Summary

Market Overview
The Asia, Latin America and Middle East marine generator set market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% within the forecast period (2022-2029).
A marine generator set, also known as a marine genset, is a generator specifically designed and built for use on boats and ships. It provides electrical power for the vessel's lighting, navigation and other onboard systems. Marine gensets are typically powered by diesel engines but can also be powered by gasoline or other fuels. They are designed to withstand the harsh marine environment, including exposure to saltwater and vibration.
Using a marine generator set (genset) on a boat or ship has several advantages, boosting the product's market share. For instance, in marine gensets, reliability is built to withstand the harsh marine environment, including exposure to saltwater, vibration and extreme temperatures. Furthermore, power independence in a marine genset allows a boat or ship to generate its electricity, making it independent of shore-based power sources; this is particularly useful for vessels that operate in remote areas.
The flexibility of marine gensets can be used to power a wide range of onboard systems, including lighting, navigation and communication equipment. They can also be used as a backup power source in an emergency. Furthermore, modern marine gen sets fuel efficiency is designed to be fuel efficient, which can help reduce operating costs for the vessel.
Market Dynamics
The tremendous demand for marine generator set in China has created huge growth prospects for the market to grow in the forecast period.
Tremendous demand for marine generator set in China has created huge growth prospects for the market to grow in the forecast period
The China marine generator set market was 1964 Units in 2018 and reached 2223 Units by 2020. Marine generators power everything from simple kitchen appliances to electric propulsion systems on various ships. A boat's battery will not be enough to run important applications that demand a lot of electricity, such as air conditioners, refrigerators or water heaters, creating immense demand for generators in the marine industry.
In addition, the overall income of the Chinese shipbuilding sector was roughly US$ 56.18 Billion (394.77 billion Yuan) from January to November 2019, which was up 11.9% higher than in 2018. The rising shipbuilding industry has positively impacted the growth of marine generators recently.
In China, there were 1,052 firms over the designated size in the shipbuilding industry in 2019, including shipyards, equipment suppliers and other companies primarily involved in shipbuilding. However, in recent years, the number of enterprises involved in the Chinese shipbuilding sector has decreased.
Furthermore, China has a list of shipping companies, including China Ocean Shipping (Group) Company (COSCO), China Merchant's Orient Overseas Container Line, Parakou Shipping and others. The country has a strong backbone for importing and exporting products to different regions of the ports, which has tremendously accelerated the demand for marine generators in the countries.
Furthermore, China holds major shipbuilding players such as China Shipbuilding Industry Corporation, China State Shipbuilding Corporation, Dalian Shipbuilding Industry Company, COMEC (company) and others responsible for boosting the demand for generators required in various applications in shipbuilding industries.
High cost of marine generator set hurdles to the market growth of the product
The cost of a marine generator set (genset) can vary widely depending on several factors, including the size of the genset, the type of engine and alternator used and the features and options included. For a small recreational boat, the cost of a marine genset can range from a few thousand dollars to US$ 10,000 or more, while for a larger commercial vessel, the cost can reach hundreds of thousands of dollars.
Furthermore, the cost is not only limited to the genset itself but also includes installation and maintenance costs, which hurdles the market growth for the product.
COVID-19 Impact Analysis
The outbreak of COVID-19 has significantly impacted the marine generator set (genset) market. The pandemic has caused widespread economic disruption, leading to a slowdown in global trade and a decrease in demand for marine gensets. The outbreak has caused disruptions in the supply chain for marine gensets, leading to delays and increased costs for manufacturers and suppliers.
Furthermore, the pandemic has decreased demand for marine gensets, as many commercial vessels have been idled and recreational boating activities have been curtailed. Thus, due to lower demand, many marine genset manufacturers have had to decrease production and sales, further impacting the industry.
However, the marine genset market is expected to recover as the economies recover and trade starts to pick up again. The market is projected to grow in the medium to long term. The situation and impact of COVID-19 are constantly changing, so it is important to stay up-to-date with the latest developments in the forecast period.
Segment Analysis
Asia, Latin America and Middle East marine generator set market is segmented by engine power and region.
Marine generators with 0-50kW power are built to withstand severe and damp conditions observed on a boat when a regular generator would fail
Based on engine power, Asia, Latin America and Middle East marine generator set market is segmented into 0 - 50 kW, 50 - 150 kW, 150 - 300 kW, 300 - 500 kW, 500 - 700 kW, 700 - 1000 kW, 1000 - 1200 kW, 1200 - 1500 kW and 1500 - 2000 kW. 0-50 kW has shown significant growth and is expected to maintain momentum in the forecast period. A marine generator is a type of generator that converts mechanical energy (typically diesel or gasoline) into electrical energy and is found on larger boats. The electrical energy is subsequently used to run the boat's machinery and other appliances.
Marine generators are built to withstand severe and damp conditions observed on a boat when a regular generator fails. On the surface, this necessitates various design strategies and on the inside, it necessitates alternate components. Many marine generators include hydraulic pump systems, are made of more durable materials, have H-Class insulation and other features that make them more efficient on a boat.
Marine generators power everything from simple kitchen appliances to electric propulsion systems on various ships. A boat's battery will not be enough to run important applications that demand much electricity, such as air conditioners, refrigerators or water heaters.
Every marine generator is either gasoline or diesel-fueled. One should pay particular attention to voltage regulation while purchasing a new marine generator. Generators of 20 kW or less typically power single-phase motors.
Suppose there are any serious appliances on the boat, such as an air conditioner, a refrigerator or a combination of smaller appliances. In that case, one needs more energy than your cell can provide and the job calls for a marine generator. If the right size generator is selected, it will power all gadgets without placing more strain on the boat's battery.
A small marine generator can also help charge the phone for assistance or charge the battery if your boat breaks down on the water. A genset may be impossible to install on a boat smaller than 30 feet long. A portable marine generator may be your only alternative in these situations.
Geographical Analysis
The moderately growing industry is creating immense opportunities for marine generators in the Japanese market in the recent period
Asia has shown tremendous growth in the marine generator set market due to the presence of countries like China, Japan, Singapore, Indonesia, Vietnam and South Korea. Japan was the world's leading shipbuilding nation between 1944-1957 period. Japan has constantly ranked first in the world regarding new ship tonnage built since that period. Japan generated over half of all new ship tonnage globally from the 1960s through the 1980s. While it still ranks first, it now generates approximately 38% of the world's total and competes for first position with South Korea.
Japan now produces roughly 20% of global output, ranking third behind China and Korea. Bulk carriers account for the majority of Japanese orders. Although shipbuilding sales do not account for a large portion of Japan's GDP, the industry's linkages to other domestic businesses make it important. As a result, it obtains government assistance in advice, credits and advantageous policies.
In 2020, the Japanese shipbuilding industry completed ships with a combined gross tonnage (gt) of approximately 12.94 million. The mentioned numbers reduced the previous year's figure to roughly 16.22 million gt. Furthermore, orders for ships with a combined gross tonnage (gt) of around 3.7 million were placed with the Japanese shipbuilding industry in 2020. It was a reduction from the previous year's figure of roughly 7.82 million gt.
The shipbuilding industry in Japan is growing moderately, with some significant reductions in the overall market share, particularly in the year 2020 due to the global outbreak of coronavirus. The moderately growing industry is recently creating immense opportunities for marine generators in the Japanese market.
Competitive Landscape
The Asia, Latin America and Middle East marine generator set market is highly competitive with local and global key players. The key players contributing to the market's growth are Caterpillar, Cummins Inc, SOLÉ DIESEL, Anglo Belgian Corporation NV, Gruppi Elettrogeni COELMO, GPC Co. Ltd., yusinHR, DEMCO, Mase Generators of North America, LLC, Mitsubishi Heavy Industries Group, ABB, Volvo Penta, Weichai Holding Group Co. Ltd., Kohler Power Co.among others.
The major companies are adopting several growth strategies, such as product launches, acquisitions and collaborations, contributing to the Asia, Latin America and Middle East marine generator set market.
• On June 24, 2021, Caterpillar Inc. announced the addition of twelve new models to the company’s rapidly expanding series of Cat GC diesel generator sets for stationary standby applications, which is principally targeted at the global electrical contractor market. Moreover, the new Cat GC diesel generator sets targeted for Africa, Europe, the Middle East, South America, CIS and the Asia-Pacific include an additional six from 350 to 600 kW for 60 Hz applications, as well as six models with power ratings from 450 to 715 kVA for 50 Hz applications.
• On February 14, 2019, Cummins Inc. unveiled its new ignition-protected 7.5 kilowatts (kW) Onan marine generator during the 2019 Miami International Boat Show. The MDKBJ Onan marine generator satisfies U.S. Coast Guard 33 CFR183 specifications and is approved by U.S. Environmental Protection Agency (EPA) Tier 3 emission norms.
SOLÉ DIESEL
Overview: Solé Diesel marine engines are distinguished by their robustness, durability & reliability. In addition, the company works with industry-growing suppliers such as Kubota, Deutz and Mitsubishi, with whom they maintain 30 years of business relationships. The company produces a broad range of marine gensets for boats, known for its compact design and low-noise performance. The company's marine gensets are flexible to multiple settings and applications. They can be customized depending on the customer’s requirements. The company also offers a wide range of accessories, from the engine to the propulsion line, which transforms consumer equipment into a complete solution for customer needs. The company's engineering department constantly works to innovate its products to adapt them to current market demands.
Product Portfolio: Solé Diesel generator 7 GS/GSC for boats: The 7 GS/GSC is a 6,60 kVA - 6,60 kW single-phase marine Genset, constructed on a Solé Diesel MINI-26 engine at 50 Hz and 1.500 rpm. The marine Genset is suitable for those leisure boats, demanding a small, compact and powerful unit to offer the necessary power to the boat. It is also available with an aluminum alloy sound shield (canopy) for noiseless navigation for the most demanding sailors; also, a broad range of kits is available for more complex configurations and synchronism for parallel operation.
Key Development
• On November 05, 2020, Solé Diesel launched two new marine generator models: 165 GTC and 45 GT, available with acoustic isolation canopy and at 60 Hz and 1800 rpm: 180 GTA/GTAC and 54 GTA/GTAC. With these two new models, the company expands the marine generator range and enhances the available power. The Solé Diesel generators offer extremely low noise & vibration levels, compactness and high-quality materials.
Why Purchase the Report?
• Visualize Asia, Latin America and Middle East marine generator set market segmentation by engine power and region, highlighting key commercial assets and players.
• Identify commercial opportunities in Asia, Latin America and Middle East marine generator set market by analyzing trends and co-development deals.
• Excel data sheet with thousands of Asia, Latin America and Middle East marine generator set market-level 4/5 segmentation points.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players
Asia, Latin America and Middle East marine generator set market report would provide approximately 42 market data tables,34 figures and 201 pages.
Target Audience 2022
• Service Providers/ Buyers
• Residential
• Research Laboratory
• Restaurant Business
• Energy & Utilities Companies
• Distributors

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