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.
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.
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 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.
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