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High-speed Marine Diesel Engine

  • High-speed marine diesel engines have rated speeds of 900 revolutions per minute to 1,200 revolutions per minute. They are primarily used in power boats, yachts, cruisers, and high-speed ferries.
  • High-speed diesel engines are turbocharged. This raises the power output of the engine without an increase in its size.
  • Growth in recreational, fishing, and tourism activities is anticipated to boost the demand for high-speed marine diesel engines, as boats, yachts, and cruisers are widely used for such activities
  • Considerable investments are being made in research and development activities for better hydrodynamics, more energy-efficient engines, and lower carbon fuels and carbon-free fuels for ships

Key Drivers of Global High-speed Marine Diesel Engine Market

  • Demand for high-speed marine diesel engine has been increasing owing to rise in tourism activities and per capita income of the people around the world. Steady rise in demand for pleasure and recreational activities around the globe is also anticipated to propel the demand for high-speed marine diesel engine during the next few years.

Key Development

  • In August 2018, MITSUBISHI HEAVY INDUSTRIES, LTD. introduced new models of its MET turbochargers for diesel engines. The MET-MBII axial-flow turbocharger series, primarily used for two-stroke engines, is smaller and lighter than the existing MET-MB series, with a 16% greater air flow capacity. The MET-ER radial turbocharger for four-stroke engines is more compact, with fewer components for improved maintainability. Axial-flow turbochargers are primarily used for large two-stroke marine propulsion diesel engines.

COVID-19 Impact

  • The marine sector has been adversely affected by the COVID-19 pandemic. Most of the manufacturing companies have partially shut their manufacturing plants. Decrease in global demand for ships/boats and unavailability of labor have hampered the high-speed marine diesel engine market.
  • Many marine engine suppliers have halted their operations owing to lockdowns imposed by various countries to curtail the pandemic

Asia Pacific to Hold Major Share of Global High-speed Marine Diesel Engine Market

  • Based on region, the global high-speed marine diesel engine market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific dominated the global high-speed marine diesel engine market in 2019. The market in the region is expected to expand at a rapid pace during the forecast period. China, Japan, and South Korea held 90% share of global shipbuilding in 2018. China accounted for 40% share, while Japan and South Korea each held 25% share in the year. Governments of countries in Asia have taken various initiatives to support the shipbuilding industry in the region.
  • North America constituted vital share of the global market in 2019 owing to the large fleet size and increase in demand for pleasure boats in the region. Rise in tourism and recreational activities is estimated to boost the demand for high-speed marine diesel engines in the region during the forecast period.
  • The market in Europe is estimated to expand at a fast pace during the forecast period. The marine sector in the region is well established. Europe has the highest number of powerboats, yachts, and superyachts in the world. Furthermore, boat shows and recreational activities are rising in the region. The pleasure boat industry in France has 5,435 companies that employ a total of 40,510 employees. France accounts for nearly one-third share of sales and one-fifth share of the fleet in Europe.
  • Latin America and Middle East & Africa held relatively minor share of the global high-speed marine diesel engine market in 2019. The market in these regions is estimated to expand at a sluggish pace during the forecast period, as the marine sector in these regions is still developing.

Key Players in High-speed Marine Diesel Engine Market

Major players operating in the global high-speed marine diesel engine market include:

  • MAN Diesel & Turbo
  • Wärtsilä
  • Hyundai Heavy Industries Co., Ltd.
  • Caterpillar
  • Scania
  • Volvo Group
  • Rolls-Royce plc
  • Cummins Inc

Global High-speed Marine Diesel Engine Market: Research Scope

Global High-speed Marine Diesel Engine Market, by Ship Type

  • Commercial
  • Defense
  • Others

Global High-speed Marine Diesel Engine Market, by Engine

  • Propulsion
  • Auxiliary

Global High-speed Marine Diesel Engine Market, by Type

  • Two-stroke
  • Four-stroke

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Highspeed Marine Diesel Engine Market