Global Yacht Engine Market 2020-2025

August 11, 2020
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GLOBAL YACHT ENGINE MARKET

INTRODUCTION

Yachts need lot less power to move on water as compared to cars on land. For comparison, as a rule of thumb, 3hp per tonne of displacement, is sufficient to move a yacht whereas a minimum 70hp per tonne is required for an entry level car.

 

MARKET DYNAMICS

The average power of yacht engines has been steadily increasing in recent years.  The yacht manufacturers typically equip their products with higher output engines so that they run at lower revs, being more economical and suited for long distance cruising

 

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All yacht builders rely on a handful of European engine manufacturers for yacht propulsion solution. Sometimes the agreement or partnership can extend for multiple years and platforms. For example, In Oct 2018 Britain based Sunseeker signed a new framework agreement for the supply of MTU Series 2000 and 4000 engines for its 86Y, 95Y, 116Y, 131Y range of yachts.

Dual engine propulsion are very common on yachts over 40ft in length but Azimut raised the bar when Azimut S6 was launched in Dec 2019 with triple propulsion Volvo Penta IPS 700 system. The inherent advantages of triple propulsion units are improved fuel efficiency, reducing noise and vibrations.

 

ELECTRIFICATION IN YACHT ENGINE MARKET

Although, much of the market is still captured by Diesel engines, electric propulsion is also catching up thick and fast. For example,

Jan 2020-Germany based Torqeedo signed an agreement with Netherlands based Waterworld to distribute inboard electric motors in Europe.

June 2020– New Zealand based waterjet manufacturer Hamilton unveiled its new EHX range, Electro-Hybrid Drive.

July 2019– Volvo Penta signed a partnership with ABB, and the University of Chalmers to study solutions for rapid charging of dockside vessels

Sep 2018– MAN debuted V12-2000 and V8-1300 marine engines at the 2018 Cannes Yachting Festival

June 2018– Volvo Penta unveiled its first adaptive electric hybrid engine on the counter-rotating IPS engines with market launch planned for 2020-2021

 

MARKET SIZE AND FORECAST

The global yacht engine market is estimated at $XX Million in 2020, growing at 4.1% CAGR till 2025

 

NEW PRODUCT LAUNCHES

Aug 2020: Scania launched two all new marine engines in the US aimed at Cruising yacht market. The two diesel engines have power output of 900hp and 1150 hp respectively

June 2019– Volvo Penta launched D4 and D6 engines, with 3.7L and 5.5L displacement respectively with power output range of 150-480hp

 

COMPETITIIVE LANDSCAPE

Volvo Penta is among the global market leaders in yacht engine market. Till date it has sold more than 105,000 units worldwide. Volvo Penta is also among the biggest innovators with latest generation engines featuring Diamond Like Carbon (DLC) coating on the piston pin to reduce friction and increase durability. The common rail fuel injection system has higher pressure – 2,000 bar at par with automotive engines.

In July 2020, Invictus yacht launched a new TT460 model powered by Volvo Penta`s D6 IPS package.

In Jan 2020, Italian Yacht builder Cranchi unveiled its biggest 78 foot yacht powered by Volvo Penta D13-IPS1350 and North American builder Palm Beach Motor yachts showcased GT60 with the twin Volvo Penta IPS 1350s.

Rolls Royce owned MTU is also one of the leading yacht engine manufacturer. It is now offering integrated bridge systems – MTU Smart Bridge – for both series production yachts and mega yachts. It has developed integrated solution for IMO 3 consisting of propulsion system and SCR exhaust gas aftertreatment system which are optimally matched, designed for flexible installation and low on maintenance. 

In Sep 2019, MTU said it will gradually introduce a range of completely integrated and modular MTU hybrid marine propulsion systems for production yachts with a power range extending from approximately 1000 kW to 4000 kW per powertrain. 

YANMAR MARINE INTERNATIONAL is introduced its new 6LF and 6LT series of marine diesel engines in Jan 2020. Yanmar now offers a complete propulsion package including engine, ZF transmission, and VC20 vessel control system.

 

COMPANY PROFILES

  1. Volvo Penta
  2. Scania
  3. Cummins
  4. MTU
  5. MAN
  6. Torqeedo
  7. Yanmar Marine International
  8. Bukh
  9. Steyr Motors
  10. Caterpillar

 

Sl noTopic
1Market Segmentation
2Scope of the report
3Abbreviations
4Research Methodology
5Executive Summary
6Introduction
7Insights from Industry stakeholders
8Cost breakdown of Product by sub-components and average profit margin
9Disruptive innovation in the Industry
10Technology trends in the Industry
11Consumer trends in the industry
12Recent Production Milestones
13Component Manufacturing in US, EU and China
14COVID-19 impact on overall market
15COVID-19 impact on Production of components
16COVID-19 impact on Point of sale
17Market Segmentation, Dynamics and Forecast by Geography, 2020-2025
18Market Segmentation, Dynamics and Forecast by Product Type, 2020-2025
19Market Segmentation, Dynamics and Forecast by Application, 2020-2025
20Market Segmentation, Dynamics and Forecast by End use, 2020-2025
21Product installation rate by OEM, 2020
22Incline/Decline in Average B-2-B selling price in past 5 years
23Competition from substitute products
24Gross margin and average profitability of suppliers
25New product development in past 12 months
26M&A in past 12 months
27Growth strategy of leading players
28Market share of vendors, 2020
29Company Profiles
30Unmet needs and opportunity for new suppliers
31Conclusion
32Appendix

 

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