Low Cost of Maintenance is Driving Marine Genesets Market

Providing ample power to all the equipment and devices on a ship can be a tough task. The sheer amount of energy consumption a regular basis on the sea or on land is calling out additional power generation methods as well as methods for conservation of power. One of the ways to solve this problem of energy on a ship is using marine gensets.

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The energy utilization and consumption problem on the ships is intensified when these vessels are away from land for longer period of time. While the operators of the vessels regularly opt for running their main engines to consistently fuel the ship’s DC and AC systems, it can be highly taxing for their fuel efficiency. Also, this constant switching leads to a lot of noise and unnecessary vibrations. Marine gensets on the other hand can remove such issue and be a perfect addition to the power systems on these marine vessels.

One of the main advantages of the modern marine gensets is that they can be highly compact in size. While the larger sizes of gensets can take up considerable amount of space, the smaller ones do not have such issues. A marine genset of appropriate size can be easily purchased by figuring out the overall requirement of power of all the equipment on board. The selected genset then must be able to generate around 20 percent more power than the calculated one. Marine gensets can also be cooled using water so as to improve their optimal performance efficiency. This is expected to drive the growth of the global marine gensets market.

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Some key trends in the global marine gensets market are given below:

  • Marine segments is expected to be affected by the introduction of alternative or natural fuels. Even with strict regulations for emission controls, diesel marine gensets are expected to thrive due to their safe storage ability and low cost of maintenance. 

Developing Shipping Industry to Expand Marine Gensets Market

Need for electric has now become highly essential either on land or in sea. Providing electricity on land is much easier than providing in sea and can be a challenging task. With the growing demand for electricity on land as well as sea created the need for supplementary power generation methods. Marine genset is one of the key way of providing supplementary power on a ship. The need for supplementary power generation increases when the ship is out for longer durations. Moreover, there are times when vessel operators commonly resort to running their main engines to continuously fuel the vessel’s AC and DC systems. This becomes extremely difficult on their fuel economy, and creates a lot of noise and vibrations. In situations like these, marine gensets are considered as a perfect addition to a marine vessel.

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As modern marine gensets are highly compact, this adds up in the growth of this market. Generally, marine gensets are bought after calculating the total power requirement of all equipment onboard. After that marine gensets which provides at least 20% higher power is selected. Moreover, these gensets can be cooled with the help of water in order to provide highest performance efficiency.

Developing Regions to Charge Higher Demand for Marine Gensets

Demand for marine gensets is considerably high in Asia Pacific region, as the countries in this region are growing rapidly. Developing countries such as China, Japan, and South Korea has require higher number of marine gensets due to the advancements taking place in the shipbuilding industry. In addition, rising demand for natural gas in these countries has increased at a rapid rate further driving the demand for gas carrier vessels. Apart from developing countries, there is a high demand for marine gensets in developed countries as well. Among the developed economies, Europe is expected to rise contribute substantially in this market.

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Marine Gensets Market : The study highlights current market trends and provides the forecast 2025

Global Marine Gensets Market: Snapshot

Providing enough power to all devices and equipment aboard a ship can be a challenging task today. The sheer amount of power consumption made on a daily basis on land or on sea is creating the need for supplementary power generation methods as well as power conservation methods. One of the way to provide the said supplementary power on a ship is through the use of a marine genset. The problem is further complicated on ships and other marine vehicles if they are away from land for long durations. While vessel operators commonly resort to running their main engines to constantly fuel the vessel’s AC and DC systems, this can be extremely taxing on their fuel economy, as well as create a lot of vibrations and noise. This is where marine gensets can become the perfect addition to a marine vessel.

One of the key advantages that modern marine gensets can provide is being highly compact. While larger capacity gensets can take up significant amount of deck space, the smaller ones do not need a lot of space. The appropriate marine genset can be purchased by calculating the total power requirement of all equipment on board and then selecting a genset that provides an output roughly 20 percent higher than that. Marine gensets can also be water cooled in order to enhance their peak performance efficiency.

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Marine Gensets Market: Overview 

Marine gensets are supplementary power units that supply electricity to ships. These gensets can be fueled by gas, diesel, hybrid fuel, and others and find application in offshore support vessels, commercial vessels, defense vessels, and pleasure vessels among others. Commercial vessels can include auto carriers, reefers, super tankers, cargo ships, bulk carriers, tankers, and tug boats. Please vessels are those that carry people for recreational or sports purposes and include ocean liners, catamarans, ferries, cruise vessels, and sports and sailing yachts. Defense vessels include guide missile cruisers, frigates, destroyers, police-patrolling and coast-guard vessels, aircraft carriers, mine sweepers, and mine hunters.

The report offers a detailed overview of the marine gensets market and provides sharp insights on the workings of the global as well as regional market. Historical, present, and future trends impacting the performance of the market have been discussed at length in the report. 

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Marine Gensets Market: Key Trends 

Most marine gensets are fueled by diesel and this trend has been observed over the past decade or so. However, the introduction of alternative fuels and natural gas as fuel is likely to impact the diesel segment with marine gensets now turning to these newer power sources. Higher levels of air pollution causing restrictions on the usage of diesel has also hindered its application as a fuel for marine gensets. Nevertheless, marine gensets fueled by diesel offer a host of benefits such as safe storage of fuel, lower cost of maintenance, and longer lifespan of the engine. These advantages spell good news for diesel-fueled marine gensets.

Marine gensets are most often used in commercial vessels owing to rising maritime trade. The growing demand for natural gas, especially in India, South Korea, China, and Japan, has also ensured the increase in gas carrier commercial vessels. 

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Marine Gensets Market: Regional Outlook 

From a geographical point of view, the global market for marine gensets is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. Asia Pacific has been a key contributor toward the overall market and is anticipated to continue doing so over the course of the forecast period. Rapid growth in this region can be attributed to the growth of the ship-building industry in countries such as South Korea, Japan, and China. A steady rise in investments has been observed in these industries and this will result in the demand for marine gensets. Moreover, there has been a rise in gas carrier vessels in these countries owing to the increasing demand for natural gas. It has also been noted that leading companies in the marine gensets market have been expanding their manufacturing units here, in the form of new licenses and plants.

On account of being a mature market, Europe has been witnessing slow growth in the marine gensets market. Factors such as financial hurdles and recession have negatively impacted the demand for new vessels, thereby hitting the demand for marine generator sets. However, taking into consideration the region’s strength in ship building, experts anticipated that the market in Europe will gain momentum over the coming years, driven by a rise in oil and gas exploration activities. 

Companies mentioned in the report

There are a number of global players operating in the marine genset market. These include Mitsubishi Heavy Industries (Japan), Wärtsilä (Finland), MAN Diesel & Turbo SE (Germany), Caterpillar Inc., (U.S.), and Cummins Inc. (U.S.). Recognizing the lucrative strength of developing economies across the globe, companies have been redirecting resources to expand operations into these countries and gain a larger share in the overall marine gensets market.

The report takes into consideration the various strategies adopted by companies in the marine genset market. These include new product development and launch, regional expansions, contracts and agreements, joint ventures, and mergers and acquisitions.

Increasing usage of Mobile Devices to Boost Hardware Encryption Market

San Francisco, California, September 29, 2017: The growing demand for protecting sensitive data on portable devices such as USB flash drives and laptops is propelling the global market for hardware encryption. Its robust protection against numerous less sophisticated and common attacks, consistent performance, and ease of use are generating demand among various industrial sectors. A new report by TMR Research, titled “Hardware Encryption Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” provides a 360 degree assessment of numerous factors affecting the market’s growth trajectory. This study provides projected market values for the global market over the forecast period. Furthermore, the market is segmented according to various categories to deliver a strong understanding of the market. Market shares of these segments and their estimated market values are also included. This report is contrived by extensive research of the market and both primary and secondary sources of information have been considered. The proven methods followed ensure the reliability and accuracy of the data to allow market investors strategize their plans accordingly.

Hardware encryption utilizes device’s on-board security, which enables the desired decryption and encryption. On the contrary to software-based encryption, it has minimal configuration requirements and doesn’t require drivers. The storage of confidential healthcare and financial data in mobile devices and the soaring use of mobile devices by several governmental agencies are bolstering the global market for hardware encryption. Tremendous expansion of the digital content and the rising concerns pertained to the privacy of data and data security are further envisioned to assist the market development. Furthermore, the rising need of regulatory framework and various advantages offered by hardware encryption over the software encryption technology are most likely to accelerate the growth of the overall market over the forecast period.

Although, the lack of awareness among customers regarding the benefits of hardware encryption and the need for high capital investment could restraint the growth, the rising adoption of cloud computing is most likely to help the market sustain its growth. This report sheds on light on several such trends and factors, which could influence the market trajectory either in positive or negative way. This inclusion of drivers and restraints will help the market players explore hidden opportunities and pitfalls present in the market.

On the basis of geography, the global hardware encryption market can be segmented into Asia Pacific, Latin America, North America, the Middle East and Africa, and Europe. Of these, Asia Pacific is most likely to showcase an impressive growth trajectory over the forecast period due to the rapid expansion of the IT industry. Contribution of countries such as South Korea, Malaysia, India, and China is foreseen to fuel the growth of the market within this region. Furthermore, the North America segment is envisioned to grow with a significant rate owing to the presence of large number of the market players. This geographical analysis will explain factors affecting the regional markets, which will allow market investors to invest in the most lucrative region. Present and projected market shares of these key regions and their market values throughout the forecast period have been formulated.

The global market for hardware encryption is anticipated to witness high intensity of competition in the forthcoming years. The prominent players in the market are striving to offer new products in order to maintain their dominant position and increase their market penetration. The publication has included an overall analysis of the competitive landscape of this market. Some of the prominent players in the market include Seagate Technology PLC, Western Digital Corp., Kingston Technology Corp., Winmagic Inc., Thales (E-Security), Kanguru Solutions, Samsung Electronics Co. Ltd., Micron Technology, Inc., Gemalto NV., Toshiba Corp., Maxim Integrated Products, Inc., and Netapp.

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