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Marine Engine Cooling System

  • Marine engine cooling system plays a key role in the operation of marine vessels. It is a system that is used to maintain the temperature of marine engines to increase their efficiency and performance.
  • There are two types of marine engine cooling systems: raw water systems and closed loop systems. The raw water cooling system sucks the salt-water directly from the ocean through a strainer and then cycles it through the engine block. The closed loop cooling system uses both salt water and coolant to cool the engine.  
  • The engine horsepower plays a major role in designing of a cooling system. Bigger and more efficient cooling system is required for high horsepower engines.

Key Drivers of Global Marine Engine Cooling System Market

  • Demand for marine engine cooling system has been increasing owing to the rise in tourism activities and per capita income of the people across the globe. Furthermore, steady rise in demand for pleasure and recreational activities around the globe is anticipated to propel the demand for marine engine cooling system during the next few years.
  • Increase in transportation and trade activities across the globe is also likely to boost the demand for marine vessels, thereby driving the demand for marine engine cooling systems

Key Development

  • On December 14, 2020, MOTA, a France-based manufacturer of marine and industrial cooling systems, established a Japanese subsidiary MOTA ASIA KK in Osaka, Japan. This move is expected to expand its sales channels and services; and help the company strengthen and explore new opportunities in Japan.

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 seaborne trade and unavailability of labor has hampered the supply of marine engine cooling systems.
  • Many suppliers of marine engine cooling systems have halted their operations owing to the lockdowns imposed in several countries to curtail the pandemic

Asia Pacific to Hold Major Share of Global Marine Engine Cooling System Market

  • Based on region, the global marine engine cooling system market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific dominated the global marine engine cooling system market in 2020. 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 held 25% share. South Korea constituted 25% share. Governments of many countries in Asia have taken various initiatives to support the shipbuilding industry in the region. This is likely to propel the demand for marine engine cooling system in the next few years.
  • North America held vital share of the 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 marine engine cooling system in North America during the forecast period.
  • The market in Europe is projected to expand at a rapid pace during the forecast period. The marine sector in the region is well established. Europe has the highest number of powerboats, yachts, and super yachts 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 of sales and one-fifth of the fleet in Europe.
  • Latin America and Middle East & Africa held relatively minor share of the global marine engine cooling system market in 2019. The market in these region is anticipated to expand at a moderate pace during the forecast period, as the marine sector in these region is still developing.

Key Players in Marine Engine Cooling System Market

Major players operating in the global marine engine cooling system market are as follows:

  • Wärtsilä
  • Orca Marine Cooling Systems
  • EJ Bowman
  • MOTA
  • Kelvion Holding GmbH
  • Perkins Engines Company Limited
  • Scania
  • Loftin Equipment Co.
  • CP Performance

Global Marine Engine Cooling System Market: Research Scope

Global Marine Engine Cooling System Market, by Product Type

  • Raw Water Cooling System
  • Closed Loop Cooling System

Global Marine Engine Cooling System Market, by Vessel Type

  • Merchant Marine Vessel
  • Navy Marine Vessel
  • Yacht Marine Vessel
  • Others

Global Marine Engine Cooling System Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Australia
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Venezuela
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Nigeria
    • Rest of Middle East & Africa

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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Marine Engine Cooling System Market

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