Press Release

India Marine Engines Market to be Dominated by Diesel Fuel Type Segment until 2025

Growing export with foreign countries coupled with government focus on reviving inland water transportation system as well as increasing production of ships to boost the demand for marine engines in India

According to TechSci Research report, India Marine Engines Market By Fuel Type, By Power, By End Use, By Region, Competition, Forecast & Opportunities, 2025, India marine engines market stood at 13 thousand units in 2019 and is projected to grow until 2025 on account of increasing ship manufacturing and growing export with foreign countries.  Moreover, supportive government initiatives towards revamping the existing water transport systems as well as presence of major merchant goods shipping companies is expected to boost the India marine engines market in the coming years. Additionally, presence of reputed marine engine manufacturers in the country is also expected to supplement the growth of marine engines market in India.

Browse 33 market data Figures and Tables spread through 70 Pages and an in-depth TOC on "India Marine Engines Market"

Various government initiatives such as Sagar Mala Pariyojana, shipbuilding and ship repair policy, national waterways act, policy for improving port and vessel operation efficiency, the merchant shipping bill 2016, relaxation in cabotage law, etc., are expected to  fuel the demand for marine engines in India over the course of next five years. On the basis of end use, the market is segmented into auxiliary and propulsion, out of which, propulsion type acquired the largest share in the market in volume terms in 2019. In terms of fuel type, the market can be categorized into diesel, petrol and gas. Among these, the diesel engine segment accounted for the largest market share in volume terms in 2019 and is expected to maintain its share on account of higher efficiency in terms of fuel economy and lesser cost than petrol engine coupled with easy availability across the country. In terms of regional analysis, the market has been segmented into North, East, West and South region. Among these, West region accounted for the highest share in India marine engines market due to existence of large a number of operational seaports across the region.

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Yanmar Holdings Co., Ltd., John Deere India Private Limited, Mahindra & Mahindra Ltd, Simpson & Co. Ltd.and others, which include Wärtsilä India Private Limited, Cummins India Ltd, Mitsubishi Heavy Industries, Hyundai Heavy Industries, etc., are the leading players operating in India marine engines market. Increase in the production capacity of domestic marine equipment and machinery manufacturers, expansion of product portfolio and introduction of new marine machinery models will continue to boost demand for marine engines in India. However, the market is likely to get subdued owing to the prevalent economic slowdown and lockdown in entire country due to spread of Coronavirus.

“Supportive government initiatives to improve existing marine engine and ship building production facilities and building of new ones coupled with growing exports with foreign countries and increasing presence of merchant shipping companies in Indian marine sector are some factors which are anticipated to positively influence the marine engines market in India through 2025”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Marine Engines Market By Fuel Type, By Power, By End Use, By Region, Competition, Forecast & Opportunities, 2025has evaluated the future growth potential of India marine engines market and provides statistics & information on market size, structure and future market growth. The report intends to provide latest market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India marine engines market.

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