Press release
Battery Pack for Marine Hybrid & Full Electric Propulsion Market Analysis 2030
Albany, NY - Battery Pack for Marine Hybrid & Full Electric Propulsion Market: IntroductionThe global battery pack for marine hybrid & full electric propulsion market was valued at ~US$ 240 Mn in 2019 and is anticipated to expand at a CAGR of ~9% during the forecast period. Among power ratings, the above 3.5 MW segment held a dominant share of the global battery pack for marine hybrid & full electric propulsion market in 2019, primarily due to high demand from the marine industry. In terms of propulsion type, the hybrid propulsion segment accounted for a major share of the global battery pack for marine hybrid & full electric propulsion market in 2019. This can be ascribed to high adoption of hybrid propulsion systems in retrofit ships. Based on vessel type, the ferries segment constituted a significant share of the global battery pack for marine hybrid & full electric propulsion market in 2019. Demand for hybrid and full electric ferries is high, as they reduce the pollution near port areas and save operational costs.
Among RPMs, the 1,001 RPM – 2,500 RPM segment accounted for a major share of the global battery pack for marine hybrid & full electric propulsion market in 2019. A large number of ferries, tugboats, offshore support vehicles, and defense vehicles have engine capacity ranging from 1,001 RPM to 2,500 RPM. These vessels have significant demand from the marine industry. Hence, 1,001 RPM – 2,500 RPM is expected to be the dominating segment during the forecast period.
The battery pack for marine hybrid & full electric propulsion market in Asia Pacific is likely to expand at a substantial pace during the forecast period, owing to rapid urbanization and industrialization in the region.
Download PDF Brochure - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=76884
Key Drivers of Battery Pack for Marine Hybrid & Full Electric Propulsion Market
Over the last few years, adoption of hybrid propulsion systems in retrofit ships as well as new ships has significantly increased. This can ascribed to various benefits provided by hybrid propulsion systems. Hybrid propulsion provides high variation in operation modes, which is required to address flexible power demand. This results in increase in overall operational capability of the engine. A propeller can be driven by a diesel engine or an electric motor, which provides a highly redundant and reliable propulsion system. Reduced engine operating costs are led by the optimum use of the main engine and auxiliary gensets. Both the main engine and auxiliary gensets are used to provide the required amount of power, with optimal load and minimal specific fuel oil consumption. This reduces consumption of fuel, leading to reduction in emissions of CO2, SOx and NOx.
Furthermore, vessel operators are using renewable energy, such as solar and wind energy, as power sources while at dock or in sea. The energy is stored in batteries, which can be used during peak hours in marine propulsion systems. This reduces the use of fossil fuel. Hence, increase in the adoption of hybrid and full electric propulsion systems is estimated to boost the global battery pack for marine hybrid & full electric propulsion market in the near future.
More Trending Reports by Transparency Market Research – https://www.prnewswire.co.uk/news-releases/global-artificial-lift-systems-market-to-earn-revenue-worth-us-12-3-bn-by-2027-growing-at-a-cagr-of-5-0-over-2019-to-2027-transparency-market-research-853459071.html
Asia Pacific to Lead Battery Pack for Marine Hybrid & Full Electric Propulsion Market
Asia Pacific led the global battery pack for marine hybrid & full electric propulsion market in 2019 due to rapid industrialization and presence of well-established manufacturing units of major players in automotive, electronics, furniture, plastics, pharmaceutical, garments, and engineering products industries in Asia Pacific. Furthermore, due to industrialization, the disposable income has risen, due to which there is change in the spending pattern. All these factors are expected to propel the global battery pack for marine hybrid & full electric propulsion market during the forecast period. Countries such as China and Japan are expected to dominate the battery pack for marine hybrid & full electric propulsion market in Asia Pacific in the next few years, as these countries have the maximum number of ships in the world. Furthermore, changing government policies to reduce carbon emissions in the region are expected to drive the global battery pack for marine hybrid & full electric propulsion market during the forecast period.
Request For the Customization - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=76884
Major Developments in Battery Pack for Marine Hybrid & Full Electric Propulsion Market
In November 2019, Corvus Energy announced to have signed a contract with the U.K.-based SEC Marine Ltd to supply an energy storage system (ESS) for the world’s first hybrid surface effect ship (SES) for use in crew transfer. SEC Marine Ltd is developing the SES vessel in response to an industry-wide drive to develop and utilize innovative technologies that help lower CO2 emissions and cost-effectively service offshore wind energy farms. In February 2020, Corvus Energy announced to have been selected by Damen Shipyards to provide energy storage systems (ESSs) to BC Ferries for four new battery-hybrid ferries. BC Ferries had placed a repeat order for four Damen Road Ferries with 8117 E3 design— also known as ‘Island Class’ vessels of BC Ferries with Damen Shipyards Group. These four ferries are planned to be designed with the latest advanced clean marine technology. They would be ready for fully battery-powered, zero-emission operations.
Request for covid19 Impact Analysis - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=76884
Battery Pack for Marine Hybrid & Full Electric Propulsion Market: Competition Landscape
The global battery pack for marine hybrid & full electric propulsion market is led by multinational players operating across the globe. Prominent players operating in the global battery pack for marine hybrid & full electric propulsion market are Corvus Energy, Eco Marine Power, Rolls-Royce plc, Nidec Group, and RELiON Batteries.
Global Battery Pack for Marine Hybrid & Full Electric Propulsion Market: Segmentation
Battery Pack for Marine Hybrid & Full Electric Propulsion Market, by Power Rating
• Up to 1 MW
• 1.1 MW – 2 MW
• 2.1 MW – 3.5 MW
• Above 3.5 MW
Battery Pack for Marine Hybrid & Full Electric Propulsion Market, by Propulsion Type
• Hybrid Propulsion
• Full Electric Propulsion
Battery Pack for Marine Hybrid & Full Electric Propulsion Market, by Vessel Type
• Tugboats & OSVs
• Ferries
• Defense Vessels
• Yachts
• Cruise Ships
• Others
Battery Pack for Marine Hybrid & Full Electric Propulsion Market, by RPM
• 0 RPM – 1,000 RPM
• 1,001 RPM – 2,500 RPM
• Above 2,500 RPM
Contact
Transparency Market Research,
90 Sate Street, Suite 700,
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com/
About Us
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Battery Pack for Marine Hybrid & Full Electric Propulsion Market Analysis 2030 here
News-ID: 2168781 • Views: …
More Releases from Transparency Market Research - Energy & Mining
Wastewater Treatment Services Market – Notable Developments and Geographical O …
Albany, NY - Wastewater Treatment Services Market- Overview
Large amount of wastewater is produced from households and industries that can be successfully treated for reuse and also for discharging it into the environment. Many regions in the world are going through water crisis. Wastewater treatment services can provide significant solutions to handle this situation. Rapid urbanization brought by industrialization and unprecedented population rise are inducing high demand for clean drinking…
Key Drivers of Europe Distribution Transformer Market
Albany, NY - Europe Distribution Transformer Market: Introduction
The distribution transformer market in Europe was valued at US$ 3.5 Bn in 2019 and is anticipated to expand at a CAGR of 6.5% during the forecast period. Based on insulation, the liquid segment held dominant share of the distribution transformer market in Europe in 2019. In terms of insulation type, the replacement segment accounted for a larger share of the distribution transformer market in Europe in 2019. Power failures have been rising due to…
Customized Peptide Generation Market Drivers, Restraints and Notable Development …
Albany, NY - Global Customized Peptide Generation Market: Overview
Mechanical developments, expanding research exercises in the field of engineered science, developing weight of malignancy and irresistible illnesses, and expanding ventures and subsidizing for protein-based inquire about are the central point driving the customized peptide generation market development.
Peptide usage in the pharmaceutical business has experienced an enormous change lately because of mechanical improvements. Prior, peptide generation was completed with the assistance of common sources,…
Hybrid And Full Electric Marine Propulsion Market To Hit US$7,516.7 Mn By 2026
Albany, NY - The global hybrid and full electric marine propulsion market bears a fairly fragmented vendor landscape, says Transparency Market Research (TMR) in a recently published report. This is solely because of the existence of large, medium, and small scale players in the market. BAE Systems, Wartsilla Corporation, AB Volvo Penta, Niigata Power Systems, and Fairbanks Morse Engine are the leading companies in the global hybrid and full electric marine propulsion…
More Releases for Marine
Marine Fender Market Hits New High | Major Giants Bridgestone Corporation, Fende …
HTF MI recently introduced Global Marine Fender Market study with 143+ pages in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status (2025-2032). The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence.
Major companies in Marine Fender Market are:
Acir Marine (United States), Bridgestone Corporation (Japan), Fendercare Marine (United Kingdom), Maha Tech Asia Pte Ltd…
Marine Lighting Market Forecasted for Strong Growth from 2025 to 2032 | Phoenix …
The marine lighting market is estimated to be valued at USD 449.8 Mn in 2025 and is expected to reach USD 654.3 Mn by 2032, growing at a compound annual growth rate (CAGR) of 5.5% from 2025 to 2032.
A new report from CoherentMI, titled "Marine Lighting Market 2025-2032," offers an in-depth examination of the industry, including valuable insights into the Marine Lighting Market's performance. The report covers competitor dynamics, regional…
Marine Switchboards Market | ABB, Atlas Marine Systems, Clean Marine Switchboard …
The global marine switchboards market report is a comprehensive report that provides a detailed analysis of the current status and future trends of the marine switchboards market worldwide. This report provides valuable information to industry stakeholders by offering an in-depth perspective on market dynamics, competitive landscape, growth opportunities, and key challenges faced by industry participants.
From the perspective of market dynamics, this report explores the factors driving the growth of the…
Marine Asset Management Services Market Boosts Massive Revenue by 2030| Oceanic …
The latest study released on the Global Marine Asset Management Services Market by GMV Research evaluates market size, trend, and forecast to 2030. The Marine Asset Management Services market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities, and upcoming challenges and about…
Marine Doors market: Players tapping Emerging Markets | MML Marine, Baier, Freem …
"The global Marine Doors Market is carefully researched in the report while largely concentrating on top players and their business tactics, geographical expansion, market segments, competitive landscape, manufacturing, and pricing and cost structures. Each section of the research study is specially prepared to explore key aspects of the global Marine Doors Market. For instance, the market dynamics section digs deep into the drivers, restraints, trends, and opportunities of the global…
Ocean Engineering Equipment Market Business Opportunities 2026 - Top Companies a …
The Ocean Engineering Equipment Market research added by UpMarketResearch.com, offers a comprehensive analysis of growth trends prevailing in the global business domain. This report also provides definitive data concerning market, size, commercialization aspects and revenue forecast of the industry. In addition, the study explicitly highlights the competitive status of key players within the projection timeline while focusing on their portfolio and regional expansion endeavors.
Request Exclusive Free Sample PDF of This…
