fbpx

Marine Gensets Market to exceed $5.40 Billion by 2021

According to the new market research report Marine Gensets Market by Vessel type (Commercial vessel, Defense vessel, & Offshore vessels), Fuel (Diesel fuel, Gas fuel, & Hybrid fuel), Rating (less than 1,000kW, 1,001-3,000 kW, 3,001-10,000kW & more than 10,000kW) & Region – Global Forecast to 2021″, published by MarketsandMarkets™, The global marine gensets market is forecasted to grow from USD 4.50 Billion in 2016 to USD 5.40 Billion by 2021 at a CAGR of 3.71%. The marine gensets market is mainly driven by growth in ship-building industry and enforcement of stringent emission norms by IMO (International Maritime Organization), US EPA, and European Commission.

Don’t miss out on business opportunities in Marine Gensets Market. Speak to our analyst and gain crucial industry insights that will help your business grow:

https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=89771436

The demand for marine genset market is projected to be largest in Asia-Pacific region. The marine gensets market is mainly driven by the rise of ship-building industry, especially in China, South Korea, and Japan, which are the front runner of new-builds in 2015. Market players can see this as an opportunity to expand via new plants and facilities as well as joint ventures with local manufacturers to increase their revenue growth in this region.

Browse and in-depth TOC on “Marine Gensets Market

92 – Tables

55 – Figures

155 – Pages

 

View more detailed TOC @

https://www.marketsandmarkets.com/Market-Reports/marine-genset-market-89771436.html

Diesel fuel will dominate the marine gensets by fuel-type segment market. Diesel fuel marine gensets is estimated to lose some market share to natural gas and alternative fuel gensets. One of the factors working against diesel fuel marine gensets is the increasing stringency of emission regulations occurring globally. Despite this hindering factor, diesel fuel gensets are still in high demand as they offer several advantages compared with other fuel types such as a longer engine lifespan, lower maintenance costs, and safe fuel storage.

Asia-Pacific will lead marine gensets market

The report also segments the marine gensets market into six regions, namely, North America, Asia-Pacific, Europe, Middle East & Africa, and Latin America. Asia-Pacific region is expected to dominate the marine gensets market and is also expected to be the fastest growing in the projected period. The marine gensets market is mainly driven by the rise of ship-building industry, especially in China, South Korea, and Japan, which accounted for more than 80% of new-builds in 2015. China will be the fastest growing market for marine gensets with growing investments in the ship-building industry.

Request for Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=89771436

Caterpillar Inc., Cummins Inc., MAN Diesel & Turbo SE (Germany), Wärtsilä (Finland), Mitsubishi Heavy Industries (Japan), Rolls-Royce Power Systems AG (Germany), Yanmar (Japan), Wärtsilä (Finland)  and Deutz AG (Germany) are the market leaders of marine gensets market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.
630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

Email: sales@marketsandmarkets.com

You May Also Like