Overview:

Propulsion engines in marine industry is essential to propel the marine asset against natural forces (air & water drag), decelerate & stop and to keep it in the desired position at the surface or under water. Steering of ships on surface or under water is not possible without propulsion, as all its rudders work dynamically to overcome waters buoyancy force. In case of non-propelled barges, crawling can be used in assistance with its anchor pattern to move the marine asset along the sea floor. This crawling is recommended for only a few meters since the sea bed is comparatively soft and muddy. Now a days, even construction barges are being made self-propelled to reduce overall operational costs. Marine propulsion engines are powered by internal combustion engines that derive its power from heavy fuel, diesel oil, natural gas, solar power, wind turbines and LNG.

A marine propulsion engine consists of three parts: an energy source (human/animal rowing, fuel energy and energy collected from external source like wind and solar power), an engine that transforms it into mechanical energy, and a thruster that pushes the water backwards for its forward movement. During 18th century, steam engines and paddle wheel was used as thruster for mechanical propulsion of the ship. Due to advancement in technologies, the steam engine was slowly replaced by the diesel powered engines with reduced engine size, lower maintenance and suitable for longer voyages. Diesel-electric engines were introduced after 1900’s that reduced the shaft length to the propellers. The gas turbines replaced boilers in steam engines and eventually reduced the overall size of the propulsion system.

When the ship’s cargo is a fuel (oil tankers, LNG tankers, LPG Tankers) it could be used as fuel to propel the ship. LNG is the costliest of all the marine fuels and hence if it is the only fuel being used, marine operation would be un-economical as the cost involved to maintain its cryogenic condition is very high. Modern LNG marine propulsion system uses dual fuel diesel engines (marine diesel oil and natural gas burnt in a 4-stroke engine) and electrically driven propellers with high operational efficiency and very low on emissions.

Based on the engine type, the marine propulsion engine market is segmented into 2-stroke engine and 4-stroke engine. As of 2017, globally, 2-stroke engines dominated overall market value. With stringent mandates on sulfur reduction in fuels and overall marine pollution reduction, 4-stroke engines have gained immense impetus for its high operational efficiency. Thus, the 4-stroke engine type is expected to register highest growth rate during the forecast period from 2018 to 2026. Based on energy source, the market is segmented into diesel oil, natural gas and others (nuclear, solar, wind, etc.). Diesel oil energy source dominated the market in 2017 and the similar trend is expected during the forecast period. Based on vessel type, the market is segmented into bulk carriers, container ships, passenger ships, barges and others (yacht, offshore support vessels, tugs, etc.)

Geographically, the region with largest market share of the market was Asia Pacific (APAC) in 2017. APAC is the major trade hub globally with important ports like the Singapore port, Shanghai, Hong Kong, and port of Chiwan amongst others contributing to most of the trade activities. Europe is expected to follow APAC closely on account of high development and oil and gas sector in the North Sea. Despite high oil & gas activities and trades in the North America and European regions as of 2017, the MEA and Latin America are expected to register higher growth rate that the two matured markets due to growth in oil & gas exploration and sea trade activities.

Global Marine Propulsion Engine Market is segmented as below:

• By Engine Type
  • 2-stroke Engine
  • 4-stroke Engine
• By Energy Source
  • Diesel oil
  • Natural gas
  • Others (nuclear, solar, wind, etc.)
• By Vessel Type
  • Bulk carriers
  • Container ships
  • Passenger ships
  • Barges
  • Others (yacht, offshore support vessels, tugs, etc.)
• By Geography
  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • France
    • Germany
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Rest of APAC
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle-East & Africa (MEA)
    • GCC
    • Rest of MEA

Key players across the Marine Propulsion Engine Market value chain are:

Caterpillar, Inc., Cummins, Inc., Daihatsu Diesel Mfg. Co., Ltd., Fairbanks Morse Engine, GE Ltd., Hyundai Heavy Industries Co., Ltd., MAN Diesel & Turbo, Masson-Marine, Mitsubishi Heavy Industries Ltd., Nigata Power Systems Co., Ltd., Rolls-Royce, Plc., YANMAR Diesel Co., Ltd., and Wartsila

This report offers:

• Assessment of market trends for the period 2016-2026
• Historical (past) information for 2016 & 2017 and projections from 2018 through 2026 with respective CAGR’s for 2018-2026 considering 2017 as base year
• Market drivers, restraints, future prospects and competitive analysis (market positioning) of key market players
• Overview of the shipping industry structure
• Company profiling with major information about the key players operating in marine propulsion engines
• Estimation of market size in terms of value