Global Marine Gensets Market to Reach $5.76 Billion by 2028 - Surge in Seaborne Trade and Increasing Manufacturing of Commercial and Shipbuilding Activity to Thrive the Market - Exclusive Report by Vantage Market Research

·8 min read

WASHINGTON, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Marine Gensets Market finds that the said market is majorly driven by an increase in the seaborne trade and an extensive increase in the manufacturing of commercial and shipbuilding activity. The market possesses a huge opportunity due to increasing demand for the CNG and natural gas which can help in reducing the fuel cost. The total Global Marine Gensets Market is estimated to reach USD 5.76 Billion by 2028, up from USD 4.46 Billion in 2021, at a Compound Annual Growth Rate (CAGR) of 3.7%.

Furthermore, increasing demand for offshore vessels have also boosted the growth of the market, states Vantage Market Research, in a report, titled “Marine Gensets Market by Fuel (Diesel fuel, Gas fuel, Hybrid fuel), by Vessel type (Commercial vessel, Defense vessel, Offshore vessels), by Rating (Less than 1000kW, 1001-3000 kW, 3001-10000kW, Over 10000kW), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

Click Here To Access The Free Sample Report @ https://www.vantagemarketresearch.com/marine-gensets-market-1179/request-sample

(The Free Sample Of This Report Is Readily Available On Request).

Our Free Sample Reports Includes:

  • In-depth Industry Analysis, Introduction, Overview, and COVID-19 Pandemic Outbreak.

  • Impact Analysis 180+ Pages Research Report (Including latest research)

  • Provide chapter-wise guidance on request 2021 Updated Regional Analysis with Graphical Representation of Trends, Size, & Share, Includes Updated List of figures and tables.

  • Updated Report Includes Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis by using Vantage Market Research methodology.

(Please note that the sample of this report has been updated to include the COVID-19 impact study prior to delivery.)

Market Dynamics:

Demand for Offshore Patrol Vessels (OPV) from Emerging Markets

Emerging economies around the world are witnessing the need for maritime patrolling to control anti-smuggling and anti-theft activities. There has been a growing demand for OPV to control terrorist campaigns and for the requirement to patrol EEZ. The boost in demand for OPV from emerging markets such as Asia-Pacific, Latin America and Africa will drive the growth of the market. This has also led to change in manufacturing base of OPV to emerging countries in the Asia-Pacific and Latin American regions. Several countries, such as India and China, are set to strengthen their defence shipbuilding capabilities and have also started exporting OPV overseas.

Modularisation of OPV

The design modularity of OPV offers flexibility in the manufacturing time and process along with reduced cost. Modularisation of OPV also offers flexibility benefits for current operation and future upgrades as per requirement. The vessels are efficiently optimized to accomplish tasks such as military security, safety and humanitarian duties. The possibility of any role becomes viable through the flexibility of mission modules and modular manning concepts.

Purchase This Premium Report Now @ https://www.vantagemarketresearch.com/buy-now/marine-gensets-market-1179/1

Benefits of Purchasing Marine Gensets Market Reports:

  • Customer Satisfaction: Our team of experts assists you with all your research needs and optimizes your reports.

  • Analyst Support: Before or after purchasing the report, ask a professional analyst to address your questions.

  • Assured Quality: Focuses on accuracy and quality of reports.

  • Incomparable Skills: Analysts provide in-depth insights into reports.

COVID-19 Impact Analysis:

COVID-19 has disturbed the supply chain across the various sectors. Shipbuilding activities across the globe has drastically decreased which has impacted the market negatively. The market is expected to recover in next 2 -3 years as the spreading of new and updated virus variant has limited the operation and sale. There is expected to be a trend shifting towards manufacturing in more closed manufacturing platforms to avoid product contamination from the potentially infected operator with COVID-19. In spite of instructions from country governments regarding manufacturing safety protocols, a large number of products are being manufactured in less-closed or more open platforms resulting in a severe risk of outbreak of COVID-19. Increasing in seaborne trade and increasing manufacturing of commercial and shipbuilding activity is expected to support the global marine gensets market growth in the long term. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

  1. Impact Assessment of COVID-19 Pandemic

    1. North America

    2. Europe

    3. Asia Pacific

    4. Latin America

    5. Middle East & Africa

  2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021

  3. Key Strategies Undertaken by Companies to Tackle COVID-19

  4. Long Term Dynamics

  5. Short Term Dynamics

The report on Marine Gensets Market highlights:

  • Assessment of the market

  • Premium Insights

  • Competitive Landscape

  • COVID Impact Analysis

  • Historic Data, Estimates and Forecast

  • Company Profiles

  • Global and Regional Dynamics

Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/marine-gensets-market-1179

Regional Analysis:

Asia Pacific Dominates the Global Marine Gensets Market

Asia Pacific has dominated the global marine gensets market in 2021. The market growth is attributed to, presence of emerging economies such as China and India among others. China is anticipated to hold the largest share of the market owing to growing investment in marine gensets. Also, increasing investments from government and several major players is anticipated to drive the marine gensets market growth in the region over the forecast period.

List of Prominent Players in the Marine Gensets Market:

  • Wärtsilä (Finland)

  • MAN Diesel & Turbo SE (Germany)

  • Mitsubishi Heavy Industries (Japan)

  • Caterpillar, Inc. (U.S.)

  • Rolls-Royce Power Systems AG (Germany)

Recent Developments:

February 2020: Cummins has expanded a new range of ignition-protected marine gensets. This model is designed to operate on diesel powered and gasoline powered boats and provides safe and reliable power supply to on-board amities.

February 2021: The MAN Energy Solutions received an order for compliant engines from Ocean Industries for the Royal Canadian Navy Thugs. This order involves ship service diesel generators sets, technology for engines along with tier III compliances from Man Energy Solution.

Browse market data Tables and Figures spread through 183 Pages and in-depth TOC on "Marine Gensets Market by Fuel (Diesel fuel, Gas fuel, Hybrid fuel), by Vessel type (Commercial vessel, Defense vessel, Offshore vessels), by Rating (Less than 1000kW, 1001-3000 kW, 3001-10000kW, Over 10000kW), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/marine-gensets-market-790591

This market titled “Marine Gensets Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Report Attribute

Details

Market Size in 2021

USD 4.46 Billion

Projected Market Size in 2028

USD 5.76 Billion

CAGR Growth Rate

CAGR of 3.7% from 2022–2028

Base Year

2021

Historic Years

2016 - 2020

Forecast Years

2022 - 2028

Segments Covered

Fuel: - Diesel fuel, Gas fuel, Hybrid fuel

Vessel type: - Commercial vessel, Defense vessel, Offshore vessels

Rating: - Less than 1000kW, 1001-3000 kW, 3001-10000kW

Quantitative Data - Units

Revenue in USD Million/Billion and CAGR from 2022 to 2028

Regions Covered

North America, Europe, Asia Pacific, Latin America,
and Middle East & Africa

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy,
Spain, China, India, Japan, South Korea, Brazil, Argentina,
GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s
five forces analysis, PEST analysis, value chain analysis,
regulatory landscape, market attractiveness analysis by
segments and region, company market share analysis, and
COVID-19 impact analysis.

Key questions answered in the report:

  • Which regional market will show the highest and rapid growth?

  • Which are the top five players of the Marine Gensets Market?

  • How will the Marine Gensets Market change in the upcoming six years?

  • Which application and product will take a lion’s share of the Marine Gensets Market?

  • What is the Marine Gensets market drivers and restrictions?

  • What will be the CAGR and size of the Marine Gensets Market throughout the forecast period?

Customization of the Report:

The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.

Download Free Sample Report Now @ https://www.vantagemarketresearch.com/marine-gensets-market-1179/request-sample

Browse More Related Report:

About Vantage Market Research:

We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research services. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.

Follow Us on LinkedIn: https://www.linkedin.com/company/vantage-market-research/

Follow Us on Twitter: https://twitter.com/vantagemarketr

Contact us

Eric Kunz

6218 Georgia Avenue NW Ste 1 - 564

Washington DC 20011-5125

United States Tel: +1 202 380 9727

Email: sales@vantagemarketresearch.com

Website: https://www.vantagemarketresearch.com/

Latest Vantage Market Research Press Releases @ https://www.vantagemarketresearch.com/insight/press-releases

Latest Vantage Market Research Blog @ https://www.vantagemarketresearch.com/insight/blogs


Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting