Press Release

Russia and Germany to Boost Europe Marine Engines Market to $ 5 Billion by 2023

Growing investments in optimized vessel efficiency, emerging technologies of marine engines and increasing use of LNG fuelled engines to boost demand for marine engines in Europe through 2023

According to a recently published TechSci Research report Europe Marine Engines Market By Type, By Application, By Engine Power Rating, By Country, Competition Forecast & Opportunities, 2013 - 2023’’, Europe marine engines market is forecast to surpass $ 5 billion by 2023. Growth in the market can be attributed to high demand for marine engines in the region’s major economies like Russia and Germany, which have huge and growing commercial shipping industries. Moreover, investments in optimized vessel efficiency and emergence of new technologies in marine engines is further expected to push demand for marine engines across Europe in the coming years. Additionally, rising demand for ships and tankers across various countries of the region along with use of waterways for freight transportation would further steer growth in Europe marine engines market over the next five years.

Browse 43 Figures spread through 64 Pages and an in-depth TOC on "Europe Marine Engines Market"

https://www.techsciresearch.com/report/europe-marine-engines-market/3291.html


On the basis of applications, Europe marine engines market is segmented into commercial, defense and others. Commercial application segment accounts for the largest market share in terms of value in Europe marine engines market, and the segment is likely to maintain its dominance throughout the forecast period as well, on the back of increasing number of ports and private players in the shipping and marine industry across the region. Few major companies operating in Europe marine engines market include Mitsubishi Corporation, MAN SE, Wartsila Corporation, Caterpillar Inc., Volvo Penta, Rolls Royce Holding Plc., Cummins Inc., General Electric and others.

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“Growing demand for vessels and oil tankers across Europe is driving demand for marine engines in the region and this demand is further likely to increase in the coming years as well. Moreover, insufficient capacity of the cargo containers and increase in demand for ferries and tug boats are further expected to positively influence Europe marine engines market. Furthermore, rising inclination towards LNG fuelled ships and increasing merger & acquisitions activities in Europe marine engine market would further steer growth in the market over the course of next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Europe Marine Engines Market By Type, By Application, By Engine Power Rating, By Country, Competition Forecast & Opportunities, 2013 - 2023’’ has evaluated the future growth potential of Europe marine engines market and provides statistics and information on market size, structure and trends. 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 Europe marine engines market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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Relevant Reports

Europe Marine Engines Market By Type (Main Propulsion, & Auxiliary Engine), By Application (Commercial, Defense, etc), By Engine Power Rating (<750KW, 751-4000KW, 4001-8000KW, & >8000 KW), By Country, Competition Forecast & Opportunities, 2013 - 2023

Power | Sep, 2018

Growing investments in optimized vessel efficiency, emerging technologies of marine engines and increasing use of LNG fuelled engines to boost demand for marine engines in Europe through 2023

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