The detailed report of Marine Hybrid Propulsion Market evaluated by skilled experts is segmented into Application and Product. The Marine Hybrid Propulsion Market is anticipated to witness considerable development in the following years from 2018-2023. The global Marine Hybrid Propulsion Market was worth USD 2.68 billion in 2014 and is expected to reach approximately USD 5.73 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 8.79% during the forecast period.
Market Overview:
Marine propulsion engines are a machine that consumes fuel to produce thrust, which encourages boats to move crosswise over water. The marine drive motor market is foreseen to witness hearty development amid the conjecture time frame attributable to different continuous government interests in shipbuilding industry and inland waterways. Ships are coordinated with more than one propulsion engines, contingent upon their size (net tonnage). Also, in the beginning period of marine propulsion, steam turbines were made use of; nonetheless, because of enhancement in technology, diesel or elective fuel engine and gas turbine have significant infiltration.
Major Keyplayers:
The leading players in the market are Hyundai Heavy Industries, MAN Diesel & Turbo, Niigata Power Systems, Yanmar, Caterpillar Inc, Mitsubishi Heavy Industries Ltd, General Electric Company and Rolls-Royce Holdings plc. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
Ship Type Outlook and Trend Analysis:
By ship types, the market is segmented into tanker, cargo & container, offshore vessel, bulk carrier, passenger ship, and others (tugs & service ships). Rising sales and production of ships around the globe and ascend in worldwide seaborne exchange drive the market development. Additionally, rising demand for assets, for example, steel, crude oil, coal and iron from creating nations powers the market development. However, stringent natural tenets and controls and vast capital speculation required to set up new assembling offices hamper the market development.
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Regional Outlook and Trend Analysis:
Asia-Pacific is the most lucrative marine propulsion engine market, attributable to increment in shipbuilding businesses in China and South Korea and development in number of joint endeavors with worldwide brands. In addition, ascend in seaborne exchange of crude oil for the most part from Middle East nations to Asia-Pacific is another factor that drives the Asia-Pacific marine propulsion engine market.
The Marine Hybrid Propulsion Market is segmented as follows-
By Power Source: Gas Turbine, Diesel, Natural Gas & Others
By Ship Type: Tanker, Bulk Carrier, Passenger Ship, Cargo or Container Ship, Offshore Vessel & Others
By Region: North America: (U.S, Canada & Mexico), Europe: (Germany, France, UK, Italy, Spain & Rest of Europe), Asia-Pacific: (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific) and Rest of the World: (Brazil, South Africa, Saudi Arabia, Turkey, United Arab Emirates & Others)
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Power Source Outlook and Trend Analysis:
On the basis of power source the market is segmented into gas turbine, diesel, natural gas, and others (steam turbine, renewable energy, hybrid, and fuel cell). Diesel propulsion system is the most widely recognized marine propulsion system useful as a part of a wide range of vessel alongside little and recreational water crafts. Also, diesel marine propulsion system drove the general market, representing 70% out of 2015. This is ascribed to its advantages, for example, low support cost, temperate nature, high dependability, and simple accessibility of diesel all inclusive.
Major ToC of Marine Hybrid Propulsion Market:
Chapter 1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
Chapter 2. Executive Summary
2.1. Key Highlights
Chapter 3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Growth in International Seaborne Trade
3.2.1.2. Rising Production and Sales of Ships Globally
3.2.2. Restraints
3.2.2.1. Strict Environmental Rules & Regulations
3.2.3. Opportunities
…CONTINUED FOR TOC
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