Marine Gensets Market By Size, Trends, Developments & Forecast 2028

Summary

Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 3.26 billion
CAGR (2023-2028)	3.84%
Fastest Growing Segment	Commercial
Largest Market	Asia Pacific

Market Overview

The Global Marine Gensets Market was valued at USD 3.26 billion in 2022 and is growing at a CAGR of 3.84% during the forecast period. The global maritime tourism sector has experienced consistent growth in recent years, driven by increased consumer spending on leisure activities and higher disposable income. This upward trajectory has resulted in a growing demand for recreational vessels, as an increasing number of tourists choose to travel via ferries and cruise ships. Furthermore, favorable government policies aimed at promoting marine tourism, coupled with innovative marketing and organizational strategies, have further bolstered the demand for new passenger vessels and ships. As a result, this trend has opened up new opportunities for marine gensets companies to tap into the market's growth potential.

Key Market Drivers

Expanding Global Shipping Industry

The expansion of the global shipping industry is a key driver propelling the growth of the marine gensets market. The shipping industry plays a vital role in international trade, facilitating the transportation of goods and commodities across oceans worldwide. This industry heavily relies on vessels powered by marine gensets to meet their electrical power requirements.

With the advent of globalization and the increasing demand for goods, the volume of maritime trade has shown a steady rise. The growth of e-commerce and the necessity for efficient supply chain logistics further contribute to the expansion of the shipping sector. Consequently, there is a surging demand for new vessels and the retrofitting of existing ones with advanced marine gensets to ensure dependable onboard power generation.

The marine gensets market is poised to benefit from this trend as shipbuilders, shipowners, and operators actively seek reliable and fuel-efficient genset solutions to power essential ship systems, including navigation, communication, cargo handling, and passenger services. The need to comply with stringent emissions regulations also serves as an impetus for the adoption of cleaner and more efficient gensets, thereby driving further market growth.

Stringent Environmental Regulations

Stringent environmental regulations and an increased focus on reducing emissions from marine vessels are significant factors shaping the marine gensets market. In response to global environmental concerns, regulatory bodies and international organizations have implemented strict emission standards on ships to mitigate their impact on air quality and climate change.

One notable regulation driving change in the maritime industry is the International Maritime Organization's (IMO) MARPOL Annex VI. This regulation establishes limits on sulfur content in marine fuels, requiring the use of low-sulfur fuels or the installation of exhaust gas cleaning systems (scrubbers) to reduce sulfur oxide (SOx) emissions.

To comply with these regulations, shipowners and operators are increasingly adopting cleaner and more efficient genset technologies. Marine gensets powered by liquefied natural gas (LNG) and other alternative fuels, as well as those equipped with advanced emission control systems, are gaining prominence in the market. These gensets assist vessels in reducing their emissions footprint, ensuring compliance with stringent standards while maintaining reliable power generation.

Growing Demand for Energy-Efficient Solutions

The increasing demand for energy-efficient solutions in the maritime sector is a significant factor influencing the marine gensets market. Energy efficiency has become a critical concern for shipowners and operators due to its direct impact on operational costs and environmental sustainability.

Modern marine gensets are engineered to optimize fuel consumption and power generation efficiency. These gensets incorporate advanced technologies, including variable speed control, load management, and intelligent power management systems. For instance, variable speed gensets can adapt their engine speed based on the vessel's power requirements, minimizing fuel consumption during periods of low demand.

Reducing fuel consumption not only reduces operational costs but also aligns with environmental objectives by lowering greenhouse gas emissions. Consequently, shipowners and operators are increasingly investing in energy-efficient marine gensets to enhance the sustainability profiles of their vessels.

Moreover, there is a growing demand for hybrid and integrated power systems in the maritime industry. These systems integrate multiple power sources, such as gensets, batteries, and renewable energy, to optimize energy usage and decrease fuel consumption. The marine gensets market benefits from this trend as shipbuilders and retrofit projects incorporate these innovative solutions into their vessels.

In conclusion, the expansion of the global shipping industry, stringent environmental regulations, and the increasing demand for energy-efficient solutions are three major factors driving the growth of the marine gensets market. As the maritime sector continues to evolve to address sustainability and regulatory challenges, the demand for advanced and eco-friendly genset technologies is expected to remain strong.

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Key Market Challenges

Stringent Emission Regulations and Environmental Compliance

One of the significant challenges confronting the global marine gensets market is the increasingly stringent emission regulations and environmental compliance requirements imposed on marine vessels. Governments and international organizations are implementing rigorous emissions standards to mitigate air pollution and greenhouse gas emissions from ships, particularly in environmentally sensitive areas like coastal regions and ports.

In order to comply with these regulations, marine genset manufacturers must develop and offer gensets that meet or surpass emission limits, primarily concerning nitrogen oxides (NOx), sulfur oxides (SOx), particulate matter, and carbon emissions. Achieving compliance often necessitates the integration of sophisticated emission control technologies, such as selective catalytic reduction (SCR) systems, exhaust gas recirculation (EGR), or exhaust gas cleaning systems (scrubbers).

However, these emission control technologies can introduce complexity and cost to marine genset systems. Moreover, shipowners and operators must invest in the installation, maintenance, and monitoring of these systems. Navigating the evolving regulatory landscape and ensuring ongoing compliance pose ongoing challenges for both manufacturers and vessel owners.

Fluctuations in Maritime Shipping and Offshore Industries

The global marine gensets market is intricately linked to the maritime shipping and offshore industries, which are susceptible to economic and market fluctuations. These industries are influenced by factors such as global trade patterns, oil prices, economic recessions, and geopolitical tensions. As a result, the demand for new vessels and genset installations can vary significantly from year to year.

During periods of economic downturns or reduced global trade, shipowners may postpone or cancel vessel orders, leading to decreased demand for marine gensets. Additionally, offshore exploration and production activities, particularly in the oil and gas sector, can be highly cyclical. A downturn in oil prices can lead to reduced investments in offshore platforms and vessels, impacting the genset market.

Manufacturers in the marine gensets sector must remain agile and adaptable to these market fluctuations. Maintaining a diversified product portfolio that caters to different vessel types and industries can help mitigate the impact of market downturns. Building strong relationships with customers and providing aftersales services and support are crucial to retaining market share during challenging economic times.

Technological Advancements and Alternative Power Sources

As technology continues to advance rapidly, the marine gensets market faces the challenge of keeping pace with evolving trends and alternative power sources. One notable trend is the development and adoption of alternative marine propulsion systems, such as battery-electric and hydrogen fuel cell technologies. These alternatives aim to reduce greenhouse gas emissions and offer quieter and more environmentally friendly solutions.

While traditional diesel gensets remain prevalent in marine applications, the transition to alternative power sources may disrupt the market's status quo. Shipowners and operators are exploring the feasibility of integrating batteries, fuel cells, and hybrid systems into their vessels. These technologies have the potential to reduce reliance on gensets and fossil fuels, particularly in port areas with emission restrictions.

To address this challenge, marine genset manufacturers must consider diversifying their product offerings to include hybrid genset solutions that can work in tandem with alternative power sources. Additionally, investing in research and development to improve the efficiency and emissions profile of gensets can help maintain their relevance in the evolving maritime landscape.

In conclusion, the global marine gensets market faces challenges related to emissions compliance, market fluctuations in maritime and offshore industries, and the emergence of alternative power sources. Navigating these challenges requires innovation, flexibility, and a commitment to meeting the evolving needs of shipowners and operators in an environmentally conscious and economically dynamic sector.

Key Market Trends

Growing Emphasis on Emission Reduction and Environmental Compliance

One noteworthy trend in the global marine gensets market is the growing emphasis on emission reduction and environmental compliance within the maritime industry. As concerns about air quality and greenhouse gas emissions continue to escalate, stricter international regulations are being implemented to restrict emissions from vessels, including those produced by onboard power generation systems like marine gensets. To adhere to these regulations, shipbuilders and ship operators are increasingly adopting cleaner and more efficient power generation solutions. This trend has resulted in a shift away from conventional diesel gensets towards more eco-friendly alternatives, such as gas-powered gensets, hybrid propulsion systems, and electric propulsion solutions. Gas-powered gensets, for example, emit lower levels of sulfur oxides (SOx), nitrogen oxides (NOx), and particulate matter compared to diesel gensets.

Furthermore, advancements in emission control technologies, including exhaust gas cleaning systems (scrubbers) and selective catalytic reduction (SCR) systems, are being integrated with marine gensets to further minimize pollutants. Manufacturers are investing in research and development to design gensets that comply with the International Maritime Organization's (IMO) Tier III emission standards, which impose stringent emission limits in designated emission control areas (ECAs). This shift towards environmentally friendly marine gensets aligns with the broader sustainability objectives of the maritime industry and addresses the increasing scrutiny on the environmental impact of shipping operations.

Adoption of Advanced Power Management and Control Systems

Another significant trend observed in the global marine gensets market is the increasing adoption of advanced power management and control systems. Modern vessels are equipped with a diverse range of electrical and electronic systems, such as navigation equipment, communication systems, lighting, HVAC, and more. Effectively managing and distributing power to meet the varied energy demands of these systems is crucial for ensuring safe and reliable ship operation.

Advanced power management and control systems, often integrated with marine gensets, offer ship operators the capability to optimize power generation and distribution. These systems leverage real-time data and predictive algorithms to determine the most efficient configuration of power sources, including gensets, batteries, and shore power connections. They also play a crucial role in minimizing fuel consumption and reducing emissions by operating gensets at optimal loads.

Furthermore, these systems provide valuable insights into power usage, enabling operators to identify opportunities for energy conservation and load shedding during peak demand periods. This contributes to improved operational efficiency, reduced maintenance costs, and enhanced overall system reliability.

The growing adoption of digitalization and the Internet of Things (IoT) is driving the development of intelligent power management and control solutions. Remote monitoring and diagnostics capabilities enable proactive maintenance, resulting in reduced downtime and improved genset reliability. Consequently, ship operators are increasingly seeking gensets equipped with these advanced control systems to optimize their vessel's energy management.

Segmental Insights

Propulsion Type Insights

The Diesel Power segment holds a significant market share in the Global Marine Gensets Market. The diesel power segment comprises marine gensets equipped with diesel engines, commonly utilized for generating electrical power on various commercial and naval vessels, including cargo ships, cruise liners, fishing vessels, and military vessels. Diesel gensets are preferred due to their capability to provide continuous power and withstand the challenging conditions of marine environments.

Diesel gensets are renowned for their reliability and durability, making them the preferred choice for marine applications. They are specifically designed to operate efficiently in demanding marine conditions, such as high humidity, saltwater exposure, and temperature fluctuations.

Cargo ships and container vessels heavily rely on diesel-powered gensets to generate electricity for onboard systems, cargo handling equipment, navigation, and propulsion. A notable trend in this segment is the adoption of more fuel-efficient and emissions-compliant diesel gensets to reduce operating costs and minimize environmental impact.

Cruise liners and passenger ferries utilize diesel gensets to supply electrical power for hotel services, lighting, air conditioning, and propulsion. An emerging trend in this segment involves the integration of advanced diesel engines with emission control systems to meet stringent environmental regulations while ensuring passenger comfort.

Fishing vessels employ diesel gensets to power refrigeration and freezing equipment for the preservation of catch. The prevailing trend in this domain is the adoption of gensets with improved fuel efficiency and emissions performance to reduce operating costs and align with sustainability objectives.

End User Insights

The Commercial Sector segment holds a significant market share in the Global Marine Gensets Market. The commercial sector within the marine gensets market encompasses a wide range of vessels and applications, including cargo ships, passenger ferries, cruise liners, fishing vessels, offshore support vessels, and more. These vessels rely on marine gensets to provide electrical power for propulsion, onboard systems, amenities, and various operations.

Within the commercial sector, there is a diverse array of vessel types and sizes, each with specific power generation requirements. For instance, cruise liners demand substantial power for passenger amenities, while fishing vessels prioritize power for refrigeration and processing equipment.

Economic factors, such as global trade, tourism trends, and fisheries management, exert influence on the demand for commercial vessels and, consequently, the marine gensets utilized in these vessels. Economic downturns or disruptions can impact vessel orders and operations.

In the commercial sector, cruise liners and passenger ferries rely on marine gensets to power propulsion systems, hotel services, lighting, air conditioning, and entertainment facilities. The prevailing trend in this segment is the adoption of cleaner and more efficient gensets to reduce emissions and enhance passenger experience.

Fishing vessels depend on marine gensets to power refrigeration and freezing equipment for storing and preserving catch. The current trend in this segment involves the adoption of fuel-efficient gensets capable of operating under harsh marine conditions.

Offshore support vessels play a crucial role in supporting offshore oil and gas operations. These vessels necessitate reliable gensets for various functions, including crane operations, navigation systems, and accommodation. The prevailing trend in this segment revolves around the integration of advanced genset technologies to enhance performance and safety.

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Regional Insights

The Asia Pacific region is expected to dominate the market during the forecast period.

The Asia-Pacific region plays a pivotal role in the marine gensets market due to factors like the expanding maritime trade, increasing vessel numbers, offshore exploration and production activities, and the development of maritime infrastructure.

With some of the world's busiest ports and trade routes, the Asia-Pacific region experiences continuous growth in international shipping and trade, driving the demand for marine gensets to power various vessel types, including container ships, bulk carriers, and oil tankers.

Leading the global shipbuilding industry, countries in the Asia-Pacific region, especially China and South Korea, manufacture a significant number of new vessels annually, often equipped with marine gensets. The growth of the shipbuilding sector directly impacts the demand for gensets in the region.

The thriving fishing industry in the Asia-Pacific region relies on marine gensets for various fishing vessels. Moreover, the region's increasing offshore oil and gas exploration and production activities create opportunities for genset installations on offshore platforms and support vessels.

Environmental regulations and concerns regarding air pollution and greenhouse gas emissions are gaining prominence in the Asia-Pacific region. Shipowners are increasingly seeking marine gensets that comply with these regulations to meet international emissions standards. Manufacturers are responding by developing low-emission and cleaner genset technologies.

The use of liquefied natural gas (LNG) as a fuel source for marine gensets is gaining traction in the Asia-Pacific region. LNG-powered gensets offer lower emissions and reduced operating costs compared to traditional diesel gensets. Countries with abundant LNG resources, such as Australia, are at the forefront of adopting this technology.

Recent Developments

On February 12, 2020, Cummins unveiled an expanded range of ignition-protected marine gensets. This model is specifically designed to provide a safe and reliable power supply to on-board amenities on both diesel and gasoline powered boats.
On February 21, 2021, Man Energy Solutions received an order from Ocean Industries for compliant engines for the Royal Canadian Navy Thugs. This order includes ship service diesel generator sets, engine technology, and tier III compliances from Man Energy Solution.

Key Market Players

Caterpillar Inc.
ABB Ltd.
Cummins, Inc.
Mitsubishi Heavy Industries
Kohler Co.
Yanmar Co., Ltd.
Rolls-Royce Power System AG
Anglo Belgian Corporation
Ettes Power Machinery Ltd
Scania AB

By Vessel Type

By Propulsion Type

By Power Rating

By End User

By Region

• Marine Vessel

• Commercial Vessel

• Off-shore Vessel

• Others

• Gas Power

• Diesel Power

• Hybrid Generation Power

• Others

• Below 1MW 1-5MW

• 5-10MW

• Above 10MW

• Commercial Sector

• Marine Sector

• Others

• North America

• Europe

• South America

• Middle East & Africa

• Asia Pacific

Report Scope:

In this report, the Global Marine Gensets Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Global Marine Gensets Market, By Vessel Type:

o Marine Vessel

o Commercial Vessel

o Off-shore Vessel

o Others

Global Marine Gensets Market, By Propulsion Type:

o Gas Power

o Diesel Power

o Hybrid Generation Power

o Others

Global Marine Gensets Market, By Power Rating:

o Below 1MW 1-5MW

o 5-10MW

o Above 10MW

Global Marine Gensets Market, By End User:

o Commercial Sector

o Marine Sector

o Others

Global Marine Gensets Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe

§ France

§ United Kingdom

§ Italy

§ Germany

§ Spain

o Asia-Pacific

§ China

§ India

§ Japan

§ Australia

§ South Korea

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East & Africa

§ South Africa

§ Saudi Arabia

§ UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Marine Gensets Market.

Available Customizations:

Global Marine Gensets Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Marine Gensets Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

4. Voice of Customers

5. Global Marine Gensets Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Vessel Type (Marine Vessel, Commercial Vessel, Off-shore Vessel and Others)

5.2.2. By Propulsion Type (Gas Power, Diesel Power, Hybrid Generation Power and Others)

5.2.3. By Power Rating (Below 1MW, 1-5MW, 5-10MW and Above 10MW)

5.2.4. By End User (Commercial Sector, Marine Sector and Others)

5.2.5. By Region

5.3. By Company (2022)

5.4. Market Map

6. North America Marine Gensets Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Vessel Type

6.2.2. By Propulsion Type

6.2.3. By Power Rating

6.2.4. By End User

6.2.5. By Country

6.3. North America: Country Analysis

6.3.1. United States Marine Gensets Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Vessel Type

6.3.1.2.2. By Propulsion Type

6.3.1.2.3. By Power Rating

6.3.1.2.4. By End User

6.3.2. Canada Marine Gensets Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Vessel Type

6.3.2.2.2. By Propulsion Type

6.3.2.2.3. By Power Rating

6.3.2.2.4. By End User

6.3.3. Mexico Marine Gensets Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Vessel Type

6.3.3.2.2. By Propulsion Type

6.3.3.2.3. By Power Rating

6.3.3.2.4. By End User

7. Asia-Pacific Marine Gensets Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Vessel Type

7.2.2. By Propulsion Type

7.2.3. By Power Rating

7.2.4. By End User By Country

7.3. Asia-Pacific: Country Analysis

7.3.1. China Marine Gensets Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Vessel Type

7.3.1.2.2. By Propulsion Type

7.3.1.2.3. By Power Rating

7.3.1.2.4. By End User

7.3.2. India Marine Gensets Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Vessel Type

7.3.2.2.2. By Propulsion Type

7.3.2.2.3. By Power Rating

7.3.2.2.4. By End User

7.3.3. Japan Marine Gensets Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Vessel Type

7.3.3.2.2. By Propulsion Type

7.3.3.2.3. By Power Rating

7.3.3.2.4. By End User

7.3.4. South Korea Marine Gensets Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Vessel Type

7.3.4.2.2. By Propulsion Type

7.3.4.2.3. By Power Rating

7.3.4.2.4. By End User

7.3.5. Australia Marine Gensets Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Vessel Type

7.3.5.2.2. By Propulsion Type

7.3.5.2.3. By Power Rating

7.3.5.2.4. By End User

8. Europe Marine Gensets Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Vessel Type

8.2.2. By Propulsion Type

8.2.3. By Power Rating

8.2.4. By End User

8.2.5. By Country

8.3. Europe: Country Analysis

8.3.1. Germany Marine Gensets Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Vessel Type

8.3.1.2.2. By Propulsion Type

8.3.1.2.3. By Power Rating

8.3.1.2.4. By End User

8.3.2. United Kingdom Marine Gensets Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Vessel Type

8.3.2.2.2. By Propulsion Type

8.3.2.2.3. By Power Rating

8.3.2.2.4. By End User

8.3.3. France Marine Gensets Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Vessel Type

8.3.3.2.2. By Propulsion Type

8.3.3.2.3. By Power Rating

8.3.3.2.4. By End User

8.3.4. Italy Marine Gensets Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Vessel Type

8.3.4.2.2. By Propulsion Type

8.3.4.2.3. By Power Rating

8.3.4.2.4. By End User

8.3.5. Spain Marine Gensets Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Vessel Type

8.3.5.2.2. By Propulsion Type

8.3.5.2.3. By Power Rating

8.3.5.2.4. By End User

9. South America Marine Gensets Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Vessel Type

9.2.2. By Propulsion Type

9.2.3. By Power Rating

9.2.4. By End User

9.2.5. By Country

9.3. South America: Country Analysis

9.3.1. Brazil Marine Gensets Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Vessel Type

9.3.1.2.2. By Propulsion Type

9.3.1.2.3. By Power Rating

9.3.1.2.4. By End User

9.3.2. Argentina Marine Gensets Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Vessel Type

9.3.2.2.2. By Propulsion Type

9.3.2.2.3. By Power Rating

9.3.2.2.4. By End User

9.3.3. Colombia Marine Gensets Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Vessel Type

9.3.3.2.2. By Propulsion Type

9.3.3.2.3. By Power Rating

9.3.3.2.4. By End User

10. Middle East & Africa Marine Gensets Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Vessel Type

10.2.2. By Propulsion Type

10.2.3. By Power Rating

10.2.4. By End User

10.2.5. By Country

10.3. Middle East & Africa: Country Analysis

10.3.1. Saudi Arabia Marine Gensets Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Vessel Type

10.3.1.2.2. By Propulsion Type

10.3.1.2.3. By Power Rating

10.3.1.2.4. By End User

10.3.2. South Africa Marine Gensets Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Vessel Type

10.3.2.2.2. By Propulsion Type

10.3.2.2.3. By Power Rating

10.3.2.2.4. By End User

10.3.3. UAE Marine Gensets Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Vessel Type

10.3.3.2.2. By Propulsion Type

10.3.3.2.3. By Power Rating

10.3.3.2.4. By End User

11. Market Dynamics

11.1. Drivers

11.2. Challenge

12. Market Trends & Developments

13. Company Profiles

13.1. Caterpillar Inc.

13.1.1. Business Overview

13.1.2. Key Revenue and Financials

13.1.3. Recent Developments

13.1.4. Key Personnel

13.1.5. Key Product/Services

13.2. ABB Ltd.

13.2.1. Business Overview

13.2.2. Key Revenue and Financials

13.2.3. Recent Developments

13.2.4. Key Personnel

13.2.5. Key Product/Services

13.3. Cummins, Inc.

13.3.1. Business Overview

13.3.2. Key Revenue and Financials

13.3.3. Recent Developments

13.3.4. Key Personnel

13.3.5. Key Product/Services

13.4. Mitsubishi Heavy Industries

13.4.1. Business Overview

13.4.2. Key Revenue and Financials

13.4.3. Recent Developments

13.4.4. Key Personnel

13.4.5. Key Product/Services

13.5. Kohler Co.

13.5.1. Business Overview

13.5.2. Key Revenue and Financials

13.5.3. Recent Developments

13.5.4. Key Personnel

13.5.5. Key Product/Services

13.6. Yanmar Co., Ltd.

13.6.1. Business Overview

13.6.2. Key Revenue and Financials

13.6.3. Recent Developments

13.6.4. Key Personnel

13.6.5. Key Product/Services

13.7. Rolls-Royce Power System AG

13.7.1. Business Overview

13.7.2. Key Revenue and Financials

13.7.3. Recent Developments

13.7.4. Key Personnel

13.7.5. Key Product/Services

13.8. Anglo Belgian Corporation

13.8.1. Business Overview

13.8.2. Key Revenue and Financials

13.8.3. Recent Developments

13.8.4. Key Personnel

13.8.5. Key Product/Services

13.9. Ettes Power Machinery Ltd

13.9.1. Business Overview

13.9.2. Key Revenue and Financials

13.9.3. Recent Developments

13.9.4. Key Personnel

13.9.5. Key Product/Services

13.10. Scania AB

13.10.1. Business Overview

13.10.2. Key Revenue and Financials

13.10.3. Recent Developments

13.10.4. Key Personnel

13.10.5. Key Product/Services

14. Strategic Recommendations

15. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global Marine Gensets Market in 2022?

The market size of the Global Marine Gensets Market was USD 3.26 billion in 2022.

Which was the dominant segment in the Global Marine Gensets Market in 2022?

Diesel Power segment was the dominant segment in the Global Marine Gensets Market in 2022. The diesel power segment comprises marine gensets equipped with diesel engines, commonly utilized for generating electrical power on various commercial and naval vessels, including cargo ships, cruise liners, fishing vessels, and military vessels. Diesel gensets are preferred due to their capability to provide continuous power and withstand the challenging conditions of marine environments.