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

UNICEF says Pakistan is riskiest country for newborns

Feb 24, 2018

ISLAMABAD — The U.N. children's agency in a report released Tuesday singled out Pakistan as the riskiest country for newborns, saying that out of every 1,000 children born in Pakistan, 46 die at birth. "It's abysmal," said Dr. Ghazna Khalid, a leading obstetrician in Pakistan's northwestern Khyber Pukhtunkhwa Province. "We don't need front-line medical doctors. We have plenty of them. We need skilled midwives." The report, with its dismal figures that show South Asia and sub-Saharan Africa as the worst places for a child to be born, is part of UNICEF's new campaign, launched to raise awareness to bring down...

New Bollywood film tackles taboo of menstrual hygiene

Feb 24, 2018

NEW DELHI — It's an unlikely scene in deeply conservative India: A hugely popular Bollywood male star grinning widely as he holds up a sanitary pad and talks of menstrual hygiene. But that's exactly what action hero Akshay Kumar did as he promoted his film "Padman," which opened in theaters Friday. Kumar plays the lead role of a man who starts manufacturing inexpensive sanitary pads after he discovers his wife's lack of access to them in a small town in southern India. The subject of menstruation and menstrual hygiene is rarely, if ever, discussed openly in Indian homes. At pharmacies...

Rescued French climber leaves Pakistan after peak tragedy

Feb 24, 2018

ISLAMABAD — A mountain climber who was rescued from a Himalayan peak where her climbing partner is presumed to have died has returned home to France, a representative of a Pakistani mountaineering group said Tuesday. Karrar Haidri of the Alpine Club of Pakistan said Elisabeth Revol left Pakistan before dawn. Revol praised everyone who participated in rescuing her from Nanga Parbat, said Haidri, who visited her at the Islamabad where she was treated. Suffering from frostbite and exhaustion, Revol was rescued Sunday by Polish climbers who were on a separate expedition and braved high winds and low nighttime temperatures to...

Rescued French climber recovering in Pakistani hospital

Feb 24, 2018

ISLAMABAD — A French climber rescued from a Himalayan peak is recovering and will soon return home, Pakistani officials said. Elisabeth Revol, suffering from frostbite and exhaustion, was rescued by volunteers from a separate Polish expedition on Sunday from Nanga Parbat, also known as "killer mountain." She was airlifted to Islamabad and was being treated at the Shifa International Hospital. Karrar Haidri, a senior official in the Pakistan Alpine Federation who visited her in the hospital, said she would be discharged within hours and head home early Tuesday. The search for Revol's fellow climber, Polish national Tomasz Mackiewicz, was called...

The Latest: Trump condemns car bomb attack in Afghanistan

Feb 24, 2018

KABUL, Afghanistan — The Latest on a deadly explosion caused by a suicide bomber driving an ambulance in Afghanistan (all times local): 2:35 a.m. President Donald Trump is condemning "the despicable car bombing attack" in the Afghan capital of Kabul that has killed at least 95 people and wounded 158 more. He says "all countries should take decisive action" against the Taliban, which has claimed responsibility for Saturday's attack. Trump says the "murderous attack" renews the U.S. resolve with its Afghan partners. He says, "The Taliban's cruelty will not prevail" and the U.S. is "committed to a secure Afghanistan that...

Sign up now!

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