MARKET INTRODUCTION
An onboard marine genset is an alternate power source or a generator on a ship providing electric power to various electric components on a ship and also maintains fuel efficiency for diesel-electric propulsion. Marine gensets do not require an in built cooling system and take up less space as compared to traditional gensets.
MARKET SCOPE
The "Global Onboard Marine Gensets Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a particular focus on global market trend analysis. The report aims to provide an overview of the Onboard Marine Gensets Market with detailed market segmentation into by fuel type, by ship type, by power and by region. The Onboard Marine Gensets Market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Onboard Marine Gensets Market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The Onboard Marine Gensets Market has been segmented into by fuel type, by ship type, and by power. By fuel type the market has been bifurcated into diesel fuel, gas fuel, hybrid fuel and others. By ship type the market has been bifurcated into commercial vessels, defense vessels, offshore vessels, and others. By power the market has been bifurcated into less than 1000kW, 1001-3000 kW, 3001-10000 kW, and more than 10000 kW.
MARKET DYNAMICS
Growth Factors
- Rising demand for efficient gensets on ships
- Increase in the demand for offshore vessels
- Increase in the rise of sea born trade
Restraints
- High installation costs
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2018 to 2028 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The Onboard Marine Gensets Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the Onboard Marine Gensets Market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the Onboard Marine Gensets Market in these regions.
COVID-19 Impact on Onboard Marine Genset Market
The outbreak of Covid-19 pandemic has had a negative market on the onboard marine gensets market as the pandemic had disrupted the trading happening via the sea route. The Covid-19 pandemic has negatively affected the shipbuilding activities as well. As the restrictions are beginning to ease the market is expected to recover in the coming years. Increasing seaborne trade and rise in the manufacturing of commercial ships is expected to support the onboard marine gensets market in the coming years.
MARKET PLAYERS
The report covers vital developments in the Onboard Marine Gensets Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the Onboard Marine Gensets Market are anticipated to have lucrative growth opportunities in the future with the rising demand for Onboard Marine Gensets Market. Below mentioned is the list of a few companies engaged in the Onboard Marine Gensets Market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Onboard Marine Gensets Market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.
- ABB
- Caterpillar
- Cummins
- Mase Generators
- Maxon
- Mitsubishi Heavy Industries
- Rolls-Royce Power Systems AG
- Sole Diesel
- Toshiba
- Wartsila