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.
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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