LONDON--(BUSINESS WIRE)--The global marine engine monitoring system market is poised to grow by USD 98.52 million during 2019-2023, progressing at a CAGR of over 3% during the forecast period. Request Free Sample Pages
Read the 124-page research report with TOC on "Marine Engine Monitoring System Market Analysis Report by application (propulsion and auxiliary), geography (APAC, EMEA, and Americas), and Segment Forecasts, 2019 - 2023"
The market is driven by the growing number of naval vessels. In addition, the inception of smart marine engine monitoring systems is anticipated to further boost the growth of the marine engine monitoring system market.
The increasing number of naval vessels will be one of the major drivers in the global marine engine monitoring system market. Many nations are concentrating on sea-based defense and maritime security which propels defense globalization and increases the number of naval vessels. Moreover, the growth of the naval industry in developed countries and emerging economies are also expected to be balanced and sustainable. This will assist in fostering the demand for marine engines and will drive the market for its monitoring systems.
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Major Five Marine Engine Monitoring System Market Companies:
ABB
ABB owns and operates businesses under various segments such as electrification products, robotics and motion, industrial automation, and power grids. The company offers Marine Engine Monitoring System – AMCS500SS, Auxiliary Engine Safety Solutions – SS500SS, and Electronic Governors – DEGO III.
Caterpillar
Caterpillar operates business under four segments, which include construction industries, energy and transportation, resource industries, and financial products. The company offers CAT ASSET INTELLIGENCE which is a marine engine monitoring system.
Emerson Electric
Emerson Electric has business operations under various segments, namely automation solutions, and commercial and residential solutions. The company offers auxiliary measurement systems and integrated control and monitoring systems.
Kongsberg Group
Kongsberg Group operates business under three segments, which include Kongsberg Defence & Aerospace, Kongsberg Maritime, and Other. The company’s key offerings include KONGSBERG Engine Monitoring Systems. They consist of bearing wear and bearing temperature monitoring of crank-train bearings, water in oil, cylinder liner temperature and shaft power monitoring.
Siemens
Siemens business includes segments: power and gas, energy management, building technologies, mobility, digital factory, process industries and drives, healthineers, siemens gamesa renewable energy, and financial services (SFS). The company offers Integrated Monitoring, Alarm, and Control System (IMAC).
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Marine Engine Monitoring System Application Outlook (Revenue, USD Million, 2019 - 2023)
- Propulsion
- Auxiliary
Marine Engine Monitoring System Regional Outlook (Revenue, USD Million, 2019 - 2023)
- APAC
- EMEA
- Americas
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