Hybrid and Full Electric Marine Propulsion - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Hybrid and Full Electric Marine Propulsion Market is accounted for $3,954.30 million in 2019 and is expected to reach $9,047.37 million by 2027 growing at a CAGR of 10.9% during the forecast period. Some of the key factors propelling the market growth are increasing maritime activities and rising concern about environment conservation. However, stringent regulatory measures are the restraining factors for the growth of the market.
Marine propulsion refers to a system or a mechanism that is utilized in the generation of thrust to propel a boat and ship across water. The arrangement of the whole propulsion system depends on the operation type, system of transport, and size of vessel.
By propulsion type, the full electric vessel segment is expected to grow at a significant market share during the forecast period because of its ability to provide more efficiency. On the basis of geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to the introduction of various technologically advanced systems.
Some of the key players in Hybrid and Full Electric Marine Propulsion Market include Caterpillar, AB Volvo Penta, Rolls Royce, BAE Systems, Wartsila, GE, Cummins, Niigata Power Systems, Torqeedo GmbH, Steyr Motors, Fairbanks Morse Engine, Masson-Marine SAS, and MAN Diesel & Turbo.
Propulsion Types Covered:
• Full Electric Vessel
• Hybrid Vessel
Power Ratings Covered:
• Up to 1 MW
• 1.1-2 MW
• 2.1-3.5 MW
• Above 3.5 MW
• Cruise Ships
• Tugboats & Offshore Service Vessels (OSVs)
• Anchor Handling Tug Supply (AHTS) Vessels
• Platform Supply Vessel (PSV)
• Small Cargo Ships
• Other Vessels
Revolutions Per Minute (RPM) Covered:
• 0-1,000 RPM
• 1,001-2,500 RPM
• Above 2500 RPM
• Less Than 5K Dead Weight Tonnage (DWT)
• 5K-10K Dead Weight Tonnage (DWT)
• More Than 10K Dead Weight Tonnage (DWT)
• Offshore Drilling
End Users Covered:
• Military Ships
• Civil Ships
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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