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Marine Engine Monitoring System Market 2019-2023 | Evolving Opportunities with ABB and Caterpillar | Technavio

November 13, 2019 GMT
Marine Engine Monitoring System Market 2019-2023 | Evolving Opportunities with ABB and Caterpillar | Technavio
Marine Engine Monitoring System Market 2019-2023 | Evolving Opportunities with ABB and Caterpillar | Technavio

LONDON--(BUSINESS WIRE)--Nov 13, 2019--

The global marine engine monitoring system market is poised to grow by USD 98.52 million during 2019-2023, progressing at a CAGR of over 3% during the forecast period. Request Free Sample Pages

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Technavio has announced its latest market research report titled global marine engine monitoring system market 2019-2023. (Graphic: Business Wire)

Read the 124-page research report with TOC on “Marine Engine Monitoring System Market Analysis Report by application (propulsion and auxiliary), geography (APAC, EMEA, and Americas), and Segment Forecasts, 2019 - 2023”

The market is driven by the growing number of naval vessels. In addition, the inception of smart marine engine monitoring systems is anticipated to further boost the growth of the marine engine monitoring system market.

The increasing number of naval vessels will be one of the major drivers in the global marine engine monitoring system market. Many nations are concentrating on sea-based defense and maritime security which propels defense globalization and increases the number of naval vessels. Moreover, the growth of the naval industry in developed countries and emerging economies are also expected to be balanced and sustainable. This will assist in fostering the demand for marine engines and will drive the market for its monitoring systems.

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Major Five Marine Engine Monitoring System Market Companies:

ABB

ABB owns and operates businesses under various segments such as electrification products, robotics and motion, industrial automation, and power grids. The company offers Marine Engine Monitoring System – AMCS500SS, Auxiliary Engine Safety Solutions – SS500SS, and Electronic Governors – DEGO III.

Caterpillar

Caterpillar operates business under four segments, which include construction industries, energy and transportation, resource industries, and financial products. The company offers CAT ASSET INTELLIGENCE which is a marine engine monitoring system.

Emerson Electric

Emerson Electric has business operations under various segments, namely automation solutions, and commercial and residential solutions. The company offers auxiliary measurement systems and integrated control and monitoring systems.

Kongsberg Group

Kongsberg Group operates business under three segments, which include Kongsberg Defence & Aerospace, Kongsberg Maritime, and Other. The company’s key offerings include KONGSBERG Engine Monitoring Systems. They consist of bearing wear and bearing temperature monitoring of crank-train bearings, water in oil, cylinder liner temperature and shaft power monitoring.

Siemens

Siemens business includes segments: power and gas, energy management, building technologies, mobility, digital factory, process industries and drives, healthineers, siemens gamesa renewable energy, and financial services (SFS). The company offers Integrated Monitoring, Alarm, and Control System (IMAC).

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Marine Engine Monitoring System Application Outlook (Revenue, USD Million, 2019 - 2023)

Marine Engine Monitoring System Regional Outlook (Revenue, USD Million, 2019 - 2023)

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

Related Reports on Industrials are:

Marine VFD Market – Global Marine VFD Market by type (AC drive and DC drive) and geography (APAC, Europe, MEA, North America, and South America).

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View source version on businesswire.com:https://www.businesswire.com/news/home/20191113005321/en/

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KEYWORD:

INDUSTRY KEYWORD: HARDWARE MARITIME TRANSPORT TECHNOLOGY SOFTWARE

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 11/13/2019 06:00 AM/DISC: 11/13/2019 06:00 AM

http://www.businesswire.com/news/home/20191113005321/en