Marine Hybrid Propulsion Market
REPORT DESCRIPTION
Marine Hybrid Propulsion Market - Global Industry Analysis, Size, Share, Growth, Trends, and
Forecast 2014 - 2022
Transparency Market Research has released a new market report titled Marine Hybrid Propulsion Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2022. According to this report,
The global revenue for marine hybrid propulsion systems stood at USD 2,240.00 million in 2013 and is
expected to reach USD 4,455.88 million by 2022 at a CAGR of 8.02% from 2014 to 2022.
Browse Marine Hybrid Propulsion Market Report with Full TOC at
http://www.transparencymarketresearch.com/marine-hybrid-propulsion-market.html
The primary beneficiaries of the flexibility of marine hybrid propulsion systems are marine vessels with
several varying load profiles. Vessel operators are facing several operational challenges in the face of
growing environmental restrictions and fluctuating fuel prices. Investment in marine hybrid propulsion
systems is an effective means to meet the current marine operating requirements. Fuel charges account
for a significant share of a vessel’s operating expenditure. As a result, shipping liners are adopting efficient
fuel technologies such as hybrid propulsion to increase profit margins. In this report, marine vessels have
been broadly segmented into four categories on the basis adoption of marine hybrid propulsion systems.
Tugboats and offshore support vessels, ferries, defense vessels, and other vessels (others) are the major
segments considered in this report. The others segment primarily comprises luxury boats, yachts, and
autonomous underwater vehicles.
Currently, ferry operators are the major adopters of marine hybrid propulsion systems across the world.
These vessels primarily operate in coastal areas and inland waterways, where emission norms are more
stringent than in deep-sea areas. Tugboats and offshore support vessels have been identified as among the
most lucrative segments in terms of investment in marine hybrid propulsion technology. Tugboats are
among the essential vessels used primarily within port limits to maneuver large vessels. These boats are
designed to perform a wide variety of tasks across the entire power spectrum. It has been observed that
tugboats and offshore support vessels operate at low engine load most of the time. Marine hybrid
propulsion systems are designed to take advantage of the duty cycle variability, which ultimately improves
the fuel efficiency of the tugboat and offshore support vessels. Luxury yachts and small tourist boats are
also emerging as one of the major adopters of marine hybrid propulsion systems. As a result, several yacht
and boat designers are developing new hybrid models to attract more investment in this market.
In terms of configuration, the market has been segmented into three categories as diesel-electric, parallel,
and serial hybrid systems. Diesel-electric systems are the most widely used technology configuration in
the marine hybrid propulsion market. However, this configuration does not strictly fit the criteria of marine
hybrid propulsion system, as there is no facility for the storage of electric energy in this system. Although
diesel-electric configuration continues to remain the dominant product type in this market, parallel and
serial systems are anticipated to witness attractive growth rate in the future. Some of the major companies
operating in this market are Siemens AG, General Electric, Rolls-Royce plc, BAE Systems plc, MAN Diesel &
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