Marine Diesel Engines Market to Perceive Substantial Growth During 2026
Marine
diesel engines can be defined as engines that operate on diesel fuel.
These are used as the primary source of providing main propulsion to
ships and turn propellers of a ship. There are various types of
marine engines; for example, some marine engines use gas as fuel. Of
the many marine engines, marine diesel engines have the highest
thermal efficiency, i.e. the ability to extract energy out of fuel.
Hence, it is a commonly used type of marine engine.
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The
global marine diesel engines market has been expanding primarily due
to the need for the shipping industry to reduce carbon emissions. The
shipping industry is focusing on the development of higher-efficient
diesel engines, which use less diesel while providing more propulsion
to the vessel. On the other hand, the recent downturn in the shipping
and shipbuilding industry has hampered the market. Shipbuilding
orders have declined along with the decrease in shipping rates. a
recovery is expected during the forecast period; however, it would
depend on several factors such as the price of crude oil and the
economic growth rate of various countries.
The
global marine diesel engines market can be segmented based on type,
speed, vessel, and region.
In
terms of type, the global marine diesel engines market can be
classified into 2-stroke engines and 4-stroke engines. 2-stroke
engine is a commonly used type of engine despite the fact that it
causes more pollution. This trend is expected to continue during the
forecast period. The 4-stroke engine is mostly used for providing
auxiliary power to vessels.
In
terms of speed, the global marine diesel engines market can be
segregated into low speed, medium speed, and high speed engines. Low
speed engines are commonly used for recreational purposes, while
medium speed engines are used commonly in inland waters. On the other
hand, high speed engines are employed by the navy and for commercial
purposes on the high seas.
In
terms of vessel, the global marine diesel engines market can be
divided into merchant, offshore, navy, and recreational vessels.
Various types of merchant vessels include containers, tankers, bulk
carriers, gas carriers, and roll-on/roll-off vessels. Offshore
vessels include drilling rigs and ships, anchor handling vessels,
offshore research vessels, floating production units, and platform
supply vessels. Recreational vessels comprise cruise vessels,
passenger ferries, and yachts. Navy vessels include warships,
submarines, and other research vessels.
In
terms of region, the global marine diesel engines market can be split
into North America, Latin America, Europe, Asia Pacific and Middle
East & Africa. Developed countries in North America and Latin
America are the traditional markets for marine vessels; hence, these
are also the traditional regions of the marine diesel engines market.
However, demand for marine diesel engines is expected to be higher in
emerging regions during the forecast period.
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The
global marine diesel engines market is vast; many local and global
companies operate in the market. Key players operating in the market
include Yanmar Marine International B.V. (the Netherlands), John
Deere (the U.S.), Wartsila (Finland), Mitsubishi Corporation (Japan),
Caterpillar (the U.S.), Cummins Inc. (the U.S.), MAN SE (Germany),
BMW AG (Germany), International Diesel Engines (the U.S.), and
Daimler AG (Germany).
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