About Marine Gensets
A marine generator is typically powered by gasoline or diesel to produce energy that is converted to electrical energy inside the generator. This electricity can then be used to power various equipment and appliances inside a boat. An increase in the number of container ships & gas carrier marine freight across the world is one of the major factors driving the growth of the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 3.9% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States, German, and Japanese Manufacturers will contribute the maximum growth to Global Marine Gensets market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cummins Inc. (United States), Mitsubishi Heavy Industries (Japan), Caterpillar (United States), Man Diesel & Turbo (Germany), Valley Power Systems (United States), Volvo (Germany), Kohler (United States), Deutz (Germany), Yanmar (Japan) and ABB (Switzerland) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Wartsila (Finland), Dresser Rand (United States), Daihatsu Diesel MFG (Japan), Rolls-Royce Power System (Germany) and Sole Diesel (Spain).
Segmentation Overview
AMA Research has segmented the market of Global Marine Gensets market by Type (Diesel Fuel Marine Genset, Gas Fuel Marine Genset and Hybrid Fuel Marine Genset), Application (Cargo ships, Coastguard & patrol boats, Dredging, Ferrys, Fishing and Others {Offshore, Tugs, Vessels, Yachts}) and Region.
On the basis of geography, the market of Marine Gensets has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Capacity, the sub-segment i.e. Up to 1,000kW Segment will boost the Marine Gensets market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Engine will boost the Marine Gensets market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Power, the sub-segment i.e. Single Phase will boost the Marine Gensets market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Demand for Hybrid-Fuel Powered Marine Gensets
Market Growth Drivers:
Increase in the Number of Container Ships & Gas Carrier Marine Freight across the World and The rise in High-Value Pleasure Vessels
Challenges:
Competition from Low-Cost Vendors and Rise of Green Cell Shipping
Restraints:
Stringent Emission Norms for Diesel-Engine Powered Marine Gensets and Decreased Oil & Gas Activity has resulted in Reduction of Fpso and Offshore Vessels for the Oil & Gas Sector
Opportunities:
Growing Demand from Developing Countries
Market Leaders and their expansionary development strategies
On 16 Oct 2019, DEUTZ’s Moroccan subsidiary, Magideutz, has relocated its genset manufacturing and has established a new production site in Sapino. This is now the central production site for high-performance power generation equipment for the northern African market. The manufacturing processes at the plant have been totally realigned and set new standards in terms of quality, productivity, and health and safety. and On 14 Feb 2019, Cummins Inc. unveiled its new ignition protected 7.5 kilowatt (kW) Onan marine generator during the 2019 Miami International Boat Show. The MDKBJ Onan marine generator meets U.S. Coast Guard 33 CFR183 requirements, and is certified to U.S. Environmental Protection Agency (EPA) Tier 3 emission standards.
In October 2022, KGP has launched its new Genset and Marine Multi-Client services. Extending the core services has been a long held ambition. With our new partners – PowerGen Solutions (PGS) and Power Products Marketing (PPM) we bring their expertise in total market demand aligned to KGP’s engine, emissions and decarbonisation expertise.
Key Target Audience
Marine Genset Manufacturers, Marine Genset Traders/Distributors, Marine Genset Importer/Exporter, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.