North American Marine Diesel Engine Market size is estimated to grow at a significant CAGR from 2021 to 2027, according to a latest forecast report by Graphical Research.
The market growth is owing to the increasing demand for economically feasible units with various features including reliability, durability, and fuel efficiency. Accelerating seaborne trade across emerging nations coupled with the growing inclination towards diesel engines and focus on system advancement of shipping industry is witnessed to drive the market outlook.
Various government initiatives to restrict marine pollution across ECAs will further influence the requirement for low emission engines, which might incline the industry players toward eco-friendly diesel. Deteriorating crude oil prices in addition to the rising seaborne passenger traffic is anticipated to stimulate the market growth. Furthermore, introduction of emission reduction technologies and its utilization with diesel engines to mitigate pollution will encourage the industry landscape.
Offshore diesel engine market is projected to witness healthy growth through 2027 on account of growing awareness concerning environmental sustainability and increase in retrofitting activities with a target to install clean engines in existing ships will propel the industry outlook. Moreover, abatement in CO2 emissions combined with competitive pricing within the commercially feasible areas are some of the primary parameters stimulating the market demand.
Browse detailed statistical insights from the report, “North America Marine Diesel Engine Market Forecast 2027 By Technology (Low Speed, Medium Speed, High Speed), By Application (Merchant, Offshore, Cruise & Ferry, Navy), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Medium speed technology segment is poised to rise substantially over the projected timeframe attributed to wide application base and high thermal efficiency. Boosting demand for recreational vessels including passenger vessels, ferries, cruise along with the escalating marine tourism are some crucial factors encouraging the industry outlook. Additionally, several cruise ship producers are focusing on the expansion of their portfolio by releasing state-of-the-art vessels created to deliver better passenger experience.
Canada marine diesel engine market will gain remarkable momentum during the forecast timeline owing to the rising incidence of retrofitting activities due to the strict government mandates coupled with the increasing tourism within the Caribbean will influence the industry expansion. The growing demand for battle forces & commercial vessels, surge in export and import activities, and increasing development toward ship building will encourage the product adoption.
The North American marine diesel engine market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
North America Market, By Technology
- Low Speed
- Medium Speed
- High Speed
North America Market, By Application
- Container Vessels
- Bulk Carriers
- Gas Carriers
- Drilling Rigs & Ships
- Anchor Handling Vessels
- Offshore Support Vessels
- Floating Production Units
- Platform Supply Vessels
- Cruise & Ferry
- Cruise Vessels
- Passenger Ferries
- Passenger Cargo Vessels
The above information has been provided for the following countries: