Press release
Marine Hybrid Propulsion Market to Reflect a Significant CAGR of 8.2% between 2016 and 2024
View Full Report TOC, Figures and Tables @
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 Brochure of the Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=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.
Checkout page @ http://www.transparencymarketresearch.com/checkout.php?rep_id=3911
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 to Reflect a Significant CAGR of 8.2% between 2016 and 2024 here
News-ID: 789284 • Views: …
More Releases from Transparecny Market Research
HAZMAT Packaging Market Share, Trends, Growth, Forecast By 2027
The global HAZMAT Packaging Market is estimated to flourish at a CAGR of 5.8% from 2024 to 2027.
The overall HAZMAT Packaging industry delivers an in-depth systematic framework and competitive outlook of the HAZMAT Packaging Market from a worldwide perspective. The report starts with a summary of the market, chain structure, and the past as well as current market size. Also, the growth opportunities prevalent in the market in the coming…
Push Pull Closures Market Will Generate New Growth Opportunities by 2027 with To …
The global Push Pull Closures Market is estimated to flourish at a CAGR of 4.8% from 2024 to 2027.
The overall Push Pull Closures industry delivers an in-depth systematic framework and competitive outlook of the Push Pull Closures Market from a worldwide perspective. The report starts with a summary of the market, chain structure, and the past as well as current market size. Also, the growth opportunities prevalent in the market…
PET Preform Machines Market Estimated to Touch USD 14.1 billion at a CAGR of 6.0 …
The global PET Preform Machines Market has been sailing through robust waters, witnessing a valuation of US$ 8.3 Bn 2022. As we set our sights on the horizon, the market is poised to embark on a journey of steady growth, with a projected Compound Annual Growth Rate (CAGR) of 6.0% from 2023 to 2031. By the end of 2031, the industry is expected to anchor at an impressive US$ 14.1…
Flexible Packaging Paper Market Share, Trends, Growth, Forecast By 2029
The global Flexible Packaging Paper Market has been sailing through robust waters, witnessing a valuation of US$ 47.5 Bn 2021. As we set our sights on the horizon, the market is poised to embark on a journey of steady growth, with a projected Compound Annual Growth Rate (CAGR) of 4.1% from 2023 to 2029. By the end of 2029, the industry is expected to anchor at an impressive US$ 65.2…
More Releases for TMR
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,…
TMR Research
Global 3D Animation Market: Snapshot
The evolution and introduction of three-dimensional (3D) animation has given the world of animation a new perspective. The process of creating 3D moving images in a digital space through objects or models has given these illusions depth. One of the most fundamental differences between 2D animation and 3D animation is the technique used for creating the images and the way they look. The global 3D animation…
TMR
Various strategies are leveraged by success-hungry players in the global hyperbaric oxygen therapy devices market. One of them is the thrust on research and development to come up with new or better products. Their focus is on building cost-effective medical devices that would see greater uptake. Strategic partnerships are also being undertaken by them to diversify product portfolios and gain greater share. Further, companies are shifting their gaze to developing…
Monolithic Ceramics Market Analysis : TMR
Transparency Market Research has published a new market report titled “Monolithic Ceramics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, the global monolithic ceramics market was valued at US$ 19.43 Bn in 2014 and is anticipated to reach US$ 36.64 Bn by 2023, expanding at a CAGR of 7.3% between 2015 and 2023.
Request to view Sample Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3158
Monolithic ceramics are…
Wax Market Analysis : TMR
A recent research report published by Transparency Market Research projects the global wax market to expand at a CAGR of 2.6% during the period between 2014 and 2020. The report, titled “Wax Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” estimates the global wax market to be worth US$8.98 bn by 2020. The overall market stood at a valuation of US$8.21 bn in 2013…
Sulfone Polymers Market Analysis : TMR
Global Sulfone Polymers Market: Snapshot
Several grades/varieties of sulfone polymers have gained vast applicability across a number of industries in the past few years. The relatively higher level of resistance wear and corrosion provided by these materials as compared to metals have increased their usage in medical devices and implants. Owing to their high transparency resistance, low weight, and high performance, the demand for sulfone polymers is also rising in the…
