Global Marine Methanol Engine Market Research Report 2024
Published on: 2024-01-04 | No of Pages : 400 | Industry : Latest Trends
Publisher : MRA | Format : PDF
Global Marine Methanol Engine Market Research Report 2024
According to MRA Research’s new survey, global Marine Methanol Engine market is projected to reach US$ million in 2033, increasing from US$ million in 2023, with the CAGR of % during the period of 2023 to 2033. Influencing issues, such as economy environments, COVID-19 and Russia-Ukraine War, have led to great market fluctuations in the past few years and are considered comprehensively in the whole Marine Methanol Engine market research.
Methanol fuel has the advantages of low emission and high energy efficiency, so it is regarded as an environmentally friendly marine fuel that can replace LNG. In the past, due to the difficulty in the source of methanol, and the low ignition point of methanol, the consumption of methanol is three times that of fuel oil, which will occupy a large storage space on the ship and affect the loading capacity of the ship. Moreover, the price of methanol is about 50% higher than that of LNG. Therefore, the original methanol Fuel is not favored. With the increase in natural gas production in recent years, the production cost of methanol is falling. In addition, thanks to the development of nitrogen oxide reduction technology, the "disadvantages" of methanol compared with LNG have been reduced; on the contrary, the disadvantages of high-pressure and ultra-low temperature maintenance equipment required for the use of LNG are becoming prominent. Because methanol can maintain a liquid state at normal atmospheric pressure and normal temperature, it does not require low-temperature equipment, and it is easy to store and transport safely. It can be used after a simple modification of the existing fuel supply-related infrastructure in ports and ships. Methanol-fueled ships are simpler and cheaper to build new than LNG. As the "heart" of the ship, the engine provides a steady stream of power output for the normal navigation of the ship. Therefore, to promote methanol as a marine fuel, the focus is on the development of marine methanol engines. Efficient, environmentally friendly, and reliable methanol engines are the key to realizing the large-scale application of methanol fuel in ships in the future. At present, the methanol engine market is still in its infancy, and there are very few commercial manufacturers.
Report Scope
This report, based on historical analysis (2018-2023) and forecast calculation (2023-2033), aims to help readers to get a comprehensive understanding of global Marine Methanol Engine market with multiple angles, which provides sufficient supports to readers’ strategy and decision making.
Wärtsilä
MAN Energy Solutions
WinGD
MTU
Segment by Type
Two Stroke Engine
Four Stroke Engine
Chemical Tanker
Oil Tanker
Other
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Southeast Asia
Latin America
Mexico
Brazil
Argentina
Colombia
Middle East & Africa
Turkey
Saudi Arabia
UAE
The Marine Methanol Engine report covers below items
Chapter 1Product Basic Information (Definition, Type and Application)
Chapter 2Manufacturers’ Competition Patterns
Chapter 3Country Level Sales Analysis
Chapter 4Product Type Analysis
Chapter 5Product Application Analysis
Chapter 6Manufacturers’ Outline
Chapter 7Industry Chain, Market Channel and Customer Analysis
Chapter 8Market Opportunities and Challenges
Chapter 9Market Conclusions
Chapter 10Research Methodology and Data Source
Methanol fuel has the advantages of low emission and high energy efficiency, so it is regarded as an environmentally friendly marine fuel that can replace LNG. In the past, due to the difficulty in the source of methanol, and the low ignition point of methanol, the consumption of methanol is three times that of fuel oil, which will occupy a large storage space on the ship and affect the loading capacity of the ship. Moreover, the price of methanol is about 50% higher than that of LNG. Therefore, the original methanol Fuel is not favored. With the increase in natural gas production in recent years, the production cost of methanol is falling. In addition, thanks to the development of nitrogen oxide reduction technology, the "disadvantages" of methanol compared with LNG have been reduced; on the contrary, the disadvantages of high-pressure and ultra-low temperature maintenance equipment required for the use of LNG are becoming prominent. Because methanol can maintain a liquid state at normal atmospheric pressure and normal temperature, it does not require low-temperature equipment, and it is easy to store and transport safely. It can be used after a simple modification of the existing fuel supply-related infrastructure in ports and ships. Methanol-fueled ships are simpler and cheaper to build new than LNG. As the "heart" of the ship, the engine provides a steady stream of power output for the normal navigation of the ship. Therefore, to promote methanol as a marine fuel, the focus is on the development of marine methanol engines. Efficient, environmentally friendly, and reliable methanol engines are the key to realizing the large-scale application of methanol fuel in ships in the future. At present, the methanol engine market is still in its infancy, and there are very few commercial manufacturers.
Report Scope
This report, based on historical analysis (2018-2023) and forecast calculation (2023-2033), aims to help readers to get a comprehensive understanding of global Marine Methanol Engine market with multiple angles, which provides sufficient supports to readers’ strategy and decision making.
By Company
Wärtsilä
MAN Energy Solutions
WinGD
MTU
Segment by Type
Two Stroke Engine
Four Stroke Engine
Segment by Application
Chemical Tanker
Oil Tanker
Other
Consumption by Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Southeast Asia
Latin America
Mexico
Brazil
Argentina
Colombia
Middle East & Africa
Turkey
Saudi Arabia
UAE
The Marine Methanol Engine report covers below items
Chapter 1Product Basic Information (Definition, Type and Application)
Chapter 2Manufacturers’ Competition Patterns
Chapter 3Country Level Sales Analysis
Chapter 4Product Type Analysis
Chapter 5Product Application Analysis
Chapter 6Manufacturers’ Outline
Chapter 7Industry Chain, Market Channel and Customer Analysis
Chapter 8Market Opportunities and Challenges
Chapter 9Market Conclusions
Chapter 10Research Methodology and Data Source