The new report by Informes de Expertos titled, ‘Latin America Marine Engines Market 2023-2028’ , provides a broad review of the factors that reflect positively on the market landscape and explores the factors in terms of power range, engine, type, fuel type, application, and key regions. The report also examines market constraints and challenges, based on Porter’s five forces models, along with a SWOT analysis. Furthermore, the market is assessed on the basis of past and future trends and their subsequent influence on the algorithm. The study includes extensive research, covering price indicators and market players, illustrating the impact on market dynamics and prospects.
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Los aspectos más destacados del informe son:
Visión General del Mercado (2018-2028)
• CAGR del Periodo de Pronóstico (2023-2028): 2,65%
El crecimiento económico de la región está provocando un aumento de la demanda de motores marinos para diversas aplicaciones, como el transporte marítimo, la pesca y el turismo. Además, la expansión de las actividades de producción de petróleo y gas en alta mar está impulsando la demanda de motores marinos para buques de apoyo. Se espera que las iniciativas gubernamentales destinadas a promover el desarrollo de la industria marítima impulsen la demanda de motores marinos en la región. El crecimiento positivo del mercado también se proyectó por el valor que se obtuvo en 2022, es decir, USD 825 millones de dólares.
El crecimiento del comercio marítimo, tanto dentro de América Latina como con otras regiones, está aumentando la demanda de motores marinos para operaciones de transporte marítimo comercial. Los avances en la tecnología de los motores, como el aumento de la eficiencia del combustible y la reducción de las emisiones, están impulsando la demanda de motores marinos más avanzados en la región. La necesidad de sustituir los buques más antiguos y menos eficientes por otros nuevos y tecnológicamente más avanzados está impulsando la demanda de motores marinos en la región.
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Industry Definition and Major Segments
Marine engines are internal combustion engines, that convert fuel into mechanical energy, specifically designed for use in boats, ships, and other maritime vessels. Marine engines are available in a range of sizes, power outputs, and configurations, and can be powered by gasoline, diesel, or alternative fuels such as LNG or biofuels. They are typically engineered to meet the specific demands of the marine environment, including harsh weather conditions, corrosive saltwater, and the need for reliable and efficient performance at sea.
Based on power range, the market is categorised into:
• Up to 1000 HP
• 1,001 – 5,000 HP
• 5,001 – 10,000 HP
• 10,001 – 20,000 HP
• Above 20,000 HP
By engine, the industry segments the industry into:
• Auxiliary Engine
• Propulsion Engine
Depending on the type, the industry is divided into:
• Two-Stroke
• Four-Stroke
According to fuel type, the market is classified into:
• Heavy Oil Fuel
• Marine Diesel Oil
• Intermediate Fuel Oil
• Marine Gas Oil (MGO)
• Others
The applications are widely segregated into:
• Commercial Vessels
• Offshore Support Vessels
• Passenger Vessel
• Navy
• Others
Key regions covered include:
• Brazil
• Argentina
• Mexico
• Chile
• Others
Market Trends
The focus on reducing fuel consumption and emissions is leading to the adoption of more efficient marine engines in the region. Also, the growing use of alternative fuels, such as liquefied natural gas (LNG), is becoming increasingly common in the marine engine market in Latin America. There is also a gradual shift towards electric and hybrid engines powered by batteries and other alternative sources of energy, thereby becoming more prevalent in the region.
The growth of the recreational boating industry in Latin America is driving demand for smaller, more affordable marine engines. Moreover, the expansion of the shipbuilding industry in the region is leading to increased demand for marine engines for new vessels. There is also a focus on after-sales support, which is becoming a key factor in the purchasing decisions of marine engine customers in Latin America.
Key Market Players
The major players in the market are:
• J.B. Hunt Transport, Inc.
• C.H. Robinson Worldwide, Inc.
• CEVA Logistics
• FedEx
• XPO Logistics, Inc.
• KENCO
• Deutsche Post AG
• Others
This report covers their profiles and provides information on expansions, investments and mergers and acquisitions, among other latest industry developments.
About Us
Informes de Expertos, the Spanish variant of Expert Market Research, is a platform that offers market research and consultancy services to a broad clientele base across Spanish speaking countries. With our primary focus on the Latin America and Spain markets, our research experts provide relevant and actionable insights into the markets and track major trends, economic developments, and global trade data.
Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.
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