About Marine Hybrid Propulsion
Mechanic and electric power work together in the propulsion train, optimizing the propulsion efficiency for ships through a flexible power demand. A mixture of electrical power delivered by electrical motors coupled with mechanical power which is provided by diesel engines delivers propulsion power, which ensures the ship a broad operational capability. Hence, it provide the right amount of power and torque to the propeller in each operation method. However, a diesel-mechanic propulsion system is often designed according to its maximum power demand.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States and German Manufacturers will contribute the maximum growth to Global Marine Hybrid Propulsion market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cummins Inc. (United States), AB Volvo Penta (Sweden), General Electric (United States), Rolls-Royce Plc (United Kingdom), Nigata Power Systems Co., Ltd. (Japan), Fairbanks Morse Engine (United States), Caterpillar Inc. (United States), BAE Systems plc (United Kingdom), Wartsila Corporation (Finland) and MAN Diesel & Turbo SE (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Steyr Motors GmbH (Austria), Torqeedo GmbH (Germany), Masson-Marine S.A.S (France) and Schottel Group (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Marine Hybrid Propulsion market by Type (Diesel-Electric, Parallel Electric and Serial Hybrid) and Region.
On the basis of geography, the market of Marine Hybrid Propulsion has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Power Rating, the sub-segment i.e. 0 To 300 KW will boost the Marine Hybrid Propulsion market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Stroke, the sub-segment i.e. Two Stroke will boost the Marine Hybrid Propulsion market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Tugboats will boost the Marine Hybrid Propulsion market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Usage of Inland Waterways Along With Technological Advancements
Market Growth Drivers:
High Growth in Sales and Production of Ships across the World and Rising International Seaborne Trade
Challenges:
Stringent Environmental Regulations & Rules
Restraints:
Huge Capital Investments Needed To Install New Manufacturing Facilities
Opportunities:
Rising Need of Resources Such As Coal, Crude Oil, Iron, and Steel from Emerging Economies
Market Leaders and their expansionary development strategies
In JANUARY 2024, Yamaha Motor announced has recently concluded a stock purchase agreement with Germany's DEUTZ AG,. This acquisition is also meant to support and accelerate Yamaha's efforts for achieving carbon neutrality in the marine industry as well as aid in fast-tracking the establishment of a small electric propulsion line-up.
In September 2022, ZF has launched a hybrid version of its ZF AT 80 thruster system. The new hybrid propulsion solution is suitable for a range of professional vessel types with a performance range of approximately 900 kW to 1600 kW.The hybrid AT 80 is available as an azimuth thruster; an electric motor is placed at the upper gearbox’s Power-Take-In (PTI), with performance tailored to the individual vessel type and application.
Key Target Audience
Manufacturers of Marine Hybrid Propulsion, Suppliers of Marine Hybrid Propulsion Parts, Distributors of Marine Hybrid Propulsion, Marine Industry, Governmental Bodies and Research Firms
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.