Market Overview:
The global marine hybrid propulsion system market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for fuel-efficient and environment-friendly systems in the maritime sector. In addition, the growing popularity of hybrid systems among vessel operators is also contributing to the growth of this market. Based on type, the global marine hybrid propulsion system market can be segmented into less than 5K DWT, 5K-10K DWT, and more than 10K DWT segments. The less than 5K DWT segment is projected to register highest CAGR during the forecast period owing to increasing demand for small vessels that consume low fuel and emit low emissions. Based on application, logistics is expected to account for largest share of global marine hybrid propulsion system market in 2018 followed by offshore drilling and others segments respectively.
Product Definition:
A marine hybrid propulsion system (MHPS) is a propulsion system for ships and boats that combines two or more types of power sources, such as diesel engines and electric motors. The term "hybrid" can refer to the use of more than one type of energy source (e.g. diesel-electric), or to the combining of two different technologies (e.g. gas turbine and electric motor).
Less Than 5K DWT:
The global less than 5K DWT market size was valued at USD 1.6 billion in 2016 and is expected to grow at a CAGR of XX% over the forecast period. The growing demand for hybrid propulsion systems from commercial shipping industry is anticipated to drive the growth of this market during the forecast period.
Growing marine trade across various regions has led to an increase in demand for efficient.
5K-10K DWT:
It includes more than 5,000 terms that have been categorized into 10 topical categories. The main aim of this project is to provide writers with relevant and useful material so that they can produce error free content in minimal time.
Application Insights:
The logistics application segment accounted for the largest revenue share of over 30% in 2017. The segment is expected to witness significant growth during the forecast period owing to rising demand for efficient and fuel-efficient ships. Hybrid propulsion systems are considered as an effective solution for medium-sized and large container ships, because they offer a more economical way of traveling compared with conventional steam turbine engines.
The offshore drilling application segment is expected to witness considerable growth over the forecast period due to increasing demand from various end users such as oil & gas companies, national oil companies (NOCs) and others. Drilling vessels are used in deepwater drilling activities that require high power output from hybrid propulsions systems while operating at extreme depths below the water surface. These vessels also require strong resistance against harsh environments such as freezing temperatures, corrosive seawater and high G forces acting on board during operations at great distances fromshore.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The region’s growth can be attributed to increasing offshore drilling activities in countries, such as China and India. In addition, rising energy demand from emerging economies in Southeast Asia is anticipated to drive hybrid propulsion system adoption across the region.
The North America market for marine hybrid propulsion systems was valued at USD X million in 2017 and is projected to grow at a CAGR of XX% over the forecast period owing to growing offshore drilling activities along with advancements in water treatment processes that are requiring large amounts of freshwater intake facilities for power generation purposes. In addition, rising oil & gas exploration activities off the coast of Mexico are further anticipated fuel market growth over coming years.
Europe accounted for a significant share within global marine hybrid propulsion system industry by revenue.
Growth Factors:
- Increasing demand for fuel-efficient and environment-friendly vessels
- Government initiatives for promoting the use of hybrid propulsion systems in marine vessels
- Development of advanced and more efficient hybrid propulsion systems
- Growing popularity of electric vehicles and their components
- Rising demand for maritime transportation
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine Hybrid Propulsion System Market Research Report
By Type
Less Than 5K DWT, 5K-10K DWT, More Than 10K DWT
By Application
Logistics, Offshore Drilling, Others
By Companies
General Electric, Siemens, Caterpillar, BAE Systems, Wartsila, Mitsubishi Heavy Industries, Torqeedo, Steyr Motors, ABB, MAN Diesel & Turbo, Schottel
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
157
Number of Tables & Figures
110
Customization Available
Yes, the report can be customized as per your need.
Global Marine Hybrid Propulsion System Market Report Segments:
The global Marine Hybrid Propulsion System market is segmented on the basis of:
Types
Less Than 5K DWT, 5K-10K DWT, More Than 10K DWT
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
Logistics, Offshore Drilling, Others
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:
- General Electric
- Siemens
- Caterpillar
- BAE Systems
- Wartsila
- Mitsubishi Heavy Industries
- Torqeedo
- Steyr Motors
- ABB
- MAN Diesel & Turbo
- Schottel
Highlights of The Marine Hybrid Propulsion System 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:
- Less Than 5K DWT
- 5K-10K DWT
- More Than 10K DWT
- By Application:
- Logistics
- Offshore Drilling
- Others
- 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 Marine Hybrid Propulsion System 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
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
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 Marine Hybrid Propulsion System (MHPS) is a type of propulsion system that combines both diesel and electric engines. This system allows vessels to travel at high speeds while using less fuel, which reduces the amount of pollution they produce.
Some of the major players in the marine hybrid propulsion system market are General Electric, Siemens, Caterpillar, BAE Systems, Wartsila, Mitsubishi Heavy Industries, Torqeedo, Steyr Motors, ABB, MAN Diesel & Turbo, Schottel.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Marine Hybrid Propulsion System 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 Marine Hybrid Propulsion System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Marine Hybrid Propulsion System 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 Marine Hybrid Propulsion System 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 Marine Hybrid Propulsion System Market Size & Forecast, 2018-2028
4.5.1 Marine Hybrid Propulsion System Market Size and Y-o-Y Growth
4.5.2 Marine Hybrid Propulsion System Market Absolute $ Opportunity
Chapter 5 Global Marine Hybrid Propulsion System 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 Marine Hybrid Propulsion System Market Size Forecast by Type
5.2.1 Less Than 5K DWT
5.2.2 5K-10K DWT
5.2.3 More Than 10K DWT
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Marine Hybrid Propulsion System 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 Marine Hybrid Propulsion System Market Size Forecast by Applications
6.2.1 Logistics
6.2.2 Offshore Drilling
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Marine Hybrid Propulsion System 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 Marine Hybrid Propulsion System 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 Marine Hybrid Propulsion System Analysis and Forecast
9.1 Introduction
9.2 North America Marine Hybrid Propulsion System 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 Marine Hybrid Propulsion System Market Size Forecast by Type
9.6.1 Less Than 5K DWT
9.6.2 5K-10K DWT
9.6.3 More Than 10K DWT
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 Marine Hybrid Propulsion System Market Size Forecast by Applications
9.10.1 Logistics
9.10.2 Offshore Drilling
9.10.3 Others
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 Marine Hybrid Propulsion System Analysis and Forecast
10.1 Introduction
10.2 Europe Marine Hybrid Propulsion System 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 Marine Hybrid Propulsion System Market Size Forecast by Type
10.6.1 Less Than 5K DWT
10.6.2 5K-10K DWT
10.6.3 More Than 10K DWT
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 Marine Hybrid Propulsion System Market Size Forecast by Applications
10.10.1 Logistics
10.10.2 Offshore Drilling
10.10.3 Others
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 Marine Hybrid Propulsion System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Marine Hybrid Propulsion System 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 Marine Hybrid Propulsion System Market Size Forecast by Type
11.6.1 Less Than 5K DWT
11.6.2 5K-10K DWT
11.6.3 More Than 10K DWT
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 Marine Hybrid Propulsion System Market Size Forecast by Applications
11.10.1 Logistics
11.10.2 Offshore Drilling
11.10.3 Others
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 Marine Hybrid Propulsion System Analysis and Forecast
12.1 Introduction
12.2 Latin America Marine Hybrid Propulsion System 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 Marine Hybrid Propulsion System Market Size Forecast by Type
12.6.1 Less Than 5K DWT
12.6.2 5K-10K DWT
12.6.3 More Than 10K DWT
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 Marine Hybrid Propulsion System Market Size Forecast by Applications
12.10.1 Logistics
12.10.2 Offshore Drilling
12.10.3 Others
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) Marine Hybrid Propulsion System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Marine Hybrid Propulsion System 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) Marine Hybrid Propulsion System Market Size Forecast by Type
13.6.1 Less Than 5K DWT
13.6.2 5K-10K DWT
13.6.3 More Than 10K DWT
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) Marine Hybrid Propulsion System Market Size Forecast by Applications
13.10.1 Logistics
13.10.2 Offshore Drilling
13.10.3 Others
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 Marine Hybrid Propulsion System Market: Competitive Dashboard
14.2 Global Marine Hybrid Propulsion System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 General Electric
14.3.2 Siemens
14.3.3 Caterpillar
14.3.4 BAE Systems
14.3.5 Wartsila
14.3.6 Mitsubishi Heavy Industries
14.3.7 Torqeedo
14.3.8 Steyr Motors
14.3.9 ABB
14.3.10 MAN Diesel & Turbo
14.3.11 Schottel
