Growing Seaborne Trade to Aid Growth in Middle East & Africa Marine Engines Market
Growing
industries along coastal areas, increasing demand for energy and growth in
world trade to fuel growth in Middle East & Africa marine engines market
through 2023
According to a recently
published TechSci Research report “MiddleEast & Africa Marine Engines Market By Type, By Application, By Engine
Power Rating, By Country, Competition Forecast & Opportunities, 2023’’, Middle East & Africa marine engines
market is projected to reach $ 1 billion by 2023. Rising demand for ships across countries like
the United Arab Emirates (particularly Dubai and Abu Dhabi), Saudi Arabia, Oman
and Qatar, due to presence of major ports and shipyards in these countries is
pushing demand for marine engines across the region. Moreover, the region is
developing as a dynamic maritime hub of shipbuilding, repair, offshore and
shipping, and has the largest ship repair facility which is likely to aid the
growth of marine engines market across Middle East & Africa in the coming
years. Additionally, increasing demand for commercial fleets and boats for
recreational purposes is further augmenting the demand for marine engines
across the region.
Browse 5 market data Tables and 41 Figures
spread through 69 Pages and an in-depth TOC on "Middle East & Africa
Marine Engines Market"https://www.techsciresearch.com/report/middle-east-africa-marine-engines-market/3296.html
Manufacturing companies
are providing a wide range of marine engines and related services, including
troubleshooting, repairs and scheduled overhauls, due to growing demand for tanker
and container vessels across the Middle East & Africa. Moreover, bulk and
gas carriers used for transportation of natural gas and other cargos is further
contributing to the growing demand for marine engines. This demand is further
anticipated to increase during forecast period. Few major companies operating
in Middle East & Africa marine engines market include Mitsubishi Corporation, MAN SE, Wartsila Corporation,
Caterpillar Inc., Volvo Penta, Rolls Royce Holding Plc., Cummins Inc., and
General Electric, among others.
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“Rising demand for ferries
and tug boats is boosting the demand for marine engines across Middle East
& Africa. Moreover, growing demand for
marine engines for commercial as well as recreational use would further aid the
growth of the market during the forecast period. Additionally, growing seaborne
trade globally is expected to steer growth in the Middle East &
Africa marine engines market in the coming
years.” said Mr. Karan Chechi, Research Director with TechSci Research,
a research based global management consulting firm.
“Middle
East & Africa Marine Engines Market By Type, By Application, By Engine
Power Rating, By Country, Competition Forecast & Opportunities, 2023’’ has evaluated the future growth
potential of Middle East & Africa marine
engine market and provides statistics and information on market size, structure
and trends. The report intends to provide cutting-edge market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in Middle East & Africa marine engines market.
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