Asia-Pacific Marine Engines Market By Type (Main Propulsion, & Auxiliary Engine), By Application (Commercial, Defense, etc), By Engine Power Rating (<750KW, 751-4000KW, 4001-8000KW, & >8000 KW), By Country, Competition Forecast & Opportunities, 2023

Asia-Pacific marine engines market stood at over $ 3.3 billion in 2017 and is forecast to surpass $ 4.8 billion by 2023. Growth in the market can be attributed to growing demand for marine engines across both commercial and industrial sectors. Additionally, technological advancements in marine engines are further likely to positively influence Asia-Pacific marine engines market in the coming years. China & Japan are the major demand generating countries for marine engines in Asia-Pacific region due to high imports through ships and growing LNG consumption in these countries.

Years Considered for this Report

Historical Years2013-2016

Base Year2017

Estimated Year2018

Forecast Period2019–2023

Objective of the Study

• The primary objective of the study was to understand and gain insights about Asia-Pacific marine engines market and segmental analysis by Type, by Application, by Engine Power Rating and by Country.
• To estimate, calculate and forecast market size for Asia-Pacific marine engines market.
• To segment and forecast Asia-Pacific marine engines market by Application such as Commercial, Defense and Others.
• To categorize and forecast Asia-Pacific marine engines market by countries - China, Japan, India, South Korea, Singapore, and Rest of Asia-Pacific.
• To identify major drivers & challenges for Asia-Pacific marine engines market.
• To identify major trends in Asia-Pacific marine engines market.
• To profile major companies in Asia-Pacific marine engines market.

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Few of the major players operating in Asia-Pacific marine engines market include Wärtsilä Corporation, MAN SE, Hyundai Heavy Industries, Rolls Royce Holdings Plc, Caterpillar Inc., General Electric, Cummins Inc., Mitsubishi Heavy Industries Marine Machinery & Equipment Co. Ltd., Volvo Penta, and Brunswick Corporation (Mercury Marine Inc).

To analyze and forecast Asia-Pacific marine engines market, both top-down and bottom-up approaches have been used. Multiple employees from the following companies have been interviewed through telephonic conversations to extract and verify the information being collected at source. A brief study of the major players operating in Asia-Pacific marine engines market was conducted, which included analysis of information such as ongoing projects followed by the details of expected year of commissioning and estimated investments along with the expansion plans of various projects across the region. Moreover, detailed and in-depth scrutiny of information was done to understand each policy or external or internal factor, which could increase or decrease the demand for marine engines in Asia-Pacific.

To extract data, primary surveys were conducted with key players and stakeholders in the industry. The future plans of major players were studied and projects which have been commissioned were identified. Various secondary sources such as white papers and secondary literature on BP Statistics, IEA, UN Comtrade, International Monetary Fund, World Bank, company websites, annual reports, etc. were also studied by Market insights research.

Key Target Audience

•         Engine Manufacturers & OEMs
•        EPC contractors
•         Organizations, forums and alliances related to marine engines market
•       Government bodies such as regulating authorities and policy makers
•        Market research and consulting firms

The study is essential in delivering useful information to industry stakeholders such as companies operating in Asia-Pacific marine engines market. The report also provides useful insights about which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth opportunities.