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Marine Engines Market worth $16.4 billion by 2024

[150 Pages Report] The global marine engines market is projected to reach a size of USD 16.4 billion by 2024, at a CAGR of 3.11%, from an estimated USD 14.0 billion in 2019. This growth can be attributed to factors such as growth in international marine freight transport, growth in maritime tourism, and penetration of smart engines for situational awareness and safety.

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Marine Engines Market worth $16.4 billion by 2024

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  1. Marine Engines Market by Power (<1, 1-5, 5-10, 10-20 & >20) 000 hp, Vessel (Commercial, Offshore), Fuel (Heavy, Intermediate, Marine Diesel and Gas Oil), Engine (Propulsion & Auxiliary), Type (2 & 4-Stroke) & Region - Global Forecast to 2024 www.MarketsandMarkets.com

  2. The report "Marine Engines Market by Power (<1, 1-5, 5-10, 10-20 & >20) 000 hp, Vessel (Commercial, Offshore), Fuel (Heavy, Intermediate, Marine Diesel and Gas Oil), Engine (Propulsion & Auxiliary), Type (2 & 4-Stroke) & Region - Global Forecast to 2024", The global marine engines market is projected to reach USD 16.4 billion by 2024 from an estimated USD 14.0 billion in 2019, at a CAGR of 3.11%. This growth can be attributed to the growth in international marine freight transport, growth in maritime tourism, and penetration of smart engines for situational awareness and safety.

  3. The commercial segment is expected to hold the largest share of the marine engines market, by vessel, during the forecast period. The commercial segment is estimated to dominate the marine engines market in 2019 and is projected to have the largest market share during the forecast period. This is mainly because there is an increase in international seaborne trade leading to the increase in the commercial vessel count, thereby increasing the usage of marine engines in commercial vessels. Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=261640121

  4. The propulsion segment is expected to be the fastest growing segment of the marine engines market, by engine, during the forecast period. The propulsion segment accounted for the highest CAGR during the forecast period. The growth of this segment can be attributed to the fact, that, they are the main supporting systems of a ship and are an integral part of the ship’s propulsion mechanism. They support the main power supply of the vessel. Countries such as China, South Korea, and Japan are witnessing growth in seaborne trade which has subsequently led to an increase in demand for ships that are used to transport manufactured goods to various regions worldwide. This is expected to increase the demand for marine engines market in the forecast years in the propulsion segment. Get 10% Customization on this report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=261640121

  5. Browse >> 79 market data tables 42 figures 150 pagesand in-depth TOC on “Marine Engines Market - Global Forecast to 2024” Early buyers will receive 10% customization on this report. This is a Premium Report Priced at US $5650 for single user. Corporate User : US$8150 This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years to prioritize efforts and investments.

  6. Asia Pacific: The leading market for marine engiens. In this report, the marine engines market has been analyzed with respect to 5 regions, namely, North America, South America, Europe, Asia Pacific, and the Middle East & Africa. The growth of Asia Pacific is primarily driven by countries such as China, South Korea, and Japan, which, are considered as the main manufacturing hubs for marine engines. Over the past few years, this region has witnessed rapid economic development as well as the growth of the manufacturing and energy sectors, thereby resulting in an increase in the maritime trade. The rise in seaborne trade has subsequently led to an increase in demand for ships that are used to transport manufactured goods to various regions worldwide. Thus, the rise in the number of ships has contributed to the growing demand for propulsion systems and engines in the Asia Pacific region. Request Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=261640121

  7. To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the marine engines market. Some of the key players are • Key players - • Hyundai Heavy Industries (South Korea), • Caterpillar (US), • MAN SE (Germany), • Mitsubishi Heavy Industries (Japan) • Volvo Group (Sweden), • Rolls-Royce (UK), • Wärtsilä (Finland), • Cummins (US), • GE Transportation (US), • and DEUTZ AG (Germany) • Buy Now : - • https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=261640121

  8. Contact:Mr. Shelly SinghMarketsandMarkets™ INC.630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 Email: sales@marketsandmarkets.com

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