The global marine gensets market is expected to grow at a significant CAGR during the forecast period 2024-2031. The marine gensets are portable or mobile devices that are applicable to generate energy and which further get converted to electrical energy by the device itself to provide supplementary power for the marine engines. The marine gensets requires diesel, gasoline and hybrid fuel to perform the activity and generate electrical energy to serve fuel-efficient service among marine vessels. These gensets are highly efficient in fuel consumption and noise emission as they can reduce the consumption of fuel by 15% and works with low noise emission.
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The surge in demand for shipbuilding and growing manufacturing of vessels including commercial, defence, offshore support vessels type among others raise the demand for marine gensets. This as result contributed as the major market driving factors for the growth of the global marine gensets market during the forecast period. Additionally, the rising seaborne trades among international sectors fuel the need for shipbuilding and hence, impact the demand for marine gensets to get implemented in manufacturing. These growing trends for gensets in the marine region explore the growth and introduce lucrative growth opportunities for the global marine gensets market.
Furthermore, the gradually rising maritime tourism with rising living standards and increasing demand for efficient power generation supplied by the Gensets are impacting the market growth of the Global Marine Gensets Market. Whereas, the technological advancement in the marine gensets field to improve the production capacity and reinforcement to overcome restraints and the ongoing investment by the government are some markets driving factors that can supplement the growth of the Global Marine Gensets Market during the forecast period.
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Market Coverage
- Segment Covered-
o By Fuel
o By Power Rating
o By Application
- Competitive Landscape- Caterpillar, ABB Ltd, Cummins, MAN Energy Solutions, Kongsberg.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Marine Gensets Market by Segment
By Fuel:
o Diesel Fuel
o Gas Fuel
o Hybrid Fuel
o Others
By Power Rating
o Up to 1,000 kW
o 1,001 HP to 3,000 kW
o 3,001 HP to 10,000 kW
o Above 10,001 kW
By Application
o Commercial Vessels
o Offshore Support Vessels
o Defence Vessels
o Others
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