DUBLIN--(BUSINESS WIRE)--The "Global Marine Turbine Propulsion Engine Market 2017-2021" report has been added to ResearchAndMarkets.com's offering.
Global marine turbine propulsion engine market to grow at a CAGR of 5.11% during the period 2017-2021.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is rising adoption of marine hybrid propulsion technology. The upcoming trend in the global marine turbine propulsion engine market is the adoption of hybrid propulsion systems. The worldwide marine hybrid propulsion market is expected to grow at a CAGR of 8% to be worth about $4.5 billion by 2022.
According to the report, one driver in the market is surge in commercial shipping. The growing commercial shipping industry is a direct effect of globalization. Since economies worldwide are interlinked, the world trade volume is also affected by the condition of the global economy. Economic expansion leads to the growth of international trade in which seaborne trade plays a key role. Therefore, the growth and development of the global economy present enormous opportunities for the marine industry, especially due to the global demand for and supply of commodities and manufactured goods. Sea transportation is necessary for the delivery of goods from distant suppliers. The transportation of goods via the sea route takes place mostly in containers, with products categorized as either less-than-container load or full-container-load.
Further, the report states that one challenge in the market is deteriorated shipbuilding industry in Greece. The Eurozone crisis significantly impacted the Greek shipbuilding industry that has been dominating the global shipping trade since the early 1960s. The stimulus package of the EU and the bailout of International Monetary Fund helped the nation, which was affected by the increased borrowing costs and austerity measures associated with the previous EU bailouts. However, the aftereffects of the crisis will continue for some more years. One of the sectors that have been among the worst affected by the crisis is shipbuilding.
- Hyundai Heavy Industries
- Kawasaki Heavy Industries
- Mitsubishi Heavy Industries
Other Prominent Vendors
Key Topics Covered
1: Executive Summary
2: Scope of the Report
3: Research Methodology
5: Market Landscape
6: Market Sizing
7: Five Forces Analysis
8: Market Segmentation by Product
9: Market Segmentation by End-User
10: Regional Landscape
11: Decision Framework
12: Drivers and Challenges
13: Market Trends
14: Vendor Landscape
15: Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/research/dpvs53/global_marine?w=4