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APAC Marine Propulsion Engine Market to witness significant gains over 2016-2024, China and South Korea to be the major revenue pockets



There have been increasing efforts to modernize the marine propulsion engine market to develop engines that are likely to reduce fossil fuel consumptions and make use of renewable energy instead. Thus, rising emphasis on implementing solar and wind energy as an alternative fuel methods for engine propulsion will further boost the industry growth. According to Global Market Insights, Inc., “Marine propulsion engine market size is estimated to grow at an annual rate of 4.3% over the period of 2016-2024.”  

Europe Marine Propulsion Engine Market size, by product, 2013-2024 (USD Million)


Concerns over the environmental issues and energy conservation has gained immense attention over the years. A considerable amount of carbon emissions from conventional systems has prompted the regulatory bodies to enforce norms that mitigate the carbon footprints due to engine exhaust gases. For instance, the Marine Pollution Convention (MARPOL) has introduced such regulations to prevent the environment from chemical spills, air pollution, contamination by oil and sewage. Also, in the event that the companies operating in marine propulsion engine industry attempt to violate these norms, they may be subject to heavy penalties from the government.



The deployment of new-age technologies such as fuel injection, firing pressure, and turbo-charging in diesel propulsion engines will positively affect the market valuation of diesel marine propulsion engine industry. Diesel engines are majorly used due to their high efficiency and high power generation capacity. In addition, a significant rise in the adoption of electric transmission systems will stimulate the fuel cells product deployment in the coming years. Fuel cells marine propulsion engine market has gained considerable traction, owing to its high performance in auxiliary impulsion and low-power machinery.



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