Wärtsilä is a market leader in medium-speed main engines. The largest competitors are the other main suppliers of medium-speed diesel engines, Caterpillar (MAK) and MAN Diesel.
Wärtsilä’s low-speed main engines are manufactured under licence, primarily in Asia. The largest competitors are engines designed by MAN Diesel and Mitsubishi Heavy Industries.
The market for auxiliary engines is fragmented and competition on price is intensive. In this segment Wärtsilä’s competitors are MAN Diesel and its licensed manufacturers, HiMSEN engines produced by Hyundai Heavy Industries and high-speed engines.
Wärtsilä has no direct competitors that offer similar portfolio of services from one single source. Each service category therefore has its own identified set of competitors. Excluding the service networks of other engine manufacturers, there are few global players in the service market; competition is largely local.
The power plant market is highly fragmented and this is also reflected in its competitive structure. Wärtsilä’s largest competitors in its traditional HFO power plant segment are other engine suppliers, some of whom also compete with Wärtsilä in its Ship Power segment. In gas power plants, the competitors are suppliers of both gas engines and gas turbines. Wärtsilä’s competitors in renewables are local boiler plant manufacturers specific to each market.