Increasing Expectation from the Aftermarket With Respect to Higher Revenue Generation in the Global Marine Fuel Injection System Market
The global marine fuel injection system market is presently witnessing a steady pace of growth across key regional markets. Since the last few years, there has been an increase in the quantity of new orders from personal watercraft vessels and passenger vessels. This has resulted in an increase in revenue in the current market scenario. To cater to key players’ requirements regarding research in the field of marine fuel injection systems, Future Market Insights has generated a new report titled “Marine Fuel Injection System Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027),” which covers every aspect of the dynamically changing market. The research delivers a forecast analysis of the marine fuel injection system market for a period of 10 years (2017-2027). In-depth analysis of several forces that have an impact on the revenue growth of the global market is also included in this comprehensive research report.
Global Marine Fuel Injection System Market: Forecast Highlights
According to the report, the global marine fuel injection system market is expected to grow at a CAGR of 3.4% during the period of forecast to reach a valuation of around US$ 6.4 Bn by the end of the year of assessment from a market value of a little over US$ 4.5 Bn in 2017.
Global Marine Fuel Injection System Market: Segmental Intelligence
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The global marine fuel injection system market is segmented by sales channel, application, engine capacity, engine type and by region.
By sales channel, the aftermarket segment is expected to generate higher revenue in the coming years. It is anticipated to reflect a value of over US$ 4 Bn by 2027 end and is poised to grow at a high CAGR of 4.1% throughout the period of forecast
By engine capacity, the up to 2000 HP segment is the largest and is expected to grow at the highest pace during the 2017-2027 timeline. This segment is anticipated to generate approximately US$ 4.5 Bn by the end of the year of assessment
By application, the personal watercraft segment radiates high potential and is also expected to generate high revenue over the forecast period. On the other hand, the fishing vessels segment is expected to rise at a higher pace to register a CAGR of 3.6%
By engine type, 4 stroke is a fast growing segment to reflect a growth rate of more than 3.5% during the forecast period. It is also the largest segment leading the global market
By region, Asia Pacific excluding Japan (APEJ) is expected to dominate the global market with a high valuation of more than US$ 2 Bn by 2027 end owing to the large existing fleet and significant new deliveries of marine vessels
Global Marine Fuel Injection System Market: Dynamics
Growth Driving Factors: There are various aspects that contribute to the growth of the global marine fuel injection system market. Rise in seaborne trade, expansion in fleet size, increasing regulations focussed on enhancing the efficiency of new ships, increase in global maritime tourism and recovery of shipbuilding activities across emerging markets have pushed the growth of the global marine fuel injection system market.
Growth Inhibiting Factors: Likewise, there are few factors that have a growth pulling effect. Aspects such as slow growth in developed economies, intensifying competition narrowing profit margins and reducing replacement rates and focus on repair and maintenance have hampered the growth of the global market for marine fuel injection systems.
Trends: Development of anti-leakage devices in fuel injection nozzles, rising product innovations to win market leadership, high demand for compact, low cost and easy to install products, noteworthy focus on new product developments and launches, mid-sized players looking forward to expand their businesses in emerging economies, use of ULSD reducing the emission exhaust however increasing the replacement rate and rising fuel injection pressure in marine vessels are few of the trends observed in the global marine fuel injection system market.
Global Marine Fuel Injection System Market: Competitive Analysis
The report includes a dedicated competitive assessment section that profiles some of the key players in the global marine fuel injection system market. Key companies featured in this analytical research report are Cummins Inc., Woodward, Inc., Robert Bosch GmbH, Caterpillar Inc., Delphi Automotive Plc., Yanmar Co. Ltd., Suzuki Motor Corporation, MAN SE, Liebherr International AG, DENSO Corporation, Rolls-Royce Power Systems AG, OMT - Officine Meccaniche Torino SpA, Heinzmann GmbH & Co. KG, Marren Fuel Injection, Walbro LLC, DUAP AG, Chongqing Hongjiang Machinery Company Limited, Synerject LLC, Firad S.p.A. and ChinahanJi Power Co., Ltd.
For more interesting insights into the global marine fuel injection system market, write in to Future Market Insights analysts at email@example.com