Table of Content


"1    INTRODUCTION    24
1.1    OBJECTIVES OF STUDY    24
1.2    DEFINITION    25
1.3    INCLUSIONS AND EXCLUSIONS    26
1.3.1    MARINE ENGINES MARKET, BY ENGINE    26
1.3.2    MARINE ENGINES MARKET, BY TYPE    26
1.3.3    MARINE ENGINES MARKET, BY POWER RANGE    26
1.3.4    MARINE ENGINES MARKET, BY FUEL    26
1.3.5    MARINE ENGINES MARKET, BY VESSEL    27
1.3.6    MARINE ENGINES MARKET, BY REGION    27
1.4    MARKET SCOPE    28
1.4.1    MARINE ENGINES MARKET SEGMENTATION    28
1.4.2    REGIONS COVERED    29
1.5    YEARS CONSIDERED FOR STUDY    29
1.6    CURRENCY    30
1.7    LIMITATIONS    30
1.8    STAKEHOLDERS    30
1.9    SUMMARY OF CHANGES    31
2    RESEARCH METHODOLOGY    32
2.1    RESEARCH DATA    32
FIGURE 1    MARINE ENGINES MARKET: RESEARCH DESIGN    32
2.2    MARKET BREAKDOWN AND DATA TRIANGULATION    33
FIGURE 2    DATA TRIANGULATION    33
2.2.1    SECONDARY DATA    34
2.2.1.1    Key data from secondary sources    34
2.2.2    PRIMARY DATA    35
2.2.2.1    Breakdown of primaries    35
2.2.2.2    Key data from primary sources    35
FIGURE 3    BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION    36
2.3    MARKET SIZE ESTIMATION    37
2.3.1    BOTTOM-UP APPROACH    37
FIGURE 4    MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH    37
2.3.2    TOP-DOWN APPROACH    38
FIGURE 5    MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH    38
2.3.3    DEMAND-SIDE ANALYSIS    39
FIGURE 6    MAIN METRICS CONSIDERED WHILE ANALYZING AND ASSESSING DEMAND FOR MARINE ENGINES    39
2.3.3.1    Regional analysis    40
2.3.3.2    Country analysis    40
2.3.3.3    Demand-side assumptions    40
2.3.3.4    Demand-side calculations    40
2.3.4    SUPPLY-SIDE ANALYSIS    41
FIGURE 7    KEY STEPS CONSIDERED FOR ASSESSING SUPPLY OF MARINE ENGINES    41
FIGURE 8    MARINE ENGINES MARKET: SUPPLY-SIDE ANALYSIS    42
2.3.4.1    Supply-side calculations    42
2.3.4.2    Supply-side assumptions    42
2.3.5    FORECAST    43
3    EXECUTIVE SUMMARY    44
TABLE 1    MARINE ENGINES MARKET SNAPSHOT    45
FIGURE 9    ASIA PACIFIC DOMINATED MARINE ENGINES MARKET IN 2021    46
FIGURE 10    PROPULSION ENGINE SEGMENT TO ACCOUNT FOR LARGER SHARE BETWEEN 2022 AND 2027    47
FIGURE 11    ABOVE 20,000 HP POWER RANGE SEGMENT TO LEAD MARINE ENGINES MARKET FROM 2022 TO 2027    47
FIGURE 12    TWO-STROKE ENGINE SEGMENT TO DOMINATE MARINE ENGINES MARKET FROM 2022 TO 2027    48
FIGURE 13    MARINE DIESEL OIL TO HOLD LARGEST SHARE OF MARINE ENGINES MARKET FROM 2022 TO 2027    48
FIGURE 14    BULK CARRIERS TO HOLD LARGEST SHARE OF MARINE ENGINES MARKET, FROM 2022 TO 2027    49
4    PREMIUM INSIGHTS    50
4.1    ATTRACTIVE OPPORTUNITIES IN MARINE ENGINES MARKET    50
FIGURE 15    GROWTH OF INTERNATIONAL MARINE FREIGHT TRANSPORT, AGING FLEET, AND ADOPTION OF SMART ENGINES FOR PERFORMANCE AND SAFETY TO DRIVE MARINE ENGINES MARKET BETWEEN 2022 AND 2027    50
4.2    MARINE ENGINES MARKET, BY REGION    51
FIGURE 16    ASIA PACIFIC MARKET TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD    51
4.3    ASIA PACIFIC: MARINE ENGINES MARKET, BY VESSEL AND COUNTRY, 2021    51
FIGURE 17    OIL TANKERS SEGMENT AND CHINA HELD LARGEST SHARES    51
4.4    MARINE ENGINES MARKET, BY ENGINE    52
FIGURE 18    PROPULSION ENGINE TO ACCOUNT FOR LARGER SHARE BY 2027    52
4.5    MARINE ENGINES MARKET, BY TYPE    52
FIGURE 19    TWO-STROKE SEGMENT TO DOMINATE MARINE ENGINES MARKET    52
4.6    MARINE ENGINES MARKET, BY POWER RANGE    53
FIGURE 20    ABOVE 20,000 HP SEGMENT TO HOLD LARGEST SHARE OF MARINE ENGINES MARKET    53
4.7    MARINE ENGINES MARKET, BY FUEL    53
FIGURE 21    MARINE DIESEL OIL SEGMENT TO DOMINATE MARINE ENGINES MARKET    53

4.8    MARINE ENGINES MARKET, BY VESSEL    54
FIGURE 22    BULK CARRIERS SEGMENT TO LEAD MARINE ENGINES MARKET    54
5    MARKET OVERVIEW    55
5.1    INTRODUCTION    55
5.2    COVID-19 HEALTH ASSESSMENT    56
FIGURE 23    GLOBAL PROPAGATION OF COVID-19    56
FIGURE 24    PROPAGATION OF COVID-19 CASES IN SELECTED COUNTRIES    57
5.3    COVID-19 ECONOMIC ASSESSMENT    58
FIGURE 25    REVISED GDP FOR SELECTED G20 COUNTRIES IN 2020    58
5.4    ROAD TO RECOVERY    59
FIGURE 26    COVID-19 PROPAGATION IN SELECT COUNTRIES    59
5.5    MARKET DYNAMICS    60
FIGURE 27    MARINE ENGINES MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,
AND CHALLENGES    60
5.5.1    DRIVERS    60
5.5.1.1    Growth in international marine freight transport    60
FIGURE 28    GLOBAL MARITIME TRADE VOLUME, 2010 –2020    61
5.5.1.2    Aging Fleet    61
FIGURE 29    AGE DISTRIBUTION OF WORLD MERCHANT FLEET, 2021    62
TABLE 2    AVERAGE AGE OF MERCHANT FLEET, BY VESSEL TYPE, 2020-2021    62
5.5.1.3    Adoption of smart engines for performance and safety    62
5.5.2    RESTRAINTS    63
5.5.2.1    Stringent environmental regulations for decarbonizing shipping    63
FIGURE 30    TYPICAL CO2 EMISSIONS PER TON OF CARGO TRANSPORTED ONE KILOMETER    64
FIGURE 31    IMO GLOBAL SULFUR CAP    64
5.5.2.2    Soaring freight rates and fees    64
FIGURE 32    INCREASE IN IMPORT PRICES DUE TO HIGH FREIGHT RATES, 2021    65
5.5.2.3    Dependence on heavy liquid fuels    65
5.5.3    OPPORTUNITIES    66
5.5.3.1    Rise of e-commerce and online trade    66
5.5.3.2    Rising demand for dual-fuel and hybrid engines    66
5.5.4    CHALLENGES    67
5.5.4.1    Structural factors increasing maritime transport costs    67
5.5.4.2    Volatile oil & gas prices    67
5.6    COVID-19 IMPACT    68
5.7    TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES    69
5.7.1    REVENUE SHIFT AND NEW REVENUE POCKETS FOR MARINE ENGINE PROVIDERS    69
FIGURE 33    REVENUE SHIFT FOR MARINE ENGINE PROVIDERS    69
5.8    MARKET MAP    70
FIGURE 34    MARKET MAP: MARINE ENGINES MARKET    70
TABLE 3    MARINE ENGINES MARKET: ROLE IN ECOSYSTEM    70
5.9    VALUE CHAIN ANALYSIS    72
FIGURE 35    VALUE CHAIN ANALYSIS: MARINE ENGINES MARKET    73
5.9.1    RAW MATERIAL PROVIDERS/SUPPLIERS    73
5.9.2    COMPONENT MANUFACTURERS    73
5.9.3    MARINE ENGINE MANUFACTURERS/ASSEMBLERS    73
5.9.4    DISTRIBUTORS (BUYERS)/END USERS    74
5.9.5    POST-SALES SERVICES    74
5.10    TECHNOLOGY ANALYSIS    74
5.10.1    IOT-CONNECTED MARINE ENGINES    74
5.10.2    DUAL-FUEL AND HYBRID MARINE ENGINES    74
5.11    PRICING ANALYSIS    75
5.11.1    AVERAGE SELLING PRICES OF MARINE ENGINES BY POWER RANGE    75
TABLE 4    AVERAGE SELLING PRICES OF MARINE ENGINES, 2021    75
TABLE 5    AVERAGE SELLING PRICES OF MARINE ENGINES, BY POWER RANGE,
OF KEY PLAYERS (2021)    75
FIGURE 36    AVERAGE SELLING PRICES OF KEY PLAYERS BY POWER RANGE    76
5.12    KEY CONFERENCES & EVENTS IN 2022-2023    76
TABLE 6    MARINE ENGINES MARKET: DETAILED LIST OF CONFERENCES & EVENTS    76
5.13    TARIFFS, CODES & REGULATIONS    77
5.13.1    TARIFFS RELATED TO MARINE ENGINES    77
TABLE 7    IMPORT TARIFFS FOR HS 840810 MARINE PROPULSION ENGINES IN 2019    77
5.13.2    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS    78
TABLE 8    NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS    78
TABLE 9    EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS    80
TABLE 10    ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS    81
TABLE 11    REST OF WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS    82
5.13.3    CODES AND REGULATIONS RELATED TO MARINE ENGINES    83
TABLE 12    MARINE ENGINES: CODES AND REGULATIONS    83
5.14    INNOVATIONS AND PATENT REGISTRATIONS    84
TABLE 13    MARINE ENGINES: INNOVATIONS AND PATENT REGISTRATIONS,
MARCH 2018–JANUARY 2022    84
5.15    PORTER’S FIVE FORCES ANALYSIS    92
FIGURE 37    PORTER’S FIVE FORCES ANALYSIS FOR MARINE ENGINES MARKET    92
TABLE 14    MARINE ENGINES MARKET: PORTER’S FIVE FORCES ANALYSIS    93
5.15.1    THREAT OF SUBSTITUTES    93
5.15.2    BARGAINING POWER OF SUPPLIERS    93
5.15.3    BARGAINING POWER OF BUYERS    93
5.15.4    THREAT OF NEW ENTRANTS    93
5.15.5    INTENSITY OF COMPETITIVE RIVALRY    94
5.16    KEY STAKEHOLDERS & BUYING CRITERIA    94
5.16.1    KEY STAKEHOLDERS IN BUYING PROCESS    94
FIGURE 38    INFLUENCE OF KEY STAKEHOLDERS IN BUYING PROCESS
FOR TOP 3 VESSEL TYPES    94
TABLE 15    INFLUENCE OF KEY STAKEHOLDERS IN BUYING PROCESS
FOR TOP 3 VESSEL TYPES    95
5.17    BUYING CRITERIA    95
FIGURE 39    INFLUENCE OF KEY STAKEHOLDERS IN BUYING PROCESS
FOR TOP 3 VESSEL TYPES    95
TABLE 16    KEY BUYING CRITERIA FOR TOP 3 VESSEL TYPES    95
5.18    CASE STUDY ANALYSIS    96
5.18.1    WÄRTSILÄ’S INTEGRATED PROPULSION SYSTEM HELPS SHIPBUILDER DELIVER SISTER SHIP FOR WORLD-CLASS UAE-BASED DREDGER    96
5.18.1.1    Problem Statement    96
5.18.1.2    Solution    96
5.18.2    CUMMINS PROVIDES EFFICIENT TWIN ENGINES SOLUTION FOR A HYBRID TUG FOR THE PORT OF AARHUS, DENMARK    96
5.18.2.1    Problem Statement    96
5.18.2.2    Solution    96
5.18.3    VOLKSWAGEN (MAN ENERGY SOLUTIONS) RETROFITS VERY LARGE GAS CARRIERS (VLGC) WITH DUAL-FUEL PROPULSION ENGINES USING ITS
LGIP TECHNOLOGY    97
5.18.3.1    Problem Statement    97
5.18.3.2    Solution    97
5.18.3.3    ROLLS-ROYCE HOLDINGS’ COMPANY, MTU, SUPPLIES SINGLE-FUEL MARINE GAS ENGINES FOR FERRIES COMMISSIONED IN DUTCH WADDEN SEA    97
5.18.3.3.1    Problem Statement    97
5.18.3.3.2    Solution    97
6    MARINE ENGINES MARKET, BY ENGINE    98
6.1    INTRODUCTION    99
FIGURE 40    MARINE ENGINES MARKET, BY ENGINE, 2021    99
TABLE 17    MARINE ENGINES MARKET SIZE, BY ENGINE, 2020–2027 (USD MILLION)    99
6.2    PROPULSION ENGINE    99
TABLE 18    PROPULSION ENGINE: MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    100
6.3    AUXILIARY ENGINE    101
TABLE 19    AUXILIARY ENGINE: MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    101
7    MARINE ENGINES MARKET, BY TYPE    102
7.1    INTRODUCTION    103
FIGURE 41    MARINE ENGINES MARKET, BY TYPE, 2021    103
TABLE 20    MARINE ENGINES MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)    103
7.2    TWO STROKE    104
TABLE 21    TWO-STROKE MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    104
7.3    FOUR STROKE    104
TABLE 22    FOUR-STROKE MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    104
8    MARINE ENGINES MARKET, BY POWER RANGE    105
8.1    INTRODUCTION    106
FIGURE 42    MARINE ENGINES MARKET, BY POWER RANGE, 2021    106
TABLE 23    MARINE ENGINES MARKET SIZE, BY POWER RANGE,
2020–2027 (USD MILLION)    106
TABLE 24    MARINE ENGINES MARKET SIZE, BY POWER RANGE, 2020–2027 (UNIT)    107
8.2    UP TO 1,000 HP    107
TABLE 25    UP TO 1,000 HP MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    107
TABLE 26    UP TO 1,000 HP MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (UNIT)    108
8.3    1,001 - 5,000 HP    108
TABLE 27    1,001 – 5,000 HP MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    108
TABLE 28    1,001 – 5,000 HP MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (UNIT)    108
8.4    5,001 – 10,000 HP    109
TABLE 29    5,001 – 10,000 HP MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    109
TABLE 30    5,001 – 10,000 HP MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (UNIT)    109
8.5    10,001 – 20,000 HP    110
TABLE 31    10,001 – 20,000 HP MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    110
TABLE 32    10,001 – 20,000 HP MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (UNIT)    110
8.6    ABOVE 20,000 HP    111
TABLE 33    ABOVE 20,000 HP MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    111
TABLE 34    ABOVE 20,000 HP MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (UNIT)    111
9    MARINE ENGINES MARKET, BY FUEL    112
9.1    INTRODUCTION    113
FIGURE 43    MARINE ENGINES MARKET, BY FUEL, 2021    113
TABLE 35    MARINE ENGINES MARKET SIZE, BY FUEL, 2020–2027 (USD MILLION)    113
9.2    HEAVY FUEL OIL    113
TABLE 36    HEAVY FUEL OIL: MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    114
9.3    MARINE DIESEL OIL    114
TABLE 37    MARINE DIESEL OIL: MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    115
9.4    MARINE GAS OIL    115
TABLE 38    MARINE GAS OIL: MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    115
9.5    OTHERS    116
TABLE 39    OTHER FUELS: MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    116
10    MARINE ENGINES MARKET, BY VESSEL    117
10.1    INTRODUCTION    118
FIGURE 44    MARINE ENGINES MARKET, BY VESSEL, 2021    118
TABLE 40    MARINE ENGINES MARKET SIZE, BY VESSEL, 2020–2027 (USD MILLION)    119
10.2    OFFSHORE SUPPORT VESSELS    119
TABLE 41    OFFSHORE SUPPORT VESSELS: MARINE ENGINES MARKET SIZE, BY REGION, 2020–2027 (USD MILLION)    120
10.3    OIL TANKERS    120
TABLE 42    OIL TANKERS: MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    120
10.4    BULK CARRIERS    121
TABLE 43    BULK CARRIERS: MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    121
10.5    GENERAL CARGO    122
TABLE 44    GENERAL CARGO: MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    122
10.6    CONTAINER SHIPS    122
TABLE 45    CONTAINER SHIPS: MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    123
10.7    PRODUCT TANKERS    123
TABLE 46    PRODUCT TANKERS: MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    123
10.8    TUGS    124
TABLE 47    TUGS: MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    124
10.9    OTHERS    125
TABLE 48    OTHER VESSELS: MARINE ENGINES MARKET SIZE, BY REGION,
2020–2027 (USD MILLION)    125
11    MARINE ENGINES MARKET, BY REGION    126
11.1    INTRODUCTION    127
FIGURE 45    MARINE ENGINES MARKET SHARE, BY REGION, 2021 (%)    128
FIGURE 46    MARINE ENGINES MARKET IN ASIA PACIFIC TO REGISTER HIGHEST CAGR FROM 2022 TO 2027    128
TABLE 49    MARINE ENGINES MARKET SIZE, BY REGION, 2020–2027 (USD MILLION)    129

11.2    ASIA PACIFIC    129
FIGURE 47    ASIA PACIFIC: MARINE ENGINES MARKET SNAPSHOT    130
11.2.1    BY ENGINE    131
TABLE 50    ASIA PACIFIC: MARINE ENGINES MARKET SIZE, BY ENGINE,
2020–2027 (USD MILLION)    131
11.2.2    BY TYPE    131
TABLE 51    ASIA PACIFIC: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    131
11.2.3    BY POWER RANGE    131
TABLE 52    ASIA PACIFIC: MARINE ENGINES MARKET SIZE, BY POWER RANGE,
2020–2027 (USD MILLION)    131
TABLE 53    ASIA PACIFIC: MARINE ENGINES MARKET SIZE, BY POWER RANGE,
2020–2027 (UNIT)    132
11.2.4    BY FUEL    132
TABLE 54    ASIA PACIFIC: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    132
11.2.5    BY VESSEL    133
TABLE 55    ASIA PACIFIC: MARINE ENGINES MARKET SIZE, BY VESSEL,
2020–2027 (USD MILLION)    133
11.2.6    BY COUNTRY    133
TABLE 56    ASIA PACIFIC: MARINE ENGINES MARKET SIZE, BY COUNTRY,
2020–2027 (USD MILLION)    133
11.2.7    CHINA    134
11.2.7.1    Robust shipbuilding industry and economic growth to drive market    134
11.2.8    BY TYPE    134
TABLE 57    CHINA: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    134
11.2.9    BY FUEL    134
TABLE 58    CHINA: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    134
11.2.10    JAPAN    135
11.2.10.1    Development of efficient marine engine technologies and growth of shipbuilding industry to drive market    135
11.2.11    BY TYPE    135
TABLE 59    JAPAN: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    135
11.2.12    BY FUEL    135
TABLE 60    JAPAN: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    135
11.2.13    SOUTH KOREA    136
11.2.13.1    Growth of the shipbuilding industry supported by government through tax rebates and tax incentives packages to boost market    136
11.2.14    BY TYPE    136
TABLE 61    SOUTH KOREA: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    136

11.2.15    BY FUEL    136
TABLE 62    SOUTH KOREA: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    136
11.2.16    PHILIPPINES    137
11.2.16.1    Tax incentives in shipbuilding and ship repair sectors to fuel market growth    137
11.2.17    BY TYPE    137
TABLE 63    PHILIPPINES: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    137
11.2.18    BY FUEL    138
TABLE 64    PHILIPPINES: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    138
11.2.19    VIETNAM    138
11.2.19.1    Government initiative to make shipbuilding a key export industry to propel marine engines market in the country    138
11.2.20    BY TYPE    138
TABLE 65    VIETNAM: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    138
11.2.21    BY FUEL    139
TABLE 66    VIETNAM: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    139
11.2.22    REST OF ASIA PACIFIC    139
11.2.23    BY TYPE    139
TABLE 67    REST OF ASIA PACIFIC: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    139
11.2.24    BY FUEL    140
TABLE 68    REST OF ASIA PACIFIC: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    140
11.3    EUROPE    140
FIGURE 48    EUROPE: MARINE ENGINES MARKET SNAPSHOT    141
11.3.1    BY ENGINE    141
TABLE 69    EUROPE: MARINE ENGINES MARKET SIZE, BY ENGINE,
2020–2027 (USD MILLION)    141
11.3.2    BY TYPE    142
TABLE 70    EUROPE: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    142
11.3.3    BY POWER RANGE    142
TABLE 71    EUROPE: MARINE ENGINES MARKET SIZE, BY POWER RANGE,
2020–2027 (USD MILLION)    142
TABLE 72    EUROPE: MARINE ENGINES MARKET SIZE, BY POWER RANGE,
2020–2027 (UNIT)    142
11.3.4    BY FUEL    143
TABLE 73    EUROPE: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    143
11.3.5    BY VESSEL    143
TABLE 74    EUROPE: MARINE ENGINES MARKET SIZE, BY VESSEL,
2020–2027 (USD MILLION)    143
11.3.6    BY COUNTRY    144
TABLE 75    EUROPE: MARINE ENGINES MARKET SIZE, BY COUNTRY,
2020–2027 (USD MILLION)    144
11.3.7    GERMANY    144
11.3.7.1    German maritime industry facing challenges such as reduction in CO2 emissions, COVID-19 pandemic, and international competition    144
11.3.8    BY TYPE    145
TABLE 76    GERMANY: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    145
11.3.9    BY FUEL    145
TABLE 77    GERMANY: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    145
11.3.10    ITALY    145
11.3.10.1    Ro-Ro and passenger cabotage routes to grow, and investments in LNG and hydrogen to drive market    145
11.3.11    BY TYPE    146
TABLE 78    ITALY: MARINE ENGINES MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)    146
11.3.12    BY FUEL    146
TABLE 79    ITALY: MARINE ENGINES MARKET SIZE, BY FUEL, 2020–2027 (USD MILLION)    146
11.3.13    RUSSIA    146
11.3.13.1    Increase in shipbuilding activities to drive marine engines market    146
11.3.14    BY TYPE    147
TABLE 80    RUSSIA: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    147
11.3.15    BY FUEL    147
TABLE 81    RUSSIA: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    147
11.3.16    FINLAND    147
11.3.16.1    Finnish maritime industry moving toward sustainable shipping solutions    147
11.3.17    BY TYPE    148
TABLE 82    FINLAND: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    148
11.3.18    BY FUEL    148
TABLE 83    FINLAND: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    148
11.3.19    FRANCE    148
11.3.19.1    Growing R&D for green and new technologies in French maritime industry to drive market    148
11.3.20    BY TYPE    149
TABLE 84    FRANCE: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    149
11.3.21    BY FUEL    149
TABLE 85    FRANCE: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    149

11.3.22    REST OF EUROPE    149
11.3.23    BY TYPE    150
TABLE 86    REST OF EUROPE: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    150
11.3.24    BY FUEL    150
TABLE 87    REST OF EUROPE: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    150
11.4    MIDDLE EAST & AFRICA    151
11.4.1    BY ENGINE    151
TABLE 88    MIDDLE EAST & AFRICA: MARINE ENGINES MARKET SIZE, BY ENGINE,
2020–2027 (USD MILLION)    151
11.4.2    BY TYPE    151
TABLE 89    MIDDLE EAST & AFRICA: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    151
11.4.3    BY POWER RANGE    152
TABLE 90    MIDDLE EAST & AFRICA: MARINE ENGINES MARKET SIZE, BY POWER RANGE, 2020–2027 (USD MILLION)    152
TABLE 91    MIDDLE EAST & AFRICA: MARINE ENGINES MARKET SIZE, BY POWER RANGE, 2020–2027 (UNIT)    152
11.4.4    BY FUEL    153
TABLE 92    MIDDLE EAST & AFRICA: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    153
11.4.5    BY VESSEL    153
TABLE 93    MIDDLE EAST & AFRICA: MARINE ENGINES MARKET SIZE, BY VESSEL,
2020–2027 (USD MILLION)    153
11.4.6    BY COUNTRY    154
TABLE 94    MIDDLE EAST & AFRICA: MARINE ENGINES MARKET SIZE, BY COUNTRY, 2020–2027 (USD MILLION)    154
11.4.7    TURKEY    154
11.4.7.1    Turkish shipbuilders and marine equipment suppliers seeing increase in demand for environment-friendly ships    154
11.4.8    BY TYPE    154
TABLE 95    TURKEY: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    154
11.4.9    BY FUEL    155
TABLE 96    TURKEY: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    155
11.4.10    UAE    155
11.4.10.1    New laws, as well as a more business-friendly environment in the UAE to provide pull for shipping businesses    155
11.4.11    BY TYPE    155
TABLE 97    UAE: MARINE ENGINES MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)    155
11.4.12    BY FUEL    156
TABLE 98    UAE: MARINE ENGINES MARKET SIZE, BY FUEL, 2020–2027 (USD MILLION)    156

11.4.13    SOUTH AFRICA    156
11.4.13.1    Low production cost and increase in manufacturing sector to drive market    156
11.4.14    BY TYPE    156
TABLE 99    SOUTH AFRICA: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    156
11.4.15    BY FUEL    157
TABLE 100    SOUTH AFRICA: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    157
11.4.16    EGYPT    157
11.4.16.1    Egyptian economy to grow as logistic services through ships increase in the country    157
11.4.17    BY TYPE    157
TABLE 101    EGYPT: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    157
11.4.18    BY FUEL    158
TABLE 102    EGYPT: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    158
11.4.19    REST OF MIDDLE EAST & AFRICA    158
11.4.20    BY TYPE    158
TABLE 103    REST OF MIDDLE EAST & AFRICA: MARINE ENGINES MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)    158
11.4.21    BY FUEL    159
TABLE 104    REST OF MIDDLE EAST & AFRICA: MARINE ENGINES MARKET, BY FUEL, 2020–2027 (USD MILLION)    159
11.5    NORTH AMERICA    159
11.5.1    BY ENGINE    159
TABLE 105    NORTH AMERICA: MARINE ENGINES MARKET SIZE, BY ENGINE,
2020–2027 (USD MILLION)    159
11.5.2    BY TYPE    160
TABLE 106    NORTH AMERICA: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    160
11.5.3    BY POWER RANGE    160
TABLE 107    NORTH AMERICA: MARINE ENGINES MARKET SIZE, BY POWER RANGE, 2020–2027 (USD MILLION)    160
TABLE 108    NORTH AMERICA: MARINE ENGINES MARKET SIZE, BY POWER RANGE, 2020–2027 (UNIT)    160
11.5.4    BY FUEL    161
TABLE 109    NORTH AMERICA: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    161
11.5.5    BY VESSEL    161
TABLE 110    NORTH AMERICA: MARINE ENGINES MARKET SIZE, BY VESSEL,
2020–2027 (USD MILLION)    161
11.5.6    BY COUNTRY    162
TABLE 111    NORTH AMERICA: MARINE ENGINES MARKET SIZE, BY COUNTRY,
2020–2027 (USD MILLION)    162

11.5.7    US    162
11.5.7.1    US to invest in shipyards across the country and growth in international trade activities to drive marine engines market    162
11.5.8    BY TYPE    162
TABLE 112    US: MARINE ENGINES MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)    162
11.5.9    BY FUEL    163
TABLE 113    US: MARINE ENGINES MARKET SIZE, BY FUEL, 2020–2027 (USD MILLION)    163
11.5.10    CANADA    163
11.5.10.1    The Canadian government continues to invest in building offshore vessels and joint vessels    163
11.5.11    BY TYPE    163
TABLE 114    CANADA: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    163
11.5.12    BY FUEL    164
TABLE 115    CANADA: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    164
11.5.13    MEXICO    164
11.5.13.1    Mexican government investing in infrastructure projects across industries for economic recovery    164
11.5.14    BY TYPE    164
TABLE 116    MEXICO: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    164
11.5.15    BY FUEL    165
TABLE 117    MEXICO: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    165
11.6    SOUTH AMERICA    165
11.6.1    BY ENGINE    165
TABLE 118    SOUTH AMERICA: MARINE ENGINES MARKET SIZE, BY ENGINE,
2020–2027 (USD MILLION)    165
11.6.2    BY TYPE    166
TABLE 119    SOUTH AMERICA: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    166
11.6.3    BY POWER RANGE    166
TABLE 120    SOUTH AMERICA: MARINE ENGINES MARKET SIZE, BY POWER RANGE, 2020–2027 (USD MILLION)    166
TABLE 121    SOUTH AMERICA: MARINE ENGINES MARKET SIZE, BY POWER RANGE, 2020–2027 (UNIT)    167
11.6.4    BY FUEL    167
TABLE 122    SOUTH AMERICA: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    167
11.6.5    BY VESSEL    168
TABLE 123    SOUTH AMERICA: MARINE ENGINES MARKET SIZE, BY VESSEL,
2020–2027 (USD MILLION)    168
11.6.6    BY COUNTRY    168
TABLE 124    SOUTH AMERICA: MARINE ENGINES MARKET SIZE, BY COUNTRY,
2020–2027 (USD MILLION)    168
11.6.7    BRAZIL    169
11.6.7.1    Brazil’s significant offshore oil and gas activity creating demand for offshore vessels    169
11.6.8    BY TYPE    169
TABLE 125    BRAZIL: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    169
11.6.9    BY FUEL    169
TABLE 126    BRAZIL: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    169
11.6.10    ARGENTINA    170
11.6.10.1    Shipbuilding projects in Argentina being key drivers for marine engines market    170
11.6.11    BY TYPE    170
TABLE 127    ARGENTINA: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    170
11.6.12    BY FUEL    170
TABLE 128    ARGENTINA: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    170
11.6.13    REST OF SOUTH AMERICA    171
11.6.14    BY TYPE    171
TABLE 129    REST OF SOUTH AMERICA: MARINE ENGINES MARKET SIZE, BY TYPE,
2020–2027 (USD MILLION)    171
11.6.15    BY FUEL    171
TABLE 130    REST OF SOUTH AMERICA: MARINE ENGINES MARKET SIZE, BY FUEL,
2020–2027 (USD MILLION)    171
12    COMPETITIVE LANDSCAPE    172
TABLE 131    OVERVIEW OF KEY STRATEGIES ADOPTED BY TOP PLAYERS, DECEMBER 2020– FEBRUARY 2022    172
12.1    MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS    175
TABLE 132    MARINE ENGINES MARKET: DEGREE OF COMPETITION    175
FIGURE 49    MARINE ENGINES MARKET SHARE ANALYSIS, 2021    176
12.2    REVENUE ANALYSIS OF TOP FIVE MARKET PLAYERS    177
FIGURE 50    TOP PLAYERS IN MARINE ENGINES MARKET FROM 2017 TO 2021    177
12.3    COMPANY EVALUATION QUADRANT    178
12.3.1    STAR    178
12.3.2    PERVASIVE    178
12.3.3    EMERGING LEADER    178
12.3.4    PARTICIPANT    178
FIGURE 51    COMPETITIVE LEADERSHIP MAPPING: MARINE ENGINES MARKET, 2021    179
12.4    MARINE ENGINES MARKET: COMPANY FOOTPRINT    180
TABLE 133    BY VESSEL TYPE: COMPANY FOOTPRINT    180
TABLE 134    BY POWER RANGE: COMPANY FOOTPRINT    181
TABLE 135    BY REGION: COMPANY FOOTPRINT    182
TABLE 136    COMPANY FOOTPRINT    183
12.5    COMPETITIVE SCENARIO    184
TABLE 137    MARINE ENGINES MARKET: PRODUCT LAUNCHES, FEBRUARY 2020–
MARCH 2021    184
TABLE 138    MARINE ENGINES MARKET: DEALS, MAY 2020– JANUARY 2021    185
TABLE 139    MARINE ENGINES MARKET: OTHERS, DECEMBER 2020– FEBRUARY 2022    186
13    COMPANY PROFILES    187
13.1    KEY PLAYERS    187
(Business overview, Products offered, Recent Developments, MNM view)*
13.1.1    CATERPILLAR    187
TABLE 140    CATERPILLAR: COMPANY OVERVIEW    187
FIGURE 52    CATERPILLAR: COMPANY SNAPSHOT (2020)    188
TABLE 141    CATERPILLAR: PRODUCTS OFFERED    189
TABLE 142    CATERPILLAR: PRODUCT LAUNCHES    190
TABLE 143    CATERPILLAR: DEALS    191
TABLE 144    CATERPILLAR: OTHERS    191
13.1.2    VOLKSWAGEN GROUP (MAN ENERGY SOLUTIONS)    193
TABLE 145    VOLKSWAGEN GROUP (MAN ENERGY SOLUTIONS): COMPANY OVERVIEW    193
FIGURE 53    VOLKSWAGEN GROUP (MAN ENERGY SOLUTIONS): COMPANY SNAPSHOT (2020)    194
TABLE 146    VOLKSWAGEN GROUP (MAN ENERGY SOLUTIONS): PRODUCTS OFFERED    194
TABLE 147    VOLKSWAGEN GROUP (MAN ENERGY SOLUTIONS): PRODUCT LAUNCHES    196
TABLE 148    VOLKSWAGEN GROUP (MAN ENERGY SOLUTIONS): DEALS    197
TABLE 149    VOLKSWAGEN GROUP (MAN ENERGY SOLUTIONS): OTHERS    198
13.1.3    VOLVO PENTA    201
TABLE 150    VOLVO PENTA: COMPANY OVERVIEW    201
FIGURE 54    VOLVO PENTA: COMPANY SNAPSHOT (2021)    202
TABLE 151    VOLVO PENTA: PRODUCTS OFFERED    202
TABLE 152    VOLVO PENTA: PRODUCT LAUNCHES    203
TABLE 153    VOLVO PENTA: DEALS    203
TABLE 154    VOLVO PENTA: OTHERS    204
13.1.4    HYUNDAI HEAVY INDUSTRIES CO., LTD.    206
TABLE 155    HYUNDAI HEAVY INDUSTRIES CO., LTD: COMPANY OVERVIEW    206
FIGURE 55    HYUNDAI HEAVY INDUSTRIES CO., LTD: COMPANY SNAPSHOT (2020)    207
TABLE 156    HYUNDAI HEAVY INDUSTRIES CO., LTD: PRODUCTS OFFERED    207
TABLE 157    HYUNDAI HEAVY INDUSTRIES CO., LTD: DEALS    208
13.1.5    ROLLS-ROYCE HOLDINGS    210
TABLE 158    ROLLS-ROYCE HOLDINGS: COMPANY OVERVIEW    210
FIGURE 56    ROLLS-ROYCE HOLDINGS: COMPANY SNAPSHOT (2020)    211
TABLE 159    ROLLS-ROYCE HOLDINGS: PRODUCTS OFFERED    212
TABLE 160    ROLLS-ROYCE HOLDINGS: DEALS    212
TABLE 161    ROLLS ROYCE HOLDINGS: OTHERS    213
13.1.6    WÄRTSILÄ    214
TABLE 162    WÄRTSILÄ: COMPANY OVERVIEW    214
FIGURE 57    WÄRTSILÄ: COMPANY SNAPSHOT (2021)    215
TABLE 163    WÄRTSILÄ: PRODUCTS OFFERED    215
TABLE 164    WÄRTSILÄ: PRODUCT LAUNCHES    216
TABLE 165    WÄRTSILÄ: DEALS    216
TABLE 166    WÄRTSILÄ: OTHERS    220
13.1.7    MITSUBISHI HEAVY INDUSTRIES, LTD.    221
TABLE 167    MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY OVERVIEW    221
FIGURE 58    MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT (2020)    222
TABLE 168    MITSUBISHI HEAVY INDUSTRIES, LTD.: PRODUCTS OFFERED    222
TABLE 169    MITSUBISHI HEAVY INDUSTRIES, LTD.: DEALS    223
TABLE 170    MITSUBISHI HEAVY INDUSTRIES, LTD.: OTHERS    224
13.1.8    CUMMINS    225
TABLE 171    CUMMINS: COMPANY OVERVIEW    225
FIGURE 59    CUMMINS: COMPANY SNAPSHOT (2021)    226
TABLE 172    CUMMINS: PRODUCTS OFFERED    226
TABLE 173    CUMMINS: PRODUCT LAUNCHES    228
TABLE 174    CUMMINS: DEALS    228
13.1.9    DAIHATSU DIESEL MFG. CO., LTD.    229
TABLE 175    DAIHATSU DIESEL MFG., CO. LTD.: COMPANY OVERVIEW    229
FIGURE 60    DAIHATSU DIESEL MFG. CO. LTD: COMPANY SNAPSHOT (2021)    230
TABLE 176    DAIHATSU DIESEL MFG. CO., LTD.: PRODUCTS OFFERED    231
TABLE 177    DAIHATSU DIESEL MFG. CO., LTD.: OTHERS    232
13.1.10    DEUTZ AG    233
TABLE 178    DEUTZ AG: COMPANY OVERVIEW    233
FIGURE 61    DEUTZ AG: COMPANY SNAPSHOT (2020)    234
TABLE 179    DEUTZ AG: PRODUCTS OFFERED    234
TABLE 180    DEUTZ AG: OTHERS    235
13.1.11    WINGD    236
TABLE 181    WINGD: COMPANY OVERVIEW    236
TABLE 182    WINGD: PRODUCTS OFFERED    236
TABLE 183    WINGD: PRODUCT LAUNCHES    238
TABLE 184    WINGD: DEALS    238
TABLE 185    WINGD: OTHERS    239
13.1.12    SIEMENS ENERGY    240
TABLE 186    SIEMENS ENERGY: COMPANY OVERVIEW    240
FIGURE 62    SIEMENS ENERGY: COMPANY SNAPSHOT (2021)    241
TABLE 187    SIEMENS ENERGY: PRODUCTS OFFERED    241
TABLE 188    SIEMENS ENERGY: OTHERS    242
13.1.13    FAIRBANKS MORSE    243
TABLE 189    FAIRBANKS MORSE: COMPANY OVERVIEW    243
TABLE 190    FAIRBANKS MORSE: PRODUCTS OFFERED    243
TABLE 191    FAIRBANKS MORSE: DEALS    244
13.1.14    WABTEC (GE TRANSPORTATION)    246
TABLE 192    WABTEC (GE TRANSPORTATION).: COMPANY OVERVIEW    246
FIGURE 63    WABTEC (GE TRANSPORTATION): COMPANY SNAPSHOT (2020)    247
TABLE 193    WABTEC (GE TRANSPORTATION): PRODUCTS OFFERED    247
TABLE 194    WABTEC (GE TRANSPORTATION): DEALS    248
TABLE 195    WABTEC (GE TRANSPORTATION): OTHERS    248
13.1.15    YANMAR    249
TABLE 196    YANMAR: COMPANY OVERVIEW    249
FIGURE 64    YANMAR: COMPANY SNAPSHOT (2020)    249
TABLE 197    YANMAR: PRODUCTS OFFERED    250
TABLE 198    YANMAR: PRODUCT LAUNCHES    252
TABLE 199    YANMAR: DEALS    252
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
13.2    OTHER PLAYERS    254
13.2.1    ISOTTA FRASCHINI MOTORI    254
13.2.2    CNPC JICHAI POWER COMPANY LIMITED    254
13.2.3    BERGEN ENGINES    255
13.2.4    DOOSAN INFRACORE    255
13.2.5    MAHINDRA POWEROL    256
13.2.6    IHI POWER SYSTEMS    256
14    APPENDIX    257
14.1    INSIGHTS FROM INDUSTRY EXPERTS    257
14.2    DISCUSSION GUIDE    258
14.3    KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL    264
14.4    AVAILABLE CUSTOMIZATIONS    266
14.5    RELATED REPORTS    267
14.6    AUTHOR DETAILS    268"