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 Marine Engines Market
Posted on : Thursday, 14 November, 2019  08:43
Location : Pune, Maharashtra 411051, India., Prokhladny, Kabardino-Balkar Republic
Phone Number# : 09607365656
URL : https://www.maximizemarketresearch.com/market-report/marine-engines-market/11261/

Marine Engines Market is estimated to surpass $ 11.04 Billion marks in 2019 and reach USD 14.89 Billion by 2024, at a Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period 2016-2024 globally. Marine Engines Market is set to witness an appreciable growth subject to growing trade activities and positive outlook toward maritime industry. In 2016, a rise in container trade contributed over 23% of the global seaborne trade. According to a UNCTAD report, in 2016 world seaborne trade volumes expanded by 2.6% as compared to 1.8% in 2015. However, more than 80% of the seaborne trade majorly contributes to carbon emissions. Expanding tourism industry driven by improvement in the standard of living, a rise in disposable incomes, and demographic changes will stimulate the global marine engines market size. As per the World Travel & Tourism Council in 2016, maritime tourism was the highest revenue generating segment and accounted for 10.2% of the global GDP and generated USD 7.6 trillion.

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