Farmington, May 10, 2023 (GLOBE NEWSWIRE) — The Global Variable Valve Timing (VVT) system in the marine engine market The size was valued at $38.89 billion in 2022 and is projected to reach $59.68 billion by 2030, growing at a CAGR of 5.50% from 2023 to 2030. Variable valve timing is especially crucial in marine engines, where speed is essential to quickly launch a boat.
The market is expanding due to increased demand for high-powered marine engines and increased sales of recreational boats and autonomous submarines. (AUV). Based on engine type, the global variable valve timing VVT system market for marine engines is segmented into low-power marine engines, mid-power marine engines, and high-power marine engines. The mid-power marine engine segment is expected to grow faster than other segments during the forecast period. This may be the result of increased demand for mid-range powerboats in many regions. Depending on the intended use, small recreational boats are likely to hold a significant share of this market between 2022 and 2030. This is due to their growing popularity among consumers in various regions.
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Segmentation Overview:
By type:
- Boat engines with low power
Propulsion for boats and ships is provided by marine engines which are not particularly powerful. The ship’s engine is an essential component, regardless of whether it is a passenger ship, a cruise ship or a luxury yacht, because it propels the ship. There are two varieties of low power marine engines: diesel and gas turbine. The growth of the VVT system in the marine engine market depends on various factors such as the need for replacements, technological advancements, fuel prices, and environmental regulations.
- Marine engines with medium power output
In valve timing alteration devices, marine engines with a medium power output are used. By opening and closing various valves at the right times, the VVT system controls and manages the amount of exhaust gas leaving the engine compartment. It also serves to reduce back pressure, which reduces fuel consumption and increases engine power.
- Boat engines that put out a lot of power
High-horsepower marine engines produce more power than low-horsepower ones. They are used by larger ships such as cruise ships and oil tankers. These engines tend to use more oil and require more maintenance.
Regional analysis:
Europe was the largest regional market in terms of revenue share in 2019, and its dominance is expected to persist throughout the forecast period. The region is experiencing an increase in demand for variable valve timing systems in the recreational boating industry as electric power boats become increasingly popular. Growing interest in reducing harmful emissions and the adoption of clean ocean technologies are also fueling demand for regional products.
Due to the increasing penetration of low-cost and high-performance VVT systems in large commercial vessels such as bulk carriers, container ships, cruise ships, etc., especially in developing countries such as China and India, it is expected that the Asia Pacific is one. of the fastest growing markets with a CAGR of over 6% during the forecast period. Additionally, favorable government regulations designed to encourage investment through foreign direct investment (FDI) are expected to drive market expansion over the next seven years.
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Scope of the report:
| Report attributes | Details |
| Growth index | CAGR of 5.50% from 2023 to 2030. |
| Revenue forecast for 2030 | 59.68 billion dollars |
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| By Application |
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By phase type analysis
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By technology analysis |
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For Valvetrain type analysis |
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| For Companies |
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| Regions and countries covered |
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| base year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast year | 2023 to 2030 |
Market dynamics:
Growth factors:
- In the marine industry, there is a growing demand for fuel-efficient turbines.
- Strict environmental regulations for emission control
- Boats and pleasure boats are gaining popularity.
- Advancement in engine technology and computer controls is substantial.
- Engine manufacturers are investing more in research and development.
Restrictive factors: Use of more electric vehicles (EVs) to slow growth
Traditional vehicles that run on fuel emit more pollution, which is of great concern to government officials. Governments offer tax breaks or subsidies to people who buy electric vehicles (EVs) as a result of the global increase in pollution. Although the coronavirus outbreak led to a 6% drop in global car sales in 2020, the International Energy Agency (IEA) reports that sales of electric vehicles increased by 41% throughout world
Also, because electric vehicles run on batteries, they do not emit carbon or other gases. People who care about the environment are using this mode of transport more and more. This is expected to hold back the IC engine car market for the next few years. The operation of the internal combustion engine (ICE) is directly related to the operation of the variable valve timing (VVT) system, and anything that affects the ICE is likely to hurt this market.
Key segments covered:
Major Market Players:
- Delphi
- dense
- Aisin
- Eaton
- Hitachi Automotive Systems
- others
By type:
- Boat engines with low power
- Marine engines with medium power output
- Boat engines that put out a lot of power
- others
By application:
- Small recreational boats
- Commercial ships on the water
- Autonomous Underwater Vehicle (AUV)
- others
By phase type analysis
- Fasador of hydraulic cams
- Fasador of electric cams
By technology analysis
- cam phase
- cam phase plus shift
For Valvetrain type analysis
- Dual top camera (DOHC)
- Single Camera (SOHC)
Regions and countries covered
- North America: (USA, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, United Kingdom, Nordic countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- Middle East and Africa: (Saudi Arabia, United Arab Emirates, Egypt, South Africa, Rest of the Middle East and Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- The rest of the world
Check out more related studies published by Contrive Datum Insights:
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- Marine Variable Frequency Drive (VFD) Market.–Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Impact of Covid-19, SWOT Analysis, Competition and Forecast 2022-2030
- Marine Biomedicine Market Analysis and Forecast 2023-2030
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