AB Digital, Inc. 7-Dec-2018 10:11 AM
Market Synopsis of Marine Fuel Injection
Significant Growth in the International sea trade, booming shipping industry and strict regulations regarding marine emission is expected to drive the demand for the Marine fuel injection market. The Marine Injection market is forecasted to reach USD 5.20 billion in the forecasted period at a CAGR of 3.9%.
Marine fuel injection system is a management system for engines in the marine vessel for the application in inland waterways, commercial vessels and offshore support vessels, which comprises super boat, outboards, custom boat, poker run, NJBA, cargo vessel, tanker, containership, bulkers, marine vessel etc. These marine vessel comprises of components such as fuel injector, fuel pump, fuel valves, electronic control unit (ECU), and fuel pressure regulators. These fuel injection helps achieve instant throttle response precise regulation of exhaust system, enhanced fuel flow, and equal fuel distribution.
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The emergence of the marine fuel injection market has been driven by the regulation norms pertaining harmful emissions. Marine fuel injection system market develops in parallel with development in the ship & boat building industry. Growth in the international sea borne trade, increase in the number of the commercial vessel, launch of electronic and methanol fuel injection systems, and stringent marine regulations owing to environmental concerns are majorly driving the market.
Geographically, the global Marine Fuel Injection market has been divided into Europe, Asia Pacific and Rest of the World. Among these regions, with a share of more than 42%, Asia Pacific led the global marine fuel injection market, in 2016. Owing to the upsurge in shipbuilding activities, flag adaptations, and the replacement of old vessels with modern marine fuel injection systems, Asia Pacific is likely to arise as a extremely attractive market for marine fuel injection over the forthcoming years, maintaining its dominance over the global market. Europe, being the global center for suppliers and traders of shipping and bunker fuel, has been providing good opportunities to marine fuel injection system manufacturers. Analysts expect the Europe marine fuel injection market to retain the second position in the years to come. The market in North America, on the other hand, will observe a slowdown in the near future as it approaches maturity. The marine fuel injection market in Middle East & Africa and Latin America are unveiling great potential for future growth, owing to the increase in exploration activities in these regions.
Global manufacturers are now focusing on technology advancement and innovations to develop marine fuel injection systems. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, product launch, innovation, increasing investments in research and development and cost-effective product portfolio. Innovations related to development of engines that are powered by non-conventional energy such as solar & wind and LNG fuelled engines will also boost the marine fuel injection market. Major players are investing on internal R&D and, most of all, in acquiring other firms.
Woodward, Yanmar, Cummins Inc., Liebherr International AG, Robert Bosch GmbH, Rolls-Royce Holding PLC, Caterpillar Inc. and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global marine fuel injection market.
In April, 2018 – Rolls-Royce (London:RR.) and Woodward, Inc. (NASDAQ: WWD) jointly announced that they have signed an agreement for Woodward to acquire L'Orange GmbH and its related operations located in Germany, the United States and China ("L'Orange"), for an enterprise value of Euro 700 million (USD 859 million1). L'Orange is part of Rolls-Royce, the power solutions provider, and specifically its Rolls-Royce Power Systems business.
In March, 2018 – YANMAR, a multinational company and well-known brand in the recreational marine industry, announced a strategic investment in San Francisco-based GetMyBoat, the world's largest boat rental and water experience marketplace. The investment includes funding and a strategic partnership between YANMAR Group Company YANMAR MARINE INTERNATIONAL, a leading provider of marine engines, and GetMyBoat.
In February, 2018 – YANMAR MARINE INTERNATIONAL has assumed full responsibility for the distribution of its products and services in Finland, Estonia and Latvia. Following positive discussions between both organisations, Oy Brandt Ab will no longer represent YANMAR in these countries, and with preparations for this change having been finalised, the new representative office is called YANMAR MARINE FINLAND.
In January, 2018 – YANMAR MARINE INTERNATIONAL is launching the latest addition to its family of new generation common rail (CR) diesel engines, the compact YANMAR 3JH40 inboard engine, at boot Düsseldorf.
In December, 2017 – Yanmar officially announces that it has reached an agreement on the acquisition of 100% of the shares in Flexofold ApS ("Flexofold"). Flexofold, located in Denmark, is a global leading developer and manufacturer of superior low-drag folding propellers for sailboats and multihull yachts. With Flexofold, Yanmar further expands and strengthens its position in the recreational marine industry.
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The scope of global Marine Fuel Injection market is segmented into two major segments which are explained below:
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Press Release Distributed by ABNewswire.com
To view the original version on ABNewswire visit: Worldwide Marine Fuel Injection System Market Share, Growth, Key Players and CAGR of 3.9% Foresight to 2027
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