Marine Propulsion and Auxiliary Power Market Analysis

Fuel Type (Diesel, Liquefied Natural Gas (LNG), Liquefied Petroleum Gas (LPG), Natural Gas, Battery, Ammonia, Hydrogen)

Based on fuel type, the diesel segment is set to hold 25% share of the global marine propulsion and auxiliary power market by the end of 2036. It is expected that during the period under consideration, it will be dominant in this sector. The mixture of hydrocarbons obtained through the distillation of crude oil is diesel fuel. For various fuel grades and in a variety of countries, the specifications for diesel fuels vary. The growth of this segment can be attributed on the back of diesel engine technology advancement. Diesel engine manufacturers are constantly developing new technologies that enhance the efficiency and emissions performance of their engines.

Vesel Type (Tankers/Carriers, Barges/Cargo Vessels, Tugboats, Defense Vessels, Ferries, Yachts, Cruise Ships)

In terms of vessel type, the ferries segment is set to dominate the global marine propulsion and auxiliary power market by the end of the forecast period registering a CAGR of 30%. Ferries are vessels of any size carrying passengers and vehicles on fixed routes over short cross-water passageways in many cases. These vessels are intended for the purpose of transporting passengers across a variety of water bodies. Heavy fuel oils and marine diesel are most commonly used on ferry services. An increase in the number of ferries that switch from diesel to heavy fuel oil is expected to drive this segment.

Our in-depth analysis of the global marine propulsion and auxiliary power market includes the following segments: