Marine Gensets Market Rising at 3.71% CAGR to 2021 Led by Commercial Vessels
Jan 25, 2017
The marine gensets market is projected to reach USD 5.40 billion by 2021, growing at a CAGR of 3.71% from 2016 to 2021 while Commercial vessels is the fastest growing segment of marine gensets by vessel type.
Pune, India - January 25, 2017 /MarketersMedia/ —
Growth in the ship-building industry along with rise in high value commercial vessels will be the main drivers for growth in the marine engines market. The marine gensets market is restrained by stringent emission norms for diesel engine and decrease in oil and gas exploration activities which has resulted in reduction of FPSO and number of offshore vessel.
Complete report on marine gensets market spread across 157 pages, profiling 15 companies and supported with 71 tables and 45 figures is now available at http://www.reportsnreports.com/reports/817819-marine-gensets-market-by-vessel-type-commercial-vessel-defense-vessel-offshore-vessels-fuel-diesel-fuel-gas-fuel-hybrid-fuel-rating-less-than-1000kw-1001-3000-kw-3001-10000kw-more-than-10000-st-to-2021.html .
The growth in the commercial vessels segment will be spurred by rise in maritime trade, a result of a surge in dry bulk carriers as well as rise in gas carrier vessels (LNG and LPG) due to increased demand for natural gas especially in economies such as China, India, Japan, and South Korea.
Diesel fuel will dominate the marine gensets by fuel-type segment market. Diesel fuel marine gensets is estimated to lose some market share to natural gas and alternative fuel gensets. One of the factors working against diesel fuel marine gensets is the increasing stringency of emission regulations occurring globally. Despite this hindering factor, diesel fuel gensets are still in high demand as they offer several advantages compared with other fuel types such as a longer engine lifespan, lower maintenance costs, and safe fuel storage.
Major market players covered are MAN Diesel & Turbo SE (Germany), Wärtsilä (Finland), Caterpillar, Inc. (U.S.), Mitsubishi Heavy Industries (Japan), and Rolls-Royce Power Systems AG (Germany) and others. Request a discount on a copy of Marine Gensets Market by Vessel Type (Commercial vessel, Defense Vessel, & Offshore Vessels), Fuel (Diesel Fuel, Gas Fuel, & Hybrid Fuel), Rating (Less Than 1,000kW, 1,001-3,000 kW, 3,001-10,000kW & More Than 10,000kW) & Region - Global Forecast to 2021 research report at http://www.reportsnreports.com/contacts/discount.aspx?name=817819 .
Asia-Pacific will dominate the marine gensets market largely due to rise in ship-building activity in China, South Korea, and Japan. These countries are investing heavily in ship-building and the leading players are expanding their manufacturing plants in these countries via new plants and licensees.
Get a representative sample copy of this research at http://www.reportsnreports.com/contacts/requestsample.aspx?name=817819 .
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