Global Auxiliary Marine Engine Market Overview
Auxiliary Marine Engine Market Size was valued at USD 17983.64 million in 2022. The Auxiliary Marine Engine Market industry is projected to grow from USD 18857.64 million in 2023 to USD 26530.52 million by 2030, exhibiting a compound annual growth rate (CAGR) of 5% during the forecast period (2023 - 2030).
The marine auxiliary engine market has witnessed significant growth and development in recent years. The market dynamics can be attributed to several key factors shaping the industry landscape. One of the primary drivers of the marine auxiliary engine market is the increasing demand for marine vessels across the globe. The growth in international trade, coupled with the rising demand for offshore exploration and production activities, has led to an upsurge in the construction of new ships and offshore platforms. This, in turn, has boosted the demand for marine auxiliary engines that power various auxiliary systems onboard these vessels. Another factor driving the market is the stringent environmental regulations that various international maritime organizations and governments impose. These regulations focus on reducing emissions and improving fuel efficiency in marine operations. As a result, there has been a growing preference for marine auxiliary engines that comply with these environmental standards, such as engines with low emissions and alternative fuel capabilities. Technological advancements in marine auxiliary engines have also significantly impacted market growth. Engine manufacturers continuously invest in research and development activities to introduce advanced engine technologies that offer better performance, enhanced fuel efficiency, and reduced maintenance requirements. This has led to introducing of innovative products such as hybrid propulsion systems, dual-fuel engines, and exhaust gas cleaning systems, which are gaining popularity in the market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Auxiliary Marine Engine Market Trends
INCREASING DEMAND FOR MARINE TRANSPORTATION
Marine auxiliary engines play a crucial role in meeting the growing demand for marine transportation worldwide. The global trade industry is experiencing significant expansion, leading to an increased need for efficient and reliable vessels to transport goods and passengers across the seas. These engines power various types of marine vessels, including cruise ships, cargo ships, and fishing boats, enabling them to navigate through the water. Maritime transport is an essential component of international trade. According to the United Nations Conference on Trade and Development (UNCTAD), approximately 80% of the volume of global trade in goods is transported by sea, with developing countries relying even more heavily on this mode of transportation. Compared to alternatives such as road, rail, and air transport, maritime shipping offers a more cost-effective and practical solution for international trade. The demand for marine auxiliary engines is closely tied to the growth of global maritime trade, which is projected to continue expanding at a moderate annual rate from 2022 to 2026. The COVID-19 pandemic had a significant impact on the shipping industry in 2020, leading to a decline in trade. However, as economies began to recover and restrictions were lifted in 2021, there was a surge in demand for maritime transport. This sudden increase in demand resulted in shortages of shipping capacity, containers, and equipment. To address this demand-supply gap, many shipowners had to acquire new or retrofitted vessels.
The Asia Pacific region has emerged as a major manufacturing hub due to its abundant raw materials and skilled workforce. Consequently, there is a substantial demand for container ships in this region, driven by the increase in the export of manufactured and raw goods. Additionally, the reopening of economies in 2021 led to a rise in oil demand, an increase in OPEC production, and the expansion of Asian economies. As countries transition towards decarbonization, natural gas is being recognized as a low-carbon energy source. This shift is expected to drive the global gas trade, further increasing the demand for marine vessels. Furthermore, the dry bulk maritime trade, which accounted for a significant portion of total maritime trade volumes during 2020-2021, is anticipated to continue growing.
Auxiliary Marine Engine Market Segment Insights
Auxiliary Marine Engine by Power Range Insights
The Auxiliary Marine Engine Market segmentation, based on the power range, the global Auxiliary Marine Engines market has been bifurcated into Up to 350 HP, 350 to 650 HP and 650 to 1000 HP. In 2022, the 350 to 650 HP segment drove the Auxiliary Marine Engine Market by holding a substantial market share. It is projected to register a CAGR of 5.18% during the projected timeframe. Marine auxiliary engines in the power range of 350 to 650 horsepower are commonly found in medium-sized vessels and certain larger boats. These engines offer higher power output compared to smaller counterparts, enabling them to support a wider range of auxiliary systems and equipment. They are often utilized to drive larger generators, hydraulic systems, and propulsion systems in specific vessel types. The engines in this category are designed with a focus on achieving a balance between power, fuel efficiency, and space considerations. This ensures their suitability for various marine applications, where they can effectively meet the demands of different onboard systems while optimizing fuel consumption and accommodating spatial limitations. There are a number of different manufacturers of marine auxiliary engines in this power range. Some of the most well-known manufacturers include Caterpillar, Cummins, Yanmar, and Volvo Penta. These manufacturers offer a variety of engines to choose from, with different features and specifications to meet the needs of different vessels.
Analyst Review: The Auxiliary Marine Engine Market is experiencing rapid growth, fueled by increased governmental support, a strong emphasis on sustainability, and advances in technology. This sector is pivotal in enhancing maritime energy efficiency and reducing environmental impact. As auxiliary marine engines become more innovative, they will play a key role in transforming maritime operations and supporting eco-friendly practices.
Auxiliary Marine Engine By Fuel Type Insights
Based on the Fuel Type, the global Auxiliary Marine Engines market has been bifurcated into Diesel and Gas. In 2022, the gas segment drove the Auxiliary Marine Engine Market by holding a substantial market share during the assessment period. This segment accounted for the largest share of the market in 2022 and is expected to remain dominant during the forecast period. The demand for gas marine auxiliary engines has steadily increased in recent years due to several factors. One of the key drivers of this demand is the growing emphasis on environmental sustainability and the need to reduce emissions in the maritime industry. Gas engines, particularly those powered by natural gas or liquefied natural gas (LNG), offer significant advantages over traditional diesel engines in lower emissions and improved air quality. Stringent environmental regulations and emission standards imposed by international organizations and governments have prompted shipbuilders and operators to seek alternative propulsion solutions. Gas marine auxiliary engines are viable for meeting these requirements while ensuring compliance with environmental norms. They emit fewer pollutants such as sulfur oxides (SOx), nitrogen oxides (NOx), and particulate matter, resulting in cleaner and greener maritime operations. Furthermore, the availability and accessibility of natural gas have contributed to the rising demand for gas marine auxiliary engines. Natural gas is a relatively abundant and cost-effective fuel source, making it an attractive option for ship owners and operators. The expansion of LNG infrastructure, including liquefaction plants and bunkering facilities, has improved the supply chain and made natural gas a viable option for marine applications.
Auxiliary Marine Engine By Vessel Insights
Based on the Vessel, the Global Auxiliary Marine Engines market has been bifurcated into Passenger Cruise, Auto Carrier, General Cargo and Others. In 2022, the Passenger Cruise segment drove the Auxiliary Marine Engine Market by holding a substantial market share during the assessment period. This segment accounted for the largest share of the market in 2022 and is expected to remain dominant during the forecast period. The passenger cruise ships rely on marine auxiliary engines to generate electricity, power various systems and equipment, and provide propulsion. These engines are essential for the ship's operation and ensure a comfortable experience for passengers. The engine choice depends on factors such as the size of the ship, power requirements, fuel efficiency, and environmental considerations.
Diesel engines are commonly used in passenger cruise ships as they offer good fuel efficiency and reliability. They run on diesel fuel and can produce large amounts of power. Diesel engines are often used as the main propulsion source, driving the ship's propellers to generate thrust and move the vessel through the water.
In addition to diesel engines, passenger cruise ships may also utilize gas turbines. Gas turbines are known for their high power-to-weight ratio and are often employed to provide additional propulsion power or to generate electricity. These turbines can run on various fuels, including diesel, natural gas, or both.
The combination of diesel engines and gas turbines allows cruise ships flexibility in power generation and propulsion. Diesel engines can provide efficient power for cruising speeds, while gas turbines can boost power for higher speeds or in specific situations when more power is needed.
Auxiliary Marine Engine By Application Insights
Based on the Application, the Global Auxiliary Marine Engines market has been bifurcated into Commercial Boat, Fishing Boat, Security Boat and Recreation Boat. In 2022, the Recreation Boat segment drove the Auxiliary Marine Engine Market by holding a substantial market share during the assessment period. This segment accounted for the largest share of the market in 2022 and is expected to remain dominant during the forecast period. Marine auxiliary engines provide power and support systems for various onboard functions in recreational boat applications. These engines are specifically designed to serve as secondary power sources, complementing the primary propulsion system of the boat. Marine auxiliary engines are typically smaller than the main ones and primarily responsible for driving auxiliary equipment and systems. They are commonly used to power generators, water pumps, air conditioning units, refrigeration systems, lighting, and other electrical devices onboard. These engines ensure the smooth operation of these essential systems, enhancing the comfort and convenience of those on the boat. One of the key advantages of marine auxiliary engines is their ability to operate independently of the main propulsion system. This means that even if the main engine is shut down or experiencing maintenance or repair, the auxiliary engine can continue to provide power to critical onboard systems. This redundancy is crucial for safety and convenience during extended stays at sea or when the boat is anchored or moored. Marine auxiliary engines are designed to meet the specific requirements of recreational boating applications.
Auxiliary Marine Engine Regional Insights
Based on Region, the Auxiliary Marine Engine market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The South America Auxiliary Marine Engine market held the maximum market share and is also expected to account for the significant revenue share during the forecast period. South America's marine auxiliary engine market has experienced steady growth in recent years. With its extensive coastline and abundant natural resources, South America has a thriving maritime industry that relies heavily on auxiliary engines for various applications. These engines are used in many marine vessels, including cargo ships, tankers, fishing boats, and offshore support vessels. One of the key factors driving the growth of the marine auxiliary engine market in South America is the increasing demand for maritime transportation. South America is a major exporter of commodities such as oil, minerals, and agricultural products, and the efficient movement of these goods requires a reliable and efficient marine transportation system. Auxiliary engines play a vital role in powering essential systems on board these vessels, such as generators, pumps, compressors, and other auxiliary machinery. Another contributing factor to the market growth is the region's offshore oil and gas reserves. South America boasts significant offshore reserves, particularly in Brazil and Argentina.
Auxiliary Marine Engine Key Market Players & Competitive Insights
The competitive landscape of the Auxiliary Marine Engine market is influenced by several key players who offer products for various applications. Major market participants, including Caterpillar Inc., Mitsubishi Heavy Industries Ltd., Wärtsilä Corporation, MAN Energy Solutions SE, Cummins Inc., Rolls-Royce Holdings plc, Volvo Penta, and Yanmar Co., Ltd., among others. These companies have established a strong presence in the market and enjoy a significant customer base worldwide. Market players focus on research and development activities to introduce innovative and eco-friendly auxiliary engines to gain a competitive edge. The growing emphasis on sustainability and stringent environmental regulations have prompted manufacturers to invest in developing engines with reduced emissions and improved fuel efficiency. In addition to technological advancements, companies are expanding their geographical reach through strategic collaborations and partnerships. By entering into agreements with shipbuilders, naval forces, and other key stakeholders, these companies can enhance their market presence and gain access to new opportunities.
Caterpillar Inc.: Caterpillar Inc. is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three primary segments: Construction Industries, Resource Industries and Energy & Transportation. It also provides financing and related services through its Financial Products segment. Its Construction Industries is engaged in supporting customers using machinery in infrastructure, forestry and building construction. Its Resource Industries is engaged in supporting customers using machinery in mining, heavy construction, and quarry and aggregates. Its Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Caterpillar machines. Its All-Other operating segment, which includes activities, such as product management and development, manufacturing of filters and fluids, undercarriage, ground-engaging tools, and others.
Mitsubishi Heavy Industries Ltd.: Mitsubishi Heavy Industries Ltd is a Japan-based company mainly engaged in the development of energy systems, and plants & infrastructure systems. The Company operates through four segments. Energy Segment is engaged in the design, manufacturing, sales, services and installation of thermal power generation systems, nuclear power generation systems, wind power generation systems, aircraft engines. Plants & Infrastructure Segment is engaged in the design, manufacturing, sales, services and installation of steelmaking machinery, ships, engineering, environmental equipment, mechanical systems. Logistics, Thermal & Drive Segment is engaged in the design, manufacturing, sales, services and installation of distribution equipment, turbochargers, engines, refrigeration products. Aircraft, Defense & Space Segment is engaged in the design, manufacturing, sales, services and installation of civil aircraft, defense aircraft, airplanes, naval vessels, special vehicles, special machinery.
Key Companies in the Auxiliary Marine Engine Market includes.
Auxiliary Marine Engine Market Segmentation
Auxiliary Marine Engine Power Range Outlook
Auxiliary Marine Engine Fuel Outlook
Auxiliary Marine Engine Vessel Outlook
Auxiliary Marine Engine Application Outlook
Auxiliary Marine Engine Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 17983.64 million |
| Market Size 2023 | USD 18857.64 million |
| Market Size 2030 | USD 26530.52 million |
| Compound Annual Growth Rate (CAGR) | 5% (2023-2030) |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019 to 2021 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Power Range, Fuel, Vessel, Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, South America and Middle East & Africa |
| Countries Covered | US, Canada, Germany, UK, France, Spain, Italy, Russia, China, Japan, India, South Korea, Brazil, Mexico, Argentina, South Africa, GCC countries |
| Key Companies Profiled | Caterpillar Inc., Mitsubishi Heavy Industries Ltd., Wärtsilä Corporation, MAN Energy Solutions SE, Cummins Inc., Rolls-Royce Holdings plc, Volvo Penta, and Yanmar Co., Ltd. |
| Key Market Opportunities | Rise Of E-Commerce and Online Trade |
| Key Market Dynamics | Increasing Demand for Marine Transportation |
Marine Auxiliary Engine Market Highlights:
Frequently Asked Questions (FAQ) :
US$ 17983.64 Mn
5%
South America
Caterpillar Inc., Mitsubishi Heavy Industries Ltd., Wärtsilä Corporation, MAN Energy Solutions SE, Cummins Inc., Rolls-Royce Holdings plc, Volvo Penta, and Yanmar Co., Ltd.
350 to 650 HP
Gas
Passenger Cruise
Recreation Boat
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Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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