Press release
Marine Hybrid Propulsion Market is Projected to Bring in US$5.25 bn by the end of 2024
In order to gain competitive edge, prominent players in the global marine hybrid propulsion market are investing in various research and development activities. This is a major factor motivating manufacturing companies to achieve product differentiation, finds Transparency Market Research (TMR) in a new study. As per reports, conventional hybrid propulsion manufacturing companies have continued designing hybrid propulsion for tugs and yachts. In addition, a majority of existing firms are concentrated in Europe, as the region boasts a sophisticated marine infrastructure.
View Full Report:
https://www.transparencymarketresearch.com/marine-hybrid-propulsion-market.html
Despite prevailing competition, companies such as Caterpillar, Inc., and General Electric have established themselves as strong market players. These companies enjoy being at the fore on account of their wide presence across the world and diverse product portfolio. As expansion strategies, mergers and acquiring established regional firms have emerged as popular choice for companies. Also energy-efficient solutions offered by companies such as Siemens AG and BAE Systems have helped them earn considerable boost.
Request to view Sample Report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3911
Overall, the global marine hybrid propulsion market is forecast to exhibit a CAGR of 8.2% between 2016 and 2024. At this pace, the market’s valuation will reach US$5.25 bn by the end of 2024, from US$2.65 bn in 2015. By configuration, diesel-electric systems held dominance with a share of 53.3% in the overall market in 2015. These systems are easy to configure and install, which fuels their demand in the market. Regionally, Europe held the dominant share of 34.60% in the global market in 2015. While the region is forecast to remain lead through the forecast period, soon demand from Asia Pacific will surge, steering shift in focus from Europe to emerging markets.
Marine Hybrid Propulsion Systems to Rank Higher on Account of their Fuel Efficiency
The marine industry is exploring systems ranking high on fuel-efficiency. Indigenous diesel mechanical propulsion systems usually consume the entire volume of installed power to function on a high power operating mode. Contrary to this, marine hybrid propulsion systems are connected to energy storage systems. The paradigm shift from fuel-based conventional systems to marine hybrid propulsion systems is thus steered by the latter’s fuel efficiency and cost-effectiveness. “With an increasing number of ship operators opting for renewable energy over conventional fuel at a storage option, the demand for marine hybrid propulsion systems is poised to surge further in the coming years,” said a lead TMR analyst.
Request to download and view full ToC -
https://www.transparencymarketresearch.com/report-toc/3911
Furthermore, government across the globe have been proactively aiming towards minimizing carbon emission. Stringent regulations implemented in this regard will fuel the installation of hybrid propulsion systems in the marine sector.
Volatility in Crude Oil Prices to Remain a Major Concern
On the downside, the market is still reeling under the volatility of crude oil prices. However, this ongoing price fluctuation has steered the switch from diesel to LNG as the fuel used in propulsion. Furthermore, the relatively low price of natural gas and LNG than conventional fuel in Europe and North America has attracted huge investments in the LNG bunkering infrastructure of these regions. Besides this, the shift from high-carbon to low-carbon emission systems in the marine sector will give considerable impetus to the global marine hybrid propulsion market. Also strict sulfur regulations around ports in Singapore will impel the industry adopt more fuel-efficient technologies, thus giving the market significant impetus.
Global Marine Hybrid Propulsion Market Report is available at US$ 5795 -
http://www.transparencymarketresearch.com/checkout.php?rep_id=3911<ype=S
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: www.transparencymarketresearch.com
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 Marine Hybrid Propulsion Market is Projected to Bring in US$5.25 bn by the end of 2024 here
News-ID: 762043 • Views: …
More Releases from Transparency Market Research
RF Chip Inductor Market Size to Reach over USD 1.8 billion by 2031 - Transparenc …
RF Chip Inductor Market are essential components in various electronic devices, providing inductance and functioning as filters, oscillators, and transformers. They play a crucial role in ensuring the efficiency and performance of RF circuits. With the rapid advancement in telecommunications, consumer electronics, and automotive industries, the demand for RF chip inductors has seen a significant rise. These components are integral in applications such as smartphones, IoT devices, and automotive electronics,…
Solid Tires Market Expected to Witness Impressive Growth at a 8.1% CAGR by 2031
The latest research study released by Transparency Market Research on "Solid Tires Market Forecast to 2023-2031 ″ research provides accurate economic, global, and country-level predictions and analyses.
Solid Tires market is estimated to attain a valuation of US$ 760.0 Mn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 8.1% during…
Automotive Cyber security Market Sales Estimated to Hit USD 10.5 Billion by 2031 …
The latest research study released by Transparency Market Research on "𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐂𝐲𝐛𝐞𝐫 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐭𝐨 𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟏 ″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Automotive Cyber security industry, as…
Ready-mix Concrete Market to Witness Exponential Growth with a CAGR of 6.1% from …
The latest research study released by Transparency Market Research on "𝐑𝐞𝐚𝐝𝐲-𝐦𝐢𝐱 𝐂𝐨𝐧𝐜𝐫𝐞𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐭𝐨 𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟏 ″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Ready-mix Concrete industry, as well as…
More Releases for TMR
Cancer Diagnostics Market Reviews 2031 | TMR Study
According to a Transparency Market Research (TMR) research report, the global cancer diagnostics Market is likely to expand at a CAGR of 7.4% during the forecast period, 2022 to 2031. This suggests that the market is expected to reach US$ 335.7 Bn by the end of 2031.
The study on the cancer diagnostics Market adopts rigorous and systematic research approaches to understand the growth dynamic of the market. The authors have…
LED Work Light Market 2029 | TMR Research
LED Work Light Market: Overview
The LED work light market may gain good momentum in terms of growth across the forecast period of 2019-2029 due to the growing demand from residential segments and the overwhelming benefits it provides. These high-intensity light fixtures are mainly used by technicians to assist them in their work temporarily. The use of LED work lights is increasing among many end-users due to benefits like longevity, durability,…
Dissolved Gas Analyzer Market 2025 | TMR Research
Global Dissolved Gas Analyzer Market: Overview
The high electrical and thermal stress leads to decomposition of mineral oils used inside a power transformer. This in turn leads to generation of hydrogen (H2), carbon di-oxide (CO2), carbon mono-oxide (CO), methane (CH4), ethylene (C2H4), and acetylene (C2H2) among others. The formation of these gases depends upon the faults in the transformer.
To evaluate the nature of the gases and their potential threats, dissolved gas…
Tumblers Market 2028 | TMR Research
The tumblers market is expected to set growth straight with rising demand for new attractive designs for liquors including alcoholic, and non-alcoholic in emerging region of Asia pacific. The rising disposable income, increasing access to quality products, and new product launches customised to suit the taste of the region promise major growth for the tumblers market in near future.
Download Brochure of This Market Report at - https://www.tmrresearch.com/sample/sample?flag=B&rep_id=6200
Among regions, North America,…
Hyperloop Train Market 2025 | TMR Research
Global Hyperloop Train Market: Snapshot
The global market for hyperloop train is likely to exhibit high-speed expansion in the next few years. The demand for cheap and quick modes of transport that incur low base-costs and are built on easier-to-construct infrastructure, are immune to natural calamities such as earthquakes are the key factors expected to work in favor of the global hyperloop train market.
Request Sample Copy of the Report @ https://www.tmrresearch.com/sample/sample?flag=B&rep_id=2000
The…
Crowdsourced Security Market 2018 - 2028 | TMR Research
Crowdsourced Security Market: Overview
The global crowdsourced security market is expected develop at a healthy pace in the coming years of the forecast period of 2018 to 2028. The mobile phone application segment of the crowdsourced security market is expected to develop at a rapid pace in these coming years. The rate of adoption of these mobile application is growing at a great pace and is thus helping the market to…
