Global Market Study on Marine Hybrid Propulsion Market and Growth Analysis Covering Drivers and Trends Forecasted during 2017-2025

Market Research Reports Search Engine (MRRSE) has been acting as an impressive data source when it comes to evaluating various industrial verticals. The research report titled “Marine Hybrid Propulsion” offers a clear insight about the Marine Hybrid Propulsion assessed over the global platform. This analysis proves beneficial for readers & new investors who are aiming to enter the market for Marine Hybrid Propulsion in the near future.

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Global marine hybrid propulsion market are distributed among a small chunk of players and as the market is heavily dependent on technology that is not ubiquitous, the consolidated condition of the market will sustain in the near future too. While new entrants struggle to make a foray into the marine hybrid propulsion market, some of the leading vendors such as General Electric, Siemens AG, Rolls-Royce plc, Volvo Penta, BAE Systems plc, MAN Diesel & Turbo SE, Aspin Kemp & Associates, Caterpillar Inc., and SCHOTTEL Group are focused on developing efficient propulsion technologies and offer enhanced features such as emission-free operations, silent maneuvering, and low degree of fuel consumption.

In addition to product and technology development, the stockholders of this market, such as technology developers and vessel operators, are frequently indulging in collaboration activities to expand their geographical presence. One of such example can be the acquisition of Berg Propulsion by Caterpillar in 2013, which helped the company to expand its range of marine propulsion package system and strengthen its position in the market.

Marine Hybrid Propulsion Market to be worth US$6484.9 mn by 2025

The analysts of the TMR repot have projected the demand in the global marine hybrid propulsion market to proliferate at a notable CAGR of 8.9% during the forecast period of 2017 to 2025. The analysts have also forecasted the opportunities in this market to translate into a revenue of US$6484.9 mn by the end of 2025, swelling up from its evaluated worth of US$3278.0 mn in 2017. Based on propulsion type, the market has been segmented into diesel-electric, serial hybrid, and parallel hybrid, whereas on the basis of end use, the analysts have bifurcated the market into tugboats, ferries, defense vessels, offshore support vessels (OSV’s), yacht, and cruise ships. The market has also been classified on the basis of power rating, stroke, and RPM. Geographically, the report highlights Europe as the region that is providing for the maximum demand in the global marine hybrid propulsion market, although the demand from Asia Pacific has been ascribed for an above-average CAGR  of 11.0% during the forecast period of 2017 to 2025.

Increased International Trade Opening New Opportunities

In the recent past, there has been a substantial increment in International trade, which has tremendously added to the demand for modes of water transportation that are cost effective as well as efficient. Marine hybrid propulsion not only offer improved fuel efficiency but also adhere to stringent environmental regulations that a number of countries have installed owing to the growing concerns of global warming caused as a result of fossil fuel. The system utilizes the unused capacity of the main diesel engine to generate electricity and store it in batteries for later use.  In recent years, marine hybrid propulsion systems have emerged as a reliable method of clean propulsion and a number of vessel categories are utilizing it. In addition to that, increased defense budget by various emerging economies, particularly for sea-based defense and maritime security and gradual adoption of LNG over conventional marine fuels are expected to open new opportunities in the global marine hybrid propulsion market. Moreover, the ease with which these systems can be configured and installed has helped the adoption substantially.

Global Marine Hybrid Propulsion Market: Competitive Landscape

The study includes profiles of major companies operating in the global marine hybrid propulsion market. Key players in the marine hybrid propulsion market include Siemens AG, Volvo Penta, General Electric, Rolls-Royce plc, BAE Systems plc, Wartsila, MAN Diesel & Turbo SE, etc. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, recent developments, and SWOT analysis. The market for marine hybrid propulsion is primarily driven by its operation efficiency, cost-effective operation, automation and digitalization, growing infrastructural activities, water utility, waste water treatment, water distribution/transport networks, integration of several systems and components to form a complete intelligent pumping solution for various applications, etc.

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Global Marine Hybrid Propulsion Market: Propulsion Type Analysis

Diesel-electric
Parallel Hybrid
Serial Hybrid

Global Marine Hybrid Propulsion Market: End-use Analysis

Tugboats
Offshore Support Vessels (OSV’s)
Ferries
Defense Vessels
Yacht
Cruise Ships
Others

Global Marine Hybrid Propulsion Market: Power Rating Analysis

0-300 kW
301-500 kW
501-800 kW
Above 801 kW

Global Marine Hybrid Propulsion Market: Stroke Analysis

Two Stroke
Four Stroke

Global Marine Hybrid Propulsion Market: RPM Analysis

0-1,000 rpm
1,001-2,500 rpm
Above 2,500 rpm

Global Marine Hybrid Propulsion Market: By Region/Country/Sub-region

North America
U.S.
Canada
Europe
Germany
France
U.K.
Spain
Italy
Rest of Europe

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