Marine engine market could reach 13.53 billion US dollars by 2021, growing at a CAGR of 3.85 % from 2016 to 2021. Increased demand for commercial vessels and rise in the ship-building industry will drive the growth in the marine engines market. Commercial vessels including bulk cargo carriers, gas carrier vessels, and pleasure vessels will have an increased demand largely due to economic recovery in China. Asia-Pacific will dominate the marine engines market largely due to rise in ship-building activity in China, South Korea, and Japan. The marine engines market is dominated by global players which include MAN Diesel & Turbo SE (Germany), Wärtsilä (Finland), Caterpillar, Inc. (U.S.), Mitsubishi Heavy Industries (Japan) and Rolls-Royce Power Systems AG (Germany).
'Tropical Shipping', the largest supplier of reliable solutions to the Bahamas and Caribbean, has ordered a series of MAN propulsion packages in China to complement an expansion of its vessel fleet.
The company has ordered 4 × 1,100-teu container vessels, each equipped with an MAN B&W 6S60ME-C8.5 main engine, complete with TCA66-21 turbocharger and an SCR (Selective Catalytic Reduction) module to achieve Tier III compliance. The propulsion package also features 3 × MAN 6L23/30 Holeby GenSets with MAN TCR14 turbochargers, as well as the latest generation of CP propellers, the VBS1550-5 Mk5, which is a five-bladed design combined with the MAN Alpha rudder-bulb concept. The order by Tropical Shipping's is planned to be delivered by the middle of 2018.
Three MAN 18V32/40 generator sets are supplying the electricity for the crane facility at King Abdullah Port - the most modern port in Saudi Arabia. After successful commissioning by MAN Diesel & Turbo, the facility was handed over to the customer ESDM (Energy Solutions Developers and Managers). The three units run on marine diesel oil and function as generator sets supplying a total of approximately 26 MW of electricity to the crane facility. The King Abdullah port is the fastest growing port in the world and the largest project in Saudi Arabia.
Germany’s MAN Diesel & Turbo is supplying a compact gas turbine package for a decentralized CHP plant in China which will replace a coal-fired power station. The company will collaborate with Chinese firm Guangdong Liyu New Energy Science & Technology to deliver the plant for ENN Ubiquitous Energy Network Technology, a subsidiary of the ENN Group, one of the largest private energy companies in China. The plant will run on a MAN MGT-series gas turbine, which will produce approximately 6 MW of power and 12 MW of heat for an industrial zone in Huai’an in Jiangsu province.
Sales of diesel engines in Western Europe will reach $ 58 billion by 2020. Sales from 2010 to 2015 were less than expected, but now an increase is expected. According to analyst Gleb Mytko, manufacturers operating in the region will boost equipment output, causing related diesel engine demand to rise. Furthermore, manufacturers of durable goods in Western Europe are expected to increase their use of newly developed, state-of-the-art diesel engines between 2015 and 2020.
Hyundai Heavy Industries (HHI) is setting its sights on developing 25% lighter propellers by 2018. Propellers will be made of composite material so as not to lag behind the global technology. HHI has also held a ceremony for the 5000-th propeller which weighed 77 tons.