Europe Marine Propulsion Systems Market Size – By Propulsion (2-Stroke, 4-Stroke), By Product, By Power, By Technology, By Application (Merchant, Offshore, Cruise & Ferry, Navy) & Forecast, 2024 – 2032

Europe Marine Propulsion Systems Market Size – By Propulsion (2-Stroke, 4-Stroke), By Product, By Power, By Technology, By Application (Merchant, Offshore, Cruise & Ferry, Navy) & Forecast, 2024 – 2032

Europe Marine Propulsion Systems Market will witness 2.7% CAGR between 2024 and 2032, driven by rising company deals and contracts in the maritime industry. As shipping companies strive to comply with environmental regulations and improve fuel efficiency, there is a growing need for modern and efficient propulsion systems. Leading marine propulsion system manufacturers are entering into strategic partnerships, collaborations, and contracts with shipbuilders and shipping companies to provide advanced propulsion solutions.

For instance, in April 2024, Europe-based Kongsberg Maritime was chosen by Austal USA to provide its Promas propulsion system for the newest vessel in the United States Coast Guard’s Offshore Patrol Cutter (OPC) Heritage Class program.

These agreements often involve the installation of innovative propulsion systems, such as electric propulsion, hybrid systems, and LNG propulsion, which offer reduced emissions and operational costs. With an increasing number of contracts and deals, the demand for marine propulsion systems in Europe is on the rise, driving growth in the market.

The overall Europe Marine Propulsion Systems Industry is classified based on propulsion, product, power, technology, application, and country.

The steam turbine segment will expand appreciably from 2024 to 2032. Despite the rise of alternative propulsion technologies, steam turbines remain prevalent in various marine vessels, especially large ships and naval vessels. Their robustness, reliability, and high power output make them well-suited for heavy-duty applications. Moreover, advancements in steam turbine design have improved efficiency and reduced emissions, aligning with environmental regulations. With ongoing innovations and upgrades, steam turbines continue to be a popular choice in the European maritime industry, offering efficient and dependable propulsion solutions for a wide range of marine vessels.

Europe marine propulsion systems market share from the 2 stroke segment will register a notable CAGR from 2024 to 2032. These systems, known for their high power-to-weight ratio and efficiency, are commonly used in several marine vessels, including ships, ferries, and offshore platforms. 2-stroke propulsion offers numerous advantages, such as simplicity, compactness, and reliability, making them ideal for demanding marine applications. Additionally, consistent improvements in engine design and technology have improved the performance and environmental credentials of 2-stroke propulsion systems, further fueling their demand in the European maritime industry as shipbuilders and operators seek efficient and sustainable propulsion solutions.

France Marine Propulsion Systems Market will depict a commendable CAGR from 2024 to 2032. The regional maritime industry, centered around ports like Marseille and Le Havre, drives demand for advanced propulsion systems. French shipbuilders and manufacturers, including Naval Group and DCNS, lead the development of innovative marine propulsion technologies. France's focus on sustainable shipping and maritime efficiency further boosts demand for eco-friendly propulsion solutions. With a strong emphasis on research and development, France continues to contribute significantly to the advancement of marine propulsion systems in Europe, ensuring the country's prominent position in the European marine propulsion market.