02 March 2020
Visiongain has launched a new report Marine Engine Monitoring System Market Report 2020-2030: Forecasts by Component (Display, Sensor, Controller, Software), by Engine Type (Gas Engine, Diesel Engine, Steam Turbine, Auxillary Engine), by Ship Type (Recreational Ships, Naval, Underwater Naval Ships, Merchant Ships) PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis.
The global Marine Engine Monitoring System market is expected to grow at a lucrative rate during the forecast period. Vessel engine monitoring is necessary to ensure safe and trouble-free passages. Marine engine monitoring systems provide necessary information such as oil pressure, coolant temperature which provides early warning of potential problems in the ships and vessels. Further, recent advancements have made automatic detection possible with the help of programmable alerts and effective user interface systems in place.
Companies are focusing on the development of retrofitted engine monitoring systems for a variety of boats and vessels. Currently, developed systems are compact and accept different input types capable of operating under different situations and applications. Further, the development of monitoring systems with frequent updates is one of the major trends identified in the global marine engine monitoring systems market. Frequent updates include improved configuration software, firmware updates, and improved diagnostic user interface for better information.
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Some of the players such as ABB, AST Group, CMR Group, Caterpillar, Cummins, Emerson Electric, Hyundai Heavy Industries, Jason Marine Group, Kistler Group, Kongsberg Gruppen, Man Diesel & Turbo, Mitsubishi Heavy Industries, Noris Group, Rolls-Royce, and Wartsila are currently dominating the market. These major companies are increasingly focusing on research and development activities so as to gain competitive advantage. These companies are taking various strategic initiatives such as mergers, acquisitions, and partnerships so as to increase their presence in the global market.
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