Global Marine Propulsion Engine Market Share, Supply, Analysis and Forecast to 2025

WiseGuyReports have announced the addition of a new report titled “2019 Global and Regional Marine Propulsion Engine Market Research Report Forecast 2025”.

PUNE , MAHARASHTRA, INDIA, September 23, 2019 /EINPresswire.com/ — Report Description:

The Marine propulsion is the system that is used to generate a thrust that allows a small boat or even a ship to move across waterways. Modern ships are usually equipped with mechanical systems consisting of an electric motor turning a propeller, or even pump-jets or an impeller. The Global Marine Propulsion Engine Market was worth 9.68 Billion USD in 2018 and is estimated to reach 12.60 Billion USD by 2025 at a CAGR of 3.84 % during the forecast period

Talking about marine propulsion, it is a system which is primarily used to produce the thrust or power which allows boats or ships to move on the seas. The system comes in different formats. Most of the modern vessels come equipped with the electric motor propellers, the impeller or pump jet propellers. Without propellers, ships can't move in the water. Initially, there were only a limited number of Marine Propulsion Engine systems, but now the advancement in modern technology has brought innovative ones.

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The propulsion engine market is now gaining significant traction for powering the world’s most huge ships. Following the higher demand for fuel-efficient ships, the global propulsion engine market is now growing. In the year 2018, the total value of the market was USD xx million. Now, experts have predicted that it will reach USD xx million by the end of 2025. The Compound Annual Growth Rate will be around xx % during the forecasting period, i.e., 2019-2025.

Market Segmentation

The world Marine Propulsion Engine market has segmented by ship type, engine type, and region. By engine, there are Diesel engine, Gas turbine engine, Natural engine and more. By ships type, there are Passenger ships, Tanker, Bulk Carrier, Cargo, Offshore Vessel and more.

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Top Market Players

Top and best market players in this market are Caterpillar, Cummins, MAN Diesel & Turbo, Hyundai Heavy Industries, Rolls-Royce, Mitsubishi Heavy Industries, Dresser-Rand, Fairbanks Morse, Wrtsil, Hydraulic Marine Systems, Doosan, Masson-Marine, Hydrosta, Mercury Marine, Ingeteam, Samsung Heavy Industries, Siemens, Nigata Power Systems, Yamaha, Volvo Penta and Hexion.

Latest News

In the year 2018, one of the world’s leading Marine Propulsion Engine manufacturing companies, Hexion announced that it had developed a new and effective one-shot resin infusion process for the propulsion system. The newly invented technology will significantly boost the performance of its existing operations.

In June 2019, Mercury Marine introduced its all-new and powerful Mercury Racing 450R propulsion engine for small boats. It has a 4.6-liter V8 Four-Stroke engine boosted by the Mercury Racing supercharger which can generate 450 peak prop shaft horsepower..

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Source: EIN Presswire