Marine Hybrid Propulsion Market

21 Mar


Marine Hybrid Propulsion Market Poised to Grow at a CAGR of 7.0% by 2024

  • By admin

  • January, 1970

Infinium Global Research has added a new report on Marine Hybrid Propulsion Market. The report presents analysis of global as well as regional markets of marine hybrid propulsion market   over the period of 2016 to 2024. A hybrid vehicle can achieve propulsion using a fuelled power source for e.g. a diesel engine or through a stored energy source, which is a battery bank and electric motor. Hybrid propulsion systems can be differentiated between configurations, where the diesel engines and the E-motors work in parallel on the propeller. The main applications of marine hybrid propulsion market are in offshore vessels and navy applications. Offshore patrol ships are good examples of ships that are equipped with hybrid propulsion system. Patrol ships can be operated at low speeds by the electric motor and at a high power demand by the main engine. Moreover, Anchor Handling Tug Supply vessels are good examples of offshore ships with highly flexible power demand and per consequence, different operation modes, and sailing speeds.


Increasing trade of resources such as coal, crude oil, iron, and steel is done through large vessels. These large vessels containing high volume resources are driven through marine hybrid propulsion market. In addition, continuous development in the marine industry along with growing ship owner preferences for high fuel-efficient features are boosting the growth of the marine hybrid propulsion market. Furthermore, marine hybrid propulsion not only offers improved fuel efficiency but also adhere to stringent environmental regulations. The number of countries have adopted marine hybrid systems owing to the growing concerns about global warming caused because of fossil fuel. The system utilizes the unused capacity of the main diesel engine to generate electricity and store it in batteries for later use. This, in turn, has opened several doors of opportunity for the key players in the marine hybrid propulsion market over the upcoming years. On the other hand, increased the defense budget by various emerging economies, particularly for sea-based defense and maritime security and the gradual adoption of LNG over conventional marine fuels is expected to open new opportunities in the global marine hybrid propulsion market.


Among the geographies, Europe dominated the marine hybrid propulsion market in terms of revenue followed by North America. The European Union has also supported the upgrade of ferries, as all vessels navigating through in European waters have to reduce sulfur emissions from 2015. The Asia Pacific is the most lucrative market for marine hybrid propulsion. The growth in the Asia Pacific region is due to the deployment of the advanced marine hybrid propulsion system in the newly built ships. On the other hand, the exchange of crude oil for the most part of the Middle East nations to Asia Pacific regions is another factor driving the growth of the Asia Pacific regions. Moreover, the growth matrix presented by Infinium Global Research identifies the key investment markets in the near future, this will not only help the companies to understand the competitive position in the global marine hybrid propulsion market but also make strategic decisions to capture the most lucrative markets in the near future. The market size is presented in terms of value for the historic year 2016 and estimated for forecast period of 2018-2024.


Get 15% discount for early purchase of global marine hybrid propulsion market   report by clicking the following link, Use code IGRD15 to request the discount in the given form


The recent report identified that Europe dominated the global marine hybrid propulsion market   over the last couple of years, while emerging markets of Asia-Pacific and Latin America are anticipated to contribute significantly to the growth in the marine hybrid propulsion market   worldwide.


The report segments the global marine hybrid propulsion market on the basis of Propulsion Type, Transport, Power Rating, End-user and Application.


Global Marine Hybrid Propulsion Market by Propulsion Type

·         Diesel-electric

·         Parallel Hybrid

·         Serial Hybrid

·         Full Electric

·         Gas Turbine

·         Fuel Cell


Global Marine Hybrid Propulsion Market by Transport

·         Inland Waterways 

·         Coastal/Cross-border Waterways

·          Fishing Vessels

·         Ferries

·         Tugboats

·         Cruise

·         Cargo Ships

·         Defense Vessels


Global Marine Hybrid Propulsion Market by Power Rating

·         0-300 KW

·         301-500 KW

·         501-800 KW


Global Marine Hybrid Propulsion Market by End-user

·         Cruise Ships

·         Defense Vessels

·         Ferries

·         Offshore Support Vessels

·         Tugboats

·         Yacht


Global Marine Hybrid Propulsion Market by Application

·         Commercial

·         Logistics

·         Offshore Drilling

·          Naval


Companies Profiled in the Report

·         Rolls-Royce Holdings plc

·         General Electric Company

·         Mitsubishi Heavy Industries Ltd

·         Caterpillar Inc

·         Hyundai Heavy Industries

·         MAN Diesel & Turbo,

·         Niigata Power Systems

·         Yanmar

·         BAE Systems

·         Siemens AG


About Infinium Global Research

Infinium Global Research is a business intelligence company that provides its clients with market information services, solutions, and reports. The intelligence reports include qualitative as well as quantitative information, which are blended using forecasting models in order to project future market demand. Our panels of Subject Matter Experts (SMEs), Analysts, and Consultants use numerous data gathering tools in order to provide you with detailed information on the market as well as a preview of its projected growth. Our repository includes the largest and most credible databases, through which we determine various qualitative and quantitative parameters of the market to provide you with an in-depth business intelligence report.

Infinium Global Research reports and consulting services cover numerous sectors, which include healthcare, chemicals, materials, energy, packaged goods, food and beverages, technology, and communications. These reports provide readers with market insights and detailed analysis of market segments to possible micro levels. Our reports, with stratified research methodology and wider scope of analysis, provide clients with crucial insights and information to meet their every requirement.