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Marine Gensets Market Share will grow at 4.7% CAGR to hit $6 Bn by 2025

Author : Rahul Sankrityayan | Published Date : 2019-09-03 

Global Marine Gensets Market is anticipated to grow over 4% by 2025. Increasing seaborne trade activities across the emerging economies along with rising investments in the shipping industry is set to encourage the business outlook. Growing merchandise demand coupled with increasing inter-regional trade will boost the industry scenario. The current demographic shifts combined with rising cross border transportation is anticipated to drive the product installation.

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The U.S. Marine Gensets Market is anticipated to grow owing to increasing focus toward technological advancements along with large scale shale production. The U.S., in 2015, implemented IMO tier III mandates to reduce the nitrogen emissions by limiting the utilization up to 0.5%. Rising focus toward technical enhancements coupled with adoption of sustainable units will further boost the product penetration.

Increasing awareness toward adverse effects of sulfur & nitrogen emissions coupled with rising environment & health concerns will stimulate the hybrid systems demand. Widespread adoption of sustainable units along with rising research and development initiatives for improvisation in systems will propel the product penetration. Moreover, increase in efficiency and operational capabilities coupled with reduced noise levels are the underline parameters augmenting the business scenario.

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Asia Pacific marine gensets market will experience a considerable growth on account of easy availability of raw material along with affordable labor costs. Stringent government protocols to prevent pollution from ships coupled with introduction of norms & regulations to support maritime safety and security will complement the business landscape. In addition, regulatory pressure on ship manufacturers toward usage of cleaner fuels will augment the product demand. Moreover, improved standards of living owing to rise in disposable incomes will support the expansion in tourism industry thereby driving the business growth.

Marine Gensets Market from Commercial application is projected to grow owing to increasing regulatory policies and investments to achieve energy efficiency. Global urbanization, upsurge in demand for natural gas along with rise in demand for retrofitting of prevalent vessels is set to foster the industry landscape. In addition, long international voyage coupled with exploration & development of unconventional gas reserves will further strengthen the business scenario.

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<1000 kW marine gensets market will witness growth over 4% by 2025. Widespread usage across the commercial & recreational vessels coupled with increase in energy consumption will strengthen the industry landscape. Moreover, collaborations between local equipment manufacturers and shipyards specifically in Asia Pacific will positively influence the product demand.

Key industry participants for marine gensets market include Volvo Penta, ABB, Wartsila, Caterpillar, Kongsberg, Cummins, Scania, MAN Energy Solutions, Anglo Belgian, Sole Diesel, Kohler, Ettes Power Machinery and Weicha.

Partial Table of Contents (ToC) of the report:

Chapter 4 Global Marine Gensets Market, By Fuel

4.1 Global marine gensets market share by fuel, 2018 & 2025

4.2 MDO

4.2.1 Global market from MDO, 2014 – 2025

4.2.2 Global market from MDO, by region, 2014 - 2025

4.3 MGO

4.3.1 Global market from MGO, 2014 – 2025

4.3.2 Global market from MGO, by region, 2014 - 2025

4.4 LNG

4.4.1 Global market from LNG, 2014 – 2025

4.4.2 Global market from LNG, by region, 2014 - 2025

4.5 Hybrid

4.5.1 Global market from hybrid, 2014 – 2025

4.5.2 Global market from hybrid, by region, 2014 - 2025

4.6 Others

4.6.1 Global market from others, 2014 – 2025

4.6.2 Global market from others, by region, 2014 - 2025

Chapter 5 Global Marine Gensets Market, By Power Rating

5.1 Global marine gensets market share by power rating, 2018 & 2025

5.2 <1,000 kW

5.2.1 Global market from <1,000 kW, 2014 – 2025

5.2.2 Global market from <1,000 kW, by region, 2014 - 2025

5.3 1,000-5,000 kW

5.3.1 Global market from 1,000-5,000 kW, 2014 – 2025

5.3.2 Global market from 1,000-5,000 kW, by region, 2014 - 2025

5.4 5,000-10,000 kW

5.4.1 Global market from 5,000-10,000 kW, 2014 – 2025

5.4.2 Global market from 5,000-10,000 kW, by region, 2014 - 2025

5.5 10,000-20,000 kW

5.5.1 Global market from 10,000-20,000 kW, 2014 – 2025

5.5.2 Global market from 10,000-20,000 kW, by region, 2014 - 2025

5.6 >20,000 kW

5.6.1 Global market from >20,000 kW, 2014 – 2025

5.6.2 Global market from >20,000 kW, by region, 2014 – 2025

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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