Global Marine Engine Market - Projected to Grow at a CAGR of 4%, to Reach a Value of $11.06 Billion by 2020

The expansion in this market is attributed to development in international seaborne industry, stringent environmental norms to lessen harmful gas emissions, creation of new technologies, and progress in the shipbuilding industry.

The actual report segments the sea engine market on the basis of the propulsion mechanism, which includes 2 stroke engines, four heart stroke engines, and diesel electrical engines among others. Four cerebrovascular accident engines are the fastest developing type of marine engines because they are quite, smooth, reliable as well as emit less pollution when compared with two-stroke engines.

The away from the coast waterways vessels segment is actually expected to grow at the maximum CAGR during the forecast time period. The growing demand for national waterways vessels in various areas such as Africa, South America, and also Europe has led to an increase in it is manufacturing.

The majority of inland rivers vessels are built in Asian countries. The major factors favoring this particular are low labor along with low manufacturing cost. Asia-Pacific has been the leading market with regard to marine engines in 2014, owing to the presence of several main shipbuilding countries such as Tiongkok, Japan, South Korea, Malaysia, and India.

Asia-Pacific characterizes not only in providing low cost ships, but also in efficient, top quality, and maritime regulated yachts. The commercial vessels in addition to inland waterways vessels would be the two fastest growing software segments during the forecast period of time.

The main challenge of the ocean engine market would be the large number of environmental regulations coming into perform for the shipping industry within the next decade. Compliance will have to be fulfilled with new technology that is nevertheless not mature. This requires assets and creates uncertainty.

Overcapacity in the shipping industry, massive investments required in R&D, high capital required to substitute existing vessels with brand new ones, and low shipping rates act as impetus to get more fuel-efficient ships. This will impact orders in developing fresh marine engines, which is a preventing factor of the marine motors market.

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