Report Description

South America Marine Engines Market is expected to register a CAGR of approximately 7% from 2024 to 2028. Marine engine demand is rising across South America because of factors such as expanding seaborne trade activities and increasing commercial and industrial demand for marine engines. Additionally, growing merger and acquisition activities in the South American marine engines market is anticipated to drive the market in the upcoming years. Moreover, rising demand for vessels and oil tankers in South America will drive demand for marine engines during the forecast period.

A marine engine is an engine-powered pump that transfers fluid or compressed air: a marine engine is a machine for watercraft propulsion. Engines used in marine vehicles, including propelled boats, ships, and other allied vehicles, are known as marine engines. Marine vessels can be used in various applications, including surveillance, shipping, and offshore support. Their size and application determine the type of motor used in these vehicles.

Growing demand for marine engines in both commercial and industrial sectors  

Bulk carriers, crude oil tankers, LNG ships, and mega container ships are all widely used in commercial shipping. These enormous ships need a lot of power to move them through rough waters. More than 85% of these vessels are propelled by large slow-speed engines directly linked to the propeller. The expansion of free trade and the demand for consumer goods have been fueled by rising industrialization and the liberalization of national economies. Technology advancements have improved the efficiency and speed of shipping as a mode of transportation. Estimates of total seaborne trade over the past 40 years have quadrupled, rising from just over 8 trillion tonne-miles in 1968 to over 32 trillion tonne-miles in 2008.

Government regulations to regulate maritime pollution

Government implemented several norms and regulations to regulate CO2 emission, as, ships are a major source of air pollution. Therefore, reduced black carbon emissions have emerged as an increasingly important element to fight global warming, as black carbon is the second most powerful climate warming pollutant after carbon dioxide (CO2).

Some of the government regulations are:

  • Brazilian Government signed up to UN Clean Seas campaign. The Clean Seas campaign support governments be creating effective national laws and encouragement for businesses and citizens to create sustainable models of production and consumption.
  • In 2022, The International Atomic Energy Agency (IAEA) helped Peru to assess and limit the environmental damage from a major oil spill in its coastal waters.

Growing demand for vessels and oil tankers

There is an increase in demand for vessels and oil tankers as there is a subsequent growth in the maritime logistics. According to the UNCTAD, maritime logistics is considered the backbone of trade, as it transports about 84% of volumes traded globally and almost 70% of global trade value and approximately 80.3% in South America, predominantly in the South American subregion. Therefore, ports play a significant role in  distribution of goods, food, and medical supplies through supply chains. The shipping industry of South America has distinct features, such as companies are mostly private-owned, with small fleets, short-distance geographical coverage and diversified specialization.


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Market Segmentation

The South America Marine Engines Market is divided into ship type, capacity, fuel, speed, stroke, and engine. Based on ship type, the market is further segmented into oil tankers, bulk carriers, general cargo ships, container ships, gas carriers, chemical tankers, and others. On the basis of capacity, the market is further split into 0-10000 HP, 10000-20000 HP, 20000-30000 HP, 30000-40000HP. On the basis of fuel, the market is further divided into high speed, medium speed, Low Speed. On the basis of stroke, the market is further bifurcated into two-stroke and four-stroke. On the basis of engine, the market is further segmented into propulsion engine and auxiliary engine.

The demand for seaborne trade activities is driving the South Marine Engines Market and is expected to register a high CAGR during the forecast period.

Market Players

Caterpillar Inc., Cummins Inc., Hyundai Heavy Industries Co. Ltd., MAN Energy Solutions, Mercury Marine, Mitsubishi Heavy Industries Inc., Rolls Royce PLC, Volvo Penta, Wartsila Corporation, and Yanmar Holdings Co. Ltd, are some of the major players in the South America Marine Engines Market.

 

Key developments 


In September 2022, MAN Energy Solutions SE launched the new MAN 49/60 engine. The engine can run on LNG, diesel, and heavy fuel oil, as well as biofuels and synthetic natural gas. The engine is a four-stroke, dual-fuel engine that will help the transition to clean maritime transportation.


Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2023 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023 – 2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

Ship Type

Capacity

Fuel

Speed

Stroke

Engine

Country scope

Brazil, Argentina, Venezuela, Peru, Chile

Key companies profiled

Caterpillar Inc., Cummins Inc., Hyundai Heavy Industries Co. Ltd., MAN Energy Solutions, Mercury Marine, Mitsubishi Heavy Industries Inc., Rolls Royce PLC, Volvo Penta, Wartsila Corporation, and Yanmar Holdings Co. Ltd

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, the South America Marine Engines Market has been segmented into the following categories, in addition to the speed trends, which have also been detailed below:

·         South America Marine Engines Market, By Ship Type:

o   Oil Tankers

o   Bulk Carriers

o   General Cargo Ships

o   Container Ships

o   Gas Carriers

o   Chemical Tankers

o   Others

·         South America Marine Engines Market, By Capacity:

o   0-10000 HP

o   10000-20000 HP

o   20000-30000 HP

o   30000-40000HP

·         South America Marine Engines Market, By Fuel:

o   Heavy Fuel Oil

o   Intermediate Fuel Oil

o   Marine Diesel Oil

o   Marine Gas Oil

·         South America Marine Engines Market, By Speed:

o   Two-Stroke

o   Four-Stroke

·         South America Marine Engines Market, By Stroke:

o   High Speed

o   Medium Speed

o   Low Speed

·         South America Marine Engines Market, By Engine:

o   Propulsion Engine

o   Auxiliary Engine

·         South America Marine Engines Market, By Region:

o   South America

§  Brazil

§  Argentina

§  Venezuela

§  Peru

§  Chile

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the South America Marine Engines Market.

Available Customizations:

South America Marine Engines Market report with the given market data, Tech Sci Research, offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to ten).

South America Marine Engines Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on the South America Marine Engines Market

4.    Executive Summary

5.    Voice of Customers

5.1.  Brand Awareness

5.2.  Factors Considered while Selecting Supplier

5.3.  Key Satisfaction Level

5.4.  Major Challenges Faced

6.    South America Marine Engines Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Ship Type (Oil Tankers, Bulk Carriers, General Cargo Ships, Container Ships, Gas Carriers, Chemical Tankers, and Others)

6.2.2.    By Capacity (0-10000 HP, 10000-20000 HP, 20000-30000 HP, 30000-40000HP)

6.2.3.    By Fuel (Heavy Fuel Oil, Intermediate Fuel Oil, Marine Diesel Oil, Marine Gas Oil)

6.2.4.    By Speed (High Speed, Medium Speed, Low Speed)

6.2.5.    By Stroke (Two-Stroke, Four-Stroke)

6.2.6.    By Engine (Propulsion Engine, Auxiliary Engine)

6.2.7.    By Country

6.2.8.    By Company (2022)

6.3.  Market Map

6.4.  Value Chain Analysis

6.5.  Regulatory and Standardizations Related to Marine Engines Market​

6.6.  Porter's Five Forces Analysis

6.6.1.    The Threat of New Entrants

6.6.2.    Bargaining Power of Buyers/Consumers

6.6.3.    Bargaining Power of Suppliers

6.6.4.    The Threat of Substitute

6.6.5.    The Intensity of Competitive Rivalry

7.    South America Marine Engines Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Ship Type

7.2.2.    By Capacity

7.2.3.    By Fuel

7.2.4.    By Speed

7.2.5.    By Stroke

7.2.6.    By Engine

7.2.7.    By Country

7.3.  South America: Country Analysis

7.3.1.    Brazil Marine Engines Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value 

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Ship Type

7.3.1.2.2.           By Capacity

7.3.1.2.3.           By Fuel

7.3.1.2.4.           By Speed

7.3.1.2.5.           By Stroke

7.3.1.2.6.           By Engine

7.3.2.    Argentina Marine Engines Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value 

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Ship Type

7.3.2.2.2.           By Capacity

7.3.2.2.3.           By Fuel

7.3.2.2.4.           By Speed

7.3.2.2.5.           By Stroke

7.3.2.2.6.           By Engine

7.3.3.    Colombia Marine Engines Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value 

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Ship Type

7.3.3.2.2.           By Capacity

7.3.3.2.3.           By Fuel

7.3.3.2.4.           By Speed

7.3.3.2.5.           By Stroke

7.3.3.2.6.           By Engine

7.3.4.    Peru Marine Engines Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value 

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Ship Type

7.3.4.2.2.           By Capacity

7.3.4.2.3.           By Fuel

7.3.4.2.4.           By Speed

7.3.4.2.5.           By Stroke

7.3.4.2.6.           By Engine

7.3.5.    Chile Marine Engines Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value 

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Ship Type

7.3.5.2.2.           By Capacity

7.3.5.2.3.           By Fuel

7.3.5.2.4.           By Speed

7.3.5.2.5.           By Stroke

7.3.5.2.6.           By Engine

8.    Market Dynamics

8.1.  Drivers

8.1.1.    Growing demand for marine engines in both commercial and industrial sectors

8.1.2.    Growing seaborne trade activities

8.1.3.    Growing demand for vessels and oil tankers

8.2.  Challenges

8.2.1.    Stringent Emission Norms

8.2.2.    Bilateral trade imbalances

9.    Market Trends & Developments

9.1.  Trends and Developments

9.1.1.    Increased focus on Ship Type Launches and Supply Contracts

9.1.2.    Government regulations to regulate maritime pollution

9.1.3.    Increasing use of environment friendly LNG-fueled engines

9.1.4.    Rise in strategies and developments from market players

9.1.5.    Increasing efforts towards expanding engine capacity

10. Company Profiles

10.1.             Caterpillar Inc.

10.1.1. Business Overview

10.1.2. Key Revenue and Financials (if available)

10.1.3. Recent Developments

10.1.4. Key Personnel

10.1.5. Key Ship Type/Services

10.1.6. SWOT Analysis

10.2.             Cummins Inc.

10.2.1. Business Overview

10.2.2. Key Revenue and Financials (if available)

10.2.3. Recent Developments

10.2.4. Key Personnel

10.2.5. Key Ship Type/Services

10.2.6. SWOT Analysis

10.3.             Hyundai Heavy Industries Co. Ltd.

10.3.1. Business Overview

10.3.2. Key Revenue and Financials (if available)

10.3.3. Recent Developments

10.3.4. Key Personnel

10.3.5. Key Ship Type/Services

10.3.6. SWOT Analysis

10.4.             MAN Energy Solutions

10.4.1. Business Overview

10.4.2. Key Revenue and Financials (if available)

10.4.3. Recent Developments

10.4.4. Key Personnel

10.4.5. Key Ship Type/Services

10.4.6. SWOT Analysis

10.5.             Mercury Marine

10.5.1. Business Overview

10.5.2. Key Revenue and Financials (if available)

10.5.3. Recent Developments

10.5.4. Key Personnel

10.5.5. Key Ship Type/Services

10.5.6. SWOT Analysis

10.6.             Mitsubishi Heavy Industries Inc

10.6.1. Business Overview

10.6.2. Key Revenue and Financials (if available)

10.6.3. Recent Developments

10.6.4. Key Personnel

10.6.5. Key Ship Type/Services

10.6.6. SWOT Analysis

10.7.             Rolls Royce PLC

10.7.1. Business Overview

10.7.2. Key Revenue and Financials (if available)

10.7.3. Recent Developments

10.7.4. Key Personnel

10.7.5. Key Ship Type/Services

10.7.6. SWOT Analysis

10.8.             Volvo Penta

10.8.1. Business Overview

10.8.2. Key Revenue and Financials (if available)

10.8.3. Recent Developments

10.8.4. Key Personnel

10.8.5. Key Ship Type/Services

10.8.6. SWOT Analysis

10.9.             Wartsila Corporation

10.9.1. Business Overview

10.9.2. Key Revenue and Financials (if available)

10.9.3. Recent Developments

10.9.4. Key Personnel

10.9.5. Key Ship Type/Services

10.9.6. SWOT Analysis

10.10.          Yanmar Holdings Co. Ltd.

10.10.1.              Business Overview

10.10.2.              Key Revenue and Financials (if available)

10.10.3.              Recent Developments

10.10.4.              Key Personnel

10.10.5.              Key Ship Type/Services

10.10.6.              SWOT Analysis

11. Strategic Recommendations

11.1.             Focus on technological developments

11.2.             Focus on better fuel management

12. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The major market players in the South America Marine Engines Market are Caterpillar Inc., Cummins Inc., Hyundai Heavy Industries Co. Ltd., MAN Energy Solutions, Mercury Marine, Mitsubishi Heavy Industries Inc., Rolls Royce PLC, Volvo Penta, Wartsila Corporation, and Yanmar Holdings Co. Ltd. The companies are actively investing in the research and development of marine engines market.

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Marine vessels favor the use of two-stroke engines as opposed to four-stroke due to fuel usage, engine efficiency, and power-to-weight ratio.

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The significant advantage of using Marine Engines Market is that it has greater efficiency and economical.

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Bilateral trade imbalances is a significant challenge for the South America Marine Engines Market.

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Parvati Sharma

Account Manager BD
Press Release

South America Marine Engines Market to Register an exceptional CAGR through 2028

Jan, 2023

Increase in seaborne trade activities is a significant factor expected to drive the growth of the South America Marine Engines Market during the forecast period of 2024-2028.