Marine propulsion engine market size to grow by USD 1.34 billion


Market drivers and challenges

The report identifies the increase in maritime trade and fleet size as one of the major growth factors of the market. In addition, other factors including growing demand for warships and increasing use of LNG as marine fuel will further accelerate the market growth. However, challenges including MARPOL regulations, volatile crude oil and natural gas prices, weak demand and oversupply of vessels will hamper market growth.

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Market segmentation

The marine propulsion engine market is segmented as follows:

  • By type
    o Diesel
    o Gas
  • By geography
    o APAC
    o Europe
    o North America
    o MEA
    o South America

The diesel type segment dominated the market share in 2020 and will continue to maintain its dominance in the market. In terms of geography, 69% of the growth will come from APAC. China, Japan, and South Korea will become the main income-generating economies in this region. This report presents a detailed picture of the market through study, synthesis, and summation of data from multiple sources through analysis of key parameters.

Market scope

The marine propulsion engine market covers the following areas:

Sizing of the marine propulsion engine market
Marine Propulsion Engine Market Forecast
Marine Propulsion Engine Market Analysis

Companies mentioned

  • AB Volvo
  • BAE Systems Plc
  • Beta Marine Ltd.
  • Caterpillar Inc.
  • Cummins Inc.
  • Societe Generale Électrique.
  • Mitsubishi Heavy Industries Ltd.
  • Rolls-Royce Plc
  • Wartsila Corp.
  • Yanmar Holdings Co. Ltd.

Associated reports:
Marine Outboard Motors Market by Motor Power and Geography – Forecast and Analysis 2021-2025

Marine Engines Market by Type and Geography – Forecast and Analysis 2021-2025

Scope of the marine propulsion engine market

Cover of the report


Page number


Year of reference


Forecast period


Growth dynamics and CAGR

Accelerate to a CAGR of 3.87%

Market growth 2021-2025

$ 1.34 billion

Market structure


Annual growth (%)


Regional analysis

APAC, Europe, North America, MEA and South America

Efficient contribution to the market

APAC at 69%

Main consumer countries

China, South Korea (Republic of Korea), Japan, Germany and the United States

Competitive landscape

Leading companies, competitive strategies, reach of consumer engagement

Profiled companies

AB Volvo, BAE Systems Plc, Beta Marine Ltd., Caterpillar Inc., Cummins Inc., General Electric Co., Mitsubishi Heavy Industries Ltd., Rolls-Royce Plc, Wartsila Corp. and Yanmar Holdings Co. Ltd.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Obstacles, Analysis of Fast Growing and Slow Growing Segments, Impact of COVID-19 and Future Consumer Dynamics, Analysis of Market Conditions for the Forecast Period


If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize the segments.

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