APAC LNG Marine Engine Market to generate lucrative proceeds by 2025: Global Market Insights, Inc.
Commercial LNG marine engine market size will witness growth owing to growing demand for container and tanker vessels, gas & bulk carriers along with an upsurge in shipbuilding activities.
Selbyville, United States – July 10, 2019 /MarketersMedia/ —
Global Market Insights Inc. announces an ongoing comprehensive report on the “LNG Marine Engine Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, Norway, France, Austria, Romania, Greece, China, Japan, India, South Korea, Australia, Singapore, UAE, South Africa, Brazil, Argentina, Mexico) Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025”.
This report provides an exhaustive account of the industry including:
• LNG marine engine market size, historical from 2014 to 2018 and annual forecast from 2019 to 2025
• Major LNG marine engine industry trends, technology evolution, economic indicators and business challenges
• Regulatory and geopolitical trends impacting the industry
• Business drivers and pitfalls impacting key regional markets
• Competitive landscape of the industry and detailed profiles on the major companies
Request For Table Of Content @ https://www.gminsights.com/request-toc/upcoming/3762
Increasing demand for fuel-efficient ships will drive LNG marine engine market size. LNG-fueled engines have gained increased traction on account of the ever-expanding global tourism sector and rising tourist traffic over recent years. According to National Statistical Office reports, total cruise passenger traffic was recorded at 78,051 during the first quarter of 2019, increasing 11.9% over the corresponding period in 2018.
Rising technological advancements have led to production of low-emission LNG-powered ships, bolstering LNG marine engine market size. Increasing production of eco-friendly and fuel-efficient maritime propulsion systems with leading LNG-powered engines will drive the industry share.
Cargo ship segment will offer modest proceeds to LNG marine engine market. Driven by increasing demand for LNG-powered ships, the LNG bunkering sector has expanded significantly over recent years. Growing demand for fuel-efficient and reliable marine propulsion systems has led manufacturers to develop advanced LNG marine engines.
Browse Complete Summary of this report @ https://www.gminsights.com/industry-analysis/lng-marine-engine-market
Asia-Pacific LNG marine engine market will register substantial gains over the forecast period. Rapid shift towards low-emission marine fuel coupled with stringent emission standards have accelerated LNG-powered ships demand in the region. Additionally, growing investment in LNG bunker building sector is estimated to expand APAC market size. Numerous companies have announced the production of LNG bunker vessels, which may go operational in a year or two.
APAC’s LNG marine engine market growth will mainly be supported by the rising expansion of the shipbuilding sector across countries like China. In fact, it has recently been speculated that China’s first seagoing LNG bunker vessel is under construction and will soon go operational.
Major players operating in LNG marine engine market include Caterpillar, Brunswick Corp., Anglo Belgian, Cummins, Deutz, John Deere, Rolls Royce, Yanmar, Turbo, Scania, Volvo Penta, IHI Corp., Wärtsilä, and Yuchai among others. Often, these companies engage in diverse growth tactics to expand their revenue share and reach across the globe.
Related Report:
Marine Engines Market Size By Fuel (MDO, MGO, LNG, Hybrid), By Power ( 20,000 HP), By Technology (Low Speed, Medium Speed, High Speed), By Propulsion (2-Stroke, 4-Stroke), By Application (Commercial [Container Vessels, Tankers, Bulk Carriers, Roll On/Roll Off], Offshore [AHTS, PSV, MPSV], Recreational [Cruise Ships, Ferries, Yachts], Navy), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, Norway, France, Russia, Denmark, Netherlands, Belgium, China, Japan, India, South Korea, Australia, Vietnam, Singapore, Saudi Arabia, UAE, Iran, Angola, Egypt, South Africa, Brazil, Argentina, Mexico) Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024
https://www.gminsights.com/industry-analysis/marine-engines-market
Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/industry-analysis/lng-marine-engine-market
Source: MarketersMedia
Release ID: 88894636
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