Wednesday, 01 June 2022 12:50

Marine Diesel Engine Market in North America to observe high growth through 2027

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The market share of marine diesel engines is expected to grow rapidly owing to rising environmental awareness and increasing retrofit efforts. Various government measures to reduce marine pollution across the ECA may impact the demand for low-emission engines. Reductions in CO2 emissions and affordable prices in economically viable locations are some of the key factors driving product installations. The U.S. marine diesel industry is expected to grow significantly through 2027 as the situation normalizes. Rising import and export activities, and subsequent exploration efforts to meet expanding diesel demand, are likely to positively impact the industry outlook in 2021-2027. Worsening crude oil prices favor the deployment of diesel because of its higher efficiency compared to current alternatives.

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