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The global marine engines market size is projected to grow from USD 11.8 billion in 2020 to USD 13.7 billion by 2025; it is expected to grow at a CAGR of 3.1% from 2020 to 2025. The key factors driving the growth of the marine engine market include growth in international marine freight transport, growth in maritime tourism, and increasing adoption of smart engines for situational awareness and safety.

The global marine engines market is projected to reach USD 13.3 billion by 2027 from an estimated USD 11.7 billion in 2022, at a CAGR of 2.6% during the forecast period. The global marine engines market is driven by the growth in international marine freight transport, aging fleet, and adoption of smart engines for performance and safety.

The global marine VFD market is projected to reach USD 1,039 million by 2024 from an estimated USD 772 million in 2019, at a CAGR of 6.13% during the forecast period. This growth can be attributed to the rise in demand for energy efficiency. Download PDF Brochure @ www.marketsandmarkets.com/pdfdown…d=85395523 The AC drive segment is expected to hold the largest share of the marine VFD market, by type, during the forecast period The AC drive segment is estimated to dominate the marine VFD market in 2019 and is projected to have the largest market share during the forecast period. This is because the use of an AC drive helps in energy savings, increases the life of rotating components, reduces the noise and vibration level, decreases mechanical stress on motor control applications, and enhances the overall process control.

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The global marine engines market is projected to reach USD 16.4 billion by 2024 from an estimated USD 14.0 billion in 2019, at a CAGR of 3.11%. This growth can be attributed to the growth in international marine freight transport, growth in maritime tourism, and penetration of smart engines for situational awareness and safety.

The key factors driving the growth of the marine engine market include growth in international marine freight transport, growth in maritime tourism, and increasing adoption of smart engines for situational awareness and safety.

Marine VFD Market is expected to reach USD 1.6 billion by 2030 from USD 1.1 billion in 2023 at a CAGR of 5.0% during the 2023-2030 period according to a new report by MarketsandMarkets™. Marine VFDs are essential because they help reduce power consumption, prevent damage, and enhance safety. VFDs also allow remote tracking of ship VFDs, regulate speed and torque, and provide fuel savings. The majority of propeller applications use VFDs, which can boost energy efficiency.

The Global marine VFD market is expected to grow from an estimated USD 804 million in 2021 to USD 1,075 million by 2026, at a CAGR of 6.0% during the forecast period. Marine VFD are increasingly being installed and is showing robust growth.

According to the new market research report "Marine Engines Market by Engine (Propulsion Engine, Auxiliary Engine), Type (Two Stroke, Four Stroke), Power Range (Up to 1,000 hp, 1,001-5,000 hp, 5,001-10,000 hp, 10,001-20,000 hp, Above 20,000 hp), Fuel, Vessel and Region - Global Forecast to 2027", published by MarketsandMarkets™, the Marine Engines Market size will grow to USD 13.3 billion by 2027 from USD 11.7 billion in 2022, at a CAGR of 2.6% during the forecast period.

According to the new market research report "Marine Engines Market by Engine (Propulsion Engine, Auxiliary Engine), Type (Two Stroke, Four Stroke), Power Range (Up to 1,000 hp, 1,001-5,000 hp, 5,001-10,000 hp, 10,001-20,000 hp, Above 20,000 hp), Fuel, Vessel and Region - Global Forecast to 2027", published by MarketsandMarkets™, the Marine Engines Market size will grow to USD 13.3 billion by 2027 from USD 11.7 billion in 2022, at a CAGR of 2.6% during the forecast period.

According to a research report "Marine Engines Market by Engine (Propulsion and Auxiliary), Type (Two Stroke and Four Stroke), Power Range (Up to 1,000 hp, 1,001-5,000 hp, 5,001-10,000 hp, 10,001-20,000 hp, and Above 20,000 hp), Fuel, Vessel and Region - Global Forecast to 2029″ published by MarketsandMarkets, the market size for marine engines is projected to reach approximately USD 15.2 billion by the year 2029, as compared to the estimated value of USD 13.1 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 3.0% over the forecast period.

According to a research report "Marine Engines Market by Engine (Propulsion and Auxiliary), Type (Two Stroke and Four Stroke), Power Range (Up to 1,000 hp, 1,001-5,000 hp, 5,001-10,000 hp, 10,001-20,000 hp, and Above 20,000 hp), Fuel, Vessel and Region - Global Forecast to 2029″ published by MarketsandMarkets, the market size for marine engines is projected to reach approximately USD 15.2 billion by the year 2029, as compared to the estimated value of USD 13.1 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 3.0% over the forecast period.

The global marine engines market is projected to reach USD 15.2 billion by 2029, showing a growth from the estimated USD 13.1 billion in 2024, with a compound annual growth rate (CAGR) of 3.0% from 2024 to 2029. Traditionally, after-sales services like maintenance and repairs have been a part of the marine engines market. However, companies are finding ways to optimize this segment to generate recurring revenue.

The small marine engines market has witnessed significant growth over recent years, driven by advancements in technology, increased demand for recreational boating, and a growing emphasis on eco-friendly solutions. This blog delves into the key players shaping the market, the emerging technologies driving innovation, and the factors contributing to the industry's expansion. According to a new market research report, The small marine engines market size was valued at USD 7.8 billion in 2022 to reach USD 10.3 billion by 2027, at a CAGR of 5.5% during the forecast period.

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With a 1,600 km coastline, Gujarat ranks first among the states in marine fish production and exported 1.88 lakh tonnes of marine products worth Rs.1,265 crore in fiscal 2008-09, according to the National Bank for Agriculture and Rural Development (NABARD).

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