Marine Propulsion Engine Market to Hit US$13.3 Billion by 2024 : Lukoil, Siemens, Volvo, Aegean Airlines, BP, Caterpillar, Chevron, Cummins, ExxonMobil, Ingeteam S.A.
As per the report, APAC marine propulsion engine market size is estimated to register a CAGR of 4.8% over 2016-2024. China and South Korea are projected to be the major growth avenues. Asia Pacific held a considerable share in the marine propulsion engine market in 2015 and had a valuation of USD 4.5 billion. Rising investments in R&D, technological developments, and government initiatives towards adoption of clean energy are some of the factors anticipated to fuel APAC market demand.
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