India Marine Engines Market (2020-2026) | Size, Segmentation, Share, Analysis, Value, Trends, Industry, Growth, Revenue, Outlook & COVID-19 IMPACT

India Marine Engines Market | Country-Wise Share and Competition Analysis

In the year 2021, China was the largest exporter in terms of value, followed by Germany. It has registered a growth of 36.67% over the previous year. While Germany registered a decline of -59.23% as compared to the previous year. In the year 2017, China was the largest exporter followed by Germany. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, India has a Herfindahl index of 3125 in 2017 which signifies high concentration also in 2021 it registered a Herfindahl index of  3354 which signifies high concentration in the market.

India Marine Engines Market - Export Market Opportunities

Topics Covered in the India Marine Engines Market

India Marine Engines Market report thoroughly covers the market by power range, by vessel, by fuel, by engine, and by type. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Latest (2023) Development of the India Marine Engines Market

India Marine Engines Market has seen significant growth in recent years, and this trend is expected to continue in the future years. The development of the marine industry in India is a key driver for this growth, as an increasing number of vessels are being used for domestic and international shipping. One of the major developments in the India Marine Engines Industry includes the adoption of cleaner technologies such as LNG-powered engines. Another notable trend is the focus on innovation and efficiency and in response to this, manufacturers are working to develop new designs that optimize fuel consumption while maintaining high levels of performance. Additionally, there has been significant investment in research & development by major players operating within the India Marine Engines Market. Concludingly, these developments indicate a positive outlook for the future of marine engines market in India as they will provide greater sustainability while enhancing operational efficiencies across various sectors.

India Marine Engines Market Synopsis

India Marine Engines Market is experiencing significant growth due to the growing demand for improved marine transportation services. In general, marine engines are major components of any vessel, and their efficiency directly affects the overall performance of the ship. The government of India has been playing a crucial role in developing the country's ports infrastructure as part of its larger plan to boost economic growth. Consequently, India's ports have become more efficient and capable of handling larger volumes of cargo traffic. This increased capacity has led to an increase in demand for marine engines that can support these large vessels.

According to 6Wresearch, the India Marine Engines Market is projected to grow massively during the forecast period 2020-2026. The adoption of advanced technologies such as fuel-efficient engines and hybrid propulsion systems is expected to bolster demand for marine engines in India. Furthermore, an increase in exports of goods through sea routes are anticipated to drive India Marine Engines Market Growth. Nevertheless, stringent emission regulations and rising fuel prices pose a challenge for shipowners, coupled with a shortage of skilled labor are expected to be the major barriers for manufacturers. However, domestic manufacturing initiatives like Make in India provide new business prospects for manufacturers and the growing trend towards eco-friendly shipping practices provides a boost to companies offering sustainable marine engines.

COVID-19 Impact on the India Marine Engines Market

The COVID-19 outburst has had a considerable impact on the India marine engine market which is a crucial part of the Asia Pacific (APAC) Marine Engines Market. Lockdowns and supply chain disruption resulted in a challenging business environment, however, demand for marine engines is gradually recovering. Due to the pandemic, businesses have had to rely on digital solutions and remote monitoring technologies to ensure continuity while maintaining safety precautions. With an increased focus on eco-friendly energy sources, electric and hybrid powertrains are expected to gain more prevalence post-pandemic.

Key Players in the India Marine Engines Market

The India Marine Engines Market is highly competitive with various key players striving to dominate the India Marine Engines Market Share during the forecast period. For instance;

• Cummins Inc
• Caterpillar Inc
• Wartsila Corporation
• Mitsubishi Heavy Industries Ltd.
• Yanmar Co. Ltd.
• Brunswick Corporation (Mercury Marine)
• MAN Energy Solutions SE
• Volvo Penta AB
• John Deere Company

Market Analysis by Fuel

According to Shivankar, Research Manager, 6Wresearch, the demand for marine engines powered by Marine Gas Oil and Marine Diesel Oil is likely to grow owing to their compliance with emission regulations.

Market Analysis by Engine

In terms of engine segment, both propulsion engines and auxiliary engines are projected to grow enormously as they have their own growth prospects based on the needs of the vessel.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019.
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Reports: 

• India Marine Engines Market Outlook
• Market Size of India Marine Engines Market, 2019
• Forecast of India Marine Engines Market, 2026
• Historical Data and Forecast of India Marine Engines Revenues & Volume for the Period 2016 - 2026
• India Marine Engines Market Trend Evolution
• India Marine Engines Market Drivers and Challenges
• India Marine Engines Price Trends
• India Marine Engines Porter's Five Forces
• India Marine Engines Industry Life Cycle
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Power Range for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Up to 1,000 hp for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By 1,001 ? 5,000 hp for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By 5,001 ? 10,000 hp for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By 10,001 ? 20,000 hp for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Above 20,000 hp for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Vessel for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Commercial for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Offshore support for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Others for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Fuel for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Heavy Fuel Oil for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Intermediate Fuel Oil for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Marine Diesel Oil for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Marine Gas Oil for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Others for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Engine for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Propulsion for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Auxiliary for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Type for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Two-stroke for the Period 2016 - 2026
• Historical Data and Forecast of India Marine Engines Market Revenues & Volume By Four-stroke for the Period 2016 - 2026
• India Marine Engines Import Export Trade Statistics
• Market Opportunity Assessment By Power Range
• Market Opportunity Assessment By Vessel
• Market Opportunity Assessment By Fuel
• Market Opportunity Assessment By Engine
• Market Opportunity Assessment By Type
• India Marine Engines Top Companies Market Share
• India Marine Engines Competitive Benchmarking By Technical and Operational Parameters
• India Marine Engines Company Profiles
• India Marine Engines Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Power Range

• Up To 1,000 Hp
• 1,001 – 5,000 Hp
• 5,001 – 10,000 Hp
• 10,001 – 20,000 Hp
• Above 20,000 Hp

By Vessel

• Commercial
• Offshore Support
• Others

By Fuel

• Heavy Fuel Oil
• Intermediate Fuel Oil
• Marine Diesel Oil
• Marine Gas Oil
• Others

By Engine

• Propulsion
• Auxiliary

By Type

• Two-Stroke
• Four-Stroke

India Marine Engines Market: FAQs