Dual fuel engines make use of both natural gas and diesel or gasoline simultaneously as a fuel source to operate. Among the two types of fuel, natural gas is used the most (accounting for 90% of the overall fuel mix). Diesel merely serves as a spark plug, which ignites under pressure and, in turn, ignites the compressed gas and air mixture. Retaining the use of diesel, ensures that the fuel, its compression ratio, and associated efficiency remains intact, while the use of natural gas ensures less operating cost as well as low levels of emissions.
In the world wide, the plants of major manufactures mainly distribute in China and Korea, like Wartsila, has a number of plants around the world, particularly in China and Korea, taking a leading share in these areas.
This industry is affected by the economy and policy, so it’s important to put an eye to economic indexes and leaders’ prefer. With the global economic recovery, more and more countries focus on marine ship especially in underdevelopment regions that have fast economic growth and potentially huge marine ship consumption, the need of Dual Fuel Engine will increase.
Over the next five years, LPI(LP Information) projects that Dual Fuel Engine will register a 9.5% CAGR in terms of revenue, reach US$ 1190 million by 2023, from US$ 690 million in 2017.
This report studies the global market, especially in North America, Europe, Asia-Pacific, South America, Middle East and Africa, focuses on the top 5 players in each region, with sales, price, revenue and market share from 2013 to 2018, the top players:
Market Segment by Regions, this report splits Global into several key Regions, with sales, revenue, market share of top players in these regions, from 2013 to 2018 (forecast), like
- North America (United States, Canada and Mexico)
- Asia-Pacific (China, Japan, Southeast Asia, India and Korea)
- Europe (Germany, UK, France, Italy and Russia etc.)
- South America (Brazil, Chile, Peru and Argentina)
- Middle East and Africa (Egypt, South Africa, Saudi Arabia)
Split by Product Types, with sales, revenue, price, market share of each type, can be divided into
- Four-Stroke Dual Fuel Engine
- Two-Stroke Dual Fuel Engine
Split by applications, this report focuses on sales, market share and growth rate in each application, can be divided into
- Cargo Ship
- Cruise Ship
- Others