Global Market for Marine Gensets
Dublin, June 20, 2023 (GLOBE NEWSWIRE) -- The "Marine Gensets: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Marine Gensets estimated at US$5.1 Billion in the year 2022, is projected to reach a revised size of US$7 Billion by 2030, growing at a CAGR of 4% over the analysis period 2022-2030.
Commercial Vessels, one of the segments analyzed in the report, is projected to record a 4.3% CAGR and reach US$3.6 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Defense Vessels segment is readjusted to a revised 4% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.1 Billion, While China is Forecast to Grow at 5.4% CAGR
The Marine Gensets market in the U.S. is estimated at US$1.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.8 Billion by the year 2030 trailing a CAGR of 5.4% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3% CAGR.
Select Competitors (Total 114 Featured) -
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ABB Ltd.
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Caterpillar, Inc.
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Cummins, Inc.
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Daihatsu Diesel MFG. Co., Ltd.
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Kohler Power Systems
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MAN Energy Solutions
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Mitsubishi Turbocharger and Engine Europe B.V.
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Sole Diesel
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Volvo Penta
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Wartsila Corporation
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Yanmar Holdings Co., Ltd.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 455 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $5.1 Billion |
| Forecasted Market Value (USD) by 2030 | $7 Billion |
| Compound Annual Growth Rate | 4.0% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
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Impact of COVID-19 Pandemic and Looming Global Recession
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Year 2021 in Review and Near-term Outlook
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Prolonged Pandemic, Ukraine-Russia Conflict and Ensuing Economic Disruptions Impact Growth Outlook
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World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 through 2023
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Severe Impact of Pandemic on Supply Chain Networks Derails Market Momentum
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Global Losses in Supply Chain as a % of Earnings Before Interest, Taxes, Depreciation & Amortization (EBITDA) in the Year 2020
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Global Marine Gensets Market under the COVID-19 Lens
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Sales of Recreational Boats, Watercrafts & Yachts Slump Impacting the Value Chain
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Leisure Marine Industry amid COVID-19 Pandemic
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Percentage of People Going to Boating Regularly in the US by Age Group: 2021
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Competitive Scenario
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Marine Gensets - Global Key Competitors Percentage Market Share in 2022 (E)
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Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
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Marine Gensets: Delivering Required Thrust to Marine Transportation
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Marine Gensets Market: Prospects and Outlook
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Post Pandemic Rebounding of the Shipbuilding Industry Offers Strong Hope
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Key Challenges Impacting Industry Growth
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Commercial Vessels Segment Poised for High Growth
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Global Marine Gensets Market by Vessel Type (2021 & 2027): Percentage Breakdown of Sales for Commercial Vessels, Defense Vessels, Offshore Support Vessels, and Other Vessel Types
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Diesel Fuel Dominates Market
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Global Marine Gensets Market by Fuel (2021 & 2027): Percentage Breakdown of Sales for Diesel Fuel, Gas Fuel, and Hybrid Fuel
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Asian Economies to Spearhead Future Growth
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World Marine Gensets Market by Region (2021 & 2027): Percentage Breakdown of Sales for Developed and Developing Regions
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World Marine Gensets Market - Geographic Regions Ranked by CAGR (Value Sales) for 2020-2027: China, Asia-Pacific, Latin America, Middle East, Africa, USA, Europe, Japan, and Canada
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An Introduction to Marine Gensets
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Primary Factors Influencing Selection of Prudent & Right Marine Generator
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Recent Market Activity