Marine Propulsion Engine Market
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Marine Propulsion Engine Market Size and Growth
The global Marine Propulsion Engine market is estimated to reach a value of $12.3 billion by 2025, with a CAGR of 3.6% during the forecast period. Growth is driven by increasing demand for energy-efficient propulsion systems and a rise in maritime trade activities. Key players include Caterpillar Inc., Rolls-Royce Holdings plc, and Wärtsilä.
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Companies Covered
(Covid 19 Impact Covered)
◍ Caterpillar
◍ Cummins
◍ Rolls-Royce
◍ Wartsila
◍ MAN Diesel & Turbo
◍ General Electric
◍ BAE Systems
◍ Volvo Penta
◍ STEYR MOTORS
◍ Torqeedo
◍ Fairbanks Morse Engine
◍ Masson-Marine SAS
The Marine Propulsion Engine Market is highly competitive with key players such as Caterpillar, Cummins, Rolls-Royce, Wartsila, MAN Diesel & Turbo, General Electric, BAE Systems, Volvo Penta, STEYR MOTORS, Torqeedo, Fairbanks Morse Engine, and Masson-Marine SAS. These companies provide a wide range of marine propulsion engines and solutions to cater to the diverse needs of the market.
- Caterpillar reported sales revenue of $53.8 billion in 2020.
- Cummins reported sales revenue of $19.8 billion in 2020.
- Rolls-Royce reported sales revenue of $22.5 billion in 2020.
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Market Segmentation
By Application
◍ Goods Transport Ships
◍ Fishing Boats
By Product
◍ 0-300 KW ◍ 301-500 KW
Above 801 KW ◍ Passenger Ships
◍ Pleasure Boats/Water Sports
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501-800 KW
Market Growth
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$ X Billion USD
