Farmington, May 10, 2023 (GLOBE NEWSWIRE) -- The Global Variable Valve Timing (VVT) System in The Marine Engines Market size was valued at USD 38.89 billion in 2022 and is projected to reach USD 59.68 billion by 2030, growing at a CAGR of 5.50% from 2023 to 2030. Variable valve timing is particularly crucial in marine engines, where speed is essential for quickly launching a boat.
The market is expanding due to increased demand for high-powered marine engines and increased sales of recreational vessels and autonomous submarines. (AUVs). On the basis of engine type, the global variable valve timing VVT system market for marine engines is divided into low-power marine engines, medium-power marine engines, and high-power marine engines. The medium power marine engine segment is projected to grow quicker than other segments during the forecast period. This may be the result of an increased demand for mid-range powerboats in many regions. Depending on their intended use, small recreational vessels will likely hold a sizable portion of this market between 2022 and 2030. This is due to their increasing popularity with consumers in a variety of regions.
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Segmentation Overview:
By Type:
- Boat Engines with Low Power Output
The propulsion of ships and vessels is provided by naval engines that are not particularly powerful. The ship's engine is an essential component, regardless of whether it is a passenger ship, a cruise ship, or a luxury yacht, because it propels the vessel. There are two varieties of low-power naval engines: diesel-powered and gas turbine-powered. The growth of the VVT system in the marine engine market depends on a variety of factors, including the need for replacements, technological advancements, fuel prices, and environmental regulations.
- Marine Engines with a Mid-Power Output
In valve-timing-altering devices, marine engines with a mid-power output are utilized. By opening and closing various valves at the appropriate moments, the VVT system controls and manages the amount of exhaust gas that exits the engine compartment. It also serves to reduce backpressure, which reduces fuel consumption and increases engine output.
- Boat Engines That Put Out a Lot Of Power
High power output marine engines produce more power than those with a low power output. They are used by larger vessels such as cruise ships and oil tankers. These engines typically consume more petroleum and require more maintenance.
- Others
Regional Analysis:
Europe was the largest regional market in terms of revenue share in 2019, and its dominance is expected to persist throughout the forecast period. The region is experiencing an increase in demand for variable valve timing systems in the recreational boat industry as electric-powered vessels become increasingly popular. Increasing interest in reducing harmful emissions and adoption of clean ocean technologies are also fueling regional product demand.
Due to the increasing penetration of low-cost, high-performance VVT systems on large commercial vessels such as bulk carriers, container ships, cruise ships, etc., particularly in developing nations such as China and India, Asia Pacific is anticipated to be one of the fastest-growing markets with a CAGR greater than 6% during the forecast period. In addition, favorable government regulations designed to encourage investment through foreign direct investment (FDI) are anticipated to drive market expansion over the next seven years.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 5.50% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 59.68 billion |
| By Type |
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| By Application |
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| By Analysis of Phaser Types |
|
| By Technology Analysis |
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| By Valvetrain Type Analysis |
|
| By Companies |
|
| Regions and Countries Covered |
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| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Growth Factors:
- In the marine industry, there is an increasing demand for fuel-efficient turbines.
- Stringent environmental regulations for emission control
- Recreational vessels and ships are gaining in popularity.
- The advancement of engine technology and computer controls is substantial.
- Engine manufacturers are investing more in research and development.
Restraining factors: Using More Electric Vehicles (Evs) To Slow Down Growth
Traditional fuel-powered vehicles emit more pollution, which has government officials very concerned. Governments offer tax credits or grants to individuals who purchase electric vehicles (EVs) as a result of the global increase in pollution. Even though the coronavirus outbreak caused a 6% decline in global auto sales in 2020, the International Energy Agency (IEA) reports that sales of electric vehicles increased by 41% worldwide.
In addition, because electric vehicles are fuelled by batteries, they do not emit carbon or other gases. People who care about the environment are increasingly utilizing this mode of conveyance. This is expected to stall the market for cars with IC engines over the next few years. The operation of the internal combustion engine (ICE) is directly related to the operation of the variable valve timing (VVT) system, and anything that effects the ICE is likely to harm this market.
Key Segments Covered:
Top Market Players:
- Delphi
- Denso
- Aisin
- Eaton
- Hitachi Automotive Systems
- Others
By Type:
- Boat engines with low power output
- Marine Engines with a Mid-Power Output
- Boat engines that put out a lot of power
- Others
By Application:
- Small Recreational Boats
- On-Water Commercial Boats
- Autonomous Underwater Vehicle (AUV)
- Others
By Analysis of Phaser Types
- Hydraulic cam phaser
- Electric cam phaser
By Technology Analysis
- cam-phasing
- cam-phasing plus changing
By Valvetrain Type Analysis
- Double Over Head Cam (DOHC)
- Single Over Head Cam (SOHC)
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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