Rising demand for high-value pleasure vessels such as yachts and cruise ships is estimated to drive the growth of market over the next six years. Additionally, increasing demand for commercial boats and ships engaged in transportation and trade is anticipated to trigger growth in the industry.The demand for bio-diesel generator sets is estimated to escalate over the forecast period and is anticipated to contribute significantly to industry expansion. Increasing emphasis on adoption of non-conventional & renewable sources of energy and the need for minimizing vessel emissions can be attributed as a major reason for rise in demand for bio-diesel generator sets. Rising oil prices and high maintenance costs are expected to affect the demand for diesel based gensets.
The marine gensets market can be classified on the basis of end-use vertical into three types; pleasure or leisure, commercial, and defense vessel segments. Pleasure vessels include cruise ships, ferries, sports & sailing yachts, ocean liners, and catamaran watercrafts. Continuous surge in leisure and recreational activities is projected to increase the demand for generator sets in pleasure vessel category.
Commercial vessels comprise bulk carriers, auto carriers, cargo ships, merchant ships, reefers, tankers & super tankers, and tug boats. An increase in seaborne trade and freight carriages presumed to positively impact the industry growth. Cargo ships are being used increasingly in maritime business activities and it has helped in maintaining the industry prospects upbeat. Naval warfare and maritime defense along with monitoring, control & surveillance activities in international waters is predicted to propel the demand for defense vessels. Defense vessels mainly include guide missile cruisers, aircraft carriers, mine sweepers & hunters, and coast- guard & police- patrolling vessels. An overall increase in defense spending across the globe is anticipated to lead the growth of generator sets in defense vessels segment.
Marine gensets can be segmented on the basis of power generation capacity into three types; capacity less than 500 kW, 501-1000 kW and 1001-3000 kW capacity. Generator sets with power generation capacity less than 500 kW are widely used in small watercrafts and pleasure vessels.
Marine generator sets are expected to gain prominence in the Asia Pacific region owing to emerging demand for hybrid generator sets in countries such as Japan and China as such gensets emit fewer greenhouse gases and use clean technology. Hybrid generator sets produce power through solar energy and bio-fuel such as bio-diesel and subsequently contribute in creating a sustainable environment. Expansion of the shipbuilding industry in countries such as China, Japan and South Korea is expected to impel growth in the Asia Pacific region. Low labor costs and increased government spending on ship building activities can be attributed as a major reason for this rise.
Power generation activities along with oil and gas exploration and extraction processes is anticipated to emerge as a key driving factor for ships and commercial vessel manufacturing in the European region.High competition from low-cost vendors selling brushless marine generator sets has hampered the growth opportunities. Moreover, the onset of financial crisis combined with Eurozone recession has affected the demand for commercial vessels and has consequently lowered the demand for gensets in the European region.
Growing dependence on road haulage owing to faster on-site goods transport has led to a decline in seaborne trade and is consequently lowering the demand for such gensets. Moreover, rising fuel prices and political & economic instability may restrict the opportunities of industry expansion. High competition from low-cost manufacturers could pose a challenge to the growth of marine gensets market. Key vendors dominating the marine gensets market are ABB Group, Broadcrown Ltd., Caterpiller, Inc., Cummins, Inc., Delta Marine Industries Inc., Generac Power Systems, Inc., General Electric Company, JCB Ltd., Kohler Co., Lees Group Ltd., Man Diesel & Turbo SE,Mitsubishi Group, Siemens AG, and Yanmar Co. Ltd.
The major manufacturers covered in this report
• Mitsubishi Heavy Industries
• Man Diesel & Turbo
• Valley Power Systems
• Dresser Rand
• Daihatsu Diesel MFG
• Rolls-Royce Power System
• Sole Diesel
Geographically, this report studies the top producers and consumers, focuses on product capacity, production, value, consumption, market share and growth opportunity in these key regions, covering
• North America
• South Korea
• Other Regions
The regional scope of the study is as follows:
• North America
• United States
• South Korea
• Rest of Asia-Pacific
• Rest of Europe
• Central & South America
• Rest of South America
• Middle East & Africa
• Saudi Arabia
• Rest of Middle East & Africa
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
• Diesel Fuel Marine Gensets
• Gas Fuel Marine Gensets
• Hybrid Fuel Marine Gensets
On the basis of the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including
• Commercial Vessels
• Offshore Support Vessels
• Defense Vessels
The key points of this report are:
• To analyze and study the global Marine Gensets capacity, production, value, consumption, status (2013-2017) and forecast (2018-2025);
• Focuses on the key Marine Gensets manufacturers, to study the capacity, production, value, market share and development plans in future.
• Focuses on the global key manufacturers, to define, describe and analyze the market competition landscape, SWOT analysis.
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.
• Marine Gensets Manufacturers
• Marine Gensets Distributors/Traders/Wholesalers
• Marine Gensets Subcomponent Manufacturers
• Industry Association
• Downstream Vendors
Research Support Specialist, USA