What is Yacht Engine Market?
Yacht engine or a motor is a machine that is designed to convert one form of energy into mechanical energy. The engine supply power to most kind of vessels, generators and propulsion systems to a marine time activity or a yacht. The growing number of marine travellers in both developing and developed nations are anticipated to boost the growth of the yacht engine market.
Highlights from Yacht Engine Market Study
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Rolls-Royce Power Systems AG (Germany), MAN SE (Germany), Caterpillar Inc. (United States), Cummins Inc. (United States), AB Volvo (Sweden), Scania AB (Sweden), NANNI Industries (France) , Lombardini Marine Kohler Engines (Italy) , COELMO (Italy) and VETUS (The Netherlands) |
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Yacht Engine market throughout the forecasted period.
Rolls-Royce Power Systems AG (Germany), MAN SE (Germany), Caterpillar Inc. (United States), Cummins Inc. (United States), AB Volvo (Sweden), Scania AB (Sweden), NANNI Industries (France) , Lombardini Marine Kohler Engines (Italy) , COELMO (Italy) and VETUS (The Netherlands) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Yanmar Co., Ltd. (Japan), John Deere (United States) and Deutz AG (Germany). Yacht Engine Market Segmentation:
Scope | Sub-Segments |
---|
Application / End User | General Yacht, Displacement Yacht, Performance Yacht and Others |
Number of Cylinder | 4 Cylinder,6 Cylinder,8 Cylinder,Others (12 Cylinder, 16 Cylinder) |
Engines Power Range | 250KW to 600 KW,601KW to1200KW,1201KW to 3000KW,3001kW to 7000KW,Above 7000KW |
Fuel Type | Diesel,Gas,Hybrid |
On the basis of geography, the market of Yacht Engine 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High-Quality Propulsion Systems Innovation and Constantly Researching and Working on New Trendsetting Technologies by Key Market Players and Increasing Installation of Dual-Fuel Engine in Yacht
Market Growth Drivers:
Increasing Demand for Leisure Services and Activities across the Developed Nations, Growing Advancements In Manufacturing Highly Efficient and Light Weight Yachts Engines and Rising Inclination of People towards Unique and Exotic Holiday Experiences Globally
Challenges:
Concern Related To the Fluctuations in Oil & Gas Prices
Restraints:
Stringent Regulations for Diesel Engines, marine propulsion engine manufacturers are now inclined towards the design and development of engines that run on alternative fuels such as bio-methane and algal oils
Opportunities:
Rising Demand for Luxury Vessels Such As Cruise and Yachts, Growing Marine Tourism and Increasing Number of Cruise and Yachts and Key Market Players are Focusing on the Development of yacht Engine that Operates on Alternative Fuels Including Bio-Methane and Algal Oil
Key Target Audience
Yacht Engines Manufactures, Component Manufacturers, Distributors, Potential Investors, Technology Providers, Government Bodies and Associations, Up and Down Stream Vendors, Private Research Organizations and Others
In November 2019, Rolls-Royce and British luxury yacht manufacturer Sunseeker International have signed a new frame agreement for the supply of MTU yacht engines. The contract, signed during the Fort Lauderdale Boat Show, runs until the end of 2022 and covers a total of over 90 MTU Series 2000 V10, V12 and V16 engines as well as V8 and V12 configurations of the Series 4000.
In 2008, EPA adopted Tier 3 and Tier 4 emission standards for new marine diesel engines with per-cylinder displacement less than 30 litres (73 FR 37096, June 30, 2008). The Tier 3 standards were based on engine manufacturers' capabilities to reduce particulate matter (PM) and oxides of nitrogen (NOX) emissions with recalibration and other engine-based technologies. The Tier 4 standards were based on the application of catalytic after-treatment technology, including selective catalytic reduction (SCR).