Marine Hybrid & Full Electric Propulsion - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Marine Hybrid & Full Electric Propulsion Market is accounted for $3.42 billion in 2020 and is expected to reach $7.87 billion by 2028 growing at a CAGR of 11.0% during the forecast period. The increase in adoption of hybrid propulsion systems in retrofit ships and the significant increase in sea trade are the major factors propelling the market growth. However, high initial investments and inadequate infrastructure are hindering the market growth.
Marine propulsion is used to generate thrust to propel a boat and ship across the water. The arrangement of the entire propulsion system relies on the type of operation, the system of transport, and the size of the vessel. However, almost all types of vessels such as recreational vessels, defense vessels, yachts, ferries, and tugboats employ hybrid systems to move. Diesel-electric marine propulsion systems are increasingly used in marine vessels.
Based on the propulsion, the full electric propulsion segment is estimated to have a huge demand due to the implementation of stringent regulations related to the minimization of harmful carbon emissions. Full electric marine propulsion enhances the overall efficiency of the vessel. It also reduces the carbon footprint.
By geography, the Asia Pacific is going to have lucrative growth during the forecast period. Investments in the shipping industry have increased significantly in the region over the past few years, due to the rise in sea trade in countries such as China and Japan.
Some of the key players profiled in the Marine Hybrid & Full Electric Propulsion Market include W?rtsil?, Torqeedo, STEYR MOTORS, Rolls-Royce plc, Masson Marine, Cummins, IHI Power Systems Co.,Ltd., General Electric, Fairbanks-Morse, MAN Energy Solutions, Caterpillar, BAE Systems, and AB Volvo.
Power Ratings Covered:
All the customers of this report will be entitled to receive one of the following free customization options:
Marine propulsion is used to generate thrust to propel a boat and ship across the water. The arrangement of the entire propulsion system relies on the type of operation, the system of transport, and the size of the vessel. However, almost all types of vessels such as recreational vessels, defense vessels, yachts, ferries, and tugboats employ hybrid systems to move. Diesel-electric marine propulsion systems are increasingly used in marine vessels.
Based on the propulsion, the full electric propulsion segment is estimated to have a huge demand due to the implementation of stringent regulations related to the minimization of harmful carbon emissions. Full electric marine propulsion enhances the overall efficiency of the vessel. It also reduces the carbon footprint.
By geography, the Asia Pacific is going to have lucrative growth during the forecast period. Investments in the shipping industry have increased significantly in the region over the past few years, due to the rise in sea trade in countries such as China and Japan.
Some of the key players profiled in the Marine Hybrid & Full Electric Propulsion Market include W?rtsil?, Torqeedo, STEYR MOTORS, Rolls-Royce plc, Masson Marine, Cummins, IHI Power Systems Co.,Ltd., General Electric, Fairbanks-Morse, MAN Energy Solutions, Caterpillar, BAE Systems, and AB Volvo.
Power Ratings Covered:
- Up to 1 Megawatt
- 1.1 Megawatt - 2 Megawatt
- 2.1 Megawatt - 3.5 Megawatt
- Above 3.5 Megawatt
- Hydrogen
- Liquefied Natural Gas (LNG)
- Diesel
- Other Fuels
- 0 RPM - 1,000 RPM
- 1,001 RPM - 2,500 RPM
- Above 2,500 RPM
- Hybrid Propulsion
- Full Electric Propulsion
- Cruise Ships
- Defense Vessels
- Ferries
- Offshore Support Vehicles
- Tugboats
- Yachts
- Other End Users
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
1 EXECUTIVE SUMMARY
2 PREFACE
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 MARKET TREND ANALYSIS
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 PORTERS FIVE FORCE ANALYSIS
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 GLOBAL MARINE HYBRID & FULL ELECTRIC PROPULSION MARKET, BY POWER RATING
5.1 Introduction
5.2 Up to 1 Megawatt
5.3 1.1 Megawatt - 2 Megawatt
5.4 2.1 Megawatt - 3.5 Megawatt
5.5 Above 3.5 Megawatt
6 GLOBAL MARINE HYBRID & FULL ELECTRIC PROPULSION MARKET, BY FUEL
6.1 Introduction
6.2 Hydrogen
6.3 Liquefied Natural Gas (LNG)
6.4 Diesel
6.5 Other Fuels
6.5.1 Nuclear Fuel
6.5.2 Heavy Fuel Oil
6.5.3 Biodiesel
7 GLOBAL MARINE HYBRID & FULL ELECTRIC PROPULSION MARKET, BY REVOLUTIONS PER MINUTE (RPM)
7.1 Introduction
7.2 0 RPM - 1,000 RPM
7.3 1,001 RPM - 2,500 RPM
7.4 Above 2,500 RPM
8 GLOBAL MARINE HYBRID & FULL ELECTRIC PROPULSION MARKET, BY PROPULSION
8.1 Introduction
8.2 Hybrid Propulsion
8.3 Full Electric Propulsion
9 GLOBAL MARINE HYBRID & FULL ELECTRIC PROPULSION MARKET, BY END USER
9.1 Introduction
9.2 Cruise Ships
9.3 Defense Vessels
9.4 Ferries
9.5 Offshore Support Vehicles
9.6 Tugboats
9.7 Yachts
9.8 Other End Users
9.8.1 Oil Tankers
9.8.2 Container Ships
9.8.3 Cargo Ships
9.8.4 Roll-On & Roll-Off Ships
10 GLOBAL MARINE HYBRID & FULL ELECTRIC PROPULSION MARKET, BY GEOGRAPHY
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 KEY DEVELOPMENTS
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 COMPANY PROFILING
12.1 W?rtsil?
12.2 Torqeedo
12.3 STEYR MOTORS
12.4 Rolls-Royce plc
12.5 Masson Marine
12.6 Cummins
12.7 IHI Power Systems Co.,Ltd.
12.8 General Electric
12.9 Fairbanks-Morse
12.10 MAN Energy Solutions
12.11 Caterpillar
12.12 BAE Systems
12.13 AB Volvo
2 PREFACE
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 MARKET TREND ANALYSIS
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 PORTERS FIVE FORCE ANALYSIS
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 GLOBAL MARINE HYBRID & FULL ELECTRIC PROPULSION MARKET, BY POWER RATING
5.1 Introduction
5.2 Up to 1 Megawatt
5.3 1.1 Megawatt - 2 Megawatt
5.4 2.1 Megawatt - 3.5 Megawatt
5.5 Above 3.5 Megawatt
6 GLOBAL MARINE HYBRID & FULL ELECTRIC PROPULSION MARKET, BY FUEL
6.1 Introduction
6.2 Hydrogen
6.3 Liquefied Natural Gas (LNG)
6.4 Diesel
6.5 Other Fuels
6.5.1 Nuclear Fuel
6.5.2 Heavy Fuel Oil
6.5.3 Biodiesel
7 GLOBAL MARINE HYBRID & FULL ELECTRIC PROPULSION MARKET, BY REVOLUTIONS PER MINUTE (RPM)
7.1 Introduction
7.2 0 RPM - 1,000 RPM
7.3 1,001 RPM - 2,500 RPM
7.4 Above 2,500 RPM
8 GLOBAL MARINE HYBRID & FULL ELECTRIC PROPULSION MARKET, BY PROPULSION
8.1 Introduction
8.2 Hybrid Propulsion
8.3 Full Electric Propulsion
9 GLOBAL MARINE HYBRID & FULL ELECTRIC PROPULSION MARKET, BY END USER
9.1 Introduction
9.2 Cruise Ships
9.3 Defense Vessels
9.4 Ferries
9.5 Offshore Support Vehicles
9.6 Tugboats
9.7 Yachts
9.8 Other End Users
9.8.1 Oil Tankers
9.8.2 Container Ships
9.8.3 Cargo Ships
9.8.4 Roll-On & Roll-Off Ships
10 GLOBAL MARINE HYBRID & FULL ELECTRIC PROPULSION MARKET, BY GEOGRAPHY
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 KEY DEVELOPMENTS
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 COMPANY PROFILING
12.1 W?rtsil?
12.2 Torqeedo
12.3 STEYR MOTORS
12.4 Rolls-Royce plc
12.5 Masson Marine
12.6 Cummins
12.7 IHI Power Systems Co.,Ltd.
12.8 General Electric
12.9 Fairbanks-Morse
12.10 MAN Energy Solutions
12.11 Caterpillar
12.12 BAE Systems
12.13 AB Volvo
LIST OF TABLES
Table 1 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Region (2019-2028) ($MN)
Table 2 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Power Rating (2019-2028) ($MN)
Table 3 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Up to 1 Megawatt (2019-2028) ($MN)
Table 4 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By 1.1 Megawatt - 2 Megawatt (2019-2028) ($MN)
Table 5 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By 2.1 Megawatt - 3.5 Megawatt (2019-2028) ($MN)
Table 6 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Above 3.5 Megawatt (2019-2028) ($MN)
Table 7 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Fuel (2019-2028) ($MN)
Table 8 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Hydrogen (2019-2028) ($MN)
Table 9 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Liquefied Natural Gas (LNG) (2019-2028) ($MN)
Table 10 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Diesel (2019-2028) ($MN)
Table 11 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Other Fuels (2019-2028) ($MN)
Table 12 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Nuclear Fuel (2019-2028) ($MN)
Table 13 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Heavy Fuel Oil (2019-2028) ($MN)
Table 14 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Biodiesel (2019-2028) ($MN)
Table 15 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Revolutions Per Minute (RPM) (2019-2028) ($MN)
Table 16 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By 0 RPM - 1,000 RPM (2019-2028) ($MN)
Table 17 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By 1,001 RPM - 2,500 RPM (2019-2028) ($MN)
Table 18 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Above 2,500 RPM (2019-2028) ($MN)
Table 19 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Propulsion (2019-2028) ($MN)
Table 20 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Hybrid Propulsion (2019-2028) ($MN)
Table 21 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Full Electric Propulsion (2019-2028) ($MN)
Table 22 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By End User (2019-2028) ($MN)
Table 23 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Cruise Ships (2019-2028) ($MN)
Table 24 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Defense Vessels (2019-2028) ($MN)
Table 25 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Ferries (2019-2028) ($MN)
Table 26 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Offshore Support Vehicles (2019-2028) ($MN)
Table 27 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Tugboats (2019-2028) ($MN)
Table 28 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Yachts (2019-2028) ($MN)
Table 29 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Other End Users (2019-2028) ($MN)
Table 30 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Oil Tankers (2019-2028) ($MN)
Table 31 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Container Ships (2019-2028) ($MN)
Table 32 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Cargo Ships (2019-2028) ($MN)
Table 33 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Roll-On & Roll-Off Ships (2019-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
Table 1 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Region (2019-2028) ($MN)
Table 2 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Power Rating (2019-2028) ($MN)
Table 3 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Up to 1 Megawatt (2019-2028) ($MN)
Table 4 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By 1.1 Megawatt - 2 Megawatt (2019-2028) ($MN)
Table 5 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By 2.1 Megawatt - 3.5 Megawatt (2019-2028) ($MN)
Table 6 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Above 3.5 Megawatt (2019-2028) ($MN)
Table 7 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Fuel (2019-2028) ($MN)
Table 8 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Hydrogen (2019-2028) ($MN)
Table 9 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Liquefied Natural Gas (LNG) (2019-2028) ($MN)
Table 10 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Diesel (2019-2028) ($MN)
Table 11 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Other Fuels (2019-2028) ($MN)
Table 12 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Nuclear Fuel (2019-2028) ($MN)
Table 13 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Heavy Fuel Oil (2019-2028) ($MN)
Table 14 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Biodiesel (2019-2028) ($MN)
Table 15 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Revolutions Per Minute (RPM) (2019-2028) ($MN)
Table 16 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By 0 RPM - 1,000 RPM (2019-2028) ($MN)
Table 17 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By 1,001 RPM - 2,500 RPM (2019-2028) ($MN)
Table 18 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Above 2,500 RPM (2019-2028) ($MN)
Table 19 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Propulsion (2019-2028) ($MN)
Table 20 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Hybrid Propulsion (2019-2028) ($MN)
Table 21 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Full Electric Propulsion (2019-2028) ($MN)
Table 22 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By End User (2019-2028) ($MN)
Table 23 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Cruise Ships (2019-2028) ($MN)
Table 24 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Defense Vessels (2019-2028) ($MN)
Table 25 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Ferries (2019-2028) ($MN)
Table 26 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Offshore Support Vehicles (2019-2028) ($MN)
Table 27 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Tugboats (2019-2028) ($MN)
Table 28 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Yachts (2019-2028) ($MN)
Table 29 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Other End Users (2019-2028) ($MN)
Table 30 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Oil Tankers (2019-2028) ($MN)
Table 31 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Container Ships (2019-2028) ($MN)
Table 32 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Cargo Ships (2019-2028) ($MN)
Table 33 Global Marine Hybrid & Full Electric Propulsion Market Outlook, By Roll-On & Roll-Off Ships (2019-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
