The Marine Fuel Injection Market is Fragmented and Involves Regional as well as International Players
The global marine fuel injection market is estimated to grow at a CAGR of 3.9% from 2016 to 2021. Growth of the marine fuel injection market is attributed to the growth of the shipbuilding industry, rise in seaborne trade, and growth of maritime tourism in regions such as Asia-Pacific, Europe, and North America. Increasing shipbuilding activities in Asia-Pacific is expected to make it a leading region in the marine fuel injection market by 2021.
The marine fuel injection market is fragmented and involves regional as well as international players. Few of the market leaders include Cummins Inc. (U.S.), Liebherr International AG (Switzerland), Robert Bosch GmbH (Germany), Rolls-Royce Holding PLC. (U.K.), Caterpillar Inc. (U.S.), Yanmar Co. Ltd. (Japan), Woodward Inc. (U.S.), Denso Corporation (Japan), Delphi Automotive plc. (U.K.), and MAN SE (Germany).
Investment and expansion was the most common strategy followed by market players to increase their revenue and market share. This strategy was adopted by the key industry players with an aim to get an entry into regional markets. Most players also adopted new product development and contracts & agreements as growth strategies, which would further help them to win more contracts.
Robert Bosch GmbH (Germany) led the market with the highest global sales of marine injection systems. It is a leading supplier of technology products and services. Bosch operates through 440 subsidiaries in more than 60 countries. It has presence in around 150 countries through its sales and service partners. Robert Bosch GmbH recently opened up a new office in Tehran (Iran) to expand its presence in the attractive Middle East markets. The company expects good demand from the region for products such as engine, fuel injection systems, and all automotive related components.
Rolls-Royce Holding PLC. (U.K.) is a leading manufacturer of high performance power systems. The company has operational networks in 50 countries, and has sales network in more than 120 countries. The company is continuously working on its R&D to expand its product portfolio by 2020. The company also plans to expand its business in the emerging Asian markets; the recent expansion in China by L’Orange represents a move in this direction.
Related Reports:
Marine Fuel Injection System Market by Application (Inland Waterways, Commercial Vessels and Offshore Support Vessels), by Component (Fuel Injector, Fuel Valves, Fuel Pump and Others), by HP Range and by Region - Trend and Forecasts to 2021
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