Market Insights: Global Renewable Propulsion for Marine Vessels Market to grow at a CAGR of 4.57% during 2017-2021

The renewable energy systems market consists power-generating sources that use renewable energy such as wind, water, sunlight, gas, and steam. Companies are trying to adhere to the stringent government policies on emission control by using renewable energy in propulsion systems for marine vessels. With the transportation industry striving to achieve fuel economy, along with low emissions, the shipping industry is also directing its efforts toward adopting renewable fuels for propulsion. It is further driven by the fact that the industry is a significant contributor to carbon emissions globally. Theoretically, emission from 160 large container ships is equivalent to that of the emissions from the global car fleet. Therefore, keeping the global warming concerns in view, the shipping industry is gradually moving toward renewable propulsion systems.

The global renewable propulsion for marine vessels market to grow at a CAGR of 4.57% during the period 2017-2021. The report covers the present scenario and the growth prospects of the global renewable propulsion for marine vessels market for 2017-2021. To calculate the market size, the report considers the renewable and associated sources (such as hybrid systems involving renewables) in this report. We have also considered supporting technologies, such as real-time cloud-enabled software suites, which maximize the use of renewables.

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Technavio's report, Global Renewable Propulsion Market for Marine Vessels 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
- Deltamarin
- Eco Marine Power (EMP)
- Eniram (Wrtsil)
- Norsepower
- Smart Green Shipping Alliance (SGSA)

Other prominent vendors
- ABB
- Alewijnse Marine Systems
- Echandia Marine
- Leclanch
- A.P. MollerMaersk Group
- NYK Group
- STX France

Market driver
- Transition toward clean energy-driven shipping sector
- For a full, detailed list, view our report

Market challenge
- Technical glitches in design and implementation
- For a full, detailed list, view our report

View Complete TOC with Tables and Figures at: https://www.researchmoz.us/global-renewable-propulsion-for-marine-vessels-market-2017-2021-report.html/toc

Key questions answered in this report
- What will the market size be in 2021 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?

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