Sector Influencing 2.3% CAGR for Marine Propulsion Market (2021-2027)

The global Marine Propulsion market was valued at US$ 11320 million in 2020 and it is expected to reach US$ 13270 million by the end of 2027, growing at a CAGR of 2.3% during 2021-2027.

Marine propulsion is a mechanism or system used to generate thrust to move a ship or boat across water. The setup of a propulsion system depends on the vessel size, transport system, and type of operation. Diesel marine propulsion system is a common type of marine propulsion system.

The segment constitutes more than 46% share of the global marine propulsion market. Diesel marine propulsion systems are used in almost all types of vessels such as mall boats, ferries, defense vessels, and recreational vessels. In full electric marine propulsion systems, the engine is directly connected to the generator. Full electric marine propulsion enhances the overall efficiency of the vessel and also reduces the carbon footprint. Full electric marine propulsion system consists of a series of motors and generators. Electric power is transmitted from the engine to the propeller shaft through the motor controller and electric motor.

Global Marine Propulsion Market: Drivers and Restrains

The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.

A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.

Global Marine Propulsion Market: Segment Analysis

The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027.

Key Companies profiled in this report are Cummins, Caterpillar, AB Volvo Penta, Bae Systems, Wärtsilä, Rolls Royce, Niigata Power Systems, Fairbanks Morse Engine, Masson-Marine, Ge, Steyr Motors, Man Diesel & Turbo, Torqeedo and more in terms of market share by sales, revenue, average pricing, product type, margins, recent developments etc.

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Segment by Type

  • Full Electric
  • Diesel
  • Renewable
  • Nuclear
  • Gas turbine
  • Fuel Cell
  • Hybrid
  • Others

Segment by Application

  • Inland Waterways
  • Coastal/Cross-border Waterways

Table of Content:

1 Marine Propulsion Market Overview

2 Marine Propulsion Market Competition by Manufacturers

3 Marine Propulsion Retrospective Market Scenario by Region

4 Global Marine Propulsion Historic Market Analysis by Type

5 Global Marine Propulsion Historic Market Analysis by Application

6 Key Companies Profiled

7 Marine Propulsion Manufacturing Cost Analysis

8 Marketing Channel, Distributors and Customers

9 Marine Propulsion Market Dynamics

10 Global Marine Propulsion Market Forecast

11 Research Finding and Conclusion

12 Methodology and Data Source

13 Forecast by Type and by Application (2022-2027)

14 Research Finding and Conclusion

15 Methodology and Data Source

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