Increasing sea trade activities has led to continuous increase in sea traffic over the past few years. This has fuelled the demand for ships & cargos which in turn driving the growth of the marine fuel injection systems. Marine transportation is a necessary substitute where other modes of freight transportation (roads, rails, airways) are not possible or feasible. Marine transportation includes national defense (naval vessels), passenger transportation (cruise & ferries), navigational services (harbor maintenance vessels) and fishing & resource extraction.
Moreover, transportation has been referred to as one among the four keystones of globalization. In the recent past, many countries have seen economic growth, due to which focus has shifted towards international trade and investment. In fact, the marine industry has transformed and upgraded in terms of technology, labor resources and national registries over the decade.
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A marine fuel injection system is one of the most important parts of a marine diesel engine. Marine fuel injection systems provide the right amount of fuel to the engine at the right time. Therefore, the marine fuel injection systems helps to attain better throttle response, fuel flow, equal distribution of fuel, and precision control of exhaust system. With prevailing exhaust gas emissions for marine diesel engines, fuel injectors have become a necessity in ships; which consequently is expected to support demand for the marine fuel injection system market. Additionally, the arrival of electronic marine fuel injection systems will also support the demand for marine fuel injection system.
Marine fuel injection system: Drivers
The growing demand for sea trade activities coupled with strict marine regulations is expected to fuel the demand of ships & containers, which in turn is projected to drive the growth of global marine fuel injection system. Moreover, increase in global maritime tourism & trade and growth of shipping industry is further expected to upsurge the demand of marine fuel injection market during the forecast period.
Marine fuel injection system: Restraints
However, technical design complexity that increase the R&D cost is expected to hamper the growth of the market during the forecast period. Moreover sluggish demand from China’s marine market would pose an additional restraint to the growth of marine fuel injection market.
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Marine fuel injection system: Opportunities
Advanced fuel injection systems and increase in demand for luxury ships & inland water boats will create an opportunity for marine fuel injection system manufacturer to grow their market. With marine emission norms are getting stringent over the years will support the growth of marine fuel injection systems.
More than 60% of shipbuilding activities are concentrated in countries such as Japan, South Korea and China. Therefore, Asia-Pacific would be the prominent market for marine fuel injection systems. Additionally, European companies are shifting towards Chinese manufacturers owing to cost advantage. These factors will drive the demand for marine fuel injection in Asia-Pacific region.
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