Marine fuel injection system market Estimated to Exhibit 3.6% CAGR through 2029
Future Market Insights has recently published a new market research study on the marine fuel injection system market that contains global industry analysis during 2014–2018 and opportunity assessment during 2019–2029.The report investigates the marine fuel injection system market and provides critical insights for the forecast period of 2019-2029. As per the key findings of the report, the global marine fuel injection system market is expected to witness considerable growth in upcoming years due to the steady expansion of vessel fleet as well as regulations imposed by International Maritime Organization towards improving the efficiency of new ships.
Furthermore, strict
government regulations for maritime emissions are anticipated to drive demand
for the marine fuel injection system. The global business is anticipated to
witness a considerable CAGR of 3.6% by value during the period
of 2022 and 2029.
Increase in Global Maritime Tourism to Fuel the Market Growth
With the increasing
disposable income, there has been noteworthy growth in the tourism in the
recent past. Recreational water sports attract a paramount segment of people
and growing traction of people towards it has been significant. Activities,
such as yachting, kite surfing, and water skiing is expected to upsurge the
marine tourism. The demand for new ships has increased owing to the growth in
maritime tourism, which will ultimately boost the marine fuel injection system
market in the near future.
Increasing fuel
injection pressure in marine vessels lead to the increased rate of wear and
tear property. To improve the combustion efficiency of an engine, high
injection pressure is required. There has been increased demand for high
pressure fuel injectors. However, increased fuel injection pressure has
amplified the stress applied on the fuel injector as well as on the other parts
of the fuel injection system, including a fuel pump and high pressure lines.
This might lead to the increased rate of replacement and reconditioning of fuel
injection system in marine vessels, contributing to the growth of the
aftermarket sales channel.
Growth in Regional Shipbuilding Industries
China, in the APEJ
region and Japan has maintained slow but steady pace in the ship building
industry in terms of growth. Whereas, in South Korea, the industry faced sharp
downturn due to overcapacity and weak financial performance of prominent
players in the marine fuel injection systemmarket. This, in turn, significantly
affected the OEM demand for marine fuel injection systems. However, there has
been a notable increase in the demand for new ships creating a healthy
environment for the shipbuilding industry in the region to recover.
Marine Fuel Injection System Market: Taxonomy
Sales Channel
·
OEM
·
Aftermarket
Engine Capacity
·
Up to 2000 HP
·
2000 – 10,000 HP
·
10,000 – 20,000 HP
·
20,000 – 50,000 HP
·
50,000 – 80,000 HP
·
Above 80,000 HP
Application
·
Service Vessels
·
Passenger Vessels
·
Cargo Carriers
·
Fishing Vessels
·
Personal Watercrafts & Sailboats
·
Others
Engine Type
·
2 Stroke
·
4 Stroke
Region
·
North America
·
Latin America
·
Western Europe
·
Eastern Europe
·
APEJ
·
MEA
·
Japan
Marine Fuel Injection System Market: Vendor Insights
The report
highlights some of the prominent market players, who have established
themselves as leaders in the global marine fuel injection system market. Few
examples of key players in the marine fuel injection system market areCummins
Inc., Liebherr International AG, Robert Bosch GmbH, Caterpillar Inc., Yanmar
Co. Ltd., Suzuki Motor Corporation, v, MAN SE, DENSO Corporation, Rolls-Royce
Power Systems AG, OMT – Officine Meccaniche Torino SpA, Woodward, Inc., and
Heinzmann GmbH & Co. KG, among others.The global marine fuel injection
system market is considered to be significantly fragmented one. Global players
falling under tier-1 category accounts for ~25% of the overall market share,
whereas medium-sized and small-sized players are expected to be prominent in
the global marine fuel injection system market.
For more information:
https://www.futuremarketinsights.com/reports/marine-fuel-injection-system-market
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