Technological Advancements to Aid Growth of North America Marine Engines Market
Growing
usage of marine engines in boats, emerging technologies of marine engines, and
growth in international trade activities to aid growth of North America marine
engines market through 2023
According to a recently
published TechSci Research report “NorthAmerica Marine Engines Market By Type, By Application, By Engine Power Rating,
By Country, Competition Forecast & Opportunities, 2023’’,
North America marine
engines market is projected to cross $ 2.5 billion by 2023. The growth of the market is backed by
increasing demand for marine
engines in cruisers and boats for recreational purposes. Moreover,
technological advancements in marine engines along with growing international
trade activities is likely to further fuel growth in the market during the
forecast period. Additionally, rising tourism activities across coastal areas
would further steer market growth until 2023. Few
major companies operating in North America marine engines market include Mitsubishi
Corporation, MAN SE, Wartsila Corporation, Caterpillar Inc., Volvo Penta, Rolls
Royce Holding Plc., Cummins Inc., Mercury Marine, Inc. and others.
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Figures spread through 56 Pages and an in-depth TOC on "North America Marine Engines Market"
https://www.techsciresearch.com/report/north-america-marine-engines-market/3299.html
Among
countries, United States dominates North America marine engines market and is
anticipated to continue dominating during forecast period as well. The
dominance of United States can be attributed to the country’s improved
construction of inland waterways vessels and increasing demand for commercial
vessels across the country. On the basis of application, North America marine engines
market is segmented into commercial, defence and others. Of all, commercial
application segment dominates the market due to increasing
number of ports and private players in the shipping and marine industry.
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“Growing maritime tourism along with
rising application of marine engines in defense is pushing demand for marine
engines across North America. Moreover, growing demand for ferries and tug
boats and development of dual fuels engines are further contributing to the
growing demand for marine engines across the region. Additionally, rising
mergers & acquisition activities by major marine engine manufacturers would
steer growth in the market over the next five years.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“North
America Marine Engines Market By Type, By Application, By Engine Power Rating,
By Country, Competition Forecast & Opportunities, 2023’’ has assessed the future growth potential
of North America marine engines market and provides statistics and information
on market size, structure and trends. The report provides cutting-edge market
intelligence and helps decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
major drivers, challenges and opportunities in North America marine engines market.
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