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.
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:
- Caterpillar
- MAN Diesel & Turbo
- Mitsubishi Heavy Industries
- Rolls-Royce
- Wartsila
Highlights of The Hybrid Electric Marine Propulsion Engine Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Electric Power
- Blended Fuel
- By Application:
- Ship
- Yacht
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- 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:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- 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