Thailand Marine Engine Market Growth, Size, Trends, Challenges, Opportunities and Future Outlook
Thailand Marine Engine Market Size- By Power, By Propulsion Types, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jun-2023 | Report ID: MACH2331 | Pages: 1 - 108 | Formats*: |
| Category : Equipment and Machinery | |||
Thailand Marine Engine Market Overview
According to SPER Market Research, the Thailand Marine Engine Market is estimated to reach USD XX billion by 2033 with a CAGR XX%.
A marine engine is a heat engine that converts heat energy into mechanical energy by burning fuel to propel a ship. It is currently installed on or is scheduled to be installed on a marine vessel. Diesel engines, gas turbines, natural engines, and other types of marine engines are the most common. Natural gas or other liquid fuels can be converted into mechanical energy by the gas turbine. These marine engines power ships such as oil tankers, bulk carriers, general cargo ships, and container ships. Heavy fuel is the type of fuel used to power marine engines. Overall, the marine engine market is an essential component of the maritime industry, enabling the reliable and efficient operation of various types of vessels. It plays a crucial role in supporting transportation, trade, tourism, fishing, and naval activities, contributing to the growth and development of the marine sector.
Exploring the Growth Drivers of the Thailand Marine Engine Industry
The Thailand Marine Engine Market has steadily expanded in recent years as a result of rising population and industrialization, which have significantly increased the rate of commercial activity in Thailand, resulting in increased demand for cargo ships and containers used for international and regional transportation of raw materials and merchandise. Furthermore, Thailand's emergence as the seventh largest producer of palm oil in the world has significant implications for the marine engine market. As Thailand exports palm oil products to countries like China, India, Pakistan, the Philippines, and others, the demand for marine engines is expected to increase if this trend continues. The palm oil industry heavily relies on efficient transportation to move its products from production sites to export destinations. Marine vessels, such as cargo ships and barges, are crucial for this transportation, requiring reliable and powerful marine engines to propel them across the seas.
What challenges does the Thailand Marine Engine Market face?
The Thailand marine engine market faces competition from global manufacturers and suppliers. International companies often have established reputations and access to advanced technologies, making it challenging for local manufacturers to compete in terms of pricing, product range, and innovation. Fluctuations in the global and regional economy can impact the demand for marine engines. Economic downturns or slowdowns can reduce investments in the shipping and maritime industry, leading to a decrease in new vessel construction and retrofitting projects, affecting the demand for marine engines.
In what ways has the COVID-19 pandemic affected Thailand Marine Engine Market?
The pandemic led to disruptions in global supply chains, affecting the availability and delivery of marine engine components and raw materials. Restrictions on international trade, temporary factory closures, and logistical challenges resulted in delays in the production and delivery of marine engines. Furthermore, the pandemic caused a decline in global trade and economic activities, leading to a reduced demand for new vessels. This decline affected shipbuilding projects, resulting in a decreased demand for marine engines for new installations. Many shipyards faced delays or cancellations of vessel orders, impacting the overall demand for marine engines in Thailand. Thailand's marine engine market is also influenced by tourism and recreational activities. With travel restrictions and lockdown measures in place, the tourism industry suffered a severe blow. This led to a decline in the demand for leisure boats and related marine engines.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Power, By Propulsion Types, By Application |
| Regions covered | Eastern Region, Northern Region, Southern Region, Western Region |
| Companies Covered | Cummins Inc., Caterpillar Inc., Mitsubishi Heavy Industries Engine System Asia Pte Ltd., Yamaha Motor Co. Ltd., Mercury Marine, Winterthur Gas & Diesel Ltd., AB Volvo, MAN Energy Solutions SE, Yanmar Holdings Co. Ltd., Rolls Royce Public Limited Company, Others. |
Key Target Audience:
- Boat and Ship Manufacturers
- Commercial Marine Industry
- Fishing Industry
- Government Agencies and Navy
- Marine Engine Service Providers
- Others
Thailand Marine Engine Market Segmentation:
1. By Power:
- Thailand Marine Engine Market Value Share and Forecast, By Power, 2023-2033
- Below 100 Hp
- 100.1-500 Hp
- 500.1-1000 Hp
- Above 1000 Hp
2. By Propulsion Types:
- Thailand Marine Engine Market Value Share and Forecast, By Propulsion Types, 2023-2033
- Diesel Engine
- Fuel Cell
- Gas Turbine
- LNG Engine
- Nuclear
- Solar Water Jet
- Wind
3. By Application:
- Thailand Marine Engine Market Value Share and Forecast, By Application, 2023-2033
- Coast Guards
- Commercial
- Finishing
- Navy
- Offshore Oil And Gas
- Recreational
- Safety Boats
4. By Region:
- Eastern Region
- Northern Region
- Southern Region
- Western Region
Key Topics Covered in the Report:
- Thailand Marine Engine Market Size (FY’2023-FY’2033)
- Overview of Thailand Marine Engine Market
- Segmentation of Thailand Marine Engine Market By Power (Below 100 Hp, 100.1-500 Hp, 500.1-1000 Hp, Above 1000 Hp)
- Segmentation of Thailand Marine Engine Market By Propulsion Types (Diesel Engine, Fuel Cell, Gas Turbine, LNG Engine, Nuclear, Solar Water Jet, Steam Turbine, Wind, Others)
- Segmentation of Thailand Marine Engine Market By Application (Coast Guards, Commercial, Finishing, Navy, Offshore Oil And Gas, Recreational, Safety Boats, Others)
- Statistical Snap of Thailand Marine Engine Market
- Growth Analysis of Thailand Marine Engine Market
- Problems and Challenges in Thailand Marine Engine Market
- Competitive Landscape in the Thailand Marine Engine Market
- Impact of COVID-19 and Demonetization on Thailand Marine Engine Market
- Details on Recent Investment in Thailand Marine Engine Market
- Competitive Analysis of Thailand Marine Engine Market
- Key Players in the Thailand Marine Engine Market
- SWOT Analysis of Thailand Marine Engine Market
- Thailand Marine Engine Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Thailand Marine Engine Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Thailand Marine Engine Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Thailand Marine Engine Market
7. Thailand Marine Engine Market, By Power (USD Million)
7.1. Thailand Marine Engine Market Value Share and Forecast, By Power, 2023-20337.2. Below 100 Hp7.3. 100.1-500 Hp7.4. 500.1-1000 Hp7.5. Above 1000 Hp
8. Thailand Marine Engine Market, By Propulsion Types (USD Million)
8.1. Thailand Marine Engine Market Value Share and Forecast, By Propulsion Types, 2023-20338.2. Diesel Engine8.3. Fuel Cell8.4. Gas Turbine8.5. LNG Engine8.6. Nuclear8.7. Solar Water Jet8.8. Steam Turbine8.9. Wind8.10. Others
9. Thailand Marine Engine Market, By Application (USD Million)
9.1. Thailand Marine Engine Market Value Share and Forecast, By Application, 2023-20339.2. Coast Guards9.3. Commercial9.4. Finishing9.5. Navy9.6. Offshore Oil And Gas9.7. Recreational9.8. Safety Boats9.9. Others
10. Thailand Marine Engine Market Forecast, 2019-2033 (USD Million)
10.1. Thailand Marine Engine Market Size and Market Share
11. Thailand Marine Engine Market, By Power, 2019-2033 (USD Million)
11.1. Thailand Marine Engine Market Size and Market Share By Power (2019-2026)11.2. Thailand Marine Engine Market Size and Market Share By Power (2027-2033)
12. Thailand Marine Engine Market, By Propulsion Type, 2019-2033 (USD Million)
12.1. Thailand Marine Engine Market Size and Market Share By Propulsion Type (2019-2026)12.2. Thailand Marine Engine Market Size and Market Share By Propulsion Type (2027-2033)
13. Thailand Marine Engine Market, By Application, 2019-2033 (USD Million)
13.1. Thailand Marine Engine Market Size and Market Share By Application (2019-2026)13.2. Thailand Marine Engine Market Size and Market Share By Application (2027-2033)
14. Thailand Marine Engine Market, By Region, 2019-2033 (USD Million)
14.1. Thailand Marine Engine Market Size and Market Share by Region (2019-2026)14.2. Thailand Marine Engine Market Size and Market Share by Region (2027-2033)14.3. Eastern Region14.4. Northern Region14.5. Southern Region14.6. Western Region
15. Company Profile
15.1. AB Volvo15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments15.2. Caterpillar Inc.15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments15.3. Cummins Inc.15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments15.4. MAN Energy Solutions SE15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments15.5. Mercury Marine15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments15.6. Mitsubishi Heavy Industries Engine System Asia Pte Ltd.15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments15.7. Rolls Royce Public Limited Company15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments15.8. Winterthur Gas & Diesel Ltd.15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments15.9. Yanmar Holdings Co. Ltd.15.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments15.10. Yamaha Motor Co. Ltd.15.10.1. Company details15.10.2. Financial outlook15.10.3. Product summary15.10.4. Recent developments15.11. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Thailand Marine Engine Market is projected to reach USD XX billion by 2033, growing at a CAGR of XX% during the forecast period.
Thailand Marine Engine Market grew in market size from 2023. The Market is expected to reach USD XX billion by 2033, at a CAGR of XX% during the forecast period.
Thailand Marine Engine Market CAGR of XX% during the forecast period.
You can get the sample pages by clicking the link -Click Here
Thailand Marine Engine Market size is USD XX billion from 2023 to 2033.
Thailand Marine Engine Market Segment is Covered By Power, By Propulsion Types, By Application
The Asia-Pacific region is anticipated to have the highest market share in Thailand Marine Engine Market.
The key players in the market include Companies Covered Cummins Inc., Caterpillar Inc., Mitsubishi Heavy Industries Engine System Asia Pte Ltd., Yamaha Motor Co. Ltd., Mercury Marine, Winterthur Gas & Diesel Ltd., AB Volvo, MAN Energy Solutions SE, Yanmar Holdings Co. Ltd., Rolls Royce Public Limited Company, Others.
The Thailand Marine Engine Market has steadily expanded in recent years as a result of rising population and industrialization, which have significantly increased the rate of commercial activity in Thailand, resulting in increased demand for cargo ships and containers used for international and regional transportation of raw materials and merchandise.
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