Marine Engines Market 2023 - CAGR Status, Major Players, Forecasts 2032

Marine Engines Global Market Report 2023

Market Size, Trends and Global Forecast 2023-2032

Marine Engines Market Definition

Marine engines refer to a heat engine used to transform heat energy into mechanical energy by burning fuel to propel a ship. It is installed or planned to be installed on a marine vessel. Marine engines are categorized as propulsion marine engine, which propels or guides the movement of a ship through the sea, and auxiliary marine engine refers to a propulsion-less marine engine.

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Marine Engines Market Characteristics:

The global marine engines market size grew from $9.48 billion in 2022 to $10.13 billion in 2023 at a compound annual growth rate (CAGR) of 6.9 The marine engines market size is expected to grow to $12.17 billion in 2027 at a CAGR of 4.7%.

Key Market Drivers And Trends

Drivers Trends

Growth in international marine freight transport is expected to drive the marine engine market.

Cloud-based technology to monitor marine engines is the key trend gaining popularity in the marine engines market.

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Marine Engines Global Market Segments:

The report covers the marine engines market’s segments-

Major companies in the market include

Key Market Players

Cummins Inc

Caterpillar Click

Mitsubishi Heavy Industries Ltd.

Volvo Penta

Wärtsilä

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