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. A detailed analysis report
of COVID-19 impact on Marine
Hybrid Propulsion System Market Report is provided
with the report.
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.
Based
on type the market is segmented into diesel-electric, gas-electric, and others.
Among these the diesel-electric type system, is projected to dominate the
marine hybrid propulsion system market through 2023.
Based
on the deadweight the market is segmented into Less Than 5K DWT, 5K-10K DWT and
More Than 10K DWT.
Based
on the application, the market is segmented into commercial, logistics,
offshore drilling, naval and others.
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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