Marine Engines Market is estimated to surpass $ 11.04 Billion marks in 2018 and reach USD XX Billion by 2026, at a Compound Annual Growth Rate (CAGR) of XX % during the forecast period 2018-2026 globally.
Marine Engines Market
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Marine Engines Market is set to witness an appreciable growth subject to growing trade activities and positive outlook toward maritime industry. In 2016, a rise in container trade contributed over 23% of the global seaborne trade. According to a UNCTAD report, in 2016 world seaborne trade volumes expanded by 2.6% as compared to 1.8% in 2015. However, more than 80% of the seaborne trade majorly contributes to carbon emissions. Expanding tourism industry driven by improvement in the standard of living, a rise in disposable incomes, and demographic changes will stimulate the global marine engines market size. As per the World Travel & Tourism Council in 2016, maritime tourism was the highest revenue generating segment and accounted for 10.2% of the global GDP and generated USD 7.6 trillion.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.