The American Boating Congress produced by the National Marine Manufacturers Association (NMMA), has led Visiongain to publish this timely report. Forecasts by Power Source (Diesel, Gas Turbine, Natural Gas and Others), by Ship Type (Cargo or Container Ship, Tanker Marine, Bulk Carrier, Offshore Vessel, Passenger Ship and Others) Plus Financial Analysis on Leading Companies and Regional and Leading National Market Forecasts and Analysis

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Marine Propulsion Engine Market Report
2019-2029
Forecasts by Power Source (Diesel, Gas Turbine, Natural Gas and Others), by Ship Type
(Cargo or Container Ship, Tanker Marine, Bulk Carrier, Offshore Vessel, Passenger Ship and
Others) Plus Financial Analysis on Leading Companies and Regional and Leading National
Market Forecasts and Analysis

2. www.visiongain.com/energy/ Page 47
Marine Propulsion Engine Market Report
2019-2029
Forecasts by Power Source (Diesel, Gas Turbine, Natural Gas and Others); By Ship Type (Cargo
or Container Ship, Tanker Marine, Bulk Carrier, Offshore Vessel, Passenger Ship and Others)
Plus Financial Analysis on Leading Companies and Regional and Leading National Market
Forecasts and Analysis
5.6 Others Marine Propulsion Engine Market Forecast 2019-
2029
Other types of engines include steam turbine, renewable energy, hybrid and fuel cell. A steam turbine
consists of a rotor resting on bearings and enclosed in a cylindrical casing. The rotor is turned by steam
impinging against attached vanes or blades on which it exerts a force in the tangential direction. Thus,
a steam turbine could be viewed as a complex series of windmill-like arrangements, all assembled on
the same shaft. Fuel cells offer attractive solutions in energy converters. Some fuel cells have been
used in large scale vehicles, such as ships and others are expected to penetrate a variety of markets.
Such fuel cells also benefit small-size, low-power demands, such as wireless MEMS (micro-
electromechanical systems), including remote sensors, wearable electronics, and environmental
monitoring. The market for other types of engines is anticipated to reach US$1,636.1 Mn in 2029 from
US$1,171.9 Mn in 2019 growing at a CAGR of 3.4% during the forecast period.
Table 5-5 Other Marine Propulsion Engines Market Forecast 2019-2029 (USD
Billion, AGR %, CAGR %, Cumulative)
Others 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2019-29
Total
($BN)
1.12 1.17 1.22 1.27 1.32 1.34 1.39 1.45 1.50 1.56 1.62 1.64 15.47
AGR (%) 4.3 4.1 3.9 3.8 1.5 4.2 4.1 3.9 3.7 3.6 1.2
CAGR
2019-24
(%)
3.5
2024-
29
3.3
CAGR
2019-29
(%)
3.4
Source: Visiongain 2019
Figure 5-8 Others Marine Propulsion Engine Market Forecast by Region 2019-
2029 ($Mn)
Source: Visiongain 2019
0.0
200.0
400.0
600.0
800.0
1,000.0
1,200.0
1,400.0
1,600.0
1,800.0
2019 2020 2021 2022 2023 2025 2026 2027 2028 2029
MarketSize($Mn)
North America Europe Asia-Oceania ROW

3. www.visiongain.com/energy/ Page 86
Marine Propulsion Engine Market Report
2019-2029
Forecasts by Power Source (Diesel, Gas Turbine, Natural Gas and Others); By Ship Type (Cargo
or Container Ship, Tanker Marine, Bulk Carrier, Offshore Vessel, Passenger Ship and Others)
Plus Financial Analysis on Leading Companies and Regional and Leading National Market
Forecasts and Analysis
7.6.5 Other Countries Marine Propulsion Engine Market Forecast 2019-
2029
Marine propulsion engine market for other countries such as South Africa, Saudi Arabia, Kuwait, and
Chile Venezuela among others stood over US$265.0 million in 2019 and is expected to reach US$343.7
million by 2029. The countries mentioned above exhibit huge investments in their respective maritime
industry that resulted in the growth of its fleet size and increased in sea-borne trade in these nations.
All these above- mentioned factors have led towards the growth in the marine propulsion engine market.
Figure 7-41 Other Countries Marine Propulsion Engine Market Forecast 2019-2029
(US$ Mn, AGR %)
Source: Visiongain 2019
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
0.0
50.0
100.0
150.0
200.0
250.0
300.0
350.0
400.0
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
AGR(%)
MarketSize($Mn)
Other Countries AGR (%)

4. www.visiongain.com/energy/ Page 87
Marine Propulsion Engine Market Report
2019-2029
Forecasts by Power Source (Diesel, Gas Turbine, Natural Gas and Others); By Ship Type (Cargo
or Container Ship, Tanker Marine, Bulk Carrier, Offshore Vessel, Passenger Ship and Others)
Plus Financial Analysis on Leading Companies and Regional and Leading National Market
Forecasts and Analysis
8. Leading Companies in the Marine Propulsion
Engine Market
The Marine Propulsion Engine Market comprises of raw materials and component providers, product
manufacturers, distributors, and end users. The leading players operating in the Marine propulsion
engine market include Caterpillar, Cummins Inc., Daihatsu Diesel Mfg. Co. Ltd., Hyundai Heavy
Industries Co., Man Se (Man Diesel & Turbo), Mitsubishi Heavy Industries, Ltd., Rolls Royce Plc.,
Scania, Wärtsilä, Yanmar, Volvo Penta, Doosan, Weichai Power, China Yuchai International, Shanghai
Diesel Engine Co.
8.1 Caterpillar
Caterpillar Inc. was founded in 1925 and is headquartered in Deerfield, Illinois. The company
manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial
gas turbines, and diesel-electric locomotives for construction, resource, energy and transportation
industries. Its construction industries segment offers asphalt pavers, backhoe loaders, compactors, cold
planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters,
knuckleboom loaders, motor graders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer
loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors. The company’s
resource industries segment provides electric rope and hydraulic shovels, draglines, track and rotary
drills, hard rock vehicles, large track-type vehicles, large mining trucks, longwall miners, large wheel
loaders, off-highway trucks, articulated trucks, wheel tractor scrapers, wheel dozers, landfill
compactors, soil compactors, machinery components, electronics and control systems, select work
tools, and hard rock continuous mining systems. Its energy & transportation segment offers
reciprocating engine powered generator sets; reciprocating engines; integrated systems used in the
electric power generation industry; turbines, centrifugal gas compressors, and related services;
integrated systems and solutions for the marine and oil and gas industries; remanufactured
reciprocating engines and components; and diesel-electric locomotives and components, and other rail-
related products and services. It’s all other operating segments manufactures filters and fluids,
undercarriage, tires, rims, ground engaging tools, fluid transfer products, precision seals, and rubber
sealing and connecting components; parts distribution; and digital investments services. The company
was formerly known as Caterpillar Tractor Co. and changed its name to Caterpillar Inc. in 1986.