Marine Hybrid Propulsion Market Share, Size, Trends, and Forecast by 2031

MARKET INTRODUCTION

Not only for electric vehicle drive systems, but also for the marine market, hybrid drive technology is of concern. There is space for replacing proven diesel mechanical drives with modern drive concepts in this field. This is exacerbated by fossil fuel costs and strict ocean-level pollution requirements. The hybrid drive concept includes the possibility to achieve lower real fuel consumption by changing power and rpm. This, especially on the partial load can have a major effect. Leading to continuous advancements in the marine industry coupled with rising ship-owner desires for high fuel efficiency features, the marine hybrid propulsion system industry is projected to have tremendous advances over the forecast period.

MARKET DYNAMICS

Transition to drive the global marine hybrid propulsion industry from traditional to hybrid propulsion units and the ongoing progress in the marine is driving the growth of the marine hybrid propulsion market. However, growing global warming issues triggered by fossil fuel may restrain the growth of the marine hybrid propulsion market. Furthermore, increased budget for defense by various developing economies is further anticipated to create market opportunities for the marine hybrid propulsion market during the forecast period.

MARKET SCOPE

The "Global Marine Hybrid Propulsion Market Analysis to 2031" is a specialized and in-depth study of the marine hybrid propulsion market with a special focus on the global market trend analysis. The report aims to provide an overview of marine hybrid propulsion market with detailed market segmentation by type, power rating and application, and geography. The global marine hybrid propulsion market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading marine hybrid propulsion market players and offers key trends and opportunities in the marine hybrid propulsion market.

MARKET SEGMENTATION

The global marine hybrid propulsion market is segmented on the basis of propulsion type, power rating and application. On the basis of propulsion type, the market is segmented as diesel-electric, parallel hybrid, serial hybrid, full electric, gas turbine, and fuel cell. Similarly, on the basis of power rating, the market is segmented as 0-300 KW, 301-500 KW, 501-800 KW. Further on basis of application, the market is segmented as commercial, logistics, offshore drilling, and naval.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global marine hybrid propulsion market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The marine hybrid propulsion market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting marine hybrid propulsion market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive Porter's five forces analysis highlighting factors affecting the marine hybrid propulsion market in these regions.

MARKET PLAYERS

The reports cover key developments in the marine hybrid propulsion market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from marine hybrid propulsion market are anticipated to lucrative growth opportunities in the future with the rising demand for marine hybrid propulsion market. Below mentioned is the list of few companies engaged in the marine hybrid propulsion market.

The report also includes the profiles of key marine hybrid propulsion market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

•   ABB
  
•   BAE Systems
  
•   Caterpillar
  
•   General Electric
  
•   Mitsubishi Heavy Industries
  
•   Schottel Group
  
•   Siemens
  
•   STEYR MOTORS GmbH
  
•   Torqeedo GmbH
  
•   Wärtsilä
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Marine Hybrid Propulsion Report Scope