Marine market
The company services the merchant, offshore, cruise and ferry, naval, fishing, tugs, yachts and special vessel markets, and the offering includes ship design, main and auxiliary engines, auxiliary power systems, electrical and automation packages, propulsors (such as water jets, thrusters, propellers, and nozzles), seals, bearings, gears, rudders, scrubbers, boilers, and all related services, such as repair, configuration, upgrading, training, maintenance, and environmental services.
Customers comprise both shipyards and ship owners. The environmental products range from reduction of air emissions, such as NOx, SOx, CO, and volatile organic compounds (VOCs), to oily waste water treatment and other water systems such as ballast water management systems.
Wärtsilä was an important Finnish shipbuilder from 1935 until 1989, building cruiseferries, cruise ships and a large share of the icebreakers of the world. The former Wärtsilä Marine Turku Shipyard is now owned by Meyer Werft under its Meyer Turku subsidiary and the Helsinki shipyard is operated by a company of the same name owned by the Canadian Davie Shipbuilding.
Energy equipment market
Wärtsilä is a provider of power plants in distributed and flexible power generation. The product portfolio consists of installations up to 600 MW, running on any gaseous or liquid fuels, such as Heavy fuel oil, natural gas, liquefied natural gas (LNG), different types and qualities of fuel oils, and renewable fuels like biogas and biofuel. In addition for the reliability of traditional base power generation, the engines have the capability to start and stop quickly and they maintain their efficiency in part load, which makes them well suited for peaking power production, smart grids, and emergency power systems. They can also utilize the combined cycle and cogeneration to produce steam or hot water for heating, and trigeneration for chilled water, which can be used for air conditioning.
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Wärtsilä also provides products and services for grid stability management, utilization of gas flares, pumping applications (such as pump and compression drives), financial services, and project management services for projects concerning power generation.
In 2016, Wärtsilä signed an agreement to acquire Greensmith Energy Management Systems Inc.
In March 2018, the company announced that it had delivered the world's largest solar hybrid power plant, situated in Burkina Faso.
Wärtsilä provides about 25 percent of Bangladesh's total grid capacity, with the company's total power supply to Bangladesh rising to more than 4200 MW when a 105MW power plant being built by Baraka Shikalbaha Power Ltd goes fully operational in spring 2019.
Wärtsilä's wide energy products and systems footprint includes the US, Germany, the UK, China, Russia, Singapore, Bangladesh, India, Indonesia, Myanmar, Senegal, the Dominican Republic, Australia, Saudi Arabia, Tanzania, Morocco, Argentina, Sierra Leone, Brazil, Finland, Mauritius, Rwanda, Honduras, El Salvador, Kazakhstan, Mexico, Jordan and Oman.
Battery Storage
After acquiring Greensmith in 2017, Wärtsilä entered the global battery storage market as Wärtsilä Energy Storage and Optimisation (ES&O). Its energy storage business reached profitability in 2023. Wärtsilä ES&O's offering includes battery energy storage system (BESS) hardware through its Quantum portfolio, a controls and optimisation software with GEMS Digital Energy Platform, and lifecycle services.
Services Market
The wholly owned service network consists of over 4,500 field service professionals in more than 160 locations in over 70 countries globally, with the installed base of over 180 000 MW. The focus lies on optimising operations and life cycle performance of land based power plants and ship installations.
Wärtsilä provides services, spare parts, maintenance, upgrades, and fuel conversions products for medium and low-speed gas and diesel engines and other related systems, propulsion systems, electrical & automation systems, boilers including environmental solutions regarding particulates and NOx, covering scrubber, selective catalytic reduction (SCRs), oxidation catalysts, ballast water treatment systems and oily-water systems, long-term service agreements, training, condition monitoring, and condition-based maintenance and advisory services.
In January 2017, Wärtsilä and Carnival Corporation announced a 12-year performance-based agreement worth 900 million euros.
Acquisitions in the services business include Eniram in 2016, Trident B.V in 2017, and Lock-N-Stich.
On 1 October 2018, Wärtsilä announced that it would reorganize into two business areas, incorporating the Services business into the existing Marine and Energy businesses.
Market share and competitors
At the end of 2023, Wärtsilä's market share in marine medium-speed main engines was 46% and in auxiliary engines 17%. At the end of 2023 Wärtsilä's market share for gas and liquid fuel power plants was 13%.
Wärtsilä's biggest competitors in the marine market are MAN Energy Solutions, Caterpillar Inc. and Kongsberg Gruppen. Key competitors in the energy market include General Electric, Siemens, Mitsubishi Heavy Industries and Ansaldo Energia. When it comes to energy storage systems, Wärtsilä's main competitors include Tesla, Inc and Fluence Energy.
