How Big is the Ship Engine Market | Industry Trends & Forecast 2025

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Code: MTA8919

Publication Date: Sep 2025

How Big is the Ship Engine Market?

According to 6Wresearch internal database and industry insights, the Ship Engine Market was estimated at USD 14.5 billion in 2024 and is projected to reach USD 22.8 billion by 2031, expanding at a CAGR of 6.5% during the forecast period 2025-2031.

The rising demand for fuel-efficient marine engines, growth in international trade, and increasing need for advanced propulsion systems in naval and commercial vessels, along with technological innovations and supportive regulations for cleaner maritime operations are driving market growth.

Key Growth Drivers of the Ship Engine Market

The demand is rising for fuel-efficient and low-emission marine propulsion solutions
Increasing investments in naval defense modernization programs
Expansion of international shipping and maritime trade routes
Advancements in dual-fuel and hybrid marine engine technologies
Shift towards sustainable and cleaner maritime transportation

Ship Engine Market Trends

Ship Engine Market is witnessing major growth with notable trends such as rising adoption of LNG-based engines and dual-fuel systems in commercial vessels. The shift towards hybrid and electric marine propulsion solutions is gaining momentum to enhance fuel efficiency and reduce emissions. In addition, manufacturers are focusing on compact, lightweight designs to optimize vessel performance. Smart engine monitoring and digitalized propulsion systems are increasingly being integrated into fleets. The surge in demand for engines suitable for bulk carriers, container ships, and naval ships is further supporting expansion of this market.

Emerging Developments in the Ship Engine Market

Ship Engine Market is set to accelerate through continuous advancements in low-sulfur fuel and LNG-compatible engines. Increasing research and development efforts in hydrogen and ammonia-powered propulsion systems are being noticed as part of future-ready solutions. The market is also experiencing growth in partnerships between shipbuilders and propulsion technology providers. Further, expansion of port infrastructure and emphasis on sustainable shipping corridors are boosting adoption of next-generation ship engines. Rising focus on energy storage integration and battery-powered auxiliary engines is adding new opportunities for this market.