Competitive intelligence provides details about the marine diesel engine market size by region by analyzing the market trends in the previous years.
According to the report published by Progressive Markets, "Global Marine Diesel Engines Market- is projected to grow at a CAGR of 3.6% during the forecast period, 2017–2025. The report is a compilation of crucial data acquired from extensive research carried out by core industry experts.
Vital statistics, tables, and figures are included to add credibility to the information presented in the global marine diesel engine market report.
Marine diesel engines are widely used in boats, submarines, ships, and other marine transportation systems for propulsion or to provide auxiliary power. The use of diesel as the fuel source results in better mileage.
These engines can convert almost 45-50% of the fuel into power. Based on the application and the requirements, the types of engines include 2-stroke and 4-stroke engines available in the low, medium, and high-speed ranges.
Owing to the shorter stroke length, 2-stroke engines consume larger quantities of fuel, however, gives a better power output compared to the 4-stroke engines. 2-stroke engines are ideal for low-speed applications and, whereas the systems used to provide auxiliary power can be powered driven by 4-stroke engines that produce less smoke.
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Drivers & Restraints:
The report presents an elaborate description of the top market dynamic factors that play a decisive role in the growth and development of the global marine diesel engines market. Advancements in technology have resulted in efficient waterway transportation systems, thus fueling the need for marine diesel engines.
The rise in demand for commercial vessels owing to the growth in seaborne trade is expected to lead to the expansion of the marine diesel engines market. With the expansion of the luxury travel industry, recent years have witnessed a surge in the number of pleasure vessels.
However, the stringent norms and mandates, imposed by the regulatory bodies and government policies, on diesel engines restrict the overall development of the market.
The study analyzes the market across four major categories- engine power, vessel type, speed, and geography. On the basis of the engine=s power, marine diesel engines are available with power ratings of 1HP, 1-5HP, 5-10 HP, 10-20 HP, and above 20 HP.
These engines are used in commercial vessels, offshore support vessels, and other marine transportation systems. Based on the speed, they are classified as low speed, medium speed, or high-speed engines.
The report includes the marine diesel engines market forecast of each of the aforesaid segments for the regions of North America, Europe, Asia-Pacific, and LAMEA. A detailed marine diesel engines market share analysis (2015) of every segment has been elaborately covered.
The leading players profiled in the report include Caterpillar, Inc., Volvo Group, Scania AB, John Deere, Rolls-Royce Power Systems AG, Dresser-Rand, Deutz AG, GE Transportation, Mitsubishi Heavy Industries, and Daihatsu Diesel MFG. Co. Ltd. Information on the overview of the organization, their financials and business segments, and the recent developments made by them assist the entry-level organizations and other market players in gauging the current market scenario and assess the level of competition in the market.
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The marine diesel engines market report is a perfect tool for market players as it helps to determine the top impact factors and assists in formulating strategic business moves to expand their reach in the global market. Quantitative analysis of the current market identifies the prevailing growth opportunities.
The report also studies the impact of the driving factors, restraints, and opportunities for the overall development of the market. Porter's Five Forces Model analyzes the influence of the bargaining powers of the buyers and suppliers, along with the threat of new entrants and substitute products and the intensity of competitive rivalry in the marine diesel engines industry.
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