Marine Hybrid Propulsion Market Report Highlighting Industry Growth Drivers with Current and Upcoming Trends Analysis by 2030

Marine propulsion is a device or method for generating the force for a ship or boat to travel over water. The design of a propulsion system relies on the scale, transport, and service of the ship. A familiar example of the marine propulsion system is Diesel Marine. In almost all categories of boats, such as tugboats, cruise ships, sailboats, security ships, and leisure ships, hybrid systems such as diesel-electric maritime propulsions are used. In a complete electric sea launch system, the engine is explicitly connected to the generator. The overall performance of the vessel is increased by full electric marine propulsion. By this, the environmental cost is also reduced. The full marine electrical launch system requires a range of motors and generators. The generator and electric engine transfer electric power from the motor to the propeller shaft.

Global Marine Hybrid Propulsion Market is anticipated to exceed USD billion by 2030. The global Marine Hybrid Propulsion market is estimated to grow on the back of the following reasons. Factor such as an increase in worldwide ship sales and development and expansion in global trade in maritime is the main element leading to the expansion of the hybrid marine propulsion industry. In addition, growing demand from developing countries for energy sources such as coal, petroleum products, iron, and steel drives market development. The increased use of inland waterways and technical developments such as the advanced fuel propulsion engine is expected to provide many new product opportunities and drive growth in the hybrid marine propulsion industry.

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  • Market size & share analysis
  • Top market players with sales, revenue, and business strategies analysis
  • Market growth drivers and restraints
  • Market opportunities & challenges
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Key Players

  • General Electric Company (U.S.)
  • Mitsubishi Heavy Industries
  • Torqeedo GmbH (Germany)
  • MAN Diesel & Turbo SE (Germany)
  • Siemens AG (Germany)
  • Rolls-Royce plc (U.K.)
  • Caterpillar Inc. (U.S.)
  • ABB Ltd. (Switzerland)
  • Schottel GmbH (Germany)
  • BAE Systems (U.K)
  • Other prominent players

Global Marine Hybrid Propulsion Market: Segments

Global Marine Hybrid Propulsion Market has been segmented based on type, and by ship type. It has been further segmented on the basis of region into North America, Europe, Asia-Pacific, Mid East, and Africa.

By Type (in % ), Global Marine Hybrid Propulsion Market, 2019

The diesel-electric processor segment is anticipated to register of the volume share and is expected to grow at the highest CAGR.

Based on the type the market is bifurcated into: gas-electric, diesel-electric, and others.

A familiar example of the marine propulsion system is Diesel Marine. In almost all categories of boats, such as tugboats, cruise ships, sailboats, security ships, and leisure ships, hybrid systems such as diesel-electric maritime propulsions are used. It is expected that a diesel-electric system will have a significant share of the market for the marine hybrid launch system by 2030. The highly efficient propeller’s silent propulsion function is responsible for the powerful position of this category. Its installation in the new ship is also cost-effective.

By Ship Type (in %), Global Marine Hybrid Propulsion Market, 2019

Defense segment is anticipated to register of the volume share

Based on the ship type the market is bifurcated into: Commercial, and Defense. The attribute to this growth can be explained by the rising demand by naval forces from various countries for various types of ships. Moreover, the growth of the market protection category is anticipated to drive the increased requirement for equipment of naval ships with modified anti-submarine warfare (ASW) systems.

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Global Marine Hybrid Propulsion Market: Market Dynamics

Drivers

Oil and Gas exploration and other resources

Oil and gas exploration activities are being increased globally as oil and gas demand rises. Growing demand from developing countries for energy sources such as coal, petroleum products, iron, and steel drives market development. The increased use of inland waterways and technical developments such as the advanced fuel propulsion engine is expected to provide many new product opportunities and drive growth in the hybrid marine propulsion industry.

Restraints

High cost

The increased cost to create and implement such systems will to some degree limit the market growth. Besides, alternative battery storage for energy storage is required for these applications. That often leads to a high cost for the carrier. In order to incorporate a marine hybrid propulsion system, a high degree of precautions is also needed. These factors may have a negative effect on the market.

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Global Marine Hybrid Propulsion Market Report also contains an analysis on:

Marine Hybrid Propulsion Market by segment:

    • By Ship Type:
      • Commercial
      • Defense
    • By Type:
      • Gas-electric
      • Diesel-electric
      • others

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