Worldwide Marine Hybrid Propulsion Industry to 2025 - Featuring BAE Systems, Schottel and ABB Among Others

Dublin, Sept. 08, 2021 (GLOBE NEWSWIRE) -- The "Marine Hybrid Propulsion Global Market Report 2021: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global marine hybrid propulsion market.

This report focuses on marine hybrid propulsion market which is experiencing strong growth. The report gives a guide to the marine hybrid propulsion market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.

The global marine hybrid propulsion market is expected to grow from $2.88 billion in 2020 to $3.10 billion in 2021 at a compound annual growth rate (CAGR) of 7.5%. The growth is mainly due to the increase in international trade, expanding shipbuilding industry, rising demand for electric propulsion technology, and rising shift from conventional to hybrid propulsion units. The market is expected to reach $5.02 billion in 2025 at a CAGR of 12.8%.

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Description:

Where is the largest and fastest growing market for marine hybrid propulsion? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Marine Hybrid Propulsion market global report from the publisher answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider marine hybrid propulsion market, and compares it with other markets.

• The market characteristics section of the report defines and explains the market.

• The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.

• Market segmentations break down market into sub markets.

• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.

• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.

• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

• The marine hybrid propulsion market section of the report gives context. It compares the marine hybrid propulsion market with other segments of the marine hybrid propulsion market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, marine hybrid propulsion indicators comparison.

Major players in the market are BAE Systems, Schottel, MAN Energy Solutions, Siemens, ABB Ltd, General Electric Company, Steyr Motors, Mitsubishi Heavy Industries, Torqeedo, and Wartsila Corporation.

The marine hybrid propulsion market consists of sales of marine hybrid propulsion systems by entities (organizations, sole traders, and partnerships) that manufacture marine hybrid propulsion systems. Hybrid propulsion is a propulsion system for a vehicle that involves two or more sources of propulsion in one design usually that can be used collectively or alternately. Hybrid propulsion improves the fuel efficiency of vessels with variable power demand such as tug boats, fishing vessels, and others.

Europe was the largest region in the marine hybrid propulsion market in 2020 The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The launch of integrated propulsion systems has emerged as a key trend in the marine hybrid propulsion market. Major players operating in the marine hybrid propulsion field are focusing on introducing new hybrid propulsion systems to improve performance, environmental compatibility, and propulsion system versatility. For instance, in November 2020, Havyard, a Norwegian shipbuilding group announced that its new hydrogen propulsion system for large ocean-going ships should be completed next year as a potential alternative fuel to help reduce its carbon footprint. It has developed a ship's propulsion systems with integrated LH2 tank and fuel cells.

In June 2020, Gula Skrinet AB, a global supplier of customized marine propulsion systems acquired Caterpillar Propulsion AB for an undisclosed amount. The proposed acquisition develops Gula Skrinet AB's external relationships, products, and services in close cooperation with customers and partners. Caterpillar Propulsion AB is a Sweden-based manufacturer of mechanically and electrically driven propulsion systems and marine controls for ships.

An increase in international trade is contributing to the growth of the marine hybrid propulsion market. Most of the internationally traded goods are transported using cargo vessels and ships. Hybrid propulsion improves the fuel efficiency of vessels with variable power demands. According to the International Chamber of Shipping, in 2019, the total value of the annual world shipping trade had reached more than $14 trillion. Moreover, nearly 2 billion tons of crude oil, 1 billion tons of iron ore, 350 million tons of grains, and 11 billion tons of goods are transported by ship each year and about 90% of the world trade is carried by the shipping industry. Thus, the surge in international trade boosts the number of cargo vessels and ships fleet and which in turn, drives the market for marine hybrid propulsion.

The countries covered in the marine hybrid propulsion market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

Key Topics Covered:

1. Executive Summary

2. Marine Hybrid Propulsion Market Characteristics

3. Marine Hybrid Propulsion Market Trends and Strategies

4. Impact Of COVID-19 On Marine Hybrid Propulsion

5. Marine Hybrid Propulsion Market Size and Growth
5.1. Global Marine Hybrid Propulsion Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Marine Hybrid Propulsion Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market

6. Marine Hybrid Propulsion Market Segmentation

7. Marine Hybrid Propulsion Market Regional and Country Analysis
7.1. Global Marine Hybrid Propulsion Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Marine Hybrid Propulsion Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

8. Asia-Pacific Marine Hybrid Propulsion Market

9. China Marine Hybrid Propulsion Market

10. India Marine Hybrid Propulsion Market

11. Japan Marine Hybrid Propulsion Market

12. Australia Marine Hybrid Propulsion Market

13. Indonesia Marine Hybrid Propulsion Market

14. South Korea Marine Hybrid Propulsion Market

15. Western Europe Marine Hybrid Propulsion Market

16. UK Marine Hybrid Propulsion Market

17. Germany Marine Hybrid Propulsion Market

18. France Marine Hybrid Propulsion Market

19. Eastern Europe Marine Hybrid Propulsion Market

20. Russia Marine Hybrid Propulsion Market

21. North America Marine Hybrid Propulsion Market

22. USA Marine Hybrid Propulsion Market

23. South America Marine Hybrid Propulsion Market

24. Brazil Marine Hybrid Propulsion Market

25. Middle East Marine Hybrid Propulsion Market

26. Africa Marine Hybrid Propulsion Market

27. Marine Hybrid Propulsion Market Competitive Landscape and Company Profiles
27.1. Marine Hybrid Propulsion Market Competitive Landscape
27.2. Marine Hybrid Propulsion Market Company Profiles
27.2.1. BAE Systems
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Schottel
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. MAN Energy Solutions
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Siemens
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. ABB Ltd
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance

28. Key Mergers and Acquisitions in the Marine Hybrid Propulsion Market

29. Marine Hybrid Propulsion Market Future Outlook and Potential Analysis

30. Appendix

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