The Marine Engines Market is expected to register a CAGR of 3.8% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Power Range (Up to 1000 HP, 1001-5000 HP, 5001-10000 HP, 10001-20000 HP, Above 20000 HP); Vessel (Commercial Vessel, Offshore Support Vessel, Others); Fuel (Heavy Fuel Oil, Intermediate Fuel Oil, Marine Diesel Oil, Marine Gas Oil, Others); Engine (Propulsion Engine, Auxiliary Engine); Type (Two-Stroke, Four-Stroke). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Marine Engines Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Marine Engines Market Segmentation
Power Range- Up to 1000 HP
- 1001-5000 HP
- 5001-10000 HP
- 10001-20000 HP
- Above 20000 HP
- Commercial Vessel
- Offshore Support Vessel
- Others
- Heavy Fuel Oil
- Intermediate Fuel Oil
- Marine Diesel Oil
- Marine Gas Oil
- Others
- Propulsion Engine
- Auxiliary Engine
- Two-Stroke
- Four-Stroke
Strategic Insights
Marine Engines Market Growth Drivers- Increasing Global Trade Activities: The increasing global trade activities are the most influential for marine engines market. With increased economies and larger international trade, the demand for cargo vessels, container ships, and tankers grows, which transports goods over ocean waters. The factor is further driven by growth in the e-commerce sector and a need for logistics solutions.
- Ship design and building technology advances: Shipyards are encouraged nowadays to achieve efficiency and cost-effectiveness in commercial shipbuilding business with improved ship design and construction methodology. Advanced materials, automation, and digital technologies like 3D printing and simulation software benefit the manufacturing process and enhance vessel performance. Such technology advancements make shipbuilders more competitive while simultaneously fulfilling the expectations of shipping companies to reduce greenhouse gas emissions and operate their vessels on 'greener' fuel, which in turn driving the growth of marine engine market.
- Cost-Efficiency and Maintenance Reduction: Wire Marine engines allow for streamlined, automated maintenance. The help of IoT sensors and remote monitoring will facilitate earlier identification of problems, thus minimizing down-time and repair costs. An effective cost-saving method to deal with engine management is also a key driver for wireless systems in marine engines.
- Sustainability Programs: The attention towards sustainability is being gained regarding the maritime industry as well, and there lies a scope to build green ships by shipbuilders. An increased demand of ships compliant with enhanced environmental standards-reduced emission and increase energy efficiency-is observed. This can be a new business area for shipbuilders if they invest in R&D coming up with new designs using alternative fuels and energy-efficient technologies.
- Emerging Economies: The emerging economies, particularly Asian and African, hold enormous potential in terms of opportunities for commercial shipbuilding. As they develop infrastructure and participation within the global trade, the need for new vessels will increase. The shipbuilders might look for partnerships and joint ventures in these markets to take root on the ground and meet the growing demand from the indigenous shipping companies.
- Focus on Automation and Robotics: Trends related to automation and utilization of robotics are now increasingly adopted in the shipbuilding sector to finish the shipbuilding process through automated systems. Automation finds its use for greater production with low labor costs and improved safety measures within the shipyards. This increases productivity and, simultaneously, resolves labor issues because it allows the ship builder to maintain his output while improving the quality and precision in construction.
- Advancement Towards Autonomous Shipping: This trend towards autonomous shipping continues to gather pace, and wireless marine engines play a significant role in this development. With increasing autonomy of ships, more wireless systems will be employed in real-time monitoring, performance optimization, and control of the engine for reduced human intervention.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Marine Engines Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Marine Engines Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The leading players operating in the Marine Engines Market include AB Volvo, Caterpillar, Cummins Inc, Deere and Company, Deutz AG, Hyundai Heavy Industries [ Engine and Machinery Division], Kongsberg Maritime, MAN SE, Mitsubishi Heavy Industries Marine Machinery and Equipment Co., Ltd.
The Marine Engines Market is estimated to witness a CAGR of 3.8% from 2023 to 2031
Focus on Automation and Robotics is the key future trend of the Marine Engines Market
The major factors driving the Marine Engines Market are: Increasing Global Trade Activities#Ship design and building technology advances
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Marine Engines Market - By Power Range
1.3.2Marine Engines Market - By Vessel
1.3.3Marine Engines Market - By Fuel
1.3.4Marine Engines Market - By Engine
1.3.5Marine Engines Market - By Type
1.3.6Marine Engines Market - By Region
1.3.6.1By Country
2.KEY TAKEWAYS
3.RESEARCH METHODOLOGY
4.MARINE ENGINES 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.MARINE ENGINES 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6.MARINE ENGINES MARKET - GLOBAL MARKET ANALYSIS
6.1.MARINE ENGINES - GLOBAL MARKET OVERVIEW
6.2.MARINE ENGINES - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.MARINE ENGINES MARKET - REVENUE AND FORECASTS TO 2028 - POWER RANGE
7.1.OVERVIEW
7.2.POWER RANGE MARKET FORECASTS AND ANALYSIS
7.3.UP TO 1000 HP
7.3.1.Overview
7.3.2.Up to 1000 HP Market Forecast and Analysis
7.4.1001-5000 HP
7.4.1.Overview
7.4.2.1001-5000 HP Market Forecast and Analysis
7.5.5001-10000 HP
7.5.1.Overview
7.5.2.5001-10000 HP Market Forecast and Analysis
7.6.10001-20000 HP
7.6.1.Overview
7.6.2.10001-20000 HP Market Forecast and Analysis
7.7.ABOVE 20000 HP
7.7.1.Overview
7.7.2.Above 20000 HP Market Forecast and Analysis
8.MARINE ENGINES MARKET - REVENUE AND FORECASTS TO 2028 - VESSEL
8.1.OVERVIEW
8.2.VESSEL MARKET FORECASTS AND ANALYSIS
8.3.COMMERCIAL VESSEL
8.3.1.Overview
8.3.2.Commercial Vessel Market Forecast and Analysis
8.4.OFFSHORE SUPPORT VESSEL
8.4.1.Overview
8.4.2.Offshore Support Vessel Market Forecast and Analysis
8.5.OTHERS
8.5.1.Overview
8.5.2.Others Market Forecast and Analysis
9.MARINE ENGINES MARKET - REVENUE AND FORECASTS TO 2028 - FUEL
9.1.OVERVIEW
9.2.FUEL MARKET FORECASTS AND ANALYSIS
9.3.HEAVY FUEL OIL
9.3.1.Overview
9.3.2.Heavy Fuel Oil Market Forecast and Analysis
9.4.INTERMEDIATE FUEL OIL
9.4.1.Overview
9.4.2.Intermediate Fuel Oil Market Forecast and Analysis
9.5.MARINE DIESEL OIL
9.5.1.Overview
9.5.2.Marine Diesel Oil Market Forecast and Analysis
9.6.MARINE GAS OIL
9.6.1.Overview
9.6.2.Marine Gas Oil Market Forecast and Analysis
9.7.OTHERS
9.7.1.Overview
9.7.2.Others Market Forecast and Analysis
10.MARINE ENGINES MARKET - REVENUE AND FORECASTS TO 2028 - ENGINE
10.1.OVERVIEW
10.2.ENGINE MARKET FORECASTS AND ANALYSIS
10.3.PROPULSION ENGINE
10.3.1.Overview
10.3.2.Propulsion Engine Market Forecast and Analysis
10.4.AUXILIARY ENGINE
10.4.1.Overview
10.4.2.Auxiliary Engine Market Forecast and Analysis
11.MARINE ENGINES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
11.1.OVERVIEW
11.2.TYPE MARKET FORECASTS AND ANALYSIS
11.3.TWO-STROKE
11.3.1.Overview
11.3.2.Two-Stroke Market Forecast and Analysis
11.4.FOUR-STROKE
11.4.1.Overview
11.4.2.Four-Stroke Market Forecast and Analysis
12.MARINE ENGINES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
12.1.NORTH AMERICA
12.1.1North America Marine Engines Market Overview
12.1.2North America Marine Engines Market Forecasts and Analysis
12.1.3North America Marine Engines Market Forecasts and Analysis - By Power Range
12.1.4North America Marine Engines Market Forecasts and Analysis - By Vessel
12.1.5North America Marine Engines Market Forecasts and Analysis - By Fuel
12.1.6North America Marine Engines Market Forecasts and Analysis - By Engine
12.1.7North America Marine Engines Market Forecasts and Analysis - By Type
12.1.8North America Marine Engines Market Forecasts and Analysis - By Countries
12.1.8.1United States Marine Engines Market
12.1.8.1.1United States Marine Engines Market by Power Range
12.1.8.1.2United States Marine Engines Market by Vessel
12.1.8.1.3United States Marine Engines Market by Fuel
12.1.8.1.4United States Marine Engines Market by Engine
12.1.8.1.5United States Marine Engines Market by Type
12.1.8.2Canada Marine Engines Market
12.1.8.2.1Canada Marine Engines Market by Power Range
12.1.8.2.2Canada Marine Engines Market by Vessel
12.1.8.2.3Canada Marine Engines Market by Fuel
12.1.8.2.4Canada Marine Engines Market by Engine
12.1.8.2.5Canada Marine Engines Market by Type
12.1.8.3Mexico Marine Engines Market
12.1.8.3.1Mexico Marine Engines Market by Power Range
12.1.8.3.2Mexico Marine Engines Market by Vessel
12.1.8.3.3Mexico Marine Engines Market by Fuel
12.1.8.3.4Mexico Marine Engines Market by Engine
12.1.8.3.5Mexico Marine Engines Market by Type
12.2.EUROPE
12.2.1Europe Marine Engines Market Overview
12.2.2Europe Marine Engines Market Forecasts and Analysis
12.2.3Europe Marine Engines Market Forecasts and Analysis - By Power Range
12.2.4Europe Marine Engines Market Forecasts and Analysis - By Vessel
12.2.5Europe Marine Engines Market Forecasts and Analysis - By Fuel
12.2.6Europe Marine Engines Market Forecasts and Analysis - By Engine
12.2.7Europe Marine Engines Market Forecasts and Analysis - By Type
12.2.8Europe Marine Engines Market Forecasts and Analysis - By Countries
12.2.8.1Germany Marine Engines Market
12.2.8.1.1Germany Marine Engines Market by Power Range
12.2.8.1.2Germany Marine Engines Market by Vessel
12.2.8.1.3Germany Marine Engines Market by Fuel
12.2.8.1.4Germany Marine Engines Market by Engine
12.2.8.1.5Germany Marine Engines Market by Type
12.2.8.2France Marine Engines Market
12.2.8.2.1France Marine Engines Market by Power Range
12.2.8.2.2France Marine Engines Market by Vessel
12.2.8.2.3France Marine Engines Market by Fuel
12.2.8.2.4France Marine Engines Market by Engine
12.2.8.2.5France Marine Engines Market by Type
12.2.8.3Italy Marine Engines Market
12.2.8.3.1Italy Marine Engines Market by Power Range
12.2.8.3.2Italy Marine Engines Market by Vessel
12.2.8.3.3Italy Marine Engines Market by Fuel
12.2.8.3.4Italy Marine Engines Market by Engine
12.2.8.3.5Italy Marine Engines Market by Type
12.2.8.4United Kingdom Marine Engines Market
12.2.8.4.1United Kingdom Marine Engines Market by Power Range
12.2.8.4.2United Kingdom Marine Engines Market by Vessel
12.2.8.4.3United Kingdom Marine Engines Market by Fuel
12.2.8.4.4United Kingdom Marine Engines Market by Engine
12.2.8.4.5United Kingdom Marine Engines Market by Type
12.2.8.5Russia Marine Engines Market
12.2.8.5.1Russia Marine Engines Market by Power Range
12.2.8.5.2Russia Marine Engines Market by Vessel
12.2.8.5.3Russia Marine Engines Market by Fuel
12.2.8.5.4Russia Marine Engines Market by Engine
12.2.8.5.5Russia Marine Engines Market by Type
12.2.8.6Rest of Europe Marine Engines Market
12.2.8.6.1Rest of Europe Marine Engines Market by Power Range
12.2.8.6.2Rest of Europe Marine Engines Market by Vessel
12.2.8.6.3Rest of Europe Marine Engines Market by Fuel
12.2.8.6.4Rest of Europe Marine Engines Market by Engine
12.2.8.6.5Rest of Europe Marine Engines Market by Type
12.3.ASIA-PACIFIC
12.3.1Asia-Pacific Marine Engines Market Overview
12.3.2Asia-Pacific Marine Engines Market Forecasts and Analysis
12.3.3Asia-Pacific Marine Engines Market Forecasts and Analysis - By Power Range
12.3.4Asia-Pacific Marine Engines Market Forecasts and Analysis - By Vessel
12.3.5Asia-Pacific Marine Engines Market Forecasts and Analysis - By Fuel
12.3.6Asia-Pacific Marine Engines Market Forecasts and Analysis - By Engine
12.3.7Asia-Pacific Marine Engines Market Forecasts and Analysis - By Type
12.3.8Asia-Pacific Marine Engines Market Forecasts and Analysis - By Countries
12.3.8.1Australia Marine Engines Market
12.3.8.1.1Australia Marine Engines Market by Power Range
12.3.8.1.2Australia Marine Engines Market by Vessel
12.3.8.1.3Australia Marine Engines Market by Fuel
12.3.8.1.4Australia Marine Engines Market by Engine
12.3.8.1.5Australia Marine Engines Market by Type
12.3.8.2China Marine Engines Market
12.3.8.2.1China Marine Engines Market by Power Range
12.3.8.2.2China Marine Engines Market by Vessel
12.3.8.2.3China Marine Engines Market by Fuel
12.3.8.2.4China Marine Engines Market by Engine
12.3.8.2.5China Marine Engines Market by Type
12.3.8.3India Marine Engines Market
12.3.8.3.1India Marine Engines Market by Power Range
12.3.8.3.2India Marine Engines Market by Vessel
12.3.8.3.3India Marine Engines Market by Fuel
12.3.8.3.4India Marine Engines Market by Engine
12.3.8.3.5India Marine Engines Market by Type
12.3.8.4Japan Marine Engines Market
12.3.8.4.1Japan Marine Engines Market by Power Range
12.3.8.4.2Japan Marine Engines Market by Vessel
12.3.8.4.3Japan Marine Engines Market by Fuel
12.3.8.4.4Japan Marine Engines Market by Engine
12.3.8.4.5Japan Marine Engines Market by Type
12.3.8.5South Korea Marine Engines Market
12.3.8.5.1South Korea Marine Engines Market by Power Range
12.3.8.5.2South Korea Marine Engines Market by Vessel
12.3.8.5.3South Korea Marine Engines Market by Fuel
12.3.8.5.4South Korea Marine Engines Market by Engine
12.3.8.5.5South Korea Marine Engines Market by Type
12.3.8.6Rest of Asia-Pacific Marine Engines Market
12.3.8.6.1Rest of Asia-Pacific Marine Engines Market by Power Range
12.3.8.6.2Rest of Asia-Pacific Marine Engines Market by Vessel
12.3.8.6.3Rest of Asia-Pacific Marine Engines Market by Fuel
12.3.8.6.4Rest of Asia-Pacific Marine Engines Market by Engine
12.3.8.6.5Rest of Asia-Pacific Marine Engines Market by Type
12.4.MIDDLE EAST AND AFRICA
12.4.1Middle East and Africa Marine Engines Market Overview
12.4.2Middle East and Africa Marine Engines Market Forecasts and Analysis
12.4.3Middle East and Africa Marine Engines Market Forecasts and Analysis - By Power Range
12.4.4Middle East and Africa Marine Engines Market Forecasts and Analysis - By Vessel
12.4.5Middle East and Africa Marine Engines Market Forecasts and Analysis - By Fuel
12.4.6Middle East and Africa Marine Engines Market Forecasts and Analysis - By Engine
12.4.7Middle East and Africa Marine Engines Market Forecasts and Analysis - By Type
12.4.8Middle East and Africa Marine Engines Market Forecasts and Analysis - By Countries
12.4.8.1South Africa Marine Engines Market
12.4.8.1.1South Africa Marine Engines Market by Power Range
12.4.8.1.2South Africa Marine Engines Market by Vessel
12.4.8.1.3South Africa Marine Engines Market by Fuel
12.4.8.1.4South Africa Marine Engines Market by Engine
12.4.8.1.5South Africa Marine Engines Market by Type
12.4.8.2Saudi Arabia Marine Engines Market
12.4.8.2.1Saudi Arabia Marine Engines Market by Power Range
12.4.8.2.2Saudi Arabia Marine Engines Market by Vessel
12.4.8.2.3Saudi Arabia Marine Engines Market by Fuel
12.4.8.2.4Saudi Arabia Marine Engines Market by Engine
12.4.8.2.5Saudi Arabia Marine Engines Market by Type
12.4.8.3U.A.E Marine Engines Market
12.4.8.3.1U.A.E Marine Engines Market by Power Range
12.4.8.3.2U.A.E Marine Engines Market by Vessel
12.4.8.3.3U.A.E Marine Engines Market by Fuel
12.4.8.3.4U.A.E Marine Engines Market by Engine
12.4.8.3.5U.A.E Marine Engines Market by Type
12.4.8.4Rest of Middle East and Africa Marine Engines Market
12.4.8.4.1Rest of Middle East and Africa Marine Engines Market by Power Range
12.4.8.4.2Rest of Middle East and Africa Marine Engines Market by Vessel
12.4.8.4.3Rest of Middle East and Africa Marine Engines Market by Fuel
12.4.8.4.4Rest of Middle East and Africa Marine Engines Market by Engine
12.4.8.4.5Rest of Middle East and Africa Marine Engines Market by Type
12.5.SOUTH AND CENTRAL AMERICA
12.5.1South and Central America Marine Engines Market Overview
12.5.2South and Central America Marine Engines Market Forecasts and Analysis
12.5.3South and Central America Marine Engines Market Forecasts and Analysis - By Power Range
12.5.4South and Central America Marine Engines Market Forecasts and Analysis - By Vessel
12.5.5South and Central America Marine Engines Market Forecasts and Analysis - By Fuel
12.5.6South and Central America Marine Engines Market Forecasts and Analysis - By Engine
12.5.7South and Central America Marine Engines Market Forecasts and Analysis - By Type
12.5.8South and Central America Marine Engines Market Forecasts and Analysis - By Countries
12.5.8.1Brazil Marine Engines Market
12.5.8.1.1Brazil Marine Engines Market by Power Range
12.5.8.1.2Brazil Marine Engines Market by Vessel
12.5.8.1.3Brazil Marine Engines Market by Fuel
12.5.8.1.4Brazil Marine Engines Market by Engine
12.5.8.1.5Brazil Marine Engines Market by Type
12.5.8.2Argentina Marine Engines Market
12.5.8.2.1Argentina Marine Engines Market by Power Range
12.5.8.2.2Argentina Marine Engines Market by Vessel
12.5.8.2.3Argentina Marine Engines Market by Fuel
12.5.8.2.4Argentina Marine Engines Market by Engine
12.5.8.2.5Argentina Marine Engines Market by Type
12.5.8.3Rest of South and Central America Marine Engines Market
12.5.8.3.1Rest of South and Central America Marine Engines Market by Power Range
12.5.8.3.2Rest of South and Central America Marine Engines Market by Vessel
12.5.8.3.3Rest of South and Central America Marine Engines Market by Fuel
12.5.8.3.4Rest of South and Central America Marine Engines Market by Engine
12.5.8.3.5Rest of South and Central America Marine Engines Market by Type
13.INDUSTRY LANDSCAPE
13.1.MERGERS AND ACQUISITIONS
13.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
13.3.NEW PRODUCT LAUNCHES
13.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14.MARINE ENGINES MARKET, KEY COMPANY PROFILES
14.1.AB VOLVO
14.1.1.Key Facts
14.1.2.Business Description
14.1.3.Products and Services
14.1.4.Financial Overview
14.1.5.SWOT Analysis
14.1.6.Key Developments
14.2.CATERPILLAR
14.2.1.Key Facts
14.2.2.Business Description
14.2.3.Products and Services
14.2.4.Financial Overview
14.2.5.SWOT Analysis
14.2.6.Key Developments
14.3.CUMMINS INC
14.3.1.Key Facts
14.3.2.Business Description
14.3.3.Products and Services
14.3.4.Financial Overview
14.3.5.SWOT Analysis
14.3.6.Key Developments
14.4.DEERE AND COMPANY
14.4.1.Key Facts
14.4.2.Business Description
14.4.3.Products and Services
14.4.4.Financial Overview
14.4.5.SWOT Analysis
14.4.6.Key Developments
14.5.DEUTZ AG
14.5.1.Key Facts
14.5.2.Business Description
14.5.3.Products and Services
14.5.4.Financial Overview
14.5.5.SWOT Analysis
14.5.6.Key Developments
14.6.HYUNDAI HEAVY INDUSTRIES [ ENGINE AND MACHINERY DIVISION]
14.6.1.Key Facts
14.6.2.Business Description
14.6.3.Products and Services
14.6.4.Financial Overview
14.6.5.SWOT Analysis
14.6.6.Key Developments
14.7.KONGSBERG MARITIME
14.7.1.Key Facts
14.7.2.Business Description
14.7.3.Products and Services
14.7.4.Financial Overview
14.7.5.SWOT Analysis
14.7.6.Key Developments
14.8.MAN SE
14.8.1.Key Facts
14.8.2.Business Description
14.8.3.Products and Services
14.8.4.Financial Overview
14.8.5.SWOT Analysis
14.8.6.Key Developments
14.9.MITSUBISHI HEAVY INDUSTRIES MARINE MACHINERY AND EQUIPMENT CO., LTD.
14.9.1.Key Facts
14.9.2.Business Description
14.9.3.Products and Services
14.9.4.Financial Overview
14.9.5.SWOT Analysis
14.9.6.Key Developments
14.10.WARTSILA
14.10.1.Key Facts
14.10.2.Business Description
14.10.3.Products and Services
14.10.4.Financial Overview
14.10.5.SWOT Analysis
14.10.6.Key Developments
15.APPENDIX
15.1.ABOUT THE INSIGHT PARTNERS
15.2.GLOSSARY OF TERMS
1. AB Volvo
2. Caterpillar
3. Cummins Inc
4. Deere and Company
5. Deutz AG
6. Hyundai Heavy Industries [ Engine and Machinery Division]
7. Kongsberg Maritime
8. MAN SE
9. Mitsubishi Heavy Industries Marine Machinery and Equipment Co. , Ltd.
10. Wartsila
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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