About Marine Generators
Marine Generator is a generator found on the boat that converts mechanical energy to electric energy usually gasoline or diesel. Mainly, marine generator consists of engine, alternator, and control. These generators are specifically designed for the challenges of the marine environment. The Marine Generator is expected to rise in the forecasted period owing to increased commercial vessels and growing trade activity around the globe.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
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 Manufacturers will contribute the maximum growth to Global Marine Generators 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.
ABB (Switzerland), Cummins Inc. (United Kingdom), Mitsubishi Motor Corporation (Japan), Toshiba Corporation (Japan), Siemens (Germany), Kohler Power Systems (United States), TECO-Westinghouse Motor Company (United States), ASMO (North America), Maxon motor (Switzerland), Rockwell Automation (United States), Mase Generators of North America, LLC (United States) and CAT (Australia) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Nidec Motor Corporation (Japan), SEC Electric Machinery Co., Ltd (China) and XIANGTAN ELECTRIC (China).
Segmentation Overview
AMA Research has segmented the market of Global Marine Generators market by Type (Marine Propulsion Engines and Marine Generator Set), Application (Commercial Transportation and Ocean Vessel) and Region.
On the basis of geography, the market of Marine Generators 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 End Use, the sub-segment i.e. Commercial will boost the Marine Generators market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Innovation and Development in Marine Generator
Market Growth Drivers:
Increasing Demand in Commercial Segment, Growing Trade Activity Around the Globe and Increase in Need of the Shipbuilding Industry
Challenges:
Competition From Low-Cost Vendors
Restraints:
Stringent Regulation Regarding Emission Control
Opportunities:
Positive Outlook Towards the Seaborne Industry
Market Leaders and their expansionary development strategies
In Japanese marine electrical machinery supplier BEMAC Corporation has completed its acquisition of The Switch Engineering Oy, Finland-based special electric machine and high-power converter product supplier. The acquisition allow to continue to grow and innovate together with customers.
In May 2023 , Global power technology leader Cummins Inc. has launched of the Marine Diesel Cummins Turbo (MDCT) genset. This robust genset can be fitted with either the low or high kW Cummins B4.5 auxiliary engine, giving genset ratings of 40 kWe – 80 kWe and 80 kWe – 110 kWe respectively.
According to Emission Standard- “Emissions from marine diesel engines (compression ignition engines) have been regulated through a number of rules—the first one issued in 1999—applicable to different engine categories.” The Major Regulatory acts which establish standards for the marine engine includes 1999 Marine Engine Rule, 2002 Recreational Engine Rule, 2003 Category 3 Engine Rule, 2008 Category ½ Engine Rule and 2009 Category 3 Engine Rule.
Key Target Audience
Marine Generator Manufacturers, Ship-Building Companies, Marine Generator parts Suppliers, Government and Industry Associations, Investment and Consulting Firms 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.