European marine gensets market revenues set to report increases of 4.1% CAGR during 2013 to 2018
Marine Gensets Market in Europe 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-11 09:49:01
The Marine Gensets market in Europe is forecast to grow at a CAGR of 4.13 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing demand for high-value pleasure vessels. The Marine Gensets market in Europe has also been witnessing the emerging demand for hybrid generators. However, high competition from low-cost vendors could pose a challenge to the growth of this market.
Key vendors dominating this space are Caterpillar Inc., Cummins Inc., Kohler Co., and Mitsubishi Heavy Industries Ltd.
Other vendors mentioned in the report are ABB Ltd., GE Co., Siemens AG, and Yanmar Co. Ltd.
The following companies represent the key players in Marine Gensets Market in Europe: Caterpillar Inc., Cummins Inc., Kohler Co., and Mitsubishi Heavy Industries Ltd.
The Marine Gensets market in Europe is witnessing a growing demand for hybrid gensets which run on both gas and diesel. Hybrid gensets are more cost-effective and offer higher fuel efficiency than conventional gensets. Also, hybrid gensets use clean technology and emit fewer greenhouse gases. Thus, the increasing demand for hybrid generators is expected to increase the overall potential of the Marine Gensets market in Europe.
The market in Europe is driven by several growth factors including an increasing demand for high-value pleasure vessels. Many European countries such as Germany, France, and Italy are experiencing huge business opportunities in low-power marine gensets which are used in pleasure vessels, thereby creating a demand for marine gensets among these vessels.
Further, the high competition from low-cost vendors is one of the major challenges to the market in Europe. Major vendors in the Global Marine Gensets market in Europe are being forced to use a low pricing strategy in order to retain their position in the market, which is adversely affecting profit margins.
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