Marine Hybrid Propulsion Market: Stringent Regulations Aimed at Promoting Fuel-efficiency across Industries to Boost Growth.

In order to gain competitive edge, prominent players in the global marine hybrid propulsion market are investing in various research and development activities. This is a major factor motivating manufacturing companies to achieve product differentiation, finds Transparency Market Research (TMR) in a new study. As per reports, conventional hybrid propulsion manufacturing companies have continued designing hybrid propulsion for tugs and yachts. In addition, a majority of existing firms are concentrated in Europe, as the region boasts a sophisticated marine infrastructure.

Obtain Report Details @: http://www.transparencymarketresearch.com/marine-hybrid-propulsion-market.html

Despite prevailing competition, companies such as Caterpillar, Inc., and General Electric have established themselves as strong market players. These companies enjoy being at the fore on account of their wide presence across the world and diverse product portfolio. As expansion strategies, mergers and acquiring established regional firms have emerged as popular choice for companies. Also energy-efficient solutions offered by companies such as Siemens AG and BAE Systems have helped them earn considerable boost.

Overall, the global marine hybrid propulsion market is forecast to exhibit a CAGR of 8.2% between 2016 and 2024. At this pace, the market’s valuation will reach US$5.25 bn by the end of 2024, from US$2.65 bn in 2015. By configuration, diesel-electric systems held dominance with a share of 53.3% in the overall market in 2015. These systems are easy to configure and install, which fuels their demand in the market. Regionally, Europe held the dominant share of 34.60% in the global market in 2015. While the region is forecast to remain lead through the forecast period, soon demand from Asia Pacific will surge, steering shift in focus from Europe to emerging markets.

Marine Hybrid Propulsion Systems to Rank Higher on Account of their Fuel Efficiency

The marine industry is exploring systems ranking high on fuel-efficiency. Indigenous diesel mechanical propulsion systems usually consume the entire volume of installed power to function on a high power operating mode. Contrary to this, marine hybrid propulsion systems are connected to energy storage systems. The paradigm shift from fuel-based conventional systems to marine hybrid propulsion systems is thus steered by the latter’s fuel efficiency and cost-effectiveness. “With an increasing number of ship operators opting for renewable energy over conventional fuel at a storage option, the demand for marine hybrid propulsion systems is poised to surge further in the coming years,” said a lead TMR analyst.

Fill the form for an exclusive sample of this report @: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3911

Furthermore, government across the globe have been proactively aiming towards minimizing carbon emission. Stringent regulations implemented in this regard will fuel the installation of hybrid propulsion systems in the marine sector.

Volatility in Crude Oil Prices to Remain a Major Concern

On the downside, the market is still reeling under the volatility of crude oil prices. However, this ongoing price fluctuation has steered the switch from diesel to LNG as the fuel used in propulsion. Furthermore, the relatively low price of natural gas and LNG than conventional fuel in Europe and North America has attracted huge investments in the LNG bunkering infrastructure of these regions. Besides this, the shift from high-carbon to low-carbon emission systems in the marine sector will give considerable impetus to the global marine hybrid propulsion market. Also strict sulfur regulations around ports in Singapore will impel the industry adopt more fuel-efficient technologies, thus giving the market significant impetus.

This review is based on information published by TMR in a report, titled “Marine Hybrid Propulsion Market (Configuration Analysis - Diesel-electric, Parallel, and Serial; End-use Analysis - Tugboats & OSVs, Ferries, and Defense Vessels) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024.”

The report segments the global marine hybrid propulsion market as:

Marine Hybrid Propulsion Market: Configuration Analysis

Diesel-electric
Parallel
Serial

Marine Hybrid Propulsion Market: End-use Analysis

Tugboats & OSVs
Ferries
Defense Vessels
Others

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

US Office Contact

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

Name: Rohit Bhisey
Organization: Transparency Market Research
Website: http://www.transparencymarketresearch.com/marine-hybrid-propulsion-market.html

Latest News

Wolves' return to Oregon brings conflict and opportunity

Nov 23, 2017

PORTLAND, Ore. — Wolves have returned to Oregon after being killed off 70 years ago - and they're thriving. Since the first wolves successfully crossed from Idaho about a decade ago, the population has boomed to at least 112 wolves in 2016. Wolves have been so successful the state removed them from its endangered species list and they are no longer federally protected in one-third of the state. But with success comes conflict - and Oregon's wolves are now at a crossroads. Poaching cases have jumped, ranchers complain wolves are eating livestock and a hunter says he killed a wolf...

Lofty Thanksgiving: Astronauts feasting on pouches of turkey

Nov 23, 2017

CAPE CANAVERAL, Fla. — Astronauts at the International Space Station will feast Thursday on pouches of Thanksgiving turkey. The three Americans, two Russians and one Italian will also rip into single-serving bags of mashed potatoes, candied yams, cornbread stuffing and cranberry-apple dessert. Just add water, heat and bon appetit! Commander Randy Bresnik said he'll miss his wife's home cooking, but appreciate next year's Thanksgiving that much more. This is his second Thanksgiving off the planet; he was aboard space shuttle Atlantis in November 2009. "We're going to celebrate a lot like we did when we were deployed in the service,"...

VA study shows parasite from Vietnam may be killing veterans

Nov 23, 2017

HERALD, W.Va. — A half a century after serving in Vietnam, hundreds of veterans have a new reason to believe they may be dying from a silent bullet — test results show some men may have been infected by a slow-killing parasite while fighting in the jungles of Southeast Asia. The Department of Veterans Affairs this spring commissioned a small pilot study to look into the link between liver flukes ingested through raw or undercooked fish and a rare bile duct cancer. It can take decades for symptoms to appear. By then, patients are often in tremendous pain, with just...

Russia confirms spike in radioactivity in the Urals

Nov 23, 2017

MOSCOW — Russian authorities on Tuesday confirmed reports of a spike in radioactivity in the air over the Ural Mountains while the suspected culprit, a nuclear fuel processing plant, denied it was the source of contamination. The Russian Meteorological Service said in a statement Tuesday that it recorded the release of Ruthenium-106 in the southern Urals in late September and classified it as "extremely high contamination." Russian authorities insisted, however, that the amount of Ruthenium posed no health risks. France's nuclear safety agency earlier this month said that it recorded radioactivity in the area between the Volga River and the...

Branagh, Friel among winners of International Emmy Awards

Nov 23, 2017

NEW YORK — Kenneth Branagh won the International Emmy for Best Actor, while Anna Friel won the Best Actress trophy at the 2017 International Emmy Awards gala Monday night in New York. Branagh and Friel were among 11 winning performers and programs spanning eight countries: Belgium, Canada, France, Germany, Norway, Turkey, the United Kingdom and the United States. The awards are presented annually by the International Academy of Television Arts & Sciences, which represents more than 60 countries and 500 companies from all sectors of TV, including internet and mobile technology. The evening was hosted by Iranian-American comedian-actor Maz Jobrani,...

Search

Recent Discovery will take you to the captivating developments in science, technology, and the universe around us. We deliver to you the latest news, theories, and developments in the world of science.

Contact us: sales@recentdiscovery.com

Trending News

ScienceAgricultural ScienceArchaeologyAstronomy Press