Brazil Generates Highest Demand for Marine Engines in South America
Rising trade activities through sea route, increasing global trade and growing trend of market consolidation to boost marine engines market in South America through 2023
According to recently
published TechSci Research report “SouthAmerica Marine Engines Market By Type, By Application, By Engine Power Rating,
By Country, Competition Forecast & Opportunities, 2023’’, South
America marine engines market is anticipated to be surpass $ 1.7
billion by 2023. Factors such as emerging technologies in marine engines market,
rising inclination towards seaborne trade coupled with growing demand for ferries,
commercial and tug boats are fuelling growth in South America marine engines
market. Moreover, increasing demand for cruisers and boats for recreational
purposes coupled with growth in international trading activities is further
likely to contribute to the growing demand for marine engines across South
America region in the coming years.
Browse 34 Figures spread through 58 Pages and an
in-depth TOC on "South America Marine Engines Market"
In
2017, commercial applications accounted for the largest market share, in terms
of value, in South America marine engines market. The dominance of this segment
can be attributed to increasing use of marine engines in commercial activities.
Brazil is the leading player in South America marine engines market and is
likely to maintain its dominance during forecast period as well on account of
growing maritime trade and anticipated economic growth of the country.
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“Growing demand for waterways for
freight transportation and rising government investments in shipbuilding
industry and inland waterways would drive the demand for marine engines in
South America in the coming years. Moreover, insufficient capacity of the cargo
containers coupled with rising mergers & acquisition activities by major
marine engine manufacturers would further aid the growth of South America
marine engines market in the coming years.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“South
America Marine Engines Market By Type, By Application, By Engine Power Rating,
By Country, Competition Forecast & Opportunities, 2023’’ has evaluated the future growth potential
of South America marine engine 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 South
America marine engines market.
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