Marine Propulsion Systems Market Projected to Witness a Single-Digit CAGR During

Posted by Divakar on November 24th, 2017

Marine Propulsion frameworks is a standout amongst the most critical piece of the marine vessel. Marine drive is the framework used to create impel a ship crosswise over water. Where oars and sails are as yet being utilized as a part of littler pontoons, present day ships are driven by mechanical frameworks which comprises of an electric engine or motor handing a propeller over pump-planes.

The kind of drive framework utilized as a part of boats relies upon the prerequisite of vessel. Direct propulsion framework is the most favoured framework on ships. It has a propeller, which is associated with the essential motor utilizing shaft. Direct propulsion framework is regularly utilized by ships employing in bound waters and in zones wherein higher rates are not permitted.

Gear drive propulsion systems framework is most usually utilized now a days. It is related with a wide range of prime movers. The primary elements of the framework is that it decreases the quantity of unrests from the motor yield such that the framework can determine most extreme propeller effectiveness.

Electrical drive was the favoured one amid the times of Second World War. Be that as it may, these days most electrical drives have medium or rapid diesel motors as their prime movers.

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Marine Propulsion Systems Market: Market Dynamics

The subsequent increase of water-based logistics involving transportation of heavy duty vessels has been a major driver of the marine propulsion systems market. Growth in ecommerce sector is another driver associated with the Marine Propulsion Systems Market. The repair and maintenance of components are expected to be future opportunities, particularly in heavy duty engines segment. The major players associated with marine propulsion engine systems market will be concentrating on technological advancements in the existing products available. Naval fleet development by countries such as India, China and Russia is going to boost the market for marine propulsion engine market.

The global Marine Propulsion Systems Market is being hit by low oil prices. Low oil prices globally has been a restraining factor for the market and future is also bleak because the price of oil is going to be low and investment in oil related products will be weak.

Marine transportation is a necessary substitute of other modes of transportation such as roads rails and airways which are not feasible for the international trade. With the increase in the global trade marine propulsion engine market is going to get a boost on account of this. Also the increasing cost in air cargo transport systems is going to shift demand towards marine transportation which in turn is going to boost the demand for marine propulsion system market.

Marine Propulsion Systems Market: Market Segmentation

Global Marine Propulsion Systems Market can be segmented based on the product type, material and applications.

Global Marine Propulsion Systems Market based on output power rating is segmented as:

  • 80-750 hp  (light-to-medium duty engines)

  • 1000-5000 hp (light-to-medium duty engines)

  • 5000-10,000 hp (heavy duty engines)

  • Above 10,000 hp (heavy duty engines)

Global Marine Propulsion Systems Market based on combustion type is segmented as:

  • 2-Stroke Engine

  • 4-Stroke Engine

Global Marine Propulsion Systems Market based on fuel type is segmented as:

  • Marine Diesel

  • Dual Fuel

  • Gas

  • Heavy Fuel Oil

Global Marine Propulsion Systems Market based on application is segmented as:

  • Boats

  • Yachts

  • Container Ships

  • Cruise Ships

  • Tankers

  • Tugs

  • Offshore

Marine Propulsion Systems Market: Region-wise Outlook

In terms of production, North America, Western Europe and Asia Pacific together are expected to have a commanding share in the Global Marine Propulsion Systems Market owing to established infrastructure and technical know-how. In terms of consumption of marine propulsion engine, North America and Asia Pacific followed by other regions are expected to dominate the global Marine Propulsion Systems Market. North America with the increasing list of billionaires people are set to spend more money of expensive boats and yachts which is going to boost the market for marine propulsion systems market. Also the increase in global trade and increase in consumption power globally purchasing of container ships in countries like India, USA, China is going to boost the demand for marine propulsion systems market.

Marine Propulsion Systems Market: Market Participants

Examples of some of the players of Marine Propulsion Systems Market includes MAN Diesel & Turbo, Caterpillar, Doosan Infracore, Daihatsu Diesel Mfg. Co. Ltd., Yanmar Marine International B.V., Rolls-Royce plc., Dresser-Rand, Marine Diesel AB., Volvo Group and Deere & Company among others.

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Joined: January 23rd, 2017
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