Marine Fuel Injection Market 2019 Global Trends, CAGR by Technology, Key Players, Regions, Cost, Revenue and Forecast to 2024
Market Research Future (MRFR) has published a research report about the global marine fuel injection market that foresees gains for this market at 4.50% CAGR (Compound Annual Growth Rate) during the forecast period between 2017 and 2024.
The purpose of the marine fuel injection system is to provide an adequate amount of fuel to the engine cylinder at the right time. During the process, the system monitors the injection of fuel inside the engine and ensures the right amount of the fuel in the combustion chamber at the right combustion situation for the highest combustion efficiency.
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The primary factors responsible for the global marine fuel injection market growth include growing shipbuilding industry, growing international seaborne trade, advanced fuel injection system, increase in global maritime trade and tourism, and rise in seaborne trade. Both developed countries, as well as developing countries, are realizing the strategic importance of not only building but also maintaining robust ships with the latest technologies which are contributing to the market growth.
The global marine fuel injection market can be segmented into application, component, horsepower (HP, also known as engine power) range, and lastly, region. Based on application, this market has been segmented into commercial vessels and inland waterways. The component-based segmentation has segmented this market into fuel injector, fuel pump, and fuel valves.
In the context of HP range, the marine fuel injection market has been segmented on the basis of up to 2,000 HP, 2,001-10,000 HP, 10,001-20,000 HP, 20,001-50,000 HP, 50,001-80,000 HP, and above 80,000 HP.
The regional segmentation of the global marine fuel injection market can segment the market into the regional markets known as Asia Pacific, Europe, North America, South America, and the Middle East & Africa (MEA).
In the Asia Pacific region, the market can grow during the forecast period due to the rising seaborne trade in the countries, such as China, India, and South Korea. The governments of many countries in this region have introduced regulatory norms regarding maritime safety to prevent water pollution by ships. Many norms are helpful for market growth. Bangladesh is another small but significant country-specific market in this region. Due to advanced technology, another important country-specific market in this region is Japan, followed by the remaining countries of the Asia Pacific region.
North America is an important regional market due to technological advancement and the presence of key market players in developed countries like USA and Canada. Mexico is the third largest country-specific market in this region.
In Europe, the market can grow due to the reasons that are same as in North America. The chief country-specific markets in this region are Norway, Germany, Italy, Russia, and the UK, followed by the remaining countries of Europe. Some key market players are based in Europe too.
South America is a small regional market because the availability of advanced technology is limited in this region. Brazil is the most important country, the specific market in this region, followed by the remaining countries of South America.
In the MEA region, the market is limited due to most countries being, lack of education, lack of infrastructure, lack of power generation facilities, lack of skilled professionals, lack of awareness, and lack of technological advancement. The big country-specific markets in this region are South Africa, the UAE, Saudi Arabia, and followed by the remaining countries of the MEA region.
The key players in the global marine fuel injection market include Caterpillar Inc. (USA), Cummins Inc. (USA), Delphi Automotive PLC (Ireland), Denso Corporation (Japan), Liebherr International AG (Switzerland), MAN SE (Germany), Robert Bosch GmbH (Germany), Rolls-Royce Holding PLC (UK), Woodward (USA), and Yanmar (Japan).
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