Selbyville, Delaware, Aug. 14, 2019 (GLOBE NEWSWIRE) --
Marine diesel engines market revenue is expected to draw considerable growth impetus from expanding global trade, increasing maritime tourism and growing government investment in naval activities. Though latest regulations to control emission levels in the environment have posed certain challenges to the marine diesel engines industry, market players are modifying their products and modernizing them to make their emission levels compliant with revised emission standards.
Global shipbuilding industry is witnessing significant growth rate with the rise in global trade, which will in turn add impetus to marine diesel engines market trends. The shipbuilding industry has thus been creating growth opportunities for the market. For instance, the orderbooks of South Korean shipbuilders are traditionally considered be the standard indicator for future international shipping activities in the shipbuilding industry.
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In 2019, Hyundai Heavy Industries, one of the leaders of South Korean shipbuilding industry, forecast new orders of $15.9 billion. Considering that South Korea, followed by China and Japan hold the leading positions in the international shipbuilding industry, as the order books of these nations fill up, shipbuilding industry will continue to grow over the coming years. And as engine designs are rapidly upgraded to utilize fuel better, marine diesel engines market size is expected to record increased growth over the forecast years.
The shipbuilding industry trends across Europe have been depicting a consistent change since the last few years which has majorly surged the regional marine diesel engines market share. One of the pivotal regional contributors in this continent is Germany. The country’s shipbuilding industry has been expanding steadily since the last few years, leading to the increased demand for marine diesel engines. Rising maritime tourism across the region will also augment Germany market outlook.
Unlike a few decades age, ships are now used to transport billions of tons of goods as world trade has expanded. Institutional and technological factors have also played a major role. For instance, China’s economic opening and exports from Mexico to the USA have in themselves led to significant boost in international trade.
The growing demand for energy and mineral resources generated by industrialized nations as well as newly emerging economies characterized by proliferating industrialization trends has led to increasing quantities of goods being transported distant lands. Marine diesel engines market share is also expected to increase substantially from the revolution in communications and information technology that have helped in drastically reducing mobility and accessibility costs.
New production processes and network connections were facilitated by the technology revolution thus making such processes as outsourcing and offshoring possible and adding a tremendous stimulus to logistics. Rising demand led to economies of scale through which transportation costs were reduced while size of ships increased, developing new growth avenues for marine diesel engines market.
Explosive growth of ecommerce is yet another factor that added massive demand to the shipping industry. Moreover, technological as well as organizational improvements in port management which include general cargo traffic has added impetus to maritime shipment as well as marine diesel engines industry.
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Passenger ships and cruise ships are increasingly playing a significant role in adding growth impetus to marine diesel engine as cruising activities and leisure boating are gaining popularity. As the world recovers speedily from the economic crisis it faced in 2008 and per capita spending power in emerging economies add boost to tourism, demand for cruise ships have been on the rise.
Major shipyards have been building bigger and increasingly more elaborate ships, and accessibility and social media hype around travelling is adding a new momentum to consumer demands who are spending more on experiences rather than possessions. Amid this scenario, the demand for medium speed marine diesel engines has been gaining major traction.
In spite of being criticized for being a source of pollution, it should be noted that of all the main modes of transportation, shipping is by far the lowest emitter in terms of amounts of CO2 emitted per ton of goods transported per kilometer. While the Internal Energy Agency estimates that transportation accounts for around 25% of CO2 emissions, maritime transport is responsible for only 2.5% of global greenhouse gas emissions.
Merchant vessels form an important part of the application landscape of marine diesel engines market. Merchant vessels such as bulk carriers, container vessels, gas carriers, and tankers are being used robustly to carry out global trading activities. The expanding manufacturing sector and the proliferating trend of online shipping has also added impetus to the demand for merchant vessels.
What does this report offer?
The marine diesel engines market report offers a brief analysis of industry segment including technology, application, and region. The study elaborates the insights on this industry in terms of numerous parameters like growth drivers influencing revenue scale of this business space, in addition to the industry outlook, market segmentation, and global trends.
According to the report, the application segment of the market is subdivided into merchant, offshore, navy, cruise & ferries, and others. The key pointers that the report encompasses pertaining to the application segment are the revenue forecast by the end of the anticipated duration, market share of each subsegment, and the most proliferating trends.
Browse key industry insights spread across 364 pages with 454 market data tables & 48 figures & charts from the report, “Marine Diesel Engines Market Size By Technology, Application (Merchant, Offshore, Cruise & Ferry, Navy), Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/marine-diesel-engine-market
The report claims that the merchant application segment of marine diesel engines market is sub-divided into tankers, roll on/roll off, container vessels, bulk carriers, and gas carriers. Platform supply vessels, offshore research vessels, drilling rigs and ships, floating production units, and anchor handling vessels fall under the offshore application segment. The cruises & ferries application segment comprises cruise vessels, yachts, fast ferries, cargo ferries, and passenger ferries.
A detailed analysis of every application sub-segment has been provided in the study. The application segmentation offers a detailed collection of essential market definitions, industry scope, and major driving factors.
The marine diesel engines market report also elaborates on the market share of the subsegments to be held currently and by the end of forecast timeframe. Numerous trends portraying the performance of the application landscape have been elaborated on, in the study.
Regionally, marine diesel engines market report is segmented into Canada, U.S., Germany, Italy, UK, Norway, Russia, France, Denmark, China, India, Japan, South Korea, Saudi Arabia, Australia, Vietnam, UAE, Angola, Iran, Egypt, South Africa, Brazil, Mexico, and Argentina. These regions are further divided based on consumer base, market contribution, availability of industry players, and other aspects.
In essence, the market report encompasses a collection of essential parameters that would make it easy for stakeholders to undertake necessary decisions. The research report includes vital information about industry driving factors, SWOT analysis, and more.
The document also provides an overview of global trends, detailed industry ecosystem analysis, executive summary, industry insights, and the market segmentation. Deliverables related to the regulatory spectrum and competitive scenario are further discussed in the report alongside the business tactics adopted by the industry partakers.
Table of Contents (ToC) of the report:
Chapter 4 Marine Diesel Engines Market, By Technology
4.1 Global share by technology, 2018 & 2025
4.2 Low speed
4.2.1 Global market from low speed, 2014 - 2025
4.2.2 Global market from low speed, by region, 2014 – 2025
4.3 Medium speed
4.3.1 Global market from medium speed, 2014 - 2025
4.3.2 Global market from medium speed, by region, 2014 – 2025
4.4 High speed
4.4.1 Global market from high speed, 2014 - 2025
4.4.2 Global market from high speed, by region, 2014 – 2025
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/marine-diesel-engine-market
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