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Hybrid and Full Electric Marine Propulsion - Global Market Outlook (2019-2027)

Hybrid and Full Electric Marine Propulsion - Global Market Outlook (2019-2027)

4.5 (65 reviews)
Published: June 2020 ID: SMRC19293
4.5 (65 reviews)
Published: June 2020 ID: SMRC19293

This report covers the impact of COVID-19 on this global market

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

Vessels Covered:
• Cruise Ships
• Ferries
• Tugboats & Offshore Service Vessels (OSVs)
• Yachts
• Anchor Handling Tug Supply (AHTS) Vessels
• Submarines
• 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

Deadweights Covered:
• Less Than 5K Dead Weight Tonnage (DWT)
• 5K-10K Dead Weight Tonnage (DWT)
• More Than 10K Dead Weight Tonnage (DWT)

Applications Covered:
• Offshore Drilling
• Commercial
• Logistics

End Users Covered:
• Military Ships
• Civil Ships

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK 
o Spain
o Rest of Europe      
• Asia Pacific
o Japan       
o China       
o India       
o Australia       
o New Zealand      
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
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

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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