LNG Marine Engine Market Scope and Size by 2031
A marine LNG engine is an engine which runs on dual fuel using natural gas and bunker fuel to convert chemical energy into mechanical energy. LNG possesses cleaner burning properties. The use of dual fuel engines in the marine sector is gaining attraction as to reduce the environmental burden and adjust the fluctuating costs as well.
MARKET SCOPE
The "Global LNG Marine Engine Market Analysis to 2031" is a specialized and in-depth study of the consumer goods industry with a particular focus on global market trend analysis. The report aims to provide an overview of the LNG Marine Engine Market with detailed market segmentation into by end use, by engine type and by region. The LNG Marine Engine Market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading LNG Marine Engine Market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The LNG Marine Engine Market has been segmented into by engine type, and by end use. By engine type the market has been bifurcated into spark-ignited, diesel-ignited, and direct gas injection. By end use the market has been bifurcated into ferries, cruise ships, cargo ships and others.
MARKET DYNAMICS
Growth Factors
Restraints
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The LNG Marine Engine Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the LNG Marine Engine Market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the LNG Marine Engine Market in these regions.
Impact of Covid-19 on LNG Marine Engine Market
The Covid-19 outbreak has had a significant impact on the LNG marine engine market as the pandemic was noted to have disrupted seaborne trade as well as the manufacturing sector. The supply side as well as the demand side were affected due to the pandemic. Due to strict regulations the manufacturing had come to a stand-still and demand was also affected substantially. As the restrictions are easing post pandemic era the seaborne trade is slowly picking up pace and manufacturing process is returning to normal. The LNG marine engine market is expected to grow at a brisk pace post pandemic as ship owners are turning towards greener alternatives.
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The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The LNG Marine Engine Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the LNG Marine Engine Market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the LNG Marine Engine Market in these regions.
Impact of Covid-19 on LNG Marine Engine Market
The Covid-19 outbreak has had a significant impact on the LNG marine engine market as the pandemic was noted to have disrupted seaborne trade as well as the manufacturing sector. The supply side as well as the demand side were affected due to the pandemic. Due to strict regulations the manufacturing had come to a stand-still and demand was also affected substantially. As the restrictions are easing post pandemic era the seaborne trade is slowly picking up pace and manufacturing process is returning to normal. The LNG marine engine market is expected to grow at a brisk pace post pandemic as ship owners are turning towards greener alternatives.
MARKET PLAYERS
The report covers vital developments in the LNG Marine Engine Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the LNG Marine Engine Market are anticipated to have lucrative growth opportunities in the future with the rising demand for LNG Marine Engine Market Below mentioned is the list of a few companies engaged in the LNG Marine Engine Market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the LNG Marine Engine Market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.
- Rolls-Royce
- GE
- Daihatsu Diesel
- Weichai
- MAN
- Caterpillar
- Zichai
- Hyundai Heavy Industries Co Ltd
- Wartsila
- Yanmar
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1LNG Marine Engine Market - By Engine Type
1.3.2LNG Marine Engine Market - By End Use
1.3.3LNG Marine Engine Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.LNG MARINE ENGINE MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.LNG MARINE ENGINE MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.LNG MARINE ENGINE MARKET - GLOBAL MARKET ANALYSIS
6.1.LNG MARINE ENGINE - GLOBAL MARKET OVERVIEW
6.2.LNG MARINE ENGINE - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING
7.LNG MARINE ENGINE MARKET - REVENUE AND FORECASTS TO 2028 " ENGINE TYPE
7.1.OVERVIEW
7.2.ENGINE TYPE MARKET FORECASTS AND ANALYSIS
7.3.SPARK-IGNITED
7.3.1.Overview
7.3.2.Spark-Ignited Market Forecast and Analysis
7.4.DIESEL-IGNITED
7.4.1.Overview
7.4.2.Diesel-Ignited Market Forecast and Analysis
7.5.DIRECT GAS INJECTION
7.5.1.Overview
7.5.2.Direct Gas Injection Market Forecast and Analysis
8.LNG MARINE ENGINE MARKET - REVENUE AND FORECASTS TO 2028 " END USE
8.1.OVERVIEW
8.2.END USE MARKET FORECASTS AND ANALYSIS
8.3.FERRIES
8.3.1.Overview
8.3.2.Ferries Market Forecast and Analysis
8.4.CRUISE SHIPS
8.4.1.Overview
8.4.2.Cruise Ships Market Forecast and Analysis
8.5.CARGO SHIPS
8.5.1.Overview
8.5.2.Cargo Ships Market Forecast and Analysis
8.6.OTHERS
8.6.1.Overview
8.6.2.Others Market Forecast and Analysis
9.LNG MARINE ENGINE MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America LNG Marine Engine Market Overview
9.1.2North America LNG Marine Engine Market Forecasts and Analysis
9.1.3North America LNG Marine Engine Market Forecasts and Analysis - By Engine Type
9.1.4North America LNG Marine Engine Market Forecasts and Analysis - By End Use
9.1.5North America LNG Marine Engine Market Forecasts and Analysis - By Countries
9.1.5.1United States LNG Marine Engine Market
9.1.5.1.1United States LNG Marine Engine Market by Engine Type
9.1.5.1.2United States LNG Marine Engine Market by End Use
9.1.5.2Canada LNG Marine Engine Market
9.1.5.2.1Canada LNG Marine Engine Market by Engine Type
9.1.5.2.2Canada LNG Marine Engine Market by End Use
9.1.5.3Mexico LNG Marine Engine Market
9.1.5.3.1Mexico LNG Marine Engine Market by Engine Type
9.1.5.3.2Mexico LNG Marine Engine Market by End Use
9.2.EUROPE
9.2.1Europe LNG Marine Engine Market Overview
9.2.2Europe LNG Marine Engine Market Forecasts and Analysis
9.2.3Europe LNG Marine Engine Market Forecasts and Analysis - By Engine Type
9.2.4Europe LNG Marine Engine Market Forecasts and Analysis - By End Use
9.2.5Europe LNG Marine Engine Market Forecasts and Analysis - By Countries
9.2.5.1Germany LNG Marine Engine Market
9.2.5.1.1Germany LNG Marine Engine Market by Engine Type
9.2.5.1.2Germany LNG Marine Engine Market by End Use
9.2.5.2France LNG Marine Engine Market
9.2.5.2.1France LNG Marine Engine Market by Engine Type
9.2.5.2.2France LNG Marine Engine Market by End Use
9.2.5.3Italy LNG Marine Engine Market
9.2.5.3.1Italy LNG Marine Engine Market by Engine Type
9.2.5.3.2Italy LNG Marine Engine Market by End Use
9.2.5.4Spain LNG Marine Engine Market
9.2.5.4.1Spain LNG Marine Engine Market by Engine Type
9.2.5.4.2Spain LNG Marine Engine Market by End Use
9.2.5.5United Kingdom LNG Marine Engine Market
9.2.5.5.1United Kingdom LNG Marine Engine Market by Engine Type
9.2.5.5.2United Kingdom LNG Marine Engine Market by End Use
9.2.5.6Russia LNG Marine Engine Market
9.2.5.6.1Russia LNG Marine Engine Market by Engine Type
9.2.5.6.2Russia LNG Marine Engine Market by End Use
9.2.5.7Rest of Europe LNG Marine Engine Market
9.2.5.7.1Rest of Europe LNG Marine Engine Market by Engine Type
9.2.5.7.2Rest of Europe LNG Marine Engine Market by End Use
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific LNG Marine Engine Market Overview
9.3.2Asia-Pacific LNG Marine Engine Market Forecasts and Analysis
9.3.3Asia-Pacific LNG Marine Engine Market Forecasts and Analysis - By Engine Type
9.3.4Asia-Pacific LNG Marine Engine Market Forecasts and Analysis - By End Use
9.3.5Asia-Pacific LNG Marine Engine Market Forecasts and Analysis - By Countries
9.3.5.1Australia LNG Marine Engine Market
9.3.5.1.1Australia LNG Marine Engine Market by Engine Type
9.3.5.1.2Australia LNG Marine Engine Market by End Use
9.3.5.2China LNG Marine Engine Market
9.3.5.2.1China LNG Marine Engine Market by Engine Type
9.3.5.2.2China LNG Marine Engine Market by End Use
9.3.5.3India LNG Marine Engine Market
9.3.5.3.1India LNG Marine Engine Market by Engine Type
9.3.5.3.2India LNG Marine Engine Market by End Use
9.3.5.4Japan LNG Marine Engine Market
9.3.5.4.1Japan LNG Marine Engine Market by Engine Type
9.3.5.4.2Japan LNG Marine Engine Market by End Use
9.3.5.5South Korea LNG Marine Engine Market
9.3.5.5.1South Korea LNG Marine Engine Market by Engine Type
9.3.5.5.2South Korea LNG Marine Engine Market by End Use
9.3.5.6Rest of Asia-Pacific LNG Marine Engine Market
9.3.5.6.1Rest of Asia-Pacific LNG Marine Engine Market by Engine Type
9.3.5.6.2Rest of Asia-Pacific LNG Marine Engine Market by End Use
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa LNG Marine Engine Market Overview
9.4.2Middle East and Africa LNG Marine Engine Market Forecasts and Analysis
9.4.3Middle East and Africa LNG Marine Engine Market Forecasts and Analysis - By Engine Type
9.4.4Middle East and Africa LNG Marine Engine Market Forecasts and Analysis - By End Use
9.4.5Middle East and Africa LNG Marine Engine Market Forecasts and Analysis - By Countries
9.4.5.1South Africa LNG Marine Engine Market
9.4.5.1.1South Africa LNG Marine Engine Market by Engine Type
9.4.5.1.2South Africa LNG Marine Engine Market by End Use
9.4.5.2Saudi Arabia LNG Marine Engine Market
9.4.5.2.1Saudi Arabia LNG Marine Engine Market by Engine Type
9.4.5.2.2Saudi Arabia LNG Marine Engine Market by End Use
9.4.5.3U.A.E LNG Marine Engine Market
9.4.5.3.1U.A.E LNG Marine Engine Market by Engine Type
9.4.5.3.2U.A.E LNG Marine Engine Market by End Use
9.4.5.4Rest of Middle East and Africa LNG Marine Engine Market
9.4.5.4.1Rest of Middle East and Africa LNG Marine Engine Market by Engine Type
9.4.5.4.2Rest of Middle East and Africa LNG Marine Engine Market by End Use
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America LNG Marine Engine Market Overview
9.5.2South and Central America LNG Marine Engine Market Forecasts and Analysis
9.5.3South and Central America LNG Marine Engine Market Forecasts and Analysis - By Engine Type
9.5.4South and Central America LNG Marine Engine Market Forecasts and Analysis - By End Use
9.5.5South and Central America LNG Marine Engine Market Forecasts and Analysis - By Countries
9.5.5.1Brazil LNG Marine Engine Market
9.5.5.1.1Brazil LNG Marine Engine Market by Engine Type
9.5.5.1.2Brazil LNG Marine Engine Market by End Use
9.5.5.2Argentina LNG Marine Engine Market
9.5.5.2.1Argentina LNG Marine Engine Market by Engine Type
9.5.5.2.2Argentina LNG Marine Engine Market by End Use
9.5.5.3Rest of South and Central America LNG Marine Engine Market
9.5.5.3.1Rest of South and Central America LNG Marine Engine Market by Engine Type
9.5.5.3.2Rest of South and Central America LNG Marine Engine Market by End Use
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.LNG MARINE ENGINE MARKET, KEY COMPANY PROFILES
11.1.ROLLS-ROYCE
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.GE
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.DAIHATSU DIESEL
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.WEICHAI
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.MAN
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.CATERPILLAR
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.ZICHAI
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.HYUNDAI HEAVY INDUSTRIES CO LTD
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.WARTSILA
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.YANMAR
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1.Rolls-Royce
2.GE
3.Daihatsu Diesel
4.Weichai
5.MAN
6.Caterpillar
7.Zichai
8.Hyundai Heavy Industries Co Ltd
9.Wartsila
10.Yanmar
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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