asia pacific marine generator sets market - is the mature shipbuilding industry stagnating market...

Asia Pacific Marine Generator Sets Market - Is the Mature Shipbuilding Industry Stagnating

Market Growth?

Subha KrishnanResearch Analyst - Energy and Power Systems, Asia PacificSeptember 2011

2

Market Summary

• Customers prefer locally packaged generator sets. They prefer to buy engines of well known brands and choose cost-effective generator sets from local participants so as to reduce the overall purchase price of the unit

• Low-cost imports from China exerts severe pressure on the price trends of domestic manufacturers

• Original equipment manufacturers (OEMs) are likely to introduce hybrid generator sets (battery operated) by 2020

• Demand for multiple units of small power output capacity generator sets are likely to increase during the forecast period

• Sustainable demand from commercial vessel customer segment is guaranteed in Southeast Asia as its economy largely depends on imports and exports

• The demand pattern in the marine generator sets market varies significantly between the Asia Pacific countries as they are directly affected by the development of shipbuilding industry and the economic factors in the region

• Marine generator sets < 500 kW power output capacity dominate the market in terms of both volume and revenues and is likely to remain so during the forecast period

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Southeast Asia Marine Generator Sets Market

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Drivers and Restraints M

arke

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1-2 years

3-5 years

Growing needs of the shipbuilding industry

Demand from commercial segment drives demand for use of generator set

Competition from Chinese brands acts as a market entry barrier for local companies

Replacement market opportunities

Flat demand from pleasure vessels segment due to increase in price

Impact: High Medium Low

Marine Generator Sets Market: Key Market Drivers and Restraints, Southeast Asia, 2011-2015

Source: Frost & Sullivan analysis.

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Note: All figures are rounded. The base year is 2010. Source: Frost & Sullivan analysis.

Marine Generator Sets Market Revenue Forecast

Marine Generator Sets Market Revenue Forecast,Southeast Asia, 2008-2015

CAGR = 4.9%

0

50

100

150

200

250

300

350

400

Year

Re

ve

nu

e ($

Mill

ion

)

(4.0)

(2.0)

0.0

2.0

4.0

6.0

8.0

Gro

wth

Ra

te (

%)

Revenue 268.0 264.0 266.1 274.4 285.1 298.7 315.8 337.2

Growth Rate

(1.5) 2.0 3.1 3.9 4.8 5.7 6.8

2008 2009 2010 2011 2012 2013 2014 2015

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Marine Generator Set Market Revenue Forecast—By Power Output Type

Marine Generator Sets Market: Revenue Forecast by Power Output Type, Southeast Asia, 2010 and 2015

0%

20%

40%

60%

80%

100%

Year

Re

ve

nu

e (

%)

1,001-3,000 kW 26.6 32.0

501-1,000 kW 26.6 32.7

< 500 kW 212.8 273.1

2010 2015

CAGR 5.1 %

CAGR 4.2%

CAGR 3.8%


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Marine Generator Sets Market Percent Revenue Split—By Customer Type

Marine Generator Sets Market: Percent Revenue Split by Customer Type, Southeast Asia, 2010

Defense Vessels1.0%

Commercial Vessels51.0%

Pleasure Vessels 48.0%


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Competitive Analysis—Market Share

Percent of SalesMarine Generator Sets Market: Southeast Asia, 2010

Others*29.0%

YANMAR Co10.0% Cummins Inc

29.0%

Caterpillar32.0%

Note: All figures are rounded. Base year is 2010. Source: Frost & Sullivan analysis.

* Others: MTU Detriot Diesel, Westerbeke Corp, Fischer Panda Marine, Local Participants

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North Asia Marine Generator Sets Market

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arke

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1-2 years 3-5 years

Increased collaboration between shipyards and local equipment manufacturers

Increase in material prices after nuclear disaster

Government support

Impact of recession on the forecast period

High market entry barriers for new company


Marine Generator Sets Market: Key Market Drivers and Restraints, North Asia, 2011-2015


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Marine Generator Sets Market Revenue Forecast,North Asia, 2008-2015

CAGR = 5.2%

0

50

100

150

200

250

300

350

400

Year

Rev

enu

e ($

Mill

ion

)

(4.0)

(2.0)

0.0

2.0

4.0

6.0

8.0

Gro

wth

Ra

te (

%)

Revenue 277.0 268.0 274.4 283.8 295.7 311.9 331.3 353.8

Growth Rate

(3.2) 2.4 3.4 4.2 5.5 6.2 6.8

2008 2009 2010 2011 2012 2013 2014 2015

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Marine Generator Sets Market Revenue Forecast—By Power Output Type

Marine Generator Sets Market: Revenue Forecast by Power Output Type, North Asia, 2010 and 2015

0%

20%

40%

60%

80%

100%

Year

Re

ve

nu

e (

%)

1,001-3,000 kW 10.9 14.1

501-1,000 kW 27.4 37.1

< 500 kW 236.0 302.5

2010 2015


CAGR 5.1%

CAGR 5.1%

CAGR6.2%

CAGR6.2%

CAGR5.2%

CAGR5.2%

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Marine Generator Set Market Percent Revenue Split—By Customer Type

Marine Generator Sets Market: Percent Revenue Split by Customer Type, North Asia, 2010

Defense Vessels8.0%


Pleasure Vessels 50.0%


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Percent of SalesMarine Generator Sets Market: North Asia, 2010

MITSUBISHI HEAVY

INDUSTRIES, LTD

30.0%

Daihatsu Motor Co.

13.0%

Others*35.0%

YANMAR Co10.0% Yamaha

12.0%

* Others: Wartsila Corp, Hyundai Heavy Industries Co, Doosan Infracore America Corporation, STX Engine, Cummins Inc, Caterpillar

Note: All numbers are rounded. Base year is 2010. Source: Frost & Sullivan analysis.

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Australia/New Zealand Marine Generator Sets Market

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arke

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arke

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ain

ts

1-2 years 3-5 years

High replacement and after-sales demand

Weak shipbuilding industry


Marine Generator Sets Market: Key Market Drivers and Restraints, ANZ, 2011-2015


Demand from commercial vessel segment

Less demand from pleasure and defense vessel segments

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Marine Generator Sets Market Revenue Forecast,ANZ, 2008-2015CAGR = 2.0%

0

2

4

6

8

10

12

14

16

Year

Re

ve

nu

e ($

Mill

ion

)

(4.0)

(2.0)

0.0

2.0

4.0

Gro

wth

Ra

te (

%)

Revenue 13.8 13.6 13.9 14.1 14.4 14.6 14.9 15.3

Growth Rate

(1.0) 1.4 1.8 1.8 1.9 2.1 2.2

2008 2009 2010 2011 2012 2013 2014 2015

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Marine Generator Sets Market Revenue Forecast—By Power Output Type

Marine Generator Sets Market: Revenue Forecast by Power Output Type, ANZ, 2010 and 2015

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

Year

Re

ve

nu

e (

%)

501-1,000 kW 1.3 1.5

< 500 kW 12.4 13.7

2010 2015


CAGR 1.9%

CAGR 1.9%

CAGR 2.1%

CAGR 2.1%

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Marine Generator Set Market Percent Revenue Split—By Customer Type

Marine Generator Sets Market: Percent Revenue Split by Customer Type, ANZ, 2010


Pleasure Vessels58.0%


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Percent of SalesMarine Generator Sets Market: ANZ, 2010

Kohler Power Systems25.0%

Cummins Inc25.0%

Others*30.0%

Caterpillar20.0%

* Others: Northern Lights, Inc, Westerbeke Corp, Lombardini Group, NanniDiesel, Fischer Panda Marine, Military And Vehicle Generators


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For Additional Information

Donna JeremiahCorporate CommunicationsAsia Pacific+603 6204 [email protected]

Carrie LowCorporate CommunicationsAsia Pacific+603 6204 [email protected]

Subha Krishnan Research AnalystEnergy & Power [email protected]

asia pacific marine generator sets market - is the mature shipbuilding industry stagnating market...

Business

packaged generator sets

key market drivers

region marine generator

use of generator

costeffective generator

hybrid generator

market summary customers

frost sullivan analysis