The latest update of “Global Marine Hybrid and Full Electric Propulsion Market” released by Stratagem Market Insights, forecasts further growth in the global supply and demand. The market report builds upon our previous iteration and the new release reinforces the sentiment that the 2021-2028 period is expected to be a promising period for the global Marine Hybrid and Full Electric Propulsion Market.
Overview of the Marine Hybrid and Full Electric Propulsion Market:
Marine propulsion is a mechanism or system used to generate thrust to move a ship or boat across water. Hybrid marine propulsion systems are used in almost all types of vessels such as tugboats, ferries, yachts, defense vessels, and recreational vessels.
Increasing demand for zero-emissions vessels is expected to propel growth of the global hybrid and full electric marine propulsion market over the forecast period. For instance, in June 2020, Wärtsilä Corporation received a contract to design and equip two new zero-emissions ferries for Norwegian operator Boreal Sjö at Holland Shipyards in the Netherlands. Moreover, concerns regarding carbon emission are also expected to aid in growth of the market. For instance, according to Energy Statistical Yearbook 2019, in 2018, carbon dioxide emissions in the U.S. increased by 3.1% compared to that in 2017.
Concerns regarding air pollution is expected to offer lucrative growth opportunities for players in the global hybrid and full electric marine propulsion market. For instance, according to Health Effects Institute estimates (provided by University of Texas at Austin), air pollution was the fifth leading risk factor for mortality worldwide in 2019.
The Covid-19 pandemic has adversely impacted the tourism sector, thereby limiting the demand for vessels such as tugboats, ferries, yachts, defense vessels, and recreational vessels. For instance, globally, as of 3:50pm CEST, 22 June 2020, there have been 8,860,331 confirmed cases of COVID-19, including 465,740 deaths, reported to the World Health Organization. Such scenario is expected to hinder growth of the global hybrid and full electric marine propulsion market.
Key Takeaways
- Increasing demand for hybrid propulsion vessels to augment growth of the global hybrid and full electric marine propulsion market over the forecast period. For instance, in April 2020, MAN Energy Solutions received an order to supply 6 × MAN B&W 9S50ME-C9.6 Tier II-compliant main engines for 3 × 238-metre RoRo vessels intended for operation in the Baltic Sea from Finnlines PLC., a Finland-based shipping company.
- Major players in the market are focused on developing sustainable inland waterway shipping. For instance, in June 2020, Wärtsilä Corporation joined a consortium of key partners to form Zero Emission Services B.V., an enterprise aimed at making inland waterway shipping more sustainable.
- Major players operating in the global hybrid and full electric marine propulsion market include, AB Volvo Penta, BAE Systems, Caterpillar Inc., Cummins Inc., Fairbanks Morse Engine, MAN Diesel & Turbo SE, Masson-Marine S.A.S, Niigata Power Systems Co. Ltd., Rolls Royce Plc, STEYR MOTORS GmbH, Torqeedo GmbH, and Wärtsilä Corporation.
Market Estimation:
The data processed and validated in secondary and primary research is analyzed to compute market estimation statistics. It involves market breakdown, bottom-up, and top-down research. Our research team considers macroeconomic factors to forecast a comprehensive statistical time series. Each data point is validated through the process data triangulation method to derive the final market estimation.
COVID-19 Impact:
The updated report, free extract available, comes with an option to access premium features that covers extensive past, current, and future data. Other valuable updates to the global Marine Hybrid and Full Electric Propulsion Market report include a reviewed and refined pricing model for manufacturing and launch prices. The report incorporates new content to help give decision-makers key knowledge about the market and offers up-to-date forecasts accounting for the economic situation and impact of COVID-19.
Market Competition Assessment:
The Marine Hybrid and Full Electric Propulsion Market is observed as the most diversified and competitive market comprising a large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are
- Cummins Inc.
- AB Volvo
- IHI Power Systems Co.,Ltd.
- General Electric
- Caterpillar
- BAE Systems Fairbanks Morse
- Masson Marine
- Wartsila Corporation
- Rolls-Royce plc
- STEYR MOTORS GmbH
- MAN Diesel & Turbo SE
- Torqeedo GmbH
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2028. For the purpose of this study, Stratagem Market Insights has segmented the global Marine Hybrid and Full Electric Propulsion Market report on the basis of Types, Applications, and Regions.
By Product Type, the market is primarily segmented into:
- Hybrid Propulsion
- Full Electric Propulsion
By Applications, the market is segmented into:
- Tugboats
- Offshore Support Vehicles
- Ferries
- Defense Vessels
- Yachts
- Cruise Ships
- Others (including Oil Tankers, Cargo Ships, Container Ships, and Roll-on & Roll-off Ships)
The report covers the following Regions:
- North America
- Latin America
- Europe
- Asia Pacific
- Africa
- Middle East
Primary Research Insights:
The process of primary research starts with the verification and validation of every detail obtained in secondary research. This is done with the help of industry experts and in-house analysts who check the authentication of the data. Stratagem Market Insights also ensures that our research is not restricted by certain boundaries, which is why we consult each individual in the value chain including raw materials suppliers, local vendors, wholesale dealers, distributors, etc. We also make sure that every detail provided in the document will hold a certain value and it will not be trivial information. Moreover, current market trends, growth opportunities, drivers, and restraints are computed in primary research only.
The Report Sheds Light on Various Aspects of the Market, Some of the important ones are:
- What can be the best investment choices for venturing into new product and service lines?
- Which regions might see the demand maturing in certain segments in near future?
- Which government regulations might challenge the status of key regional markets?
- What are some of the value-grab opportunities in various segments?
- What will be the barrier to entry for new players in the market?
Why You Should Buy This Report:
- The report provides an all-inclusive environment of the analysis for the market
- In-depth secondary research and primary interviews
- Impact of various social, political, and economic factors
- Porter’s Five Forces Analysis
- Competitive Landscape
Available Customizations:
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into a specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
Table of Content
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered: Ranking by Marine Hybrid and Full Electric Propulsion Market Revenue
1.4 Market Analysis by Type
1.5 Market by Application
1.5.1 Global Marine Hybrid and Full Electric Propulsion Market Share by Application: 2021 VS 2027
1.6 Coronavirus Disease 2019 (Covid-19) Impact: Marine Hybrid and Full Electric Propulsion Market
1.6.1 How the Covid-19 is Affecting the Marine Hybrid and Full Electric Propulsion Market
1.6.1.1 Marine Hybrid and Full Electric Propulsion Market Business Impact Assessment - Covid-19
1.6.2 Market Trends and Marine Hybrid and Full Electric Propulsion Market Potential Opportunities in the COVID-19 Landscape
1.6.3 Measures / Proposal against Covid-19
1.6.3.1 Government Measures to Combat Covid-19 Impact
1.7 Study Objectives
1.8 Years Considered
2 Global Growth Trends by Regions
2.1 Marine Hybrid and Full Electric Propulsion Market Perspective (2015-2027)
2.2 Marine Hybrid and Full Electric Propulsion Market Growth Trends by Regions
2.2.1 Marine Hybrid and Full Electric Propulsion Market Size by Regions: 2015 VS 2021 VS 2027
2.2.2 Marine Hybrid and Full Electric Propulsion Market Historic Market Share by Regions (2015-2021)
2.2.3 Marine Hybrid and Full Electric Propulsion Market Forecasted Market Size by Regions (2021-2027)
2.3 Industry Trends and Growth Strategy
2.3.1 Market Top Trends
2.3.2 Market Drivers
2.3.3 Market Challenges
2.3.4 Porters Five Forces Analysis
2.3.5 Marine Hybrid and Full Electric Propulsion Market Growth Strategy
2.3.6 Primary Interviews with Key Marine Hybrid and Full Electric Propulsion Market Players (Opinion Leaders)
3 Competition Landscape by Key Players
3.1 Global Top Marine Hybrid and Full Electric Propulsion Market Players by Market Size
3.1.1 Global Top Marine Hybrid and Full Electric Propulsion Market Players by Revenue (2015-2021)
3.1.2 Global Marine Hybrid and Full Electric Propulsion Market Revenue Market Share by Players (2015-2021)
3.1.3 Global Marine Hybrid and Full Electric Propulsion Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
3.2 Global Marine Hybrid and Full Electric Propulsion Market Concentration Ratio
3.2.1 Global Marine Hybrid and Full Electric Propulsion Market Concentration Ratio (CR5 and HHI)
3.2.2 Global Top 10 and Top 5 Companies by Marine Hybrid and Full Electric Propulsion Market Revenue in 2019
3.3 Marine Hybrid and Full Electric Propulsion Market Key Players Head office and Area Served
3.4 Key Players Marine Hybrid and Full Electric Propulsion Market Product Solution and Service
3.5 Date of entering into Marine Hybrid and Full Electric Propulsion Market
3.6 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Type (2015-2027)
4.1 Global Marine Hybrid and Full Electric Propulsion Market Historic Market Size by Type (2015-2021)
4.2 Global Marine Hybrid and Full Electric Propulsion Market Forecasted Market Size by Type (2021-2027)
5 Marine Hybrid and Full Electric Propulsion Market Breakdown Data by Application (2015-2027)
5.1 Global Marine Hybrid and Full Electric Propulsion Market Size by Application (2015-2021)
5.2 Global Marine Hybrid and Full Electric Propulsion Market Forecasted Market Size by Application (2021-2027)
6 North America
6.1 North America Marine Hybrid and Full Electric Propulsion Market Size (2015-2021)
6.2 Marine Hybrid and Full Electric Propulsion Market Key Players in North America (2019-2021)
6.3 North America Marine Hybrid and Full Electric Propulsion Market Size by Type (2015-2021)
6.4 North America Marine Hybrid and Full Electric Propulsion Market Size by Application (2015-2021)
7 Europe
7.1 Europe Marine Hybrid and Full Electric Propulsion Market Size (2015-2021)
7.2 Marine Hybrid and Full Electric Propulsion Market Key Players in Europe (2019-2021)
7.3 Europe Marine Hybrid and Full Electric Propulsion Market Size by Type (2015-2021)
7.4 Europe Marine Hybrid and Full Electric Propulsion Market Size by Application (2015-2021)
8 China
8.1 China Marine Hybrid and Full Electric Propulsion Market Size (2015-2021)
8.2 Marine Hybrid and Full Electric Propulsion Market Key Players in China (2019-2021)
8.3 China Marine Hybrid and Full Electric Propulsion Market Size by Type (2015-2021)
8.4 China Marine Hybrid and Full Electric Propulsion Market Size by Application (2015-2021)
9 Japan
9.1 Japan Marine Hybrid and Full Electric Propulsion Market Size (2015-2021)
9.2 Marine Hybrid and Full Electric Propulsion Market Key Players in Japan (2019-2021)
9.3 Japan Marine Hybrid and Full Electric Propulsion Market Size by Type (2015-2021)
9.4 Japan Marine Hybrid and Full Electric Propulsion Market Size by Application (2015-2021)
10 Southeast Asia
10.1 Southeast Asia Marine Hybrid and Full Electric Propulsion Market Size (2015-2021)
10.2 Marine Hybrid and Full Electric Propulsion Market Key Players in Southeast Asia (2019-2021)
10.3 Southeast Asia Marine Hybrid and Full Electric Propulsion Market Size by Type (2015-2021)
10.4 Southeast Asia Marine Hybrid and Full Electric Propulsion Market Size by Application (2015-2021)
11 India
11.1 India Marine Hybrid and Full Electric Propulsion Market Size (2015-2021)
11.2 Marine Hybrid and Full Electric Propulsion Market Key Players in India (2019-2021)
11.3 India Marine Hybrid and Full Electric Propulsion Market Size by Type (2015-2021)
11.4 India Marine Hybrid and Full Electric Propulsion Market Size by Application (2015-2021)
12 Central & South America
12.1 Central & South America Marine Hybrid and Full Electric Propulsion Market Size (2015-2021)
12.2 Marine Hybrid and Full Electric Propulsion Market Key Players in Central & South America (2019-2021)
12.3 Central & South America Marine Hybrid and Full Electric Propulsion Market Size by Type (2015-2021)
12.4 Central & South America Marine Hybrid and Full Electric Propulsion Market Size by Application (2015-2021)
13 Key Players Profiles
13.1 Company Details
13.2 Business Overview and Its Total Revenue
13.3 Marine Hybrid and Full Electric Propulsion Market Introduction
13.4 Marine Hybrid and Full Electric Propulsion Market Business (2015-2021)
13.5 Recent Development
14 Analyst's Viewpoints/Conclusions
15 Appendix
15.1 Research Methodology
15.1.1 Methodology/Research Approach
15.1.2 Data Source
15.2 Disclaimer
15.3 Author Details
List of Table
Table 1. Marine Hybrid and Full Electric Propulsion Market Key Market Segments
Table 2. Key Players Covered: Ranking by Marine Hybrid and Full Electric Propulsion Market Revenue
Table 3. Ranking of Global Top Marine Hybrid and Full Electric Propulsion Market Manufacturers by Revenue (US$ Million) in 2019
Table 4. Global Marine Hybrid and Full Electric Propulsion Market Size Growth Rate by Type (US$ Million): 2021 VS 2027
Table 5. COVID-19 Impact Global Market
Table 6. Opportunities and Trends for Marine Hybrid and Full Electric Propulsion Market Players in the COVID-19 Landscape
Table 7. Present Opportunities in China & Elsewhere Due to the Coronavirus Crisis
Table 8. Key Regions/Countries Measures against Covid-19 Impact
Table 9. Proposal for Marine Hybrid and Full Electric Propulsion Market Players to Combat Covid-19 Impact
Table 10. Global Marine Hybrid and Full Electric Propulsion Market Size Growth by Application (US$ Million): 2021 VS 2027
Table 11. Global Marine Hybrid and Full Electric Propulsion Market Size by Regions (US$ Million): 2021 VS 2027
Table 12. Global Marine Hybrid and Full Electric Propulsion Market Size by Regions (2015-2021) (US$ Million)
Table 13. Global Marine Hybrid and Full Electric Propulsion Market Share by Regions (2015-2021)
Table 14. Global Marine Hybrid and Full Electric Propulsion Market Forecasted Market Size by Regions (2021-2027) (US$ Million)
Table 15. Global Marine Hybrid and Full Electric Propulsion Market Share by Regions (2021-2027)
Table 16. Market Top Trends
Table 17. Key Drivers: Impact Analysis
Table 18. Key Challenges
Table 19. Marine Hybrid and Full Electric Propulsion Market Growth Strategy
Table 20. Main Points Interviewed from Key Marine Hybrid and Full Electric Propulsion Market Players
Table 21. Global Marine Hybrid and Full Electric Propulsion Market Revenue by Players (2015-2021) (Million US$)
Table 22. Global Marine Hybrid and Full Electric Propulsion Market Share by Players (2015-2021)
Table 23. Global Top Marine Hybrid and Full Electric Propulsion Market Players by Company Type (Tier 1, Tier 2 and Tier 3) (based on the Revenue in Marine Hybrid and Full Electric Propulsion Market as of 2019)
Table 24. Global Marine Hybrid and Full Electric Propulsion Market by Players Market Concentration Ratio (CR5 and HHI)
Table 25. Key Players Headquarters and Area Served
Table 26. Key Players Marine Hybrid and Full Electric Propulsion Market Product Solution and Service
Table 27. Date of entering into Marine Hybrid and Full Electric Propulsion Market
Table 28. Mergers & Acquisitions, Expansion Plans
Table 29. Global Marine Hybrid and Full Electric Propulsion Market Size by Type (2015-2021) (Million US$)
Table 30. Global Marine Hybrid and Full Electric Propulsion Market Size Share by Type (2015-2021)
Table 31. Global Marine Hybrid and Full Electric Propulsion Market Revenue Market Share by Type (2021-2027)
Table 31. Global Marine Hybrid and Full Electric Propulsion Market Size Share by Application (2015-2021)
Table 33. Global Marine Hybrid and Full Electric Propulsion Market Size by Application (2015-2021) (Million US$)
Table 34. Global Marine Hybrid and Full Electric Propulsion Market Size Share by Application (2021-2027)
Table 35. North America Key Players Marine Hybrid and Full Electric Propulsion Market Revenue (2019-2021) (Million US$)
Table 36. North America Key Players Marine Hybrid and Full Electric Propulsion Market Share (2019-2021)
Table 37. North America Marine Hybrid and Full Electric Propulsion Market Size by Type (2015-2021) (Million US$)
Table 38. North America Marine Hybrid and Full Electric Propulsion Market Share by Type (2015-2021)
Table 39. North America Marine Hybrid and Full Electric Propulsion Market Size by Application (2015-2021) (Million US$)
Table 40. North America Marine Hybrid and Full Electric Propulsion Market Share by Application (2015-2021)
Table 41. Europe Key Players Marine Hybrid and Full Electric Propulsion Market Revenue (2019-2021) (Million US$)
Table 42. Europe Key Players Marine Hybrid and Full Electric Propulsion Market Share (2019-2021)
Table 43. Europe Marine Hybrid and Full Electric Propulsion Market Size by Type (2015-2021) (Million US$)
Table 44. Europe Marine Hybrid and Full Electric Propulsion Market Share by Type (2015-2021)
Table 45. Europe Marine Hybrid and Full Electric Propulsion Market Size by Application (2015-2021) (Million US$)
Table 46. Europe Marine Hybrid and Full Electric Propulsion Market Share by Application (2015-2021)
Table 47. China Key Players Marine Hybrid and Full Electric Propulsion Market Revenue (2019-2021) (Million US$)
Table 48. China Key Players Marine Hybrid and Full Electric Propulsion Market Share (2019-2021)
Table 49. China Marine Hybrid and Full Electric Propulsion Market Size by Type (2015-2021) (Million US$)
Table 50. China Marine Hybrid and Full Electric Propulsion Market Share by Type (2015-2021)
Table 51. China Marine Hybrid and Full Electric Propulsion Market Size by Application (2015-2021) (Million US$)
Table 52. China Marine Hybrid and Full Electric Propulsion Market Share by Application (2015-2021)
Table 53. Japan Key Players Marine Hybrid and Full Electric Propulsion Market Revenue (2019-2021) (Million US$)
Table 54. Japan Key Players Marine Hybrid and Full Electric Propulsion Market Share (2019-2021)
Table 55. Japan Marine Hybrid and Full Electric Propulsion Market Size by Type (2015-2021) (Million US$)
Table 56. Japan Marine Hybrid and Full Electric Propulsion Market Share by Type (2015-2021)
Table 57. Japan Marine Hybrid and Full Electric Propulsion Market Size by Application (2015-2021) (Million US$)
Table 58. Japan Marine Hybrid and Full Electric Propulsion Market Share by Application (2015-2021)
Table 59. Southeast Asia Key Players Marine Hybrid and Full Electric Propulsion Market Revenue (2019-2021) (Million US$)
Table 60. Southeast Asia Key Players Marine Hybrid and Full Electric Propulsion Market Share (2019-2021)
Table 61. Southeast Asia Marine Hybrid and Full Electric Propulsion Market Size by Type (2015-2021) (Million US$)
Table 62. Southeast Asia Marine Hybrid and Full Electric Propulsion Market Share by Type (2015-2021)
Table 63. Southeast Asia Marine Hybrid and Full Electric Propulsion Market Size by Application (2015-2021) (Million US$)
Table 64. Southeast Asia Marine Hybrid and Full Electric Propulsion Market Share by Application (2015-2021)
Table 65. India Key Players Marine Hybrid and Full Electric Propulsion Market Revenue (2019-2021) (Million US$)
Table 66. India Key Players Marine Hybrid and Full Electric Propulsion Market Share (2019-2021)
Table 67. India Marine Hybrid and Full Electric Propulsion Market Size by Type (2015-2021) (Million US$)
Table 68. India Marine Hybrid and Full Electric Propulsion Market Share by Type (2015-2021)
Table 69. India Marine Hybrid and Full Electric Propulsion Market Size by Application (2015-2021) (Million US$)
Table 70. India Marine Hybrid and Full Electric Propulsion Market Share by Application (2015-2021)
Table 71. Central & South America Key Players Marine Hybrid and Full Electric Propulsion Market Revenue (2019-2021) (Million US$)
Table 72. Central & South America Key Players Marine Hybrid and Full Electric Propulsion Market Share (2019-2021)
Table 73. Central & South America Marine Hybrid and Full Electric Propulsion Market Size by Type (2015-2021) (Million US$)
Table 74. Central & South America Marine Hybrid and Full Electric Propulsion Market Share by Type (2015-2021)
Table 75. Central & South America Marine Hybrid and Full Electric Propulsion Market Size by Application (2015-2021) (Million US$)
Table 76. Central & South America Marine Hybrid and Full Electric Propulsion Market Share by Application (2015-2021)
Table 77. Company Details
Table 78. Business Overview
Table 79. Product details
Table 80. Revenue in Marine Hybrid and Full Electric Propulsion Market Business (2015-2021) (Million US$)
Table 81. Recent Development
List of Figures
Figure 1. Global Marine Hybrid and Full Electric Propulsion Market Share by Type: 2021 VS 2027
Figure 2. Global Marine Hybrid and Full Electric Propulsion Market Share by Application: 2021 VS 2027
Figure 3. Emergency Care Case Studies
Figure 4. Outpatient Facilities Case Studies
Figure 5. Hospitals Case Studies
Figure 6. Home Healthcare Facilities Case Studies
Figure 7. Marine Hybrid and Full Electric Propulsion Market Report Years Considered
Figure 8. Global Marine Hybrid and Full Electric Propulsion Market Size YoY Growth 2015-2027 (US$ Million)
Figure 9. Global Marine Hybrid and Full Electric Propulsion Market Share by Regions: 2021 VS 2027
Figure 10. Global Marine Hybrid and Full Electric Propulsion Market Share by Regions (2021-2027)
Figure 11. Porter's Five Forces Analysis
Figure 12. Global Marine Hybrid and Full Electric Propulsion Market Share by Players in 2019
Figure 13. Global Top Marine Hybrid and Full Electric Propulsion Market Players by Company Type (Tier 1, Tier 2, and Tier 3) (based on the Revenue in Marine Hybrid and Full Electric Propulsion Market as of 2019
Figure 14. The Top 10 and 5 Players Market Share by Marine Hybrid and Full Electric Propulsion Market Revenue in 2019
Figure 15. North America Marine Hybrid and Full Electric Propulsion Market Size YoY Growth (2015-2021) (Million US$)
Figure 16. Europe Marine Hybrid and Full Electric Propulsion Market Size YoY Growth (2015-2021) (Million US$)
Figure 17. China Marine Hybrid and Full Electric Propulsion Market Size YoY Growth (2015-2021) (Million US$)
Figure 18. Japan Marine Hybrid and Full Electric Propulsion Market Size YoY Growth (2015-2021) (Million US$)
Figure 19. Southeast Asia Marine Hybrid and Full Electric Propulsion Market Size YoY Growth (2015-2021) (Million US$)
Figure 20. India Marine Hybrid and Full Electric Propulsion Market Size YoY Growth (2015-2021) (Million US$)
Figure 21. Central & South America Marine Hybrid and Full Electric Propulsion Market Size YoY Growth (2015-2021) (Million US$)
Figure 22. Bottom-up and Top-down Approaches for This Report
Figure 23. Data Triangulation
Figure 24. Key Executives Interviewed
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