Competitive landscape for the Marine Business
As a result of our broad product and solution portfolio and global market presence, our field of competitors is extensive. It comprises several original equipment manufacturers (OEMs), including engine companies such as MAN Energy Solutions, Caterpillar, Rolls-Royce Power Systems, and HiMSEN, propulsion system manufacturers such as Schottel and Brunvoll, and environmental and auxiliary equipment providers like Alfa Laval. Competitors also include electrical and automation system suppliers, notably Siemens, GE, and ABB, fuel gas system providers, such as TGE Marine, navigation and communication system and fleet optimisation solution providers like Furuno and JRC, as well as companies with extensive offerings, such as Kongsberg. We hold a leading position in many of these areas, including also ship traffic control solutions and maritime simulators.
The main competition in maintenance services comes from independent service companies operating globally, and local players with a limited scope of offering, such as spare part traders, repair yards, local workshops, component suppliers for spare parts (non-OEM), and field service businesses.
We have earned broad recognition throughout the maritime industry as a proven supplier of innovative and sustainable technologies and software solutions. This, together with our extensive portfolio, gives us a unique opportunity to comprehensively address the environmental challenges of the maritime industry by providing a financially attractive path towards decarbonisation.
Competitive Landscape for the Energy Business
Wärtsilä’s competitors in power generation comprise equipment manufacturers of internal combustion engine and gas turbine technologies. Wärtsilä is a market leader in medium-sized power plants with competitive technology, project management capabilities, and global service support. Some key competitors include MAN Energy Solutions, GE Power, and Siemens Energy.
As regards to energy storage systems and optimisation, competition comes from other system integrator companies. Wärtsilä is an experienced provider of balancing power with advanced energy management systems and unique engineering, procurement, and construction (EPC) capabilities. Competitiveness in this domain is determined by the ability to source storage technology cost competitively, the ability to provide energy system management solutions for the optimal integration of assets, and project management capabilities. Notable competitors in this market include Fluence and Tesla.
Competition within service activities is fragmented in nature. It mainly consists of customers conducting operations and maintenance themselves and local third-party service companies with a more limited scope of offering. In lifecycle solutions, competition comes from a few regional players capable of offering plant operational services. In asset performance management services, there are both new and more established competitors that provide software and analytics across industries, while some utilities are establishing these skills and knowledge in-house. Wärtsilä has the capabilities to ensure reliable and efficient operations of the installed base throughout the entire lifecycle of the assets, thanks to its global service network and extensive know-how and experience.