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(Transportation-News.com, May 12, 2017 ) Marine inboard engines are mainly used in yachts and in some powerboats. More than one inboard engines are equipped in yachts as engines with more power and torque are required to drive yachts. Powerboats are equipped either with inboard or outboard engines. More than 80% of powerboats are equipped with outboard engines, making the presence of outboard engines more dominant in powerboats. There has been a growing trend of lightweight yachts to enhance speed and efficiency, and it has also been observed that lightweight yachts have lower maintenance and consumes less energy to manufacture.
Technavios analysts forecast the global marine inboard engines market to grow at a CAGR of 2.31% during the period 2017-2021.
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With the development of the boating industry and increased spread of emission regulations for marine engines, marine inboard engines are likely to see higher adoption rates soon. Additionally, the increase in number of boat shows and the rise in the number of participants in water recreational activities will also drive the demand for marine inboard engines. Furthermore, boat shows are held in marketplaces where pre-owned boats are sold to buyers at discounted rates which is catering to the growth of this market.
One of the latest trends that will gain traction in the marine inboard engines market in the coming years is the penetration of hybrid turbochargers. The marine industry has put substantial investment in R&D to cut down harmful emissions from boats, along with improving fuel economy and reducing operating cost. Hybrid turbochargers are different from conventional turbochargers in terms of both waste gas energy recovery as well as fuel economy benefit. In hybrid turbochargers, the turbo shaft acts as a prime mover as it also generates electricity through an alternator in the turbocharger which generates the electrical power without consuming any extra fuel, contributing to higher fuel economy.
The market is divided into the following segments based on geography:
Europe
ROW
US
Technavio's report, Global Marine Inboard Engines Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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Key vendors
Mercury Marine
Caterpillar
Cummins
Volvo Penta
Other prominent vendors
Yamaha
Honda
Suzuki
Market driver
Strong revival of the US and European economies.
For a full, detailed list, view our report
Market challenge
Less participation from younger generation in water-related recreational activities.
For a full, detailed list, view our report
Market trend
Growing pursuit for alternative fuel propulsion technology.
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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