COVID-19 pandemic has turned out to be a major growth determinant in the industrial automation sector. With the integration of digital infrastructure to monitor and control public health, industrial automation has taken a new shape. This crisis has enhanced the value of IT and digital transformation across different sectors and industries.
In the current situation of restricted movement and reduced workforce, new technologies have been developed to provide end-to-end automation in different sectors such as food processing. Automated systems are hired by the companies to ensure continued supply and manufacturing of products with the least manual interference.
The digital transformation during the COVID-19 pandemic has enhanced our dependency on advanced technologies such as Augmented Reality, Virtual Reality, and the Industrial Internet of Things. The unfulfilled financial targets are compelling the organizations to adopt automation and advanced technologies to stay ahead in the market competition. Businesses are utilizing this opportunity by identifying daily operational needs and inculcating automation in it to create a digital infrastructure for the long term.
Marine Fuel Pump Market: Introduction
A Marine Fuel Pump is a vital part of a ship as it determines the performance parameters of a marine diesel engine. This results in adequate automation combined with optimal timing for fuel injection inside the engine. A Marine Fuel Pump controls the volume and timing of fuel injection into the cylinder of an engine. The spring configuration of a Marine Fuel Pump differs for every manufacturer.
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A Marine Fuel Pump operates based at cam and camshaft location in order to supply all cylinders with a definite amount of fuel at a correct time period depending on the firing order, regardless of the load. The Marine Fuel Pump supplies the injector with a high pressure gas, which then opens the valve to inject atomized fuel into the cylinder against the spring tension. Marine Fuel Pump offer various advantages for smooth engine operations such as reliability powerful acceleration and smooth idling which has envisaged its use in a significant manner.
Marine Fuel Pump Market: Market Dynamics
The primary driver for the Marine Fuel Pump market is the expanding fleet of sea vessels across diverse sectors such as commercial inland waterways, bulk oil & gas carriers, maritime tourism, fish trawlers, etc. A Marine Fuel Pump primarily serves the purpose of fuel injection to the engine, maintenance of optimal pressure between carburetor and engine along with preventing fuel from overheating.
Growing-cargo based shipbuilding industry along with increasing fleet of cruise vessels will accelerate the growth of Marine Fuel Pump market over the forecast period. The construction of new vessels along with developing marine oil & gas storage + transportation systems is also anticipated to drive the growth of the global Marine Fuel Pump market in the given forecast period.
A couple of factors which may possibly hinder the market development of Marine Fuel Pump includes complexity involved in pump change and high procurement cost of new marine fuel pump unit which has resulted in repair of existing units and reduction of operating requirements of pumps. Also limited fleet in high capacity sea vessels will also restrain the marine fuel pumps market growth due to low sales and installation rate.
To address these issues, advanced configurations of marine fuel pumps introduced by manufacturers are expected to present with significant growth opportunities for the demand generation of marine fuel pump at a sustainable level. Active investment into product development is being constantly pursued by marine fuel pump manufacturers for specific heavy duty applications is also been noticed as a prominent supply side trend.
Marine Fuel Pump Market: Market Segmentation
Based on Product type, the Marine Fuel Pump market can be segmented into:
- Jerk type
- Common rail injection type
Based on Power Rating, the Marine Fuel Pump market can be segmented into:
- 0 –2,000 HP
- 2,000 –10,000 HP
- 10,000 –20,000 HP
- 20,000–50,000 HP
- 50,000 –80,000 HP
- Above 80,000 HP
Based on Application, the Marine Fuel Pump market can be segmented into:
- Inland waterways
- Commercial Vessels
- Offshore Support Ships
- Fishing vessels
- Passenger ships
Marine Fuel Pump Market: Regional Outlook
Asia Pacific is expected to foresee significant growth in the global market for Marine Fuel Pump. Emerging economies of this region like China, South Korea, Singapore and Malaysia are actively involved in ship building hubs as well as maritime trade activities. Availability of skilled labor and low manufacturing costs has importantly contributed to the growth in this region.
In the next few years, China is expected to be the major niche market. Nonetheless, demand for Marine Fuel Pump has recently increased from Brazil, South Korea and Indonesia which are also expected to drive the near future growth of the global market for Marine Fuel Pump. The inland waterways sub-segment is a potential market for Marine Fuel Pump adhering to increased demand from countries like South East Asia, Africa, Europe, and South America. North America and Europe Marine Fuel Pump markets are understood to be matured markets which are likely to experience a tepid growth in the forthcoming years.
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Marine Fuel Pump Market: Market Players
Some of the key players of the global Marine Fuel Pump Market are as follows:
- Woodward Inc.
- Cummins Inc.
- Yanmar Co. Ltd.
- Rolls-Royce Holdings Plc.
- Liebherr International Ag
- Caterpillar Inc.
- Man Se
- Robert Bosch Gmbh
- Delphi Automotive Plc.
- Denso Corporation
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