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Marine Parallel Hybrid Propulsion Market Size, Share, Trends & Growth by 2032

12-02-2024 06:31 AM CET | Aerospace & Defense

Press release from: Fortune Business Insights Pvt Ltd โ„ข

Marine Parallel Hybrid Propulsion Market

Marine Parallel Hybrid Propulsion Market

The global marine parallel hybrid propulsion market size was USD 0.90 billion in 2022. The market is set to rise from USD 1.03 billion in 2023 to USD 2.25 billion by 2030 at a CAGR of 11.9% during 2023-2030.
Marine parallel hybrid propulsion systems typically integrate electric and combustion engines across a vessel's operating cycle to enhance overall efficiency. The preference for these systems over traditional driveline propulsion arises from their capacity to curtail fuel consumption.
Fortune Business Insightsโ„ข shares this information in its report titled "Marine Parallel Hybrid Propulsion Market, 2023-2030."

๐†๐ž๐ญ ๐š ๐…๐ซ๐ž๐ž ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/marine-parallel-hybrid-propulsion-market-108735

๐‹๐ข๐ฌ๐ญ ๐จ๐Ÿ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ ๐๐ซ๐จ๐Ÿ๐ข๐ฅ๐ž๐ ๐ข๐ง ๐ญ๐ก๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ
โ€ข ABB Ltd. (Switzerland)
โ€ข Rolls-Royce Holdings plc (U.K.)
โ€ข Caterpillar Inc. (U.S.)
โ€ข General Electric Company (U.S.)
โ€ข Nidec Industrial Solutions (Italy)
โ€ข MAN Energy Solutions (Germany)
โ€ข Siemens AG (Germany)
โ€ข Mitsubishi Heavy Industries, Ltd. (Japan)
โ€ข Wรคrtsilรค Oyj Abp (Finland)
โ€ข Cummins Inc. (U.S.)

๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง
๐†๐ซ๐จ๐ฐ๐ข๐ง๐  ๐”๐ฌ๐š๐ ๐ž ๐จ๐Ÿ ๐“๐ฎ๐ ๐ฌ ๐š๐ง๐ ๐๐š๐ซ๐ ๐ž๐ฌ ๐ข๐ง ๐’๐ฆ๐š๐ฅ๐ฅ ๐‘๐ข๐ฏ๐ž๐ซ๐ฌ ๐๐จ๐จ๐ฌ๐ญ๐ฌ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐„๐ฑ๐ฉ๐š๐ง๐ฌ๐ข๐จ๐ง

In terms of ship type, the market is segregated into tugs & barge, offshore vessel, fishing vessel, research and survey vessel, search and rescue vessel, patrol boats, passenger ship, recreational boats, and landing crafts. The tugs and barge segment dominates the global market due to increased utilization in small river operations for towing or guiding large ships.

๐Ÿ,๐ŸŽ๐ŸŽ๐ŸŽ ๐‡๐ ๐ญ๐จ ๐Ÿ‘,๐ŸŽ๐ŸŽ๐ŸŽ ๐‡๐ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐‚๐จ๐ฆ๐ฆ๐š๐ง๐๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐๐ฎ๐ž ๐ญ๐จ ๐ข๐ญ๐ฌ ๐ˆ๐ง๐œ๐ซ๐ž๐š๐ฌ๐ข๐ง๐  ๐ƒ๐ž๐ฉ๐ฅ๐จ๐ฒ๐ฆ๐ž๐ง๐ญ ๐ข๐ง ๐‹๐š๐ซ๐ ๐ž ๐š๐ง๐ ๐‡๐ž๐š๐ฏ๐ฒ ๐’๐ก๐ข๐ฉ๐ฌ

On the basis of engine power rating, the market is categorized into upto 150 HP, 150 to 500 HP, 500 HP to 1,000 HP, and 1,000 HP to 3,000 HP. The 1,000 HP to 3,000 HP segment holds the largest market share, attributed to its increased deployment in large and heavy ships.

๐ˆ๐ง๐œ๐ซ๐ž๐š๐ฌ๐ข๐ง๐  ๐”๐ฌ๐š๐ ๐ž ๐จ๐Ÿ ๐ˆ๐‚ ๐„๐ง๐ ๐ข๐ง๐ž๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐„๐ฑ๐ข๐ฌ๐ญ๐ข๐ง๐  ๐…๐ฅ๐ž๐ž๐ญ ๐จ๐Ÿ ๐•๐ž๐ฌ๐ฌ๐ž๐ฅ๐ฌ ๐’๐ญ๐ซ๐ž๐ง๐ ๐ญ๐ก๐ž๐ง๐ฌ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก

By component, the market is classified into IC engine, generator, power management system, battery, gearbox, and others. The IC engine segment leads the global market due to its rising use in the existing fleet of vessels, driving segment growth.

๐‚๐จ๐ง๐ญ๐ข๐ง๐ฎ๐จ๐ฎ๐ฌ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ ๐ข๐ง ๐ญ๐ก๐ž ๐„๐ฑ๐ข๐ฌ๐ญ๐ข๐ง๐  ๐Ÿ๐ฅ๐ž๐ž๐ญ ๐จ๐Ÿ ๐•๐ž๐ฌ๐ฌ๐ž๐ฅ๐ฌ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก ๐‘๐ž๐ญ๐ซ๐จ๐Ÿ๐ข๐ญ๐ญ๐ข๐ง๐  ๐…๐จ๐ฌ๐ญ๐ž๐ซ๐ž๐ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก
Based on installment, the segment is divided into line fit and retro fit. The retrofit segment takes the lead in 2022, driven by continuous fleet development through retrofitting measures.

๐“๐ก๐ž ๐Ÿ๐ŸŽ๐ŸŽ ๐Š๐– ๐ญ๐จ ๐Ÿ’๐ŸŽ๐ŸŽ ๐Š๐– ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐‹๐ž๐š๐๐ฌ ๐จ๐ฐ๐ข๐ง๐  ๐ญ๐จ ๐ข๐ญ๐ฌ ๐’๐ฎ๐ซ๐ ๐ข๐ง๐  ๐€๐๐จ๐ฉ๐ญ๐ข๐จ๐ง ๐š๐œ๐ซ๐จ๐ฌ๐ฌ ๐‡๐ž๐š๐ฏ๐ฒ ๐Œ๐š๐ซ๐ข๐ญ๐ข๐ฆ๐ž ๐“๐ซ๐š๐ง๐ฌ๐ฉ๐จ๐ซ๐ญ ๐’๐ก๐ข๐ฉ๐ฌ
In terms of motor capacity, the market is segmented into upto 50 KW, 50 KW to 200 KW, and 200 KW to 400 KW. The 200 KW to 400 KW segment is at the forefront due to its adoption in heavy maritime transport ships, fostering segment growth in the marine parallel hybrid propulsion sector.

๐€๐ฌ๐ค ๐Ÿ๐จ๐ซ ๐‚๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐š๐ญ๐ข๐จ๐ง:
https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/marine-parallel-hybrid-propulsion-market-108735

๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐‚๐จ๐ฏ๐ž๐ซ๐š๐ ๐ž
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ ๐š๐ง๐ ๐‘๐ž๐ฌ๐ญ๐ซ๐š๐ข๐ง๐ญ๐ฌ
๐ˆ๐ง๐œ๐ซ๐ž๐š๐ฌ๐ข๐ง๐  ๐ˆ๐ง๐ฏ๐ž๐ฌ๐ญ๐ฆ๐ž๐ง๐ญ๐ฌ ๐ข๐ง ๐„๐ง๐ž๐ซ๐ ๐ฒ-๐ฌ๐š๐ฏ๐ข๐ง๐  ๐“๐ž๐œ๐ก๐ง๐ข๐ช๐ฎ๐ž๐ฌ ๐›๐ฒ ๐’๐ก๐ข๐ฉ๐จ๐ฐ๐ง๐ž๐ซ๐ฌ ๐ญ๐จ ๐…๐จ๐ฌ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ

The adherence to stringent environmental regulations by shipowners is driving marine parallel hybrid propulsion system providers. From 1st January 2023, three new IMO rules were implemented for the reduction of greenhouse gas emissions at sea and the ecological impacts of ships. Increased investments in energy-saving techniques to comply with emission reduction rules have pushed for the adoption of alternate fuels.

Conversely, the high expenses associated with fuel storage and supply systems hinder market growth.

๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ
๐‘๐ข๐ฌ๐ž ๐ข๐ง ๐ˆ๐ง๐ญ๐ž๐ซ๐ง๐š๐ญ๐ข๐จ๐ง๐š๐ฅ ๐“๐ซ๐š๐๐ž ๐๐ซ๐จ๐ฉ๐ž๐ฅ๐ฅ๐ž๐ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐€๐ฌ๐ข๐š ๐๐š๐œ๐ข๐Ÿ๐ข๐œ
Asia Pacific was valued at USD 0.41 billion in 2022 and is poised for expansion due to increased international trade. Government initiatives, such as India's Shipbuilding Financial Assistance Policy, further fuel market growth.
Europe, holding the second-largest marine parallel hybrid propulsion market share in 2022, experiences growth due to stringent emission regulations and rising concerns regarding maritime trade.

๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐ฏ๐ž ๐‹๐š๐ง๐๐ฌ๐œ๐š๐ฉ๐ž
๐‹๐ž๐š๐๐ข๐ง๐  ๐‚๐จ๐ฆ๐ฉ๐š๐ง๐ข๐ž๐ฌ ๐…๐จ๐œ๐ฎ๐ฌ ๐จ๐ง ๐’๐ก๐ข๐ฉ๐›๐ฎ๐ข๐ฅ๐๐ข๐ง๐  ๐€๐œ๐ญ๐ข๐ฏ๐ข๐ญ๐ฒ ๐€๐ฉ๐ฉ๐ซ๐จ๐ฏ๐š๐ฅ๐ฌ ๐ญ๐จ ๐Œ๐š๐ข๐ง๐ญ๐š๐ข๐ง ๐ƒ๐จ๐ฆ๐ข๐ง๐š๐ง๐œ๐ž
Prominent companies such as ABB Ltd., Rolls-Royce Holdings plc, Caterpillar Inc., and others concentrate on obtaining approvals for shipbuilding activities to maintain dominance. The market witnesses fierce competiton due to pressure of delivering marine parallel hybrid propulsion systems for various ships.

๐Š๐ž๐ฒ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ
๐‰๐ฎ๐ฅ๐ฒ ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ‘: Freire Shipyard secured a contract to develop a new ship in collaboration with the French National Institute for Ocean Research IFMERRE. This vessel will become part of France's oceanographic fleet, managed by IFREMER for the benefit of the Scientific Community in France.

๐†๐ž๐ญ ๐š ๐๐ฎ๐จ๐ญ๐ž:
https://www.fortunebusinessinsights.com/enquiry/get-a-quote/marine-parallel-hybrid-propulsion-market-108735

๐‘๐ž๐š๐ ๐‘๐ž๐ฅ๐š๐ญ๐ž๐ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ:
๐Œ๐š๐ซ๐ข๐ง๐ž ๐‡๐ฒ๐›๐ซ๐ข๐ ๐๐ซ๐จ๐ฉ๐ฎ๐ฅ๐ฌ๐ข๐จ๐ง ๐Œ๐š๐ซ๐ค๐ž๐ญ
https://www.fortunebusinessinsights.com/industry-reports/marine-hybrid-propulsion-market-100128
๐€๐ณ๐ข๐ฆ๐ฎ๐ญ๐ก ๐“๐ก๐ซ๐ฎ๐ฌ๐ญ๐ž๐ซ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ
https://www.fortunebusinessinsights.com/azimuth-thrusters-market-103517
๐“๐ฎ๐ ๐›๐จ๐š๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ
https://www.fortunebusinessinsights.com/tugboats-market-108157

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Ocean Engineering Equipment Market Business Opportunities 2026 - Top Companies a โ€ฆ
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 Thisโ€ฆ