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Analysis of the European Marine Generator Set Market

  • August 2013
  • Frost & Sullivan
Report ID: 1610559

Summary

Table of Contents

Investment in oilfield exploration activities drives demand

The European marine generator set market is mature, thus, has slow growth. Much of the shipbuilding activities have migrated to the Asian countries of South Korea, China, and Japan. Eurozone recession, combined with financing difficulties, is affecting demand for new vessels and, thus, gensets used in Europe. However, Europe has its competitive advantage in building advance ships. Moreover, oil and gas exploration and production activities and growth in renewable energy (especially offshore wind) are key driving factors for ships and vessel production and, thus, gensets in the European market. The study is from 2010 to 2017 and the base year is 2012.

Executive Summary

-The European marine generator set (genset) market is expected to grow at a compound annual growth rate (CAGR) ofX% from 2012 to 2017 in revenue and units are expected to increase from X in 2012 to X in 2017.
-Commercial vessels such as cargo ships, tankers, and tug boats accounted for more than half of the genset unit sales, followed by pleasure vessels such as ferries, yachts, and ships.
-Oil and gas exploration activities in the North Sea and the focus on manufacturing advance ships are driving the growth of the marine sector in Europe. However, Asia is the hub of shipbuilding with the bulk of business concentrated in China, South Korea, and Japan.
-Moreover, the Eurozone debt crisis and the ongoing recession are affecting demand for boats and ships and, hence, demand for gensets is low.
-The low power range generator set of rating below XkW is highly competitive. Regional distribution faces fierce competition from Turkish, Chinese, and Korean manufacturers.
-Medium to large power range gensets (X kW to X kW and above X MW) are having good growth and not much price erosion compared to the smaller power range.

CEO’s Perspective

1. The European marine genset market is mature, however, slow growth is indicated.
2. Eurozone recession and financing difficulties are affecting demand for new vessels and, thus, gensets used.
3. Oil and gas exploration and production activities are the driving factors for ships and vessels, indirectly increasing genset demand.
4. Eighty-nine per cent volume of gensets sold in Europe is in the range ofX kW-X kW. However, the X kW-X kW and X MW-X MW both account for X% of the revenue.
5. Hybrid power and propulsion (use of lithium-ion batteries, renewable energy, and biofuel gensets) are gaining popularity.

Market Overview—Definitions

Marine Gensets
-A marine genset (including engine and alternator) is an auxiliary power plant that provides the electricity needed to operate ships. The typical marine generator, similar to all mobile generators, burns either diesel fuel or gasoline.
-This study includes all marine gensets installed on ships that have been built in Europe, irrespective of the ships’ destination.

Definition by End User
-Pleasure Vessels: Pleasure vessels include sailing and sports yachts, cruise vessels, ferries, catamarans, and ocean liners. They are used to carry people for sports or recreational purposes.
-Commercial Vessels: Commercial vessels include cargo ships, auto carriers, bulk carriers, reefers, tankers, super tankers, and tug boats.
-Defence Vessels: Defence vessels include aircraft carriers, guide missile cruisers, mine sweepers, frigates, mine hunters, destroyers, and other coast-guard and police-patrolling vessels.

Currency Used
-Euro, pounds and US dollar currencies are used in this study. The exchange rate used is $X equals € . The exchange rate for pound is € equals £X.

Market Overview—Scope

Geographical Scope
-The scope of the study includes European Union (EU) 27 countries along with Norway, Croatia, and Switzerland.
-This research does not include Russia and Commonwealth Independent States (CIS) and Turkey.

Research Period
-Base year for the research is 2012.
-Study period is from 2010–2017.
-Forecast period is from 2013–2017.

Power Range
0–60 kW
60.1 kW–500 kW
500.1 KW–1 MW
1 MW–3.5 MW

Fuel Type
Diesel

Key Questions This Study Will Answer

- Is the market growing, how long will it continue to grow and at what rate?
- Which companies are the key competitors and how are they positioned in the base year in the European marine genset market?
- Which power ranges offer the best prospects for growth in the future?
- Are there many stakeholders involved in this market? What is the most popular route to market?
- What are the important drivers and restraints for this market?
- What are the key factors influencing the choice of an engine supplier in this market and what are the key purchasing criteria?

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