"The Report Global
Marine Auxiliary Engine Market 2017-2021 provides information on
pricing, market analysis, shares, forecast, and company profiles for
key industry participants. - MarketResearchReports.biz"
MarketResearchReports.biz has
announced the addition of a new market research report to its report
repository. The publication is titled,
Global Marine Auxiliary Engine Market 2017-2021.”
The report provides information on historical and futuristic growth
trajectory of the global market for marine auxiliary engine. The
research report present an outline of the facets that are responsible
for the changes occurring in the market and further evaluates them in
an orderly manner. The impact of certain progressive factors has also
been treated with equal importance in the market research report. It
also provides data on the shares, marketing and publicity strategies,
and products of the leading companies.
The key driver of the market is
the growing demand for energy thus fuelling the growth of FPSO
vessels further supported with the introduction of turbochargers in
marine auxiliary engines. The global market of marine auxiliary
engine is expected to rise at a steady rate and exhibit a CAGR over
3% along the forecast period. The demand for dual fuel auxiliary
engine will be supplemented by the progress in the segment of
liquefied natural gas. This in turn is expected to bolster the growth
opportunities in the global marine auxiliary engine market till the
end of 2021. Another of the prime factors influencing the growth of
the global marine auxiliary engine market is the progress in the
global LNG market owing to the rising population that triggers
consumption of energy. Moreover, with the rising number of countries
involved in the import and export of LNG, the volume of LNG trade is
anticipated to gush in the upcoming years. This rise in LNG trade is
expected to increase the level of dependence of various countries on
commercial ships and shipbuilding industries, further increasing the
consumption for marine auxiliary engines.
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The waste heat recovery (WHR)
system employs energy exhausted from marine engines for lifting their
fuel efficiency and also for reducing the pollution level through
marine vessels. As a result, there is likely to be an exponential
rise in the incorporation of waste heat recovery system in these
vessels, which is going to be a major trend gaining traction in the
market over the coming years.
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In terms of end user, the
commercial segment led the market accounting for the major share in
2016 and is expected to retain its dominance over the coming years.
The factors responsible in the growth of this segment are
cost-effectiveness associated with it and the rising demand for
commercial ships. Region-wise, Asia Pacific emerged as the leading
region in 2016 and will maintain a leading position until 2021. The
countries influencing the market growth in this region are Japan,
China, and South Korea. Some of the leading companies operating in
the market are Yanmar, Wärtsilä, Doosan Infracore, Cummins, and
Caterpillar.
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