Marine Engineering Market Size and Trends

The Global Marine Engineering Market is estimated to be valued at USD 175.68 Bn in 2025 and is expected to reach USD 271.40 Bn by 2032, growing at a compound annual growth rate (CAGR) of 6.4% from 2025 to 2032.

Key Takeaways from the Marine Engineering Market Report:

Mechanical engineering is expected to contribute the highest share of 61.7% market share in 2025.
Boats contribute the highest share of 39.8% in 2025.
Asia Pacific is expected to dominate and account for 42.3% market share in 2025.

Market Overview:

The marine engineering market is expected to witness a positive trend over the forecast period. There is an increased demand for ship repair and maintenance services due to the rise in maritime trading activities across the globe. Additionally, the international seaborne trade of important commodities and raw materials is increasing significantly.

Major players in the market are focusing on adopting advanced technologies like automation, digitalization and IoT solutions to improve productivity and efficiency. Growing environmental concerns are also compelling ship manufacturers to focus on developing fuel-efficient and low emission ships, which is supporting the demand for marine engineering services. However, the supply chain disruptions caused due to the COVID-19 pandemic negatively impacted the growth of the market in the short term.