The Global Marine Hybrid Propulsion Market Report by The Business Research Company covers marine hybrid propulsion market drivers and restraints, marine hybrid propulsion market size, major players, and the impact of COVID-19 on the marine hybrid propulsion market.
The marine hybrid propulsion market consists of sales of marine hybrid propulsion systems by entities (organizations, sole traders, and partnerships) that manufacture marine hybrid propulsion systems. Hybrid propulsion is a propulsion system for a vehicle that involves two or more sources of propulsion in one design usually that can be used collectively or alternately. Hybrid propulsion improves the fuel efficiency of vessels with variable power demand such as tug boats, fishing vessels, and others.
The global marine hybrid propulsion market is expected to grow from $2.88 billion in 2020 to $3.10 billion in 2021 at a compound annual growth rate (CAGR) of 7.5%. The growth in the marine hybrid propulsion market is mainly due to the increase in international trade, expanding shipbuilding industry, rising demand for electric propulsion technology, and rising shift from conventional to hybrid propulsion units. The market is expected to reach $5.02 billion in 2025 at a CAGR of 12.8%.
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Some marine hybrid propulsion market trends include the launch of integrated propulsion systems. Major players operating in the marine hybrid propulsion field are focusing on introducing new hybrid propulsion systems to improve performance, environmental compatibility, and propulsion system versatility.
Global marine hybrid propulsion market segments include:
1) By Propulsion Type: By Propulsion Type, Diesel-Electric, Parallel Hybrid, Serial Hybrid, Full Electric, Gas Turbine, Fuel Cell
2) By Ship Type: Anchor Handling Tug Supply Vessels, Platform Supply Vessels, Yachts, Motor Ferry, Cruise Liner, Others
3) By Power Rating: 0-300 KW, 301-500KW, 501KW-800KW
4) By Application: Commercial, Logistics, Offshore Drilling, Naval, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Europe accounts for the largest global marine hybrid propulsion market share.
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The Marine Hybrid Propulsion Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides marine hybrid propulsion market overviews, analyzes and forecasts market size, share, marine hybrid propulsion market players, marine hybrid propulsion market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The marine hybrid propulsion identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Marine Hybrid Propulsion Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: BAE Systems, Schottel, MAN Energy Solutions, Siemens, ABB Ltd, General Electric Company, Steyr Motors, Mitsubishi Heavy Industries, Torqeedo, and Wartsila Corporation.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Marine Hybrid Propulsion Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Marine Hybrid Propulsion Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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