Market Overview:
The global renewable propulsion for marine vessels market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for environment-friendly and fuel-efficient marine vessels across the globe. In addition, the increasing focus on reducing greenhouse gas emissions is also propelling the growth of this market. The natural gas ship propulsion system segment is expected to hold a dominant position in the global renewable propulsion for marine vessels market during the forecast period from 2018 to 2030. This segment is anticipated to be driven by stringent environmental regulations pertaining to emissions and rising demand for LNG as a fuel source across different applications such as passenger ships and cargo ships.
Product Definition:
Renewable propulsion for marine vessels is a system that uses renewable energy sources to power a vessel. This can include solar, wind, or hydrogen fuel cells. Renewable propulsion is important because it reduces emissions and helps protect the environment. It also can help reduce costs by using sustainable energy sources.
Natural Gas Ship Propulsion System:
Natural gas ship propulsion system (NGSPS) is a hybrid propulsion system that uses both diesel and natural gas as fuel. It has the ability to reduce harmful emissions, lower operating costs & provide reliable power for marine vessels.
Wind Ship Propulsion System:
The global wind ship propulsion system and it's usage in renewable propulsion for marine vessels market size was valued at USD 1.6 billion in 2016. The growing demand for clean energy coupled with the depletion of fossil fuel reserves is expected to be a key factor driving the industry growth over the forecast period.
Increasing government initiatives towards adopting renewable sources of energy is also anticipated to boost product demand over the next seven years.
Application Insights:
Passenger ship application segment led the global renewable propulsion for marine vessels market in 2017 and is projected to continue leading over the forecast period. Increasing demand for cruise tourism across various regions has resulted in growing need for passenger ships, which is anticipated to propel growth over the coming years.
The cargo ship application segment accounted for a significant share of revenue on account of rising demand from manufacturing industries across various regions coupled with increasing penetration of containerization as a logistics solution. Growing industrialization, particularly in developing countries such as India and China, has led to increased requirement of heavy-duty ships from manufacturing industries that are expected to further fuel product demand over the coming years.
Growing importance attached by governments worldwide towards reducing greenhouse gas emissions coupled with increasing awareness regarding clean energy sources such as solar.
Regional Analysis:
Europe was the largest regional market in 2017 owing to the presence of a large number of ship owners and operators. The European Commission has introduced several policies, such as subsidies for marine renewable energy sources and innovative financing instruments, which is expected to boost the growth over the forecast period. Asia Pacific is projected to be one of the fastest-growing regions due to increasing government support for developing renewable energy infrastructure in countries like China and India. Moreover, growing awareness regarding clean energy technologies among end users will drive regional growth over next eight years.
North America accounted for more than 15% share in 2017 owing to high adoption rate of natural gas propelled vessels along with stringent regulations by U.S EPA concerning carbon emissions from diesel engines on ships operating within U S waters (Alaska).
Growth Factors:
- Increasing demand for marine vessels for commercial and recreational purposes
- Stringent environmental regulations to reduce emissions from maritime vessels
- Rising fuel prices and the need to reduce operating costs of marine vessels
- Development of new technologies and materials that improve the efficiency of renewable propulsion systems for marine vessels
- Growing interest in sustainable shipping practices
Scope Of The Report
Report Attributes
Report Details
Report Title
Renewable Propulsion for Marine Vessels Market Research Report
By Type
Natural Gas Ship Propulsion System, Wind Ship Propulsion System, Sunlight Ship Propulsion System
By Application
Passenger Ship, Cargo Ship
By Companies
Deltamarin, Eco Marine Power (EMP), Eniram (Wartsila), Norsepower, Smart Green Shipping Alliance (SGSA), ABB, Alewijnse Marine Systems, Echandia Marine, Leclanche, A.P. Moller-Maersk Group, NYK Group, STX France
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
199
Number of Tables & Figures
140
Customization Available
Yes, the report can be customized as per your need.
Global Renewable Propulsion for Marine Vessels Market Report Segments:
The global Renewable Propulsion for Marine Vessels market is segmented on the basis of:
Types
Natural Gas Ship Propulsion System, Wind Ship Propulsion System, Sunlight Ship Propulsion System
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
Passenger Ship, Cargo Ship
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:
- Deltamarin
- Eco Marine Power (EMP)
- Eniram (Wartsila)
- Norsepower
- Smart Green Shipping Alliance (SGSA)
- ABB
- Alewijnse Marine Systems
- Echandia Marine
- Leclanche
- A.P. Moller-Maersk Group
- NYK Group
- STX France
Highlights of The Renewable Propulsion for Marine Vessels 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:
- Natural Gas Ship Propulsion System
- Wind Ship Propulsion System
- Sunlight Ship Propulsion System
- By Application:
- Passenger Ship
- Cargo Ship
- 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 Renewable Propulsion for Marine Vessels 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
- Understanding Competition Scenario
- Product & Brand Management
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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?
Renewable propulsion for marine vessels is a technology that uses energy from renewable sources to power ships or boats. These sources of energy can include solar, wind, and hydroelectric power.
Some of the major players in the renewable propulsion for marine vessels market are Deltamarin, Eco Marine Power (EMP), Eniram (Wartsila), Norsepower, Smart Green Shipping Alliance (SGSA), ABB, Alewijnse Marine Systems, Echandia Marine, Leclanche, A.P. Moller-Maersk Group, NYK Group, STX France.
The renewable propulsion for marine vessels market is expected to register a CAGR of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Renewable Propulsion for Marine Vessels 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 Renewable Propulsion for Marine Vessels Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Renewable Propulsion for Marine Vessels 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 Renewable Propulsion for Marine Vessels 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 Renewable Propulsion for Marine Vessels Market Size & Forecast, 2020-2028
4.5.1 Renewable Propulsion for Marine Vessels Market Size and Y-o-Y Growth
4.5.2 Renewable Propulsion for Marine Vessels 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 Natural Gas Ship Propulsion System
5.2.2 Wind Ship Propulsion System
5.2.3 Sunlight Ship Propulsion System
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 Passenger Ship
6.2.2 Cargo Ship
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Renewable Propulsion for Marine Vessels 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 Renewable Propulsion for Marine Vessels 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 Natural Gas Ship Propulsion System
9.6.2 Wind Ship Propulsion System
9.6.3 Sunlight Ship Propulsion System
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 Passenger Ship
9.10.2 Cargo Ship
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 Natural Gas Ship Propulsion System
10.6.2 Wind Ship Propulsion System
10.6.3 Sunlight Ship Propulsion System
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 Passenger Ship
10.10.2 Cargo Ship
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 Natural Gas Ship Propulsion System
11.6.2 Wind Ship Propulsion System
11.6.3 Sunlight Ship Propulsion System
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 Passenger Ship
11.10.2 Cargo Ship
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 Natural Gas Ship Propulsion System
12.6.2 Wind Ship Propulsion System
12.6.3 Sunlight Ship Propulsion System
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 Passenger Ship
12.10.2 Cargo Ship
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 Natural Gas Ship Propulsion System
13.6.2 Wind Ship Propulsion System
13.6.3 Sunlight Ship Propulsion System
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 Passenger Ship
13.10.2 Cargo Ship
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 Renewable Propulsion for Marine Vessels Market: Competitive Dashboard
14.2 Global Renewable Propulsion for Marine Vessels Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Deltamarin
14.3.2 Eco Marine Power (EMP)
14.3.3 Eniram (Wartsila)
14.3.4 Norsepower
14.3.5 Smart Green Shipping Alliance (SGSA)
14.3.6 ABB
14.3.7 Alewijnse Marine Systems
14.3.8 Echandia Marine
14.3.9 Leclanche
14.3.10 A.P. Moller-Maersk Group
14.3.11 NYK Group
14.3.12 STX France
