Marine Diesel Engine Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2020 - 2025

Report Code: AM 23177 Report Format: PDF + Excel (Delivery in 48 Hrs)

Overview

Marine Diesel Engine Market size is projected to reach $ 7.90 billion by 2025 from $6.15 Billion in 2018, with a CAGR of 3.98% during 2020-2025. Modern ships use a reciprocating diesel engine as their prime mover due to their ease of operation, robustness and fuel efficiency compared to most other prime mover mechanisms. The rotating crankshaft can be directly mounted to the engine-turning a propeller for slow-speed engines, by means of a reduction gearbox for medium and high-speed engines, or by means of an alternator and electric motor in diesel-electric ships. Also, the Stirling engines are also used in commercial application which uses diesel as a fuel. The stirring engine is due to its quiet nature (both audibly and in terms of radio interference) and its ability to run on a variety of heat sources.  Increasing preference for energy-efficient engine technologies coupled with implementation of more stringent maritime safeguard laws is expected to drive the future global demand for marine diesel engines. Also, the international marine diesel engine market has grown primarily with the shipping industry focusing towards reduced carbon emissions.

Marine Diesel Engine Industry Outlook

The report: “Marine Diesel Engine Market Report– Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Marine Diesel Engine Market.

Key Takeaways

  • Asia Pacific Region holds the largest Marine Diesel Engine Market share during the forecast period.
  • The Merchant Segment is expected to grow at a CAGR of 4.22% in the Global Marine Diesel Engine Market.
  • By Speed, High speed is expected to grow at a high CAGR as a result of massive marine tourism along with rising demand for leisure vessels such as cruises, ferries, yachts and passenger vessels.

By Speed - Segment Analysis

The high-speed segment of Marine Diesel Engine market is expected to experience a CAGR of 4.67% during forecast period. High speed capacity is an important factor for commercial cruisers. Increasing demand for tugboats would fuel the adoption of high-speed marine diesel engines. Similarly, with the ongoing expansion and development of regional seaports, the marine diesel is likely to witness significant demand from high speed segment. Engines are mounted mainly on ferries or warships, small boats, fishing vessels and yachts. This segment will be further enriched by underline factors including compact size, improved engine performance & efficiency. According to Cruise Lines International Association (CLIA), the Global Ocean Cruise Passengers is expected to reach almost 30 million by 2019 from 23.06 million in 2015. This rise would result in increased demand for high speed marine diesel engines.

By Application - Segment Analysis

It is anticipated that the market of marine diesel engines for merchant application will have the CAGR Of 4.22% during 2020-2025. Increasing crude oil and other liquid products usage will foster the demand for marine diesel engine in this segment. Continuous expansion of choke points along with increasing container traffic will further drive demand for container vessels. In addition, Improving living standards along with increasing people's disposable income in developing economies is also likely to encourage the adoption of marine diesel engine. Similarly, Marine Diesel engines for Merchant Application are used in large-scale international trade between countries, which is a major driving force behind the growth of the segment. For instance, According to European Statistical Office (EUROSTAT), in 2018, maritime transport accounted for just over half of all merchandise traded between the European Union and the rest of the world. This show that most of the trade is through Ocean and will thereby increase the demand for marine diesel engines for merchant applications.

By Geography - Segment Analysis

Over the forecast years, the Marine Diesel Engine market share for the APAC Region will be 31.54%. In 2017, APAC accounted for more than one-third of the industry and is set to grow at a steady pace in the coming years. Improved activities in import and export are boosting the region's maritime market. Industrialization has fueled seaborne commerce in and around APAC in countries like China, India, and South Korea. Also, the marine diesel engine is incredibly focused, with top sixteen producers responsible for 90 % of production worldwide, with high-end products predominantly from China and Korea. According to India Brand Equity Foundation (IBEF), From Fiscal year 2013 to 2018 there was an increase of 196.86% in the net profit at major port. Also, In March 2018, an amended Model Concession Agreement (MCA) was approved by Indian Government to make port initiatives more investor-friendly and make investment climate in the sector more attractive. Apart from this, Under the Sagarmala Project, the Indian government has planned a total of 189 ports modernization projects involving US$ 22 billion investment by 2035. Such efforts by the APAC countries ' governments would push the growth of marine diesel engines.

Drivers – Marine Diesel Engine Market

•    Increased Seaborne trade between emerging economies

Escalating seaborne trade through emerging economies as well as increasing demand for economically feasible engines due to benefits like durability performance, and fuel efficiency would improve market growth for marine diesel engines. The market will be further increased by technological advances and advances in product design leading to low operating costs. According to the World Statistical Organization’s Statistical review, World Sea transport exports had a 5% increase in annual percentage change in 2017 from 2016. This increase shows that the maritime trade between economies are driving the marine diesel engine market.

·         Reduction of  carbon dioxide emission

The marine diesel engines are typically used as an auxiliary power unit (APU).The international marine diesel engine market has grown mainly as the shipping industry seeks to reduce carbon emissions. The shipping industry is focused on developing higher-efficiency diesel engines that use less fuel while providing more energy for vessels. Together with changing shipping industry focus, the rapid shift from residual fuel motors to diesel engines is expected to accelerate market penetration. Key benefits, including easy accessibility and low cost of diesel, make accepting ship-owners viable compared to other alternative fuels. According to International Chamber of Shipping, in almost 10 years starting from 2008, there is a decrease of almost 11.35% in the Total International Shipping CO2 Emission. This decrease can be accounted as a result of shift from residual fuel motor to diesel engine. So stringent policies established by different international associations for the reduction of CO2 emission will positively drive the marine diesel engine market.

Challenges – Marine Diesel Engine Market

·         Government Restrictions And Environmental Constraints On Diesel Engines

Government restrictions on diesel engines and environmental restrictions act as barriers to the growth of the market for marine diesel engines. For instance, United States Environmental Protection Agency (EPA), has adopted exhaust emission standards for marine diesel engines installed in a variety of marine vessels ranging in size and application from small recreational vessels to tugboats and large ocean-going vessels. EPA finalized emission standards for new marine diesel engines mounted on U.S. ships with a per-cylinder displacement of 30 liters or more (called Category 3 marine diesel engines). EPA also finalized a switch in diesel fuel program which will require 1,000 parts per million (ppm) of sulfur fuel to be produced and sold for use in marine vessels of category 3. In other nations, too, there are such stringent rules that will impede the growth of the marine diesel engine industry.

Market Landscape

Product launches, partnership and R&D activities are key strategies adopted by players in the Marine Diesel Engine market. In 2018, the market of Marine Diesel Engine has been consolidated by the top five players accounting for 37% of the share. Marine Diesel Engine top 10 companies are Artily, Teekay Corporation, Hyundai Heavy Industries, John Deere, Kawasaki Heavy Industries, MAN Energy Solutions, STX Engines, Caterpillar, Evergreen Marine Corp. and Sinokor Merchant Marine.

Partnership/Product Launches

Ø  In July 2019, a three-year partnership was signed between YANMAR MARINE INTERNATIONAL and the Nautical Institute of Brittany (INB) to provide training on YANMAR engines and new technologies.

Ø  Volvo Penta introduced the D8 engine and post-treatment concept in June 2019 to meet the Tier III requirements of the International Maritime Organization (IMO).

1. Marine Diesel Engine Market - Overview
        1.1 Definitions and Scope
2. Marine Diesel Engine Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Marine Diesel Engine Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Marine Diesel Engine Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Marine Diesel Engine Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Marine Diesel Engine Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Marine Diesel Engine Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Marine Diesel Engine Market - By Speed (Market Size -$Million / $Billion)
        8.1 High Speed
        8.2 Medium Speed
        8.3 Low Speed
9. Marine Diesel Engine Market - By Operation (Market Size -$Million / $Billion)
        9.1 2-Stroke
        9.2 4-Stroke
10. Marine Diesel Engine - By Application (Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
            10.3.1 Merchant
                 10.3.1.1 Container
                 10.3.1.2 Gas Carrier
                 10.3.1.3 Tanker
                 10.3.1.4 Bulk Carrier
                 10.3.1.5 Roll On/Roll Off Vessel
            10.3.2 Offshore
                 10.3.2.1 Drilling Rig Ship
                 10.3.2.2 Anchor Handling Vessel
            10.3.3 Cruise And Ferry
                 10.3.3.1 Cruise Vessel
                 10.3.3.2 Yacht
                 10.3.3.3 Passenger Ferry
11. Marine Diesel Engine- By Geography (Market Size -$Million / $Billion)
        11.1 Marine Diesel Engine Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Marine Diesel Engine- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Marine Diesel Engine- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Marine Diesel Engine - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Marine Diesel Engine - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Marine Diesel Engine Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Marine Diesel Engine Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Marine Diesel Engine Market - Key Company List by Country Premium
15. Marine Diesel Engine Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Anangel Shipping
        15.3 Ap Moller
        15.4 China Shipping Group
        15.5 Cosco
        15.6 Kawasaki Kisen Kaisha
        15.7 Man Diesel Turbo
        15.8 Mitsui Osk Line
        15.9 Msc Mediterranean Shipping
        15.10 Teekay
        15.11 Wartsila
        15.12 Company 12
        15.13 Company 13 & More
*Financials would be provided on a best efforts basis for private companies
16. Marine Diesel Engine Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Marine Diesel Engine Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

LIST OF TABLES

1.Global Marine Diesel Engine Market By Operation Market 2019-2024 ($M)
1.1 2-Stroke Market 2019-2024 ($M) - Global Industry Research
1.2 4-Stroke Market 2019-2024 ($M) - Global Industry Research
2.Global Marine Diesel Engine Market By Speed Market 2019-2024 ($M)
2.1 High Speed Market 2019-2024 ($M) - Global Industry Research
2.2 Medium Speed Market 2019-2024 ($M) - Global Industry Research
2.3 Low Speed Market 2019-2024 ($M) - Global Industry Research
3.Global Marine Diesel Engine Market By Operation Market 2019-2024 (Volume/Units)
3.1 2-Stroke Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 4-Stroke Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Marine Diesel Engine Market By Speed Market 2019-2024 (Volume/Units)
4.1 High Speed Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Medium Speed Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Low Speed Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Marine Diesel Engine Market By Operation Market 2019-2024 ($M)
5.1 2-Stroke Market 2019-2024 ($M) - Regional Industry Research
5.2 4-Stroke Market 2019-2024 ($M) - Regional Industry Research
6.North America Marine Diesel Engine Market By Speed Market 2019-2024 ($M)
6.1 High Speed Market 2019-2024 ($M) - Regional Industry Research
6.2 Medium Speed Market 2019-2024 ($M) - Regional Industry Research
6.3 Low Speed Market 2019-2024 ($M) - Regional Industry Research
7.South America Marine Diesel Engine Market By Operation Market 2019-2024 ($M)
7.1 2-Stroke Market 2019-2024 ($M) - Regional Industry Research
7.2 4-Stroke Market 2019-2024 ($M) - Regional Industry Research
8.South America Marine Diesel Engine Market By Speed Market 2019-2024 ($M)
8.1 High Speed Market 2019-2024 ($M) - Regional Industry Research
8.2 Medium Speed Market 2019-2024 ($M) - Regional Industry Research
8.3 Low Speed Market 2019-2024 ($M) - Regional Industry Research
9.Europe Marine Diesel Engine Market By Operation Market 2019-2024 ($M)
9.1 2-Stroke Market 2019-2024 ($M) - Regional Industry Research
9.2 4-Stroke Market 2019-2024 ($M) - Regional Industry Research
10.Europe Marine Diesel Engine Market By Speed Market 2019-2024 ($M)
10.1 High Speed Market 2019-2024 ($M) - Regional Industry Research
10.2 Medium Speed Market 2019-2024 ($M) - Regional Industry Research
10.3 Low Speed Market 2019-2024 ($M) - Regional Industry Research
11.APAC Marine Diesel Engine Market By Operation Market 2019-2024 ($M)
11.1 2-Stroke Market 2019-2024 ($M) - Regional Industry Research
11.2 4-Stroke Market 2019-2024 ($M) - Regional Industry Research
12.APAC Marine Diesel Engine Market By Speed Market 2019-2024 ($M)
12.1 High Speed Market 2019-2024 ($M) - Regional Industry Research
12.2 Medium Speed Market 2019-2024 ($M) - Regional Industry Research
12.3 Low Speed Market 2019-2024 ($M) - Regional Industry Research
13.MENA Marine Diesel Engine Market By Operation Market 2019-2024 ($M)
13.1 2-Stroke Market 2019-2024 ($M) - Regional Industry Research
13.2 4-Stroke Market 2019-2024 ($M) - Regional Industry Research
14.MENA Marine Diesel Engine Market By Speed Market 2019-2024 ($M)
14.1 High Speed Market 2019-2024 ($M) - Regional Industry Research
14.2 Medium Speed Market 2019-2024 ($M) - Regional Industry Research
14.3 Low Speed Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Marine Diesel Engine Market Revenue, 2019-2024 ($M)
2.Canada Marine Diesel Engine Market Revenue, 2019-2024 ($M)
3.Mexico Marine Diesel Engine Market Revenue, 2019-2024 ($M)
4.Brazil Marine Diesel Engine Market Revenue, 2019-2024 ($M)
5.Argentina Marine Diesel Engine Market Revenue, 2019-2024 ($M)
6.Peru Marine Diesel Engine Market Revenue, 2019-2024 ($M)
7.Colombia Marine Diesel Engine Market Revenue, 2019-2024 ($M)
8.Chile Marine Diesel Engine Market Revenue, 2019-2024 ($M)
9.Rest of South America Marine Diesel Engine Market Revenue, 2019-2024 ($M)
10.UK Marine Diesel Engine Market Revenue, 2019-2024 ($M)
11.Germany Marine Diesel Engine Market Revenue, 2019-2024 ($M)
12.France Marine Diesel Engine Market Revenue, 2019-2024 ($M)
13.Italy Marine Diesel Engine Market Revenue, 2019-2024 ($M)
14.Spain Marine Diesel Engine Market Revenue, 2019-2024 ($M)
15.Rest of Europe Marine Diesel Engine Market Revenue, 2019-2024 ($M)
16.China Marine Diesel Engine Market Revenue, 2019-2024 ($M)
17.India Marine Diesel Engine Market Revenue, 2019-2024 ($M)
18.Japan Marine Diesel Engine Market Revenue, 2019-2024 ($M)
19.South Korea Marine Diesel Engine Market Revenue, 2019-2024 ($M)
20.South Africa Marine Diesel Engine Market Revenue, 2019-2024 ($M)
21.North America Marine Diesel Engine By Application
22.South America Marine Diesel Engine By Application
23.Europe Marine Diesel Engine By Application
24.APAC Marine Diesel Engine By Application
25.MENA Marine Diesel Engine By Application
26.Man Diesel Turbo, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Ap Moller, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Mitsui Osk Line, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Wartsila, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Cosco, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Msc Mediterranean Shipping, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Kawasaki Kisen Kaisha, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Anangel Shipping, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Teekay, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.China Shipping Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)