16th October, 2018- Rising demand for high-value pleasure vessels such as yachts and cruise ships is estimated to drive the growth of market over the next six years. Additionally, increasing demand for Commercial Boats And Ships engaged in transportation and trade is anticipated to trigger growth in the industry.The demand for bio-diesel generator sets is estimated to escalate over the forecast period and is anticipated to contribute significantly to industry expansion. Increasing emphasis on adoption of non-conventional & renewable sources of energy and the need for minimizing vessel emissions can be attributed as a major reason for rise in demand for bio-diesel generator sets. Rising oil prices and high maintenance costs are expected to affect the demand for diesel based gensets.
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Top Key Manufacturers of Marine Gensets market are :-
- Mitsubishi Heavy Industries
- Man Diesel & Turbo
- Valley Power Systems
Marine Gensets Market by Product Type:
- Diesel Fuel Marine Gensets
- Gas Fuel Marine Gensets
Marine Gensets Market by Applications:
- Commercial Vessels
- Offshore Support Vessels
Geographical Analysis of Marine Gensets Market:-
- North America
- Southeast Asia
The marine gensets market can be classified on the basis of end-use vertical into three types; pleasure or leisure, commercial, and defense vessel segments. Pleasure vessels include cruise ships, ferries, sports & sailing yachts, ocean liners, and catamaran watercrafts. Continuous surge in leisure and recreational activities is projected to increase the demand for generator sets in pleasure vessel category.
Commercial vessels comprise bulk carriers, auto carriers, cargo ships, merchant ships, reefers, tankers & super tankers, and tug boats. An increase in seaborne trade and freight carriages presumed to positively impact the industry growth. Cargo ships are being used increasingly in maritime business activities and it has helped in maintaining the industry prospects upbeat. Naval warfare and maritime defense along with monitoring, control & surveillance activities in international waters is predicted to propel the demand for defense vessels. Defense vessels mainly include guide missile cruisers, aircraft carriers, mine sweepers & hunters, and coast- guard & police- patrolling vessels. An overall increase in defense spending across the globe is anticipated to lead the growth of generator sets in defense vessels segment.
Marine gensets can be segmented on the basis of power generation capacity into three types; capacity less than 500 kW, 501-1000 kW and 1001-3000 kW capacity. Generator sets with power generation capacity less than 500 kW are widely used in small watercrafts and pleasure vessels.
Marine generator sets are expected to gain prominence in the Asia Pacific region owing to emerging demand for hybrid generator sets in countries such as Japan and China as such gensets emit fewer greenhouse gases and use clean technology. Hybrid generator sets produce power through solar energy and bio-fuel such as bio-diesel and subsequently contribute in creating a sustainable environment. Expansion of the shipbuilding industry in countries such as China, Japan and South Korea is expected to impel growth in the Asia Pacific region. Low labor costs and increased government spending on ship building activities can be attributed as a major reason for this rise.
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Major Table Of Contents:
- Executive Summary
- Market Analysis
- Marine Gensets Market Analysis By Regulatory
- Marine Gensets Market Analysis By Service Type
- Marine Gensets Market Analysis By Equipment Type
- Marine Gensets Market Analysis By Service Contract
- Marine Gensets Market Analysis By Service Provider
- Marine Gensets Market Analysis By End-User
- Marine Gensets Market Analysis By Geography
- Competitive Landscape Of The Marine Gensets Companies
- Company Profiles Of The Marine Gensets Industry
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