A Newly Published Study Shares Insights on How to Prepare for a New Normal in the Global Marine Gensets Market
The global market for Marine Gensets is projected to reach US$6.3 billion by 2025 driven by the healthy growth outlook for shipbuilding, repairs, overhaul and maintenance.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Marine Gensets market. Report segmentation includes Fuel (Diesel Fuel, Gas Fuel, Hybrid Fuel); Vessel Type (Commercial Vessels, Defense Vessels, Offshore Support Vessels, Other Vessel Types) ).
10 June 9:31 A.M., California/Marketwire/ - According to the new market research report, the global market for Marine Gensets is projected to reach US$6.3 billion by 2025 driven by the healthy growth outlook for shipbuilding, repairs, overhaul and maintenance. Macro factors supporting these opportunities include steady expansion in seaborne trade volume; stable spending on tourism/commercial voyages and the resulting increased demand for recreational vessels.
Trade patterns will be supported by new trends such as digitalization which will redefine the geography of trade flow. Artificial intelligence, big data, Internet of Things (IoT), automation, blockchain will transform supply chains and create new business opportunities. Digitalization of port and shipping services will reduce cost of maritime transport and will help increase volume of traded commodities via sea. IoT and integrated communications and better visibility of shipments at any given point in time will increase reliability of container transport services. Dry bulk commodities are expected to witness the highest growth in seaborne trade, along with coal as alternative markets open up such as in Vietnam to counter balance falling Chinese imports. IMO 2020, although will push up the cost of maritime transport, it will also help encourage fleet demolitions and fleet expansion, modernization and upgrades. Owners of inefficient vessels will face the necessity to scrap their ships and upgrade to newer energy efficient fleet to ensure conformance to the regulations. This will push up orders for new generation ships, positively influencing demand for shipbuilding components including power and propulsion systems.
Key Competitors Covered in the Report
Cummins India Ltd.
Dresser-Rand Group, Inc.
Mitsubishi Heavy Industries Ltd.
Rolls-Royce Power Systems AG
Valley Power Systems
Yanmar Co., Ltd.
Geographies Analyzed in the Report
Europe (France, Germany, Italy, United Kingdom, Spain, Russia, and Rest of Europe)
Asia-Pacific (Australia, India, South Korea, and Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, and Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates, and Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 1221. Among this pool, 222 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 49 unique participations, a total of 22 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
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Global Industry Analysts, Inc.