Hyderabad, India, August 25,2019- The Marine propulsion is the system that is used to generate a thrust that allows a small boat or even a ship to move across waterways. Modern ships are usually equipped with mechanical systems consisting of an electric motor turning a propeller, or even pump-jets or an impeller. The Global Marine Propulsion Engine Market was worth 9.68 Billion USD in 2018 and is estimated to reach 12.60 Billion USD by 2025 at a CAGR of 3.84 % during the forecast period

Growth by Region

Asia Pacific region is expected to dominate the Global Marine Propulsion Engine Market followed by Europe, Asia-Pacific region.

Drivers vs. Constraints

Increase in production & sales of ships, rising international seaborne trade drive the market growth, increasing demand for resources such as crude oil, coal, steel, and iron drives the growth of Global Marine Propulsion Engine Market.

The stringent environmental rules & regulations and large capital investment required to set up new manufacturing facilities are the reasons which restrains this market growth.

Make An Enquiry @ https://markgenes.com/industry-reports/energy-and-power/Global-Marine-Propulsion-Engine-Market

Industry Structure and Updates

In March 2018, Hexion announced potentially path breaking one-shot resin infusion process for marine composites like Propulsion Systems.

Browse other Energy and Power reports at: https://markgenes.com/industry-reports/energy-and-power