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Auxiliary Engine Market Size, Share and Global Trend By Application (Commercial, Recreational, Others), By Fuel Type (Diesel, Gas, Others), and Geography Forecast till 2026

Region : Global | Report ID: FBI100641 | Status : Ongoing

 

KEY INDUSTRY INSIGHTS

Auxiliary engines convert thermal energy into a mechanical force that helps maintain synchronization of mechanical components of the main engine. These engines are commonly used to move a ship by consuming a low amount of fuel. The advanced features of auxiliary engines such as the electronic control system and common rail fuel system has resulted in increased demand for products in the maritime industry. Major applications served by auxiliary engines are marine gensets, emergency gensets and harbour gensets. The development of auxiliary engines depends on the usage of the ship and the total amount of power required for its movement.


Manufacturers throughout the globe are trying to adopt new methods to participate in the green shipping era. For instance, Yanmar Co. Ltd., a Japanese manufacturer of commercial auxiliary engine, has designed new types of injectors using eco-friendly technology, that consumes less fuel and generates comparatively more power. Adoption of LNG fuel over the conventional marine fuel is gradually becoming a trend by contributing to the eco-friendly technology that provides a potential market for auxiliary marine engines manufacturers, thus increasing the growth of auxiliary engine market. Eco-friendly technology has resulted in elimination of ballast system. However, the introduction of exhaust gas scrubber system, advanced rudder and propeller system, waste heat recovery system, improved pump and cooling water system, sandwich plate system is expected to result in the growth of auxiliary engines industry.

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One of the major factor driving the market’s growth is the increase in commercial shipping. For instance, according to the United Nations Conference on trade and development (UNCTAD) global commercial shipping in 2017 increased by more than 3.9 % and 4 % in 2018. Similarly, according to the Indian Ministry of Shipping, approximately 95% of India’s trading (by volume) and 70%(by value) is done through maritime transport. The increase in the trade carried out through the marine transportation system, is expected to result in the growth of auxiliary engine market over the forecast period. Furthermore, the integration of smart controls and fuel-efficient system in the commercial ships is expected to increases the global trade market volume. However, the change in policies among various nation is expected to affect market growth. For instance, the withdrawal of United Kingdom from the BREXIT lead to the downsizing of the trading market through commercial shipping, thus impacting the demand of auxiliary engines.


Key Players Covered


Some of the major players in the auxiliary engine market include Caterpillar, Cummins, Deere & Company, Wärtsilä, YANMAR Co. Ltd., Hyundai Heavy Industries, Man SE, Mitsubishi Heavy Industries, Volvo Penta, Deutz AG, MTU, GE Transportation, Daihatsu, SCANIA, Megatech Power, Kubota, Perkins and others.


SEGMENTATION






















SEGMENTATION



 DETAILS



By Application



·         Commercial


·         Recreational


·         Others



By Fuel Type



·         Diesel


·         Gas


·         Others



By Geography



·         North America (USA, Canada and Rest of North America)


·         Europe (UK, Germany, France, Scandinavia, Italy, Spain and Rest of Europe)


·         Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)


·         Latin America (Brazil, Argentina, Mexico and Rest of Latin America)


·         Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)



 


Regional Analysis


Asia Pacific is expected to observe lucrative growth in the forecast period. Countries such as China, India, South Korea and Japan have the presence of leading marine engine manufacturers.  Furthermore, government policies are expected to drive the marine engine market in the near future. Furthermore, In North America, the US and Canadian government plans to invest in building commercial and off-shore vessels which would lead to positive growth of the maritime industry, as they are shifting to engines with less emission. For instance, General Electric, a US-based marine engine manufacturer, plans to optimize the performance of these engines by enduring the emission-reduction technology. Moreover, increasing European investments in the maritime industry is expected to result in the growth of auxiliary engines. For instance, the Dutch Bank ING and the European Investment Bank have invested € 300 million in the shipping industry to help steer green shipping.


Key Industry Development



  • 16th May 2019: MTU, a subsidiary of Rolls-Royce introduced its power system engines for ships in National Maritime Conference held by German Government, thus becoming largest supplier to the German maritime industry.
  • 6th April 2019: Volvo Penta presented its new D8 MH and MG heavy duty marine engines in Norshipping show in Oslo, that has significantly lower noise and vibration levels and is lighter in weight.

Auxiliary Engine Market  Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2019
  • 2016-2018

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