Commercial Vessels: Engine Market

Goals

To determine the total number of 2-stroke marine engines in commercial vessels with ECU, and without ECU for product development.

Early Findings

2-stroke engine market size

  • According to Market Watch, the global marine diesel engine market is valued at $6.3 billion and is expected to grow at a CAGR of 3.83% during 2018-2023.
  • The marine diesel engine market is further segmented into 2-stroke engines and 4-stroke engines. In 2017, 4-stroke engines held two-thirds of the market and this share is expected to increase by 3.71% (CAGR) until 2023 due to their high-performance capacity.
  • Based on the above information, we can conclude that the 2-stroke diesel marine engine market has a one-third share of the total market. Since the market size in 2018 was $6.3 billion, the 2-stroke engine market is worth approximately $2.1 billion ($6.3 billion*1/3).
  • According to Spectro Scientific, 2-stroke diesel engines are used in about 30,000 ships worldwide.
  • Statista reports that there were 53,045 merchant ships in the world. Based on the above findings, if one-third of these ships were considered to have 2-stroke engines, then the total number of ships can be roughly estimated as 17,682 (53,045*1/3)

ECU and Non ECU engines

  • According to Markets and Markets, the global marine fuel injection systems market (includes fuel injectors, fuel pumps, fuel valves, Electronic Control Unit (ECU), and others) was worth $4.3 billion in 2016. The fuel injection segment dominated the market, followed by ECUs. By application, commercial vessels held more than half of the marine fuel injection systems market.
  • The leading players in the global marine fuel injection market include Cummins Inc. (U.S.), Liebherr International AG (Switzerland), Robert Bosch GmbH (Germany), Rolls-Royce Holding PLC. (U.K.), and Caterpillar Inc. (U.S.)

Proposed next steps:

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