Marine Propulsion Engine Market Share

Market Share of Marine Propulsion Engine Industry

The marine propulsion engine market is moderately consolidated due to the presence of key players like MAN Energy Solutions SE, Wartsila Corporation, Hyundai Heavy Industries Co. Ltd, Yanmar Co. Ltd, and MaK, a subsidiary of Caterpillar Marine. These companies continuously focus on innovating products to provide environmentally sustainable, flexible, economically sound, and efficient customer solutions. The companies are trying to expand their brand values in the market through joint ventures and new product launches.

• In October 2022, Volvo Penta and CMB.TECH announced a tie-up for developing dual-fuel hydrogen-powered solutions aimed at both marine and terrestrial applications. The collaboration will focus on piloting projects of small-scale industrialization and ensuring access to greenhouse gas emission reduction technology.
• In September 2022, MAN Energy Solutions SE and Makita Corporation signed a three-year-long deal to provide MAN PrimeServ services on SCR-HP systems used in MAN two-stroke marine engines made by Makita under license.
• In December 2021, Caterpillar Marine launched the new 2025 mhp Cat C32B engine.

Marine Propulsion Engine Market Leaders

1. Caterpillar Marine (MaK)

2. Hyundai Heavy Industries Ltd.

3. Yanmar Co. Ltd.

4. MAN Energy Solutions SE

5. Wartsila Corporation

*Disclaimer: Major Players sorted in no particular order