Asia Pacific Marine Engines Market is expected to grow at a robust CAGR
Asia Pacific Marine Engines Market is expected to grow owing to investment
in offshore infrastructure and the establishment of favorable regulatory
frameworks throughout the forecast period.
According to TechSci Research report, “Asia Pacific Marine Engines Market - By Country, Competition,
Forecast and Opportunities, 2018-2028”, the Asia Pacific Marine Engines
Market is expected to register robust growth during the forecast period. The utilization of natural gas and liquefied natural gas (LNG) as
environmentally friendly fuels for power generation and transportation is
witnessing a surge in the Asia Pacific region. This emerging trend has spurred
the development of LNG-powered vessels and offshore platforms, thereby
generating a demand for marine engines capable of operating on natural gas.
Manufacturers now have the opportunity to supply engines specifically designed
for these alternative fuels, thereby contributing to the further expansion of
the market.
The Asia Pacific region has emerged as a prominent global hub for
maritime trade and shipping owing to its strategic geographical location,
extensive coastlines, and robust economic growth. With the continuous expansion
of global trade, there are substantial opportunities for marine engine
manufacturers to meet the growing demand for vessels equipped with efficient
and environmentally friendly engines. These include cargo ships, container
vessels, bulk carriers, and more. Furthermore, the expansion of shipping routes
and maritime infrastructure presents additional avenues for market growth.
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in-depth TOC on the "Asia Pacific Marine Engines Market."
Based on stroke, the Four
Stroke segment is expected to dominate the market during the forecast period. To
comply with emission regulations, the Asia Pacific marine engines market,
including the two-stroke segment, has been shifting towards the utilization of
lower-sulfur fuels such as marine gasoil (MGO) and liquefied natural gas (LNG).
This transition presents opportunities for manufacturers to deliver engines
optimized for these fuels and to develop exhaust gas cleaning systems
(scrubbers) for vessels that continue to employ high-sulfur fuels. With the
expansion of LNG bunkering infrastructure in the region, there is potential for
growth in LNG-powered two-stroke engines. To ensure competitiveness and address
environmental concerns, two-stroke engine manufacturers in the Asia Pacific
region are making investments in research and development. These efforts encompass
the design of engines with improved fuel efficiency, lower emissions, and
reduced maintenance requirements. The progress of materials, combustion
technology, and electronic engine control systems is driving the development of
more advanced and environmentally friendly two-stroke engines. The Asia Pacific
region is home to numerous shipbuilding companies that exert significant
influence on the selection of engines for new vessels. Two-stroke engine
manufacturers often collaborate with shipbuilders to integrate their engines
into ship designs and offer comprehensive propulsion solutions. Establishing
strong partnerships with shipbuilders can be a strategic move for engine
manufacturers operating in this segment.
Based on capacity, the Above 20,000 HP segment is projected to dominate
the market throughout the forecast period. Vessels with engine power exceeding
20,000 HP are predominantly utilized in commercial shipping, specifically for
ultra-large container ships, very large crude carriers (VLCCs), and bulk
carriers. The Asia Pacific region serves as a vital hub for maritime trade, and
the demand for large, high-powered engines in this sector is directly
correlated to the flourishing commercial shipping industry in the region. As
trade volumes continue to surge, so does the requirement for vessels equipped
with robust engines in this category. In this segment, fuel efficiency and
economy hold utmost significance. Ship owners and operators strive to minimize
fuel consumption to curtail operating costs and adhere to environmental
regulations. Manufacturers catering to this sector must prioritize the
development of engines incorporating cutting-edge fuel-saving technologies,
such as efficient combustion systems, waste heat recovery, and optimized hull
designs. Furthermore, the shift towards lower-sulfur fuels and the utilization
of liquefied natural gas (LNG) as a marine fuel are influencing engine design
in this high-power segment. Strict environmental regulations, including the
International Maritime Organization's (IMO) Tier III standards for NOx
emissions and the IMO's Energy Efficiency Existing Ship Index (EEXI) for
existing vessels, are applicable to large vessels featuring engines with over
20,000 HP. Manufacturers must engage in innovation to reduce emissions and
devise exhaust gas cleaning systems (scrubbers) or explore alternative
propulsion systems like LNG to assist ship owners in complying with these
regulations.
Key market players in the Asia Pacific Marine Engines Market are:-
- Yanmar Co., Ltd.
- Kawasaki Heavy Industries, Ltd.
- Mitsubishi Heavy Industries, Ltd.
- Doosan Infracore Co., Ltd.
- Suzuki Motor Corporation
- Caterpillar Marine
- MTU Friedrichshafen GmbH
- Cummins Inc.
- Nissan Marine Co., Ltd.
- Perkins Engines Co. Ltd.
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“The Asia Pacific Marine Engines Market in China is poised to be the
dominant force in the industry. China is making significant investments in
research and development, with a particular focus on emerging technologies and
digitalization in the maritime sector. This encompasses the advancement of
smart engine management systems, predictive maintenance solutions, and
energy-efficient propulsion technologies. Manufacturers that align with China's
commitment to technological progress can leverage collaborative opportunities
and tap into the potential of the market.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Asia Pacific Marine Engines Market By Stroke (Four Stroke, Two Stroke
and Others), By Capacity (Up to 1,000 HP, 1,001–5,000 HP, 5,001–10,000 HP,
10,001–20,000 HP and Above 20,000 HP), By Fuel Type (Heavy Fuel Oil,
Intermediate Fuel Oil and Others), By Ship Type (Bulk Carriers, General Cargo
Ships, Container Ships, Ferries & Passenger Ships, Oil Tankers and Others),
By Country, By Competition Forecast & Opportunities, 2018-2028,” has evaluated the future growth potential of Asia Pacific Marine Engines
Market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Asia Pacific Marine Engines
Market.
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