlook

Asia Pacific is one of the largest market for marine auxiliary engine globally. Technical advancements are also expected to have a significant impact on the Asia Pacific auxiliary engine market in the coming years. Due to high imports through ships and increasing LNG (Liquefied Natural Gas) consumption, China and Japan are the main demand generators for marine engines in the Asia Pacific region.

Europe Demand Outlook for Marine Auxiliary Engine

Many countries in EU have been severely impacted by the COVID-19 crisis, which has led a decline in economic activities. However, the government spending millions of euros in the shipping industry to help steer green shipping to drive demand for marine auxiliary engine.

The European Union intends to invest in the construction of commercial and off-shore vessels, resulting in positive development for the maritime industry. As a result of enduring emission-reduction technologies, they are transitioning to engines that emit less pollution.

The rising use of LNG in marine fuel in Europe presents a business opportunity for marine engine manufacturers. The demand for marine auxiliary engines will expand as this opportunity is realized.

Who are the Key Manufacturers and Suppliers of Marine Auxiliary Engine?

Some of the leading manufacturers and supplier include

  • Caterpillar
  • Cummins
  • John Deere & Company
  • Wärtsilä
  • YANMAR
  • Hyundai Heavy Industries
  • Man Energy Solution
  • Mitsubishi Heavy Industries
  • Volvo Penta
  • Deutz AG
  • MTU
  • GE Transportation
  • Daihatsu
  • SCANIA
  • Megatech Power
  • Kubota
  • Perkins
  • Others.

Many leading manufacturers and supplier have longstanding service contracts with vessel manufacturers to supply auxiliary engine- case in point, Man Energy Solutions has a long term service contract with Nakilat for maintaining their LNG vessels engines and auxiliary engines.

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About Fact.MR

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.

Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates