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Home | Search Global IT News: IT News & Press Release Distribution: Marine Engines Market worth 13.53 Billion USD by 2021 (IT-NEWSWIRE.COM, March 09, 2017 ) The report "Marine Engines Market by Power’000 HP (up to 1HP, 1-5HP, 5-10HP, 10-20HP & Above 20HP), Vessel Type (Commercial & Offshore Support Vessels), Fuel (Heavy Fuel, Intermediate Fuel, Marine Diesel & Marine Gas Oil), & Region - Global forecast to 2021", The global marine engines market is expected to grow from an estimated USD 11.14 Billion in 2016 to USD 13.53 Billion 2021 at a CAGR of 3.85%. Browse 75 market data tables and 49 figures spread through 165 pages and in-depth TOC on “Marine Engines Market - Global forecast to 2021” Download PDF Brochure - http://www.marketsandmarkets.com/pdfdownload.asp?id=261640121 Asia-Pacific will dominate the marine engines market Asia-Pacific will remain the largest market for marine engines for the projected period 2016 to 2021. The growth will be mainly driven by rise in the ship-building industry in China as well as Japan and South Korea. China, Japan, and South Korea constituted more than 80% of ship-building activity in 2015, and more investments, particularly in China, for the ship-building industry. Another factor attributing to the growth will be rise in maritime trade in South-east Asia spearheaded by China and other emerging economies in the region such as Indonesia. Commercial vessels will continue to remain the largest market for marine engines by vessel type Commercial vessels, as a consequence of increased ship-building orders for gas carriers and bulk carriers, will continue have the largest market share for marine engines by vessel type, largely driven by rising economic growth in South Asia and South-east Asia. There will also be an increased demand for pleasure vessels in Europe and North America especially in yachts and luxury cruises. Stringent emission norms will increase demand for gas-powered and dual-fuel marine engines HFO (Heavy Fuel Oil) based marine engines have always dominated the marine engines market, and will continue to hold the larger share in the marine engines market segment by fuel type. With, recent emission norms announced by IMO and other organizations such as US EPA, there will be an increase in share of the cleaner-fuel mix segments of marine engines as a result of an increased demand for marine engines based on IFO, MDO, MGO, and dual-fuel marine engines as well as gas-powered marine engines. Make an Inquiry - http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=261640121 Major market players Major market players covered are MAN Diesel & Turbo SE (Germany), Wärtsilä (Finland), Caterpillar, Inc. (U.S.), Mitsubishi Heavy Industries (Japan), and Rolls-Royce Power Systems AG (Germany) and others. About MarketsandMarkets MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers. We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository. Contact: Mr. Rohan Markets and Markets 701 Pike Street Suite 2175, Seattle, WA 98101, United States 1-888-600-6441 Email: sales@marketsandmarkets.com MarketsandMarkets Mr. Rohan 1-888-600-6441 sales@marketsandmarkets.com Source: EmailWire.Com Source: EmailWire.com

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