Marine engines are the engines that are installed in marine vehicles that include ships, motor driven boats and other similar vehicles. Marine vehicles can be either commercial, defense or for personal use. These are used for surveillance, transportation, offshore support and many similar applications. The type of motor used in these vehicles depends on the size and application of the vehicles.
With the improvement in technology, different types of Marine engines are available with the improved efficiency as we compare with previous ones. Based on the purpose, economy and efficiency, different types of engines are available in the market.
The report on marine engines analyses the market by segmenting the market by type of fuel used, by method of propulsion, by type of vessel, by power and by application. Each of these segments is further divided into sub-segments to offer a detailed analysis of the market.
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In the present scenarios the exports & imports were carried through cargos in order to transport the heavy and huge amount of goods at cheaper costs. This means of transport is the best way to transport the goods to the overseas. Hence new ships are emerging year by year.
Not only for the ships there are many marine vehicles which are used for sporting, tourism, inland water transportation, and others too. Marine transportation costs less when compared with other means of transportation.
Owing to benefits such as cheaper in cost and huge amount of transportation can be possible through marine; the availability of the Marine engines is in various sizes, types, as well as technologies. However, ship building, and other marine vehicle manufacturers are key end use industries of the Marine engine market.
The global market for Marine engine was estimated to be $XX billion in 2015. The global market for Marine engine is estimated to grow at a CAGR of XX% and is forecast to reach $XX billion by 2021. The 4-stroke engines are forecast to have the highest growth of X% during the forecast period 2016-2021. Asia and other Pacific countries alone are estimated to occupy a share of more than XX% during 2016-2021.
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Asia is the leading market for Marine engine Market. Asia region is forecast to have highest growth in the next few years due to growing exports & imports, development in tourism sector and other factors. Asian Marine engine market value market accounts to XX% of the global market for Marine engine market and is the fastest growing market followed by North America.
The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled with attributes of Company Overview, Financial Overview, Business Strategies, Product Portfolio and Recent Developments. The report contains the most detailed and in-depth segmentation of the marine engine market.
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