Press Release

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.

Browse 31 Figures spread through 56 Pages and an in-depth TOC on "North America Marine Engines Market"

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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