Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Hybrid Electric Marine Propulsion Engine Market by Type (Electric Power, Blended Fuel), By Application (Ship, Yacht, Other) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Hybrid Electric Marine Propulsion Engine Market by Type (Electric Power, Blended Fuel), By Application (Ship, Yacht, Other) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 439948 4200 Machinery & Equipment 377 235 Pages 4.8 (31)
                                          

Market Overview:


The global hybrid electric marine propulsion engine market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for fuel-efficient and environment-friendly engines in the maritime sector. Additionally, the growing popularity of hybrid electric marine propulsion engines among shipowners and yacht owners is also contributing to the growth of this market. The global hybrid electric marine propulsion engine market can be segmented on the basis of type into electric power and blended fuel. The electric power segment is expected to account for a larger share of the global market than blended fuel during the forecast period. This can be attributed to factors such as lower emissions and higher efficiency offered by electric power systems compared with blended fuel systems. On the basis of application,the global hybrid electric marine propulsion enginemarket can be divided into ships, yachts, and other applications such as ferries and tugboats.


Global Hybrid Electric Marine Propulsion Engine Industry Outlook


Product Definition:


A hybrid electric marine propulsion engine is a type of engine that uses both a gasoline or diesel fuel and an electric motor to power a boat. This type of engine is becoming more popular because it is more fuel efficient than traditional engines and it produces less emissions.


Electric Power:


Electric power is the energy that drives an engine. It can be generated by chemical reactions, nuclear reactions or solar panels. The electric power used in marine propulsion engines comes from a variety of sources such as diesel generators, photovoltaic cells or wind turbines which are converted to direct and alternating current through a rectifier.


Blended Fuel:


Blended fuel is a mixture of diesel and gasoline which is used in marine propulsion engines. It reduces the amount of harmful emissions into the atmosphere as compared to traditional fuel, while providing an economical alternative for shipping companies.


The U.S has implemented regulations on vessel engines that require less than 10% bio-methanol content in blended fuels, with a minimum volume requirement set by each state individually (for example: California requires 75% ethanol).


Application Insights:


The ship application segment accounted for the largest revenue share of over 60% in 2017. The segment is driven by growing demand for ships with enhanced passenger comfort, speed and safety. Hybrid electric marine propulsion engines offer a number of benefits including reduced fuel consumption, lower operational cost and emissions as compared to conventional diesel or gas turbine engines.


The yacht application segment is expected to witness significant growth over the forecast period owing to rising disposable income among consumers globally. Increasing spending on yachts by individuals from emerging economies such as China, India and Brazil has resulted in growing demand for hybrid electric marine propulsion systems from international yacht manufacturers like Benetti; Royal Huisman; M/Y Atlantic stella; M/Y Azzurra d'Oro by Lürssen; and others.


Regional Analysis:


Asia Pacific regional market accounted for the largest revenue share in 2017. The region is expected to maintain its lead over the forecast period owing to growing demand from countries, such as China and India. In addition, increasing adoption of electric powerboats in European countries is also likely to drive the growth of this regional market. North America and Europe are anticipated to witness steady growth over the next eight years due to stringent regulations regarding emission control and fuel efficiency by U.S EPA (Environmental Protection Agency) and EU (European Union).


The Latin American regional market also presents significant opportunities for industry participants owing their large marine recreational sector coupled with improving economic conditions in Brazil, Argentina & Chile among others which are driving investments towards watercraft usage including yachts & other vessels propelled by hybrid electric engines.


Growth Factors:


  • Increasing demand for fuel-efficient and environment-friendly marine propulsion engines
  • Growing popularity of hybrid electric marine propulsion systems among ship owners and operators
  • Proliferation of new hybrid electric marine propulsion engine designs and technologies
  • Rising concerns over air pollution from traditional diesel engines in coastal areas and ports
  • Growing investments in research & development (R&D) activities for hybrid electric marine propulsion engines

Scope Of The Report

Report Attributes

Report Details

Report Title

Hybrid Electric Marine Propulsion Engine Market Research Report

By Type

Electric Power, Blended Fuel

By Application

Ship, Yacht, Other

By Companies

Caterpillar, MAN Diesel & Turbo, Mitsubishi Heavy Industries, Rolls-Royce, Wartsila

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year

2021

Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year

2030

Number of Pages

235

Number of Tables & Figures

165

Customization Available

Yes, the report can be customized as per your need.


Global Hybrid Electric Marine Propulsion Engine Market Report Segments:

The global Hybrid Electric Marine Propulsion Engine market is segmented on the basis of:

Types

Electric Power, Blended Fuel

The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.

Applications

Ship, Yacht, Other

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

  1. Caterpillar
  2. MAN Diesel & Turbo
  3. Mitsubishi Heavy Industries
  4. Rolls-Royce
  5. Wartsila

Global Hybrid Electric Marine Propulsion Engine Market Overview


Highlights of The Hybrid Electric Marine Propulsion Engine Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Electric Power
    2. Blended Fuel
  1. By Application:

    1. Ship
    2. Yacht
    3. Other
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Hybrid Electric Marine Propulsion Engine Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

How you may use our products:

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  • Consumer Insights
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Global Hybrid Electric Marine Propulsion Engine Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?


A hybrid electric marine propulsion engine is a type of marine engine that uses both diesel and electric power sources. The diesel power source helps to provide the engine with more torque and horsepower, while the electric power source helps to reduce fuel consumption.

Some of the key players operating in the hybrid electric marine propulsion engine market are Caterpillar, MAN Diesel & Turbo, Mitsubishi Heavy Industries, Rolls-Royce, Wartsila.

                                            
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Hybrid Electric Marine Propulsion Engine Market Overview    4.1 Introduction       4.1.1 Market Taxonomy       4.1.2 Market Definition       4.1.3 Macro-Economic Factors Impacting the Market Growth    4.2 Hybrid Electric Marine Propulsion Engine Market Dynamics       4.2.1 Market Drivers       4.2.2 Market Restraints       4.2.3 Market Opportunity    4.3 Hybrid Electric Marine Propulsion Engine Market - Supply Chain Analysis       4.3.1 List of Key Suppliers       4.3.2 List of Key Distributors       4.3.3 List of Key Consumers    4.4 Key Forces Shaping the Hybrid Electric Marine Propulsion Engine Market       4.4.1 Bargaining Power of Suppliers       4.4.2 Bargaining Power of Buyers       4.4.3 Threat of Substitution       4.4.4 Threat of New Entrants       4.4.5 Competitive Rivalry    4.5 Global Hybrid Electric Marine Propulsion Engine Market Size & Forecast, 2020-2028       4.5.1 Hybrid Electric Marine Propulsion Engine Market Size and Y-o-Y Growth       4.5.2 Hybrid Electric Marine Propulsion Engine Market Absolute $ Opportunity

Chapter 5 Global  Market Analysis and Forecast by Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Type
      5.1.2 Basis Point Share (BPS) Analysis by Type
      5.1.3 Absolute $ Opportunity Assessment by Type
   5.2  Market Size Forecast by Type
      5.2.1 Electric Power
      5.2.2 Blended Fuel
   5.3 Market Attractiveness Analysis by Type

Chapter 6 Global  Market Analysis and Forecast by Applications
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Applications
      6.1.2 Basis Point Share (BPS) Analysis by Applications
      6.1.3 Absolute $ Opportunity Assessment by Applications
   6.2  Market Size Forecast by Applications
      6.2.1 Ship
      6.2.2 Yacht
      6.2.3 Other
   6.3 Market Attractiveness Analysis by Applications

Chapter 7 Global Hybrid Electric Marine Propulsion Engine Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Hybrid Electric Marine Propulsion Engine Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America  Analysis and Forecast
   9.1 Introduction
   9.2 North America  Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America  Market Size Forecast by Type
      9.6.1 Electric Power
      9.6.2 Blended Fuel
   9.7 Basis Point Share (BPS) Analysis by Type 
   9.8 Absolute $ Opportunity Assessment by Type 
   9.9 Market Attractiveness Analysis by Type
   9.10 North America  Market Size Forecast by Applications
      9.10.1 Ship
      9.10.2 Yacht
      9.10.3 Other
   9.11 Basis Point Share (BPS) Analysis by Applications 
   9.12 Absolute $ Opportunity Assessment by Applications 
   9.13 Market Attractiveness Analysis by Applications

Chapter 10 Europe  Analysis and Forecast
   10.1 Introduction
   10.2 Europe  Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe  Market Size Forecast by Type
      10.6.1 Electric Power
      10.6.2 Blended Fuel
   10.7 Basis Point Share (BPS) Analysis by Type 
   10.8 Absolute $ Opportunity Assessment by Type 
   10.9 Market Attractiveness Analysis by Type
   10.10 Europe  Market Size Forecast by Applications
      10.10.1 Ship
      10.10.2 Yacht
      10.10.3 Other
   10.11 Basis Point Share (BPS) Analysis by Applications 
   10.12 Absolute $ Opportunity Assessment by Applications 
   10.13 Market Attractiveness Analysis by Applications

Chapter 11 Asia Pacific  Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific  Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific  Market Size Forecast by Type
      11.6.1 Electric Power
      11.6.2 Blended Fuel
   11.7 Basis Point Share (BPS) Analysis by Type 
   11.8 Absolute $ Opportunity Assessment by Type 
   11.9 Market Attractiveness Analysis by Type
   11.10 Asia Pacific  Market Size Forecast by Applications
      11.10.1 Ship
      11.10.2 Yacht
      11.10.3 Other
   11.11 Basis Point Share (BPS) Analysis by Applications 
   11.12 Absolute $ Opportunity Assessment by Applications 
   11.13 Market Attractiveness Analysis by Applications

Chapter 12 Latin America  Analysis and Forecast
   12.1 Introduction
   12.2 Latin America  Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America  Market Size Forecast by Type
      12.6.1 Electric Power
      12.6.2 Blended Fuel
   12.7 Basis Point Share (BPS) Analysis by Type 
   12.8 Absolute $ Opportunity Assessment by Type 
   12.9 Market Attractiveness Analysis by Type
   12.10 Latin America  Market Size Forecast by Applications
      12.10.1 Ship
      12.10.2 Yacht
      12.10.3 Other
   12.11 Basis Point Share (BPS) Analysis by Applications 
   12.12 Absolute $ Opportunity Assessment by Applications 
   12.13 Market Attractiveness Analysis by Applications

Chapter 13 Middle East & Africa (MEA)  Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA)  Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA)  Market Size Forecast by Type
      13.6.1 Electric Power
      13.6.2 Blended Fuel
   13.7 Basis Point Share (BPS) Analysis by Type 
   13.8 Absolute $ Opportunity Assessment by Type 
   13.9 Market Attractiveness Analysis by Type
   13.10 Middle East & Africa (MEA)  Market Size Forecast by Applications
      13.10.1 Ship
      13.10.2 Yacht
      13.10.3 Other
   13.11 Basis Point Share (BPS) Analysis by Applications 
   13.12 Absolute $ Opportunity Assessment by Applications 
   13.13 Market Attractiveness Analysis by Applications

Chapter 14 Competition Landscape 
   14.1 Hybrid Electric Marine Propulsion Engine Market: Competitive Dashboard
   14.2 Global Hybrid Electric Marine Propulsion Engine Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 Caterpillar
      14.3.2 MAN Diesel & Turbo
      14.3.3 Mitsubishi Heavy Industries
      14.3.4 Rolls-Royce
      14.3.5 Wartsila

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