Product Code: ETC4529725 | Publication Date: Jul 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
The India marine gensets market import shipments experienced a significant decline with a CAGR of -15.0% from 2020 to 2024. The growth rate between 2023 and 2024 plummeted by -68.3%, indicating a rapid contraction in market activity. The market contracted notably, showing a strong downward momentum throughout the period.
Marine gensets are critical for power generation on ships and vessels. The market in India is influenced by the shipping industry`s performance and growth, as well as the increasing demand for energy-efficient and environmentally friendly marine power solutions.
The marine gensets market in India is being driven by the country`s expanding maritime industry, including shipping, fishing, and offshore activities. Gensets are crucial for providing power on vessels, and as these industries grow, the demand for reliable power generation solutions at sea is increasing. Government initiatives to boost the maritime sector also contribute to the market`s growth.
The marine gensets market in India encounters challenges related to environmental regulations and the need to meet stringent emission standards. Additionally, fluctuating fuel prices and the increasing demand for more sustainable power generation solutions present hurdles. The industry must also address issues related to corrosion and saltwater resistance, as marine environments are harsh and demanding.
The India marine gensets market was affected by the reduction in maritime activities and restrictions on travel during the pandemic. However, as the maritime industry recovers, the demand for reliable power generation solutions for ships and vessels is expected to increase.
Key players in the Marine Gensets market in India encompass Cummins Inc., Caterpillar Inc., Mitsubishi Heavy Industries, and Volvo Penta.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Marine Gensets Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Marine Gensets Market Revenues & Volume, 2021 & 2031F |
3.3 India Marine Gensets Market - Industry Life Cycle |
3.4 India Marine Gensets Market - Porter's Five Forces |
3.5 India Marine Gensets Market Revenues & Volume Share, By Vessel Type, 2021 & 2031F |
3.6 India Marine Gensets Market Revenues & Volume Share, By Propulsion Type, 2021 & 2031F |
3.7 India Marine Gensets Market Revenues & Volume Share, By Power Rating, 2021 & 2031F |
3.8 India Marine Gensets Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.9 India Marine Gensets Market Revenues & Volume Share, By End User, 2021 & 2031F |
4 India Marine Gensets Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for energy-efficient and environmentally friendly marine gensets |
4.2.2 Growth in the shipping industry in India |
4.2.3 Government initiatives promoting the use of clean energy sources in marine applications |
4.3 Market Restraints |
4.3.1 High initial investment costs associated with marine gensets |
4.3.2 Fluctuating fuel prices impacting the operating costs of marine gensets |
4.3.3 Lack of infrastructure and technical expertise for installation and maintenance of marine gensets |
5 India Marine Gensets Market Trends |
6 India Marine Gensets Market, By Types |
6.1 India Marine Gensets Market, By Vessel Type |
6.1.1 Overview and Analysis |
6.1.2 India Marine Gensets Market Revenues & Volume, By Vessel Type, 2021-2031F |
6.1.3 India Marine Gensets Market Revenues & Volume, By Marine Vessel, 2021-2031F |
6.1.4 India Marine Gensets Market Revenues & Volume, By Commercial Vessel, 2021-2031F |
6.1.5 India Marine Gensets Market Revenues & Volume, By Off-shore Vessel, 2021-2031F |
6.1.6 India Marine Gensets Market Revenues & Volume, By Others, 2021-2031F |
6.2 India Marine Gensets Market, By Propulsion Type |
6.2.1 Overview and Analysis |
6.2.2 India Marine Gensets Market Revenues & Volume, By Gas Power, 2021-2031F |
6.2.3 India Marine Gensets Market Revenues & Volume, By Diesel Power, 2021-2031F |
6.2.4 India Marine Gensets Market Revenues & Volume, By Hybrid Generation Power, 2021-2031F |
6.2.5 India Marine Gensets Market Revenues & Volume, By Others, 2021-2031F |
6.3 India Marine Gensets Market, By Power Rating |
6.3.1 Overview and Analysis |
6.3.2 India Marine Gensets Market Revenues & Volume, By Below 1MW, 2021-2031F |
6.3.3 India Marine Gensets Market Revenues & Volume, By 1-5MW, 2021-2031F |
6.3.4 India Marine Gensets Market Revenues & Volume, By 5-10MW, 2021-2031F |
6.3.5 India Marine Gensets Market Revenues & Volume, By Above 10MW, 2021-2031F |
6.4 India Marine Gensets Market, By Application |
6.4.1 Overview and Analysis |
6.4.2 India Marine Gensets Market Revenues & Volume, By Electricity Supply, 2021-2031F |
6.4.3 India Marine Gensets Market Revenues & Volume, By Diesel Generator, 2021-2031F |
6.4.4 India Marine Gensets Market Revenues & Volume, By Others, 2021-2031F |
6.5 India Marine Gensets Market, By End User |
6.5.1 Overview and Analysis |
6.5.2 India Marine Gensets Market Revenues & Volume, By Commercial Sector, 2021-2031F |
6.5.3 India Marine Gensets Market Revenues & Volume, By Marine Sector, 2021-2031F |
6.5.4 India Marine Gensets Market Revenues & Volume, By Others, 2021-2031F |
7 India Marine Gensets Market Import-Export Trade Statistics |
7.1 India Marine Gensets Market Export to Major Countries |
7.2 India Marine Gensets Market Imports from Major Countries |
8 India Marine Gensets Market Key Performance Indicators |
8.1 Adoption rate of energy-efficient marine gensets in the Indian market |
8.2 Number of new ship orders using marine gensets |
8.3 Percentage of government subsidies or incentives for clean energy marine gensets |
8.4 Growth in the number of skilled technicians for marine genset installation and maintenance |
8.5 Environmental impact assessment reports for marine genset usage in India |
9 India Marine Gensets Market - Opportunity Assessment |
9.1 India Marine Gensets Market Opportunity Assessment, By Vessel Type, 2021 & 2031F |
9.2 India Marine Gensets Market Opportunity Assessment, By Propulsion Type, 2021 & 2031F |
9.3 India Marine Gensets Market Opportunity Assessment, By Power Rating, 2021 & 2031F |
9.4 India Marine Gensets Market Opportunity Assessment, By Application, 2021 & 2031F |
9.5 India Marine Gensets Market Opportunity Assessment, By End User, 2021 & 2031F |
10 India Marine Gensets Market - Competitive Landscape |
10.1 India Marine Gensets Market Revenue Share, By Companies, 2024 |
10.2 India Marine Gensets Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |