Technavio Marine Engine Monitoring System Market Research Report Forecasts Growth of USD 119.18 Million

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NEW YORK, August 29, 2022 /PRNewswire/ — The Marine Engine Monitoring Systems Market is Growing at a CAGR of 3.92% and Expected to Record Incremental Growth of $119.18 million between 2021 and 2026. The report analyzes the size and growth of the market and provides accurate forecasts of the market growth.

Marine Engine Monitoring System Market Research Report Now Available On Technavio

  • The report recognizes the following marine engine monitoring system market players ABB Ltd., Applied Satellite Technology Ltd., Bayerische Motoren Werke AG, Caterpillar Inc., and CMR Group, among others.

  • The structure of the global marine engine monitoring system market is fragmented in nature.

  • APAC to have a significant share in the market for marine engine monitoring systems.

  • Market to observe 3.1% year-over-year growth in 2022. See sample report here.

Key segments

The Marine Engine Monitoring Systems Market is segmented by application (propulsion and auxiliary).

The demand for marine engine monitoring systems for propulsion engines has been significant in the market. The segment is driven by the benefits associated with the use of marine engine monitoring systems in propulsion engines, such as reduced fuel consumption, improved maintenance planning, reduced risk of engine damage, etc. Furthermore, the ongoing development of smart propulsion engines for marine vessels will further contribute to the growth of the segment over the forecast period.

Regional Growth Analysis

Global Marine Engine Monitoring Systems Market is analyzed across five regions – APAC, Europe, North America, South Americaand the Middle East and Africa.

APAC is currently the dominant region, occupying 53% of the global market share. Rising maritime traffic and rising demand for new container ships and tankers are driving the growth of the regional market. In addition, increasing government support to support the development of the marine industry in emerging markets will further contribute to the growth of the marine engine monitoring system market in APAC.

Identify potential segments and regions to invest in during the forecast period. Read sample report before buying

Market dynamics

The marine engine monitoring system market is expected to witness substantial growth over the forecast period, primarily driven by the growing number of warships due to uncertainties in APAC, Middle Eastand Russia. APAC countries, Middle Eastand Russia are rethinking their defense strategies due to some uncertainties beyond borders. This increases investment in sea-based defense and maritime security. For example, in July 2018Vladimir Putin, President of Russia, announced the country’s plans to add 26 new ships by the end of the year. Many such fender plans are expected to increase the demand for marine engines over the forecast period, thereby driving the growth of the market.

The report also covers information on upcoming trends and challenges that will influence market growth. Explore the scope of the full report by Download sample report.

Supplier Landscape

The market for marine engine monitoring systems is fragmented. The market is very capital-intensive and represents a major challenge for local players. Smaller players find it difficult to compete with international providers in terms of quality, features, functionality, and service. With the introduction of products with new features and innovative technologies such as autonomous vessels, big data analytics and others, competition is expected to intensify.

Here are some of the products offered by the main suppliers:

ABB Ltd. : The company offers marine engine monitoring systems such as the Cylmate PFPL203 pressure transducer, Cylmate PMVG21 angle transducer and Cylmate PFPA202 controller.

Applied Satellite Technology Ltd. : The company offers marine engine monitoring systems such as iVMS, VMS Plus, IRIS and iRAMS Telemetry.

Caterpillar Inc.: The company offers marine engine monitoring systems such as Cat Marine Digital Services, Cat Asset Intelligence and Cat Remote Fleet Vision.

Along with market data, Technavio offers customizations according to specific business needs. The Following Customization Options are Available for the Marine Engine Monitoring System Market Report:

Regional analysis

Information on market players

  • Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.

  • Know the strategies adopted by sellers during the recovery phase.

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Marine Engine Monitoring System Market Scope

Report cover

Details

Page number

120

base year

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 3.92%

Market Growth 2022-2026

$119.18 million

Market structure

Fragmented

Annual growth (%)

3.1

Regional analysis

APAC, Europe, North America, South America, Middle East and Africa

Successful market contribution

APAC 53%

Main consumer countries

United States, China, Japan, Germany and United Kingdom

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

ABB Ltd., Applied Satellite Technology Ltd., Bayerische Motoren Werke AG, Caterpillar Inc., CMR Group, Cummins Inc., Emerson Electric Co., Hyundai Heavy Industries Group, Jason Marine Group Ltd., Kongsberg Gruppen ASA, Mitsubishi Heavy Industries Ltd. . ., NORIS Group GmbH, Porsche Automobil Holding SE, Siemens Energy AG and Wartsila Corp.

Market dynamics

Parent market analysis, market growth drivers and barriers, analysis of fast growing and slow growing segments, impact of COVID 19 and future consumer dynamics, and analysis of market conditions for the forecast period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents :

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by Application

6 Customer Landscape

7 Geographic landscape

8 drivers, challenges and trends

9 Supplier Landscape

10 Vendor Analysis

11 Appendix

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