PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1443420
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1443420
Global Marine Hybrid Propulsion Market Size study&Forecast, by Operation Type, by Components, by Ship Type, by Installation and Regional Analysis, 2023-2030
Global Marine Hybrid Propulsion Market is valued at approximately USD4.62 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 12.4%duringthe forecast period 2023-2030.Marine hybrid propulsion amalgamates internal combustion engines with electric motors and energy storage, leading to enhanced fuel efficiency and a diminished environmental footprint. This innovative approach provides adaptability, allowing vessels to navigate effectively across diverse speedsand cargo requirements. Through the utilization of both traditional and electric power sources, marine hybrid propulsion systems actively support sustainability initiatives within the maritime sector, concurrently bolstering operational efficacy and dependability.The Global Marine Hybrid Propulsion Market is continuously growing due to factors such as decreasing fuel consumption and growing environmental concerns.
Growing trend towards sustainability and decreasing consumption of fuel, the Marine Hybrid Propulsion Market is continuously growing. According to the International Maritime Organization (IMO), the initial GHG strategy aims to reduce CO2 emissions per transport work in international shipping by at least 40% by 2030 and 70% by 2050 compared to 2008 levels. To meet these targets, International Maritime Organization (IMO) has implemented a series of goal-based measures to lower the carbon intensity of international shipping, promoting investments in fuel-saving technologies. In line with these efforts, the marine hybrid propulsion market is poised for growth, offering ship-owners and operators innovative solutions to enhance energy efficiency and reduce emissions, aligning with IMO's sustainability objectives for the maritime industry. This led to the growth of Marine Hybrid Market globally. Moreover, advancement in technologies and expansion in renewable energy integration are the opportunities for Global Marine Hybrid Propulsion Market that led to market growth. However, the heavy installation costs and increase in complexity stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Marine Hybrid Propulsion Marketstudy includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa.North America dominated the market in 2022owing to the dominance of the rising fleet size, increased focus on various OEMs on R&D and implementation of hybrid propulsion systems.Asia Pacific is expected to grow significantly overthe forecast period, owing to factors such as rising international trade, increasein ship building activities and growing environmental concerns led to the market growth of Marine Hybrid Propulsion Market globally.
Major market player included in this report are:
- Cummins Inc
- AB Volvo Panta
- Rolls-Royce plc
- Nigata Power Systems Co., Ltd.
- Mitsubishi Heavy Electrics Ltd.
- Schottel Group
- Siemens
- Steyr Motors GmbH
- Torqueedo GmbH
- Wartsila Corporation
Recent Developments in the Market:
Global Marine Hybrid Propulsion MarketReport Scope:
ByOperation Type:
By Components:
Ship Type:
By Installation:
By Region:
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Marine Hybrid Propulsion Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Marine Hybrid Propulsion Market, by Operation Type,2020-2030 (USD Billion)
- 1.2.3. Marine Hybrid Propulsion Market, by Components, 2020-2030 (USD Billion)
- 1.2.4. Marine Hybrid Propulsion Market, by Ship Type, 2020-2030 (USD Billion)
- 1.2.5. Marine Hybrid Propulsion Market, by Installation, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Marine Hybrid Propulsion Market Definition and Scope
Chapter 3. Global Marine Hybrid Propulsion Market Dynamics
Chapter 4. Global Marine Hybrid Propulsion MarketIndustry Analysis
Chapter 5. Global Marine Hybrid Propulsion Market, by Operation Type
Chapter 6. Global Marine Hybrid Propulsion Market, by Components
Chapter 7. Global Marine Hybrid Propulsion Market, by Ship Type
Chapter 8. Global Marine Hybrid Propulsion Market, by Installation
Chapter 9. Global Marine Hybrid Propulsion Market, Regional Analysis
Chapter 10. Competitive Intelligence
Chapter 11. Research Process
LIST OF TABLES
- TABLE 1. Global Marine Hybrid Propulsion Market, report scope
- TABLE 2. Global Marine Hybrid Propulsion Market estimates & forecasts by Region2020-2030 (USD Billion)
- TABLE 3. Global Marine Hybrid Propulsion Market estimates & forecasts byOperation Type2020-2030 (USD Billion)
- TABLE 4. Global Marine Hybrid Propulsion Market estimates & forecasts by Components 2020-2030 (USD Billion)
- TABLE 5. Global Marine Hybrid Propulsion Market estimates & forecasts by Ship Type 2020-2030 (USD Billion)
- TABLE 6. Global Marine Hybrid Propulsion Market estimates & forecasts by Installation 2020-2030 (USD Billion)
- TABLE 7. Global Marine Hybrid Propulsion Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 8. Global Marine Hybrid Propulsion Market by region, estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 9. Global Marine Hybrid Propulsion Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 10. Global Marine Hybrid Propulsion Market by region, estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 11. Global Marine Hybrid Propulsion Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 12. Global Marine Hybrid Propulsion Market by region, estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 13. Global Marine Hybrid Propulsion Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
LIST OF FIGURES
