Marine Gensets Market: COVID-19 Impact and Global Analysis Forecast to 2028

Marine generator sets are used in numerous types of vessels such as commercial vessels, defence vessels, offshore support vessels and other vessel types. A marine generator set assists in keeping the current flowing throughout the electrical system on the ship or boat. A generator is electro mechanical device that transforms motive power to electrical power for using it in an external circuit. Some of the key sources of mechanical energy are water turbines, hand cranks, gas turbines, steam turbines and internal combustion engines. The reverse variation of electrical energy to mechanical energy is accomplished by using an electrical motor and these motors and generators have numerous alike characteristics. In order to generate electricity, most of the motors are mechanically driven so as to make regular manual generators.

The growth of the marine gensets market is projected to be mainly driven by increase in the number of commercial vessels coupled with fast increase in ship building activity. The advanced ship buildings are generally ruled by container ships and bulk carriers particularly in China and Japan along with South Korea ruling in gas carrier and container ships. Furthermore, the major key factor for the development of the globnal marine gensets market is mainly the growing demands for high value pressure vessels. In addition to this, the marine gensets market in Europe has also observed an evolving demand particularly for hybrid generators. However, strong competition from least cost suppliers might pretence a serious risk for the growth of the global market in specialization with marine gensets. Furthermore, there are many governmental and non-governmental organizations which impose huge number of strict regulations in order to reduce the emissions of the marine gensets and these are the very factors hampering growth of the market. Due to increase in ship building activities that takes place especially in South Korea, and China, the Asia-Pacific region is expected to dominate the global marine gensets market. The countries mentioned above are highly investing in ship building projects and the key market players are increasing their manufacturing facilities in these countries through new licensees and manufacturing units and manufacturing plants. Additionally, factors such as increase in the production of marine freight, gas carrier and container ships across the globe, increase in high value pleasure vessels, increase in demand for hybrid fuel powered marine gensets, increasing competition from least cost vendors and rise in the shipping of green cells are some other key factors affecting the development of the global marine gensets market.

Globally the marine gensets market can be divided based on capacity, fuel, vessel type and region. Based on fuel, the market can be divided into hybrid, gas and diesel. Based on capacity, the market can be divided into as above 20,000 HP, 10,001 HP to 20,000 HP, 5,001 HP to 10,000 HP, 1,001 HP to 5,000 HP, 1,000 HP. Based on vessel type, the market can be divided into offshore, defense, commercial vessels and others. Based on geography, the market can be divided into Europe and Middle East & Africa, Asia-Pacific, North America and Latin America.

Some of the key players in the global marine gensets market include Valley Power Systems, Inc. Wärtsilä, Rolls-Royce Power Systems AG, MAN Diesel & Turbo SE, Caterpillar, Inc., Daihatsu Diesel Mfg. Co., Ltd., Dresser Rand, Mitsubishi Heavy Industries, Deutz Agand Kohler Co. among others.

Globally the marine gensets market can be divided

By Fuel:
• Hybrid
• Gas
• Diesel

By Capacity:
• Above 20,000 HP
• 10,001 HP to 20,000 HP
• 5,001 HP to 10,000 HP
• 1,001 HP to 5,000 HP
• 1,000 HP

By Vessel Type:
• Offshore vessels
• Defense vessels
• Commercial vessels
• Others vessels

By Region:
• Europe
• Middle East & Africa
• Asia-Pacific
• North America
• Latin America