The Malaysian Marine Engine Market (2018-2024) by Power, Propulsion Type, Application and Region - Set to Grow at a CAGR of 4.4% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 9, 2019--The “Malaysia Marine Engine Market (2018-2024): Market Forecast by Power, by Propulsion Types, by Applications, by Regions, and Competitive Landscape” report has been added to ResearchAndMarkets.com’s offering.
According to this research, Malaysia Marine Engine Market is projected to grow at a CAGR of 4.4% during 2018-2024.
The Malaysian government is encouraging the shipbuilding industry through an SBSR (Shipbuilding and Ship Repair) strategic plan 2020, aimed at increasing capacity of local yards and promoting shipbuilding. The government has also introduced tax exemption schemes to recover the industry.
Marine Engines that use diesel engine propulsion systems continue to occupy the majority of the share of the market. With the decrease in permitted Sulphur emission level worldwide, the popularity of alternative propulsion systems, such as the LNG engine and steam turbine, are increasing. The demand for LNG engines is expected to grow rapidly after the enforcement of new MARPOL standards for Sulphur emission from January 2020.
Amongst all the applications, offshore Oil and Gas industry in Malaysia leads the market in terms of revenue and volume share. Malaysia is one of the most important producers and exporters of natural gas in Asia. The global slowdown in the oil industry has affected the growth rate of the marine engine but the requirement of boats for Seabed Oil and Gas Drilling, Anchor handling tug supply and Offshore Supply Vessels continue to drive the demand for Marine Engines in Malaysia.
1. Executive Summary
3. Malaysia Marine Engine Market Overview
4. Malaysia Marine Engine Market Dynamics
5. Malaysia Marine Engine Market Trends
6. Malaysia Marine Engine Market Overview, By Power
7. Malaysia Marine Engine Price Trend, By Power Rating
8. Malaysia Marine Engine Market Overview, By Propulsion Types
9. Malaysia Marine Engine Market Overview, By Applications
10. Malaysia Marine Engine Market Overview, By Regions
11. Malaysia Marine Engine Market Key Performance Indicators
12. Malaysia Marine Engine Market Opportunity Assessment
13. Malaysia Marine Engine Market Competitive Landscape
14. Company Profiles (Top 10)Caterpillar Inc. Cummins Inc. MAN Energy Solutions Mercury Marine Mitsubishi Heavy Industries Engine System Asia Pte Ltd. Perkins Engines Co. Ltd. Rolls Royce Public Limited Company Wartsila Yamaha Motor Co. Ltd Yanmar Holdings Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/22hg59/the_malaysian?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190109005694/en/
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Related Topics:Shipbuilding and Ship Parts
KEYWORD: MALAYSIA ASIA PACIFIC
INDUSTRY KEYWORD: TRANSPORT MARITIME
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 01/09/2019 12:20 PM/DISC: 01/09/2019 12:20 PM