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

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

Thailand Marine Engines Market - Export Market Opportunities

Topics Covered in the Thailand Marine Engines Market

The Thailand 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 Thailand Marine Engines Market

Thailand Marine Engines Market has witnessed substantial growth in recent years and is likely to grow in the years to come. This trend is mainly associated with the country's flourishing tourism and fishing industries. Consequently, manufacturers are striving to create more eco-friendly engines that emit lower levels of pollutants while still offering optimal performance. In addition, digitalization and automation in marine engines are being prioritized as these technologies assist operators in remotely monitoring engine performance and minimizing downtime costs. Simultaneously, hybrid marine engines, which combine traditional combustion with electric power systems, have become increasingly popular due to governments supporting cleaner energy alternatives.

Thailand Marine Engines Market Synopsis

Thailand Marine Engines Market is a rapidly expanding sector, with tremendous growth registered over recent years. The country has a reliable shipping infrastructure and strategic location in Southeast Asia making it a major spot for trade operations. The emergence of environmentally friendly LNG-powered engines has been increasing significantly. The market additionally gains from highly developed technology infrastructure and a skilled workforce while receiving support from government initiatives focusing on R&D to drive Thailand Marine Engines Market Growth. All these factors lead to exceptional opportunities for investors looking to diversify their portfolios.

According to 6Wresearch, the Thailand Marine Engines Market is projected to grow massively during the forecast period 2020-26. The growth is attributed to powerful stimulants such as the increasing demand for recreational boats, the proliferation of international trade, and the rising uptake of eco-friendly marine engines. However, stringent regulations on emissions and fuel efficiency standards pose a challenge that manufacturers are looking to tackle using technological advancements and creative designs to create efficient yet sustainable solutions. It is also anticipated that favorable situations such as government strategies to grow tourism and exports from ports will contribute to the ongoing growth of Thailand Marine Engines Industry. Furthermore, investments in infrastructure projects present more encouraging prospects for this market.

COVID-19 Impact on the Thailand Marine Engines Market

The pandemic has profoundly impacted the Thailand Marine Engines Market Size, with travel restrictions, decreased trade activities, and plummeting global oil prices creating a collapse in demand. The pandemic has also disrupted the supply chains that interfered with production schedules. However, there have been some positive signs of recovery in this market. There is an ongoing need for small vessels used for fishing and transportation within domestic waters, and increasing consumer optimism driven by global vaccination programs.

Key Players in the Thailand Marine Engines Market

The Thailand Marine Engines Market is highly competitive, with various key players competing to gain a larger market share. Some of the significant players in the market include;

• Volvo Penta
• Caterpillar Inc.
• Cummins Inc.
• Mitsubishi Heavy Industries Ltd.
• MTU Friedrichshafen GmbH (Rolls Royce Power Systems AG)
• Brunswick Corporation (Mercury Marine)
• Doosan Infracore Co. Ltd.
• MAN Energy Solutions SE (MAN Diesel & Turbo SE)
• Hyundai Heavy Industries Co. Ltd.
  

Market Analysis by Vessel

According to Ravi Bhandari, Research Head, 6Wresearch, the offshore support segment is projected to lead the Thailand Marine Engines Market Share due to the expansion of offshore oil and gas exploration activities.

Market Analysis by Engine

Based on the Engine, the Propulsion segment is likely to grow during the forecast period as vessel operators focus on improving fuel efficiency and performance.

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: 

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

Thailand Marine Engines Market: FAQs