Sales Of Marine Gensets Are Forecasted To Increase At A CAGR Of 4.5% By 2033

Published March 24, 2023

Due to increased disposable income and rising standards of living among end users, the demand for recreational marine gensets used in leisure boats such as cruise ships, ferries, and yachts is predicted to increase during the next ten years. Demand for ship generators is anticipated to rise as consumers spend more on leisure activities, comfort, and luxury as well as on cruise tips.

Over the following ten years, there is predicted to be a 4% CAGR in the demand for marine gensets for use in defence vessels. The market for modern marine generators is being driven by the global defence industry’s rapid developments.

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In 2023, the market for maritime gensets will be worth US$5.3 billion. By the end of 2033, the market for marine generator sets is projected to be worth US$ 8.2 billion, growing at a CAGR of 4.5%.
Marine gensets give various ship systems power. Marine generator sets are frequently used on commercial, military, and offshore support vessels.

Market Players:

  • ABB Ltd.
  • Caterpillar, Inc.
  • Cummins, Inc.
  • Deere & Company
  • Generac Power Systems, Inc.
  • Daihatsu Diesel Mfg. Co., Ltd.
  • Fischer Panda GmbH
  • Gamesa Electric
  • GE`s Power Conversion
  • EthosEnergy
  • Genesal Energy
  • Anglo Belgian Corp. NV
  • Guangdong Honny Power-Tech Co., Ltd.
  • COELMO spa

What are impelling reasons for buying this report?

  • Global Marine Gensets Market prognosis for the present and the future in both developed and developing markets
  • Both the Marine Gensets market segment with the largest projected share and the market segment with the highest CAGR throughout the projection period
  • Countries and regions anticipated to experience the fastest development throughout the projected period
  • The most recent innovations, market shares, and tactics used by the leading market players
  • The report contains all of the segmentation seen above across all of the nations indicated.

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Key Segments of Marine Gensets Industry Research

  • By Vessel Type :
    • Commercial Vessels
    • Defense Vessels
    • Offshore Support Vessels
  • By Propulsion :
    • Gas Power
    • Diesel Power
    • Hybrid Generation Power
  • By Power Rating :
    • Below 1MW
    • 1 to 5MW
    • 5 to 10MW
    • Above 10MW
  • By Application :
    • Electricity Supply
    • Diesel Generators
  • By End User :
    • Commercial
    • Marine
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

The study further identifies major manufacturing trends, technologies that will be commercialized

  • Key manufacturing trends in end-use industries;
  • New technologies used in a variety of application areas; Major economic shocks, such as the recent COVID-19 pandemic
  • Country markets that will emerge as hotbeds of opportunity;
  • Regulatory frameworks that will shape the strategies of key players in key regions in the Marine Gensets Chemicals market
  • Key technological trends and the likely rate of commercialization of novel technologies in key industries and allied industries

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