The development of the maritime sector is accredited to the progress in technologies such as marine hybrid propulsion system. Market reports related to the energy and power industry have been presented by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market is anticipated to advance at a 6.5% CAGR in the period of the forecast.
Marine Hybrid Propulsion System Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market Size, Share, Growth, Trends, key players Forecast to 2023. A marine hybrid propulsion system uses a combination of generator operated by electricity attached to an electric motor. Marine hybrid propulsion systems are highly efficient for medium range ships, and are currently installed on a large scale in new ships.
Leading Players in the Global Marine Hybrid Propulsion System Market analyzed are:
The significant competitors in the marine hybrid propulsion system market are Siemens AG (Germany), Caterpillar Inc. (U.S.), Mitsubishi Heavy Industries, Ltd. (Japan), Torqeedo GmbH (Germany), Steyr Motors GmbH (Austria), General Electric Company (U.S.), Wartsila Corporation (Finland), ABB Ltd. (Switzerland), MAN Diesel & Turbo SE (Germany), BAE Systems (U.K), Schottel GmbH (Germany) and Rolls-Royce plc (U.K.).
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Industry Overview
A marine hybrid propulsion system features both, a diesel engine and an electric motor for propulsion. Electric auxiliary power is generated by diesel generators sets. The electric motor can also act as a generator, through which the generators can produce less power. However, the main engines should then provide this power. Marine hybrid propulsion system is a new type of dynamic form. The hybrid propulsion system has been widely used in passenger ships, marine work ship and public service and so on. For different types of ships, the propulsion system of the host type and number, transmission mode, gear box device, the number of shaft and bearing as well as the propeller device models and numbers are not the same.
Marine hybrid propulsion systems are gradually emerging as one of the most preferred clean propulsion systems, globally and are being used in several vessel categories. One of the major advantages of using hybrid propulsion systems is their clean and efficient mechanism, which significantly lowers emissions as compared to conventional propulsion systems. Features such as silent maneuvering, emission-free operations, and lower degrees of fuel consumption have prompted vessel and towage operators to invest in this technology. Development of the technology originating from the hybrid automotive industry, has assisted technology developers in designing efficient and economical marine hybrid propulsion systems. Marine hybrid propulsion systems are designed to use two independent drive systems for propulsion: a diesel engine and an electric motor, where electric power is generally stored in batteries or a super capacitor. The system utilizes the unused capacity of the main diesel engine to generate electricity and store it in batteries for later use.
Global Marine Hybrid Propulsion System Market Segmental Analysis:
The segmental analysis of the marine hybrid propulsion system market has been segmented on the basis of deadweight, type, ship type, application, and region.
By Type
Diesel-Electric
Gas-Electric
Others
By Deadweight
Less Than 5K DWT
5K-10K DWT
More Than 10K DWT
By Application
Commercial
Logistics
Offshore Drilling
Naval
Others
By Ship Type
By Regions
North America
Asia Pacific
Europe
Rest of the World
Regional Analysis
The regional analysis of the marine hybrid propulsion system comprises of regions such as North America, Europe, Asia Pacific and rest of the world.
The expansion of the market is attributed to the substantial growth in the application of hybrid marine propulsion system to the recently built ships coupled with the upsurge in marine activity globally. The market progress of marine hybrid propulsion system is principally accredited to the strict regulations for emissions at sea level, and also has improved the marine hybrid propulsion system market in several countries, which is expected to endure during the forecast years.
The European region has accounted for the chief share of the marine hybrid propulsion system market in 2016, where Norway, U.K., Poland, and other well-known shipbuilding nations added, to the market development. Moreover, the Asia Pacific region is expected to appear as one of the important markets for this technology owing to the present deployment of the advanced marine hybrid propulsion system in the recently built ships.
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