Marine Engines Market is projected to grow at a CAGR of 24.2% during the forecasting period 2021-2027. This expansion can be attributed to factors such as increased international marine freight transport, increased maritime tourism, and increased penetration of smart engines for situational awareness and safety. By 2024, the 5,001–10,000 hp segment is expected to have the largest market share.
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During the forecast period, Asia Pacific is expected to have the largest market size. China, South Korea, and Japan are regarded as the primary manufacturing hubs for marine engines. Furthermore, the increase in seaborne trade has resulted in an increase in demand for ships used to transport manufactured goods to various regions around the world, which is driving the market.
The report consists of the list of the vendor's profile of Marine Engines market include Hyundai Heavy Industries, Caterpillar, MAN SE, Mitsubishi Heavy Industries, Volvo Group, Rolls-Royce, Wärtsilä (Finland), Cummins, GE Transportation, and DEUTZ AG.
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