The global marine fuel injection system market size is expected to reach USD 6.30 billion by 2027, registering a CAGR of 3.36% over the forecast period, according to a new study conducted by Grand View Research, Inc. Marine fuel injection system is a combination of several components that include injectors, pumps, and valves. These components form a vital part in the entire propulsion system of the ship and are responsible for maintaining the adequate supply of the fuel in the combustion chamber for efficient functioning of the engine.
These systems require frequent replacements or repairs when used for marine applications. In addition, the shipbuilding companies are required to abide by the stringent emission regulations imposed by the government of their respective nations. Therefore, proper and efficient functioning of these systems is required to maintain the engine efficiency.
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The product suppliers across the globe are undertaking strategic initiatives to develop innovative products with better efficiency and enhanced engine performance. Moreover, growing concern with regards to emission regulation is also making component suppliers to improvise their product offerings.
Marine Fuel Injection System Market Report Highlights
• A rise in the global seaborne trade is one of the major factors driving the market growth
• Fuel injector segment is expected to account for the largest market share during the forecast period owing to the short lifespan of these components
• Commercial application segment led the market in 2018 and is expected to maintain its dominance throughout the forecast years owing to widespread usage of cargo/container ships
• Asia Pacific is anticipated to be the largest regional market followed by Europe owing to increasing demand for personal watercrafts in countries including Australia and China
• The key companies in the market include Caterpillar, Inc.; Rolls-Royce Plc; Yanmar Co. Ltd.; Woodward, Inc.; and Liebherr International AG
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Marine Fuel Injection System Market Segmentation
Grand View Research has segmented the global marine fuel injection system market on the basis of component, application, and region:
Marine Fuel Injection System Component Outlook (Revenue, USD Million, 2016 - 2027)
• Fuel Injector
• Fuel Pump
• Fuel Valve
• Electronic Control Unit (ECU)
• Others
Marine Fuel Injection System Application Outlook (Revenue, USD Million, 2016 - 2027)
• Commercial
o Passenger Cruise
o Bulk Carrier & Container Ships
o Tankers
o Others
• Defense
o Submarines
o Aircraft Carriers
o Destroyers
o Frigates
Marine Fuel Injection System Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
• Asia Pacific
o China
o India
o Japan
• Latin America
o Brazil
o Mexico
• Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.