Marine Hybrid Propulsion Market

Global Marine Hybrid Propulsion Market Size, Trends & Analysis - Forecasts to 2027 By Product Type (Diesel-Electric, Parallel Electric, and Serial Hybrid), By End-Use (Tugboats, Offshore Support Vessels, Ferries, Defense Vessels, Yacht, and Cruise Ships), By Power Ratings (0-300 kW, 301-500 kW, 501-800 kW, and Above 801 kW), By Stroke (Two Stroke and Four Stroke), By RPM (0-1,000 RPM, 1,001-2,500 RPM, and Above 2,500 RPM), By Region (North America, Asia Pacific, Central, and South America, Europe, and the Middle East and Africa), Competitive Landscape Company Market Share Analysis, and Competitor Analysis

Category Automotive & Transportation

Format

This report was recently updated on July 20 2024 with the latest and most recent market numbers

Global Marine Hybrid Propulsion Market Size

The Global Marine Hybrid Propulsion Market is projected to grow at a CAGR value of 13.9% from 2022 to 2027.

Hybrid propulsion systems have the ability to combine battery power with combustion engines in order to decrease emissions and operate more efficiently. In hybrid propulsion, the vehicle uses two or more sources for propulsion activity and is used simultaneously or alternatively. As per the International Chamber of Shipping, maritime trade has reached USD 14 trillion. This has made the shipping industry explore innovative solutions to problems such as fossil fuel emissions and increasing maintenance costs. The marine hybrid propulsion system is better than a traditional propulsion system owing to its ability to provide increased uptime and a better engine load.

The market will be driven during the forecast period by the increase in manufacturing of commercial and defense ships and cargo vessels, rising demand for fuel efficient systems in the maritime industry, stringent rules and regulations with respect to fuel emissions due to maritime activities, and substantial increase in the budgets allotted to naval defense.

global marine hybrid propulsion market

COVID-19 Impact on Global Marine Hybrid Propulsion Market

The COVID-19 pandemic has affected maritime trade and tourism with indirect harmful effects on the maritime parts and equipment manufacturing industries. There has also been a halt in the manufacturing sector owing to reverse migration by laborers, disruption in global supply chains, and lacks investments due to uncertainty in the market. The shipping industry is looking into innovations that would save costs for its consumers due to the decrease in the purchasing power of many customers. The integration of marine hybrid propulsion systems helps the maritime industry to propagate cost-effective maritime solutions to the public and increase its customer base. The post-pandemic period would see a substantial increase in the usage of marine hybrid propulsion in the shipping industry.

Ukraine-Russia War Impact on Marine Hybrid Propulsion Market

The ongoing political tension between Russia and Ukraine shows the evident impact on various sectors. Demand for the battery-powered propulsion systems in the marine industry of these two countries is hampered as well. The prices of systems have hit the highest range in Russia since January 2022. The blockage in their trade has hampered other nations and hence the global supply. The other European markets also witnessed high prices in the market. Hence, the market is ought to be impacted by the prolonged state of war.

Global Marine Hybrid Propulsion Market: By Product Type

The diesel-electric segment is expected to be the largest segment in the market from 2022 to 2027. Diesel-electric-based propulsion helps in the smoother running of ships and vessels. The diesel-electric propulsion system uses power propellers to remove the damage created by a fixed-pitch-based propellor. This leads to more fuel efficiency hence saving additional costs. The diesel-electric propulsion system is also adept at operating at required speeds leading to the optimization of fuel.

The fully electric product type is projected to be the fastest-growing segment during the forecast period. The segment's growth is due to the increasing environmental advantages of lower emissions and fuel consumption. It provides enhanced performance in harsh ice conditions due to maximum torque at zero speed.

Global Marine Hybrid Propulsion Market: By End-Use

The tugboats segment is expected to be the fastest-growing segment in the market from 2022 to 2027. Several companies offer packages containing batteries, engines, and energy management systems as a part of their hybrid propulsion package to tugboats. Tugboats are constantly upgrading their systems by integrating hybrid propulsion to decrease upfront investment, reduce maintenance costs, and along with this, reduce carbon emissions.

Ferries have been identified as the primary end-user and hence will be the fastest growing segment in the market. Ferry companies, particularly in Europe, are expected to invest significant sums in the installation of hybrid propulsion systems in their vessels.

Global Marine Hybrid Propulsion: By Power Ratings

In 2021, the market was dominated by the 0-300 kW segment. The market is growing due to an increase in demand for platform supply vessels, yachts, and anchor handling tug supply vessels for various purposes.

The 301-500 kW segment is expected to be the fastest-growing segment in the market from 2022 to 2027. Companies such as Mitsubishi offer complete marine hybrid propulsion engine systems that work in the range of 300kW to 500KW. Marine hybrid propulsion systems between 300 kW to 500 kW are used in ferries, fishing vessels, and inland cargo vessels.

Global Marine Hybrid Propulsion: By Stroke

Based on the stroke, the marine hybrid propulsion market is divided into two strokes and four strokes. The two-stroke segment is expected to be the largest segment in the market from 2022 to 2027. Two-stroke marine hybrid propulsion is used more extensively than a four-stroke marine hybrid propulsion system owing to its features of being able to burn low-grade fuel hence saving costs. The two-stroke system also requires lesser maintenance and can carry more cargo due to its power-to-weight ratio.

Global Marine Hybrid Propulsion: By RPM

Based on the RPM, the marine hybrid propulsion market is divided into 0-1,000 RPM, 1,001-2,500 RPM, and Above 2,500 RPM. The 1,001-2500 segment is expected to be the largest segment in the market from 2022 to 2027.

There has been an increase in demand for maritime vehicles such as tugboats, ferries, and yachts which use RPM 1001-2500. The reason for the rapid demand for these vehicles is due to increasing international trade among countries and regions.

asia pacific marine hybrid propulsion market

Global Marine Hybrid Propulsion Market: By Region

North America (the United States, Canada, and Mexico) will have a dominant share in the Marine Hybrid Propulsion market from 2022 to 2027. The major factor driving the growth of the market in the North American region due to the rising trade and tourism, demand for fuel-efficient technology, and stringent rules and regulations on emissions.

United States is expected to hold a dominant share in the North American region, considering the presence of top players in this country, and the rapidly flourishing trade and tourism industry.

Moreover, the Asia Pacific (India, China, Japan, Malaysia, Singapore, and the Rest of Asia Pacific) region is expected to be the fastest-growing segment in the Marine Hybrid Propulsion market during the forecast period. Rapidly rising international trade among countries, increasing technological advancements, and fluctuating fuel prices will propel the market.

India is expected to be the fastest growing country in the Asia Pacific region. This is mainly due to increasing medical tourism, rising awareness about contract-based and third-party-based opportunities, and increasing trade and tourism sector.

Global Marine Hybrid Propulsion Market Share and Competitor Analysis

Cummins Inc, AB Volvo Penta, Rolls-Royce Plc, Nigata Power Systems Co., Ltd., Fairbanks Morse Engine, Masson-Marine S.A.S, Caterpillar Inc., BAE Systems pls, Wartsila Corporation, and MAN Diesel & Turbo SE among others are the key players in the marine hybrid propulsion market.

Please note: This is not an exhaustive list of companies profiled in the report.

The global market has observed several strategic alliances between companies to launch new products with added functionalities and maintain revenue share & profitability. Organic and inorganic growth strategies adopted by small players have been the highlight of this market. GME’s company profiles section will offer an in-depth analysis of all the top players in the market.

Chapter 1 Research Methodology

1.1 Research Assumptions

1.2 Research Methodology

1.2.1 Estimates and Forecast Timeline

1.3 Information Procurement

1.3.1 Purchased Database

1.3.2 GME’s Internal Database

1.3.3 Primary Research

1.3.4 Secondary Sources & Third-Party Perspectives

1.3.4.1 Company Information Sources

1.3.4.2 Secondary Data Sources

1.4 Information or Data Analysis

1.4.1 Data Analysis Models

1.5 Market Formulation & Data Visualization

1.6 Data Validation & Publishing

1.7 Market Model

1.7.1 Model Details

1.7.1.1 Top-Down Approach

1.7.1.2 Bottom-Up Approach

1.8 Market Segmentation & Scope

1.9 Market Definition

Chapter 2 Report Outlook

2.1. Global Market Outlook

2.2 Product Type Outlook

2.3 End-Use Outlook

2.4 Power Ratings Outlook

2.5 Stroke Outlook

2.6 RPM Outlook

2.7 Regional Outlook

Chapter 3 Global Global Marine Hybrid Propulsion Market Trend Analysis

3.1. Market Introduction

3.2 Penetration & Growth Prospect Mapping

3.3 Impact of COVID-19 on the Global Marine Hybrid Propulsion Market

3.4 Metric Data based on the industry

3.5 Market Dynamic Analysis

3.5.1 Market Driver Analysis

3.5.2 Market Restraint Analysis

3.5.3 Industry Challenges

3.5.4 Industry Opportunities

3.6 Porter’s Five Analysis

3.6.1 Supplier Power

3.6.2 Buyer Power

3.6.3 Substitution Threat

3.6.4 Threat from New Entrant

3.7 Market Entry Strategies

Chapter 4 Global Marine Hybrid Propulsion Market, By Product Type

4.1 Product Type Historic Data vs. Forecast Data Analysis, 2021 vs. 2027

4.2 Diesel-electric

4.2.1 Market Estimates & Forecast Analysis of Diesel-electric Segment, By Region, 2019-2027 (USD Million)

4.3 Parallel Electric

4.3.1 Market Estimates & Forecast Analysis of Diesel-electric Segment, By Region, 2019-2027 (USD Million)

4.4 Serial Hybrid

4.4.1 Market Estimates & Forecast Analysis of Diesel-electric Segment, By Region, 2019-2027 (USD Million)

Chapter 5 Global Marine Hybrid Propulsion Market, By End-Use

5.1 End-Use Outlook

5.2 Tugboats

5.2.1 Market Estimates & Forecast Analysis of Tugboats Segment, By Region, 2019-2027 (USD Million)

5.3 Offshore Support Vessels

5.3.1 Market Estimates & Forecast Analysis of Offshore Support Vessels Segment, By Region, 2019-2027 (USD Million)

5.4 Ferries

5.4.1 Market Estimates & Forecast Analysis of Ferries Segment, By Region, 2019-2027 (USD Million)

5.5 Defense Vessels

5.5.1 Market Estimates & Forecast Analysis of Defense Vessels Segment, By Region, 2019-2027 (USD Million)

5.6 Yacht

5.6.1 Market Estimates & Forecast Analysis of Yacht Segment, By Region, 2019-2027 (USD Million)

5.7 Cruise Ships

5.7.1 Market Estimates & Forecast Analysis of Cruise Ships Segment, By Region, 2019-2027 (USD Million)

Chapter 6 Global Marine Hybrid Propulsion Market, By Power Ratings

6.1 0-300 kW

6.1.1 Market Estimates & Forecast Analysis of 0-300 kW Segment, By Region, 2019-2027 (USD Million)

6.2 301-500 kW

6.2.1 Market Estimates & Forecast Analysis of 301-500 kW Segment, By Region, 2019-2027 (USD Million)

6.3 501-800 kW

6.3.1 Market Estimates & Forecast Analysis of 501-800 kW Segment, By Region, 2019-2027 (USD Million)

6.4 Above 801 kW

6.4.1 Market Estimates & Forecast Analysis of Above 801 kW Segment, By Region, 2019-2027 (USD Million)

Chapter 7 Global Marine Hybrid Propulsion Market, By Stroke

7.1 Two Stroke

7.1.1 Market Estimates & Forecast Analysis of Two Stroke Segment, By Region, 2019-2027 (USD Million)

7.2 Four Stroke

7.2.1 Market Estimates & Forecast Analysis of Four Stroke Segment, By Region, 2019-2027 (USD Million)

Chapter 8 Global Marine Hybrid Propulsion Market, By RPM

8.1 0-1,000 RPM

8.1.1 Market Estimates & Forecast Analysis of 0-1,000 RPM Segment, By Region, 2019-2027 (USD Million)

8.2 1,001-2500 RPM

8.2.1 Market Estimates & Forecast Analysis of 1,001-2500 RPM Segment, By Region, 2019-2027 (USD Million)

8.3 Above 2,500 RPM

8.2.1 Market Estimates & Forecast Analysis of Above 2,500 RPM Segment, By Region, 2019-2027 (USD Million)

Chapter 9 Global Marine Hybrid Propulsion Market, By Region

9.1 Regional outlook

9.2 North America

9.2.1 Market Estimates & Forecast Analysis, By Country 2019-2027 (USD Million)

9.2.2 Market Estimates & Forecast Analysis, By Product Type, 2019-2027 (USD Million)

9.2.3 Market Estimates & Forecast Analysis, By End-Use, 2019-2027 (USD Million)

9.2.4 Market Estimates & Forecast Analysis, By Power Ratings, 2019-2027 (USD Million)

9.2.5 Market Estimates & Forecast Analysis, By Stroke, 2019-2027 (USD Million)

9.2.6 Market Estimates & Forecast Analysis, By RPM, 2019-2027 (USD Million)

9.2.7 U.S.

9.2.7.1 Market Estimates & Forecast Analysis, By Product Type, 2019-2027 (USD Million)

9.2.7.2 Market Estimates & Forecast Analysis, By End-Use, 2019-2027 (USD Million)

9.2.7.3 Market Estimates & Forecast Analysis, By Power Ratings, 2019-2027 (USD Million)

9.2.7.4 Market Estimates & Forecast Analysis, By Stroke, 2019-2027 (USD Million)

9.2.7.5 Market Estimates & Forecast Analysis, By RPM, 2019-2027 (USD Million)

9.2.8 Canada

9.2.8.1 Market Estimates & Forecast Analysis, By Product Type, 2019-2027 (USD Million)

9.2.8.2 Market Estimates & Forecast Analysis, By End-Use, 2019-2027 (USD Million)

9.2.8.3 Market Estimates & Forecast Analysis, By Power Ratings, 2019-2027 (USD Million)

9.2.8.4 Market Estimates & Forecast Analysis, By Stroke, 2019-2027 (USD Million)

9.2.8.5 Market Estimates & Forecast Analysis, By RPM, 2019-2027 (USD Million)

9.2.9 Mexico

9.2.9.1 Market Estimates & Forecast Analysis, By Product Type, 2019-2027 (USD Million)

9.2.9.2 Market Estimates & Forecast Analysis, By End-Use, 2019-2027 (USD Million)

9.2.9.3 Market Estimates & Forecast Analysis, By Power Ratings, 2019-2027 (USD Million)

9.2.9.4 Market Estimates & Forecast Analysis, By Stroke, 2019-2027 (USD Million)

9.2.9.5 Market Estimates & Forecast Analysis, By RPM, 2019-2027 (USD Million)

9.3 Europe

9.3.1 Market Estimates & Forecast Analysis, By Country 2019-2027 (USD Million)

9.3.2 Market Estimates & Forecast Analysis, By Product Type, 2019-2027 (USD Million)

9.3.3 Market Estimates & Forecast Analysis, By End-Use, 2019-2027 (USD Million)

9.3.4 Market Estimates & Forecast Analysis, By Power Ratings, 2019-2027 (USD Million)

9.3.5 Market Estimates & Forecast Analysis, By Stroke, 2019-2027 (USD Million)

9.3.6 Market Estimates & Forecast Analysis, By RPM, 2019-2027 (USD Million)

9.3.7 Germany

9.3.7.1 Market Estimates & Forecast Analysis, By Product Type, 2019-2027 (USD Million)

9.3.7.2 Market Estimates & Forecast Analysis, By End-Use, 2019-2027 (USD Million)

9.3.7.3 Market Estimates & Forecast Analysis, By Power Ratings, 2019-2027 (USD Million)

9.3.7.4 Market Estimates & Forecast Analysis, By Stroke, 2019-2027 (USD Million)

9.3.7.5 Market Estimates & Forecast Analysis, By RPM, 2019-2027 (USD Million)

9.3.8 UK

9.3.8.1 Market Estimates & Forecast Analysis, By Product Type, 2019-2027 (USD Million)

9.3.8.2 Market Estimates & Forecast Analysis, By End-Use, 2019-2027 (USD Million)

9.3.8.3 Market Estimates & Forecast Analysis, By Power Ratings, 2019-2027 (USD Million)

9.3.8.4 Market Estimates & Forecast Analysis, By Stroke, 2019-2027 (USD Million)

9.3.8.5 Market Estimates & Forecast Analysis, By RPM, 2019-2027 (USD Million)

9.3.9 France

9.3.9.1 Market Estimates & Forecast Analysis, By Product Type, 2019-2027 (USD Million)

9.3.9.2 Market Estimates & Forecast Analysis, By End-Use, 2019-2027 (USD Million)

9.3.9.3 Market Estimates & Forecast Analysis, By Power Ratings, 2019-2027 (USD Million)

9.3.9.4 Market Estimates & Forecast Analysis, By Stroke, 2019-2027 (USD Million)

9.3.9.5 Market Estimates & Forecast Analysis, By RPM, 2019-2027 (USD Million)

9.3.10 Italy

9.3.10.1 Market Estimates & Forecast Analysis, By Product Type, 2019-2027 (USD Million)

9.3.10.2 Market Estimates & Forecast Analysis, By End-Use, 2019-2027 (USD Million)

9.3.10.3 Market Estimates & Forecast Analysis, By Power Ratings, 2019-2027 (USD Million)

9.3.10.4 Market Estimates & Forecast Analysis, By Stroke, 2019-2027 (USD Million)

9.3.10.5 Market Estimates & Forecast Analysis, By RPM, 2019-2027 (USD Million)

9.4 Asia Pacific

9.4.1 Market Estimates & Forecast Analysis, By Country 2019-2027 (USD Million)

9.4.2 Market Estimates & Forecast Analysis, By Product Type, 2019-2027 (USD Million)

9.4.3 Market Estimates & Forecast Analysis, By End-Use, 2019-2027 (USD Million)

9.4.4 Market Estimates & Forecast Analysis, By Power Ratings, 2019-2027 (USD Million)

9.4.5 Market Estimates & Forecast Analysis, By Stroke, 2019-2027 (USD Million)

9.4.6 Market Estimates & Forecast Analysis, By RPM, 2019-2027 (USD Million)

9.4.7 China

9.4.7.1 Market Estimates & Forecast Analysis, By Product Type, 2019-2027 (USD Million)

9.4.7.2 Market Estimates & Forecast Analysis, By End-Use, 2019-2027 (USD Million)

9.4.7.3 Market Estimates & Forecast Analysis, By Power Ratings, 2019-2027 (USD Million)

9.4.7.4 Market Estimates & Forecast Analysis, By Stroke, 2019-2027 (USD Million)

9.4.7.5 Market Estimates & Forecast Analysis, By RPM, 2019-2027 (USD Million)

9.4.8 India

9.4.8.1 Market Estimates & Forecast Analysis, By Product Type, 2019-2027 (USD Million)

9.4.8.2 Market Estimates & Forecast Analysis, By End-Use, 2019-2027 (USD Million)

9.4.8.3 Market Estimates & Forecast Analysis, By Power Ratings, 2019-2027 (USD Million)

9.4.8.4 Market Estimates & Forecast Analysis, By Stroke, 2019-2027 (USD Million)

9.4.8.5 Market Estimates & Forecast Analysis, By RPM, 2019-2027 (USD Million)

9.4.9 Japan

9.4.9.1 Market Estimates & Forecast Analysis, By Product Type, 2019-2027 (USD Million)

9.4.9.2 Market Estimates & Forecast Analysis, By End-Use, 2019-2027 (USD Million)

9.4.9.3 Market Estimates & Forecast Analysis, By Power Ratings, 2019-2027 (USD Million)

9.4.9.4 Market Estimates & Forecast Analysis, By Stroke, 2019-2027 (USD Million)

9.4.9.5 Market Estimates & Forecast Analysis, By RPM, 2019-2027 (USD Million)

9.5 MEA

9.5.1 Market Estimates & Forecast Analysis, By Country 2019-2027 (USD Million)

9.5.2 Market Estimates & Forecast Analysis, By Product Type, 2019-2027 (USD Million)

9.5.3 Market Estimates & Forecast Analysis, By End-Use, 2019-2027 (USD Million)

9.5.4 Market Estimates & Forecast Analysis, By Power Ratings, 2019-2027 (USD Million)

9.5.5 Market Estimates & Forecast Analysis, By Stroke, 2019-2027 (USD Million)

9.5.6 Market Estimates & Forecast Analysis, By RPM, 2019-2027 (USD Million)

9.5.7 Saudi Arabia

9.5.7.1 Market Estimates & Forecast Analysis, By Product Type, 2019-2027 (USD Million)

9.5.7.2 Market Estimates & Forecast Analysis, By End-Use, 2019-2027 (USD Million)

9.5.7.3 Market Estimates & Forecast Analysis, By Power Ratings, 2019-2027 (USD Million)

9.5.7.4 Market Estimates & Forecast Analysis, By Stroke, 2019-2027 (USD Million)

9.5.7.5 Market Estimates & Forecast Analysis, By RPM, 2019-2027 (USD Million)

9.5.8 UAE

9.5.8.1 Market Estimates & Forecast Analysis, By Product Type, 2019-2027 (USD Million)

9.5.8.2 Market Estimates & Forecast Analysis, By End-Use, 2019-2027 (USD Million)

9.5.8.3 Market Estimates & Forecast Analysis, By Power Ratings, 2019-2027 (USD Million)

9.5.8.4 Market Estimates & Forecast Analysis, By Stroke, 2019-2027 (USD Million)

9.5.8.5 Market Estimates & Forecast Analysis, By RPM, 2019-2027 (USD Million)

9.5.9 South Africa

9.5.9.1 Market Estimates & Forecast Analysis, By Product Type, 2019-2027 (USD Million)

9.5.9.2 Market Estimates & Forecast Analysis, By End-Use, 2019-2027 (USD Million)

9.5.9.3 Market Estimates & Forecast Analysis, By Power Ratings, 2019-2027 (USD Million)

9.5.9.4 Market Estimates & Forecast Analysis, By Stroke, 2019-2027 (USD Million)

9.5.9.5 Market Estimates & Forecast Analysis, By RPM, 2019-2027 (USD Million)

Chapter 10 Company Landscape

10.1 Key Global Players, Recent Developments & their Impact on the Industry

10.2 Four Quadrant Competitor Positioning Matrix

10.2.1 Key Innovators

10.2.2 Market Leaders

10.2.3 Emerging Players

10.2.4 Market Challengers

10.3 Vendor Landscape Analysis

10.4 End-User Landscape Analysis

10.5 Company Market Share Analysis, 2021

Chapter 11 Company Profile Analysis

11.2 Cummins Inc

11.2.1 Company Overview

11.2.2 Financial Analysis

11.2.3 Strategic Initiatives

11.2.4 Product Benchmarking

11.3 AB Volvo Penta

11.3.1 Company Overview

11.3.2 Financial Analysis

11.3.3 Strategic Initiatives

11.3.4 Product Benchmarking

11.4 Rolls-Royce Plc

11.4.1 Company Overview

11.4.2 Financial Analysis

11.4.3 Strategic Initiatives

11.4.4 Product Benchmarking

11.5 Nigata Power Systems Co., Ltd.

11.5.1 Company Overview

11.5.2 Financial Analysis

11.5.3 Strategic Initiatives

11.5.4 Product Benchmarking

11.6 Fairbanks Morse Engine

11.6.1 Company Overview

11.6.2 Financial Analysis

11.6.3 Strategic Initiatives

11.6.4 Product Benchmarking

11.7 Masson-Marine S.A.S

11.7.1 Company Overview

11.7.2 Financial Analysis

11.7.3 Strategic Initiatives

11.7.4 Product Benchmarking

11.8 Caterpillar Inc.

11.10.1 Company Overview

11.10.2 Financial Analysis

11.10.3 Strategic Initiatives

11.10.4 Product Benchmarking

11.11 BAE Systems plc

11.10.1 Company Overview

11.10.2 Financial Analysis

11.10.3 Strategic Initiatives

11.10.4 Product Benchmarking

11.10 Wartsila Corporation

11.10.1 Company Overview

11.10.2 Financial Analysis

11.10.3 Strategic Initiatives

11.10.4 Product Benchmarking

11.11 MAN Diesel & Turbo SE

11.11.1 Company Overview

11.11.2 Financial Analysis

11.11.3 Strategic Initiatives

11.11.4 Product Benchmarking

List of Tables

1 Technological Advancements in Marine Hybrid Propulsion Market

2 Global Marine Hybrid Propulsion Market: Key Market Drivers

3 Global Marine Hybrid Propulsion Market: Key Market Challenges

4 Global Marine Hybrid Propulsion Market: Key Market Opportunities

5 Global Marine Hybrid Propulsion Market: Key Market Restraints

6 Global Marine Hybrid Propulsion Market Estimates & Forecast Analysis, 2019-2027 (USD Million)

7 Global Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

8 Global Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

9 Global Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

10 Global Marine Hybrid Propulsion Market, By Stroke, 2019-2027 (USD Million)

11 Global Marine Hybrid Propulsion Market, By RPM, 2019-2027 (USD Million)

12 Regional Analysis: Global Marine Hybrid Propulsion Market, By Region, 2019-2027 (USD Million)

13 North America: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

14 North America: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

15 North America: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

16 North America: Marine Hybrid Propulsion Market, By Country, 2019-2027 (USD Million)

17 North America: Marine Hybrid Propulsion Market, By Stroke, 2019-2027 (USD Million)

18 North America: Marine Hybrid Propulsion Market, By RPM, 2019-2027 (USD Million)

19 U.S: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

20 U.S: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

21 U.S: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

22 U.S. Marine Hybrid Propulsion Market, By Stroke, 2019-2027 (USD Million)

23 U.S. Marine Hybrid Propulsion Market, By RPM, 2019-2027 (USD Million)

24 Canada: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

25 Canada: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

26 Canada: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

27 Canada: Marine Hybrid Propulsion Market, By Stroke, 2019-2027 (USD Million)

28 Canada: Marine Hybrid Propulsion Market, By RPM, 2019-2027 (USD Million)

29 Mexico: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

30 Mexico: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

31 Mexico: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

32 Mexico: Marine Hybrid Propulsion Market, By Stroke, 2019-2027 (USD Million)

33 Mexico: Marine Hybrid Propulsion Market, By RPM, 2019-2027 (USD Million)

34 Europe: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

35 Europe: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

36 Europe: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

37 Europe: Marine Hybrid Propulsion Market, By Country, 2019-2027 (USD Million)

38 Germany: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

39 Germany: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

40 Germany: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

41 UK: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

42 UK: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

43 UK: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

44 France: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

45 France: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

46 France: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

47 Italy: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

48 Italy: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

49 Italy: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

50 Spain: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

51 Spain: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

52 Spain: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

53 Rest Of Europe: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

54 Rest Of Europe: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

55 Rest Of Europe: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

56 Asia Pacific: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

57 Asia Pacific: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

58 Asia Pacific: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

59 Asia Pacific: Marine Hybrid Propulsion Market, By Country, 2019-2027 (USD Million)

60 China: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

61 China: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

62 China: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

63 India: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

64 India: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

65 India: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

66 Japan: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

67 Japan: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

68 Japan: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

69 South Korea: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

70 South Korea: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

71 South Korea: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

72 Middle East & Africa: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

73 Middle East & Africa: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

74 Middle East & Africa: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

75 Middle East & Africa: Marine Hybrid Propulsion Market, By Country, 2019-2027 (USD Million)

76 Saudi Arabia: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

77 Saudi Arabia: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

78 Saudi Arabia: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

79 UAE: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

80 UAE: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

81 UAE: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

82 Central & South America: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

83 Central & South America: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

84 Central & South America: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

85 Central & South America: Marine Hybrid Propulsion Market, By Country, 2019-2027 (USD Million)

86 Brazil: Marine Hybrid Propulsion Market, By Product Type, 2019-2027 (USD Million)

87 Brazil: Marine Hybrid Propulsion Market, By Power Ratings, 2019-2027 (USD Million)

88 Brazil: Marine Hybrid Propulsion Market, By End-Use, 2019-2027 (USD Million)

89 Cummins Inc: Products Offered

90 AB VOLVO PENTA: Products Offered

91 Rolls-Royce Plc.: Products Offered

92 Nigata Power Systems Co., Ltd.: Products Offered

93 FAIRBANKS MORSE ENGINE: Products Offered

94 Masson-Marine S.A.S, Caterpillar Inc.: Products Offered

95 BAE Systems pls: Products Offered

96 Wartsila Corporation: Products Offered

97 MAN Diesel & Turbo SE: Products Offered

98 Other Companies: Products Offered

List of Figures

1. Global Marine Hybrid Propulsion Market Segmentation & Research Scope

2. Primary Research Partners and Local Informers

3. Primary Research Process

4. Primary Research Approaches

5. Primary Research Responses

6. Global Marine Hybrid Propulsion Market: Penetration & Growth Prospect Mapping

7. Global Marine Hybrid Propulsion Market: Value Chain Analysis

8. Global Marine Hybrid Propulsion Market Drivers

9. Global Marine Hybrid Propulsion Market Restraints

10. Global Marine Hybrid Propulsion Market Opportunities

11. Global Marine Hybrid Propulsion Market Challenges

12. Key Marine Hybrid Propulsion Market Manufacturer Analysis

13. Global Marine Hybrid Propulsion Market: Porter’s Five Forces Analysis

14. PESTLE Analysis & Impact Analysis

15. Cummins Inc: Company Snapshot

16. Cummins Inc: SWOT Analysis

17. AB VOLVO PENTA: Company Snapshot

18. AB VOLVO PENTA: SWOT Analysis

19. Rolls-Royce Plc.: Company Snapshot

20. Rolls-Royce Plc.: SWOT Analysis

21. Nigata Power Systems Co., Ltd.: Company Snapshot

22. Nigata Power Systems Co., Ltd.: SWOT Analysis

23. Fairbanks Morse Engine: Company Snapshot

24. Fairbanks Morse Engine: SWOT Analysis

25. Masson-Marine S.A.S, Caterpillar Inc.: Company Snapshot

26. Masson-Marine S.A.S, Caterpillar Inc.: SWOT Analysis

27. BAE Systems pls: Company Snapshot

28. BAE Systems pls: SWOT Analysis

29. WARTSILA CORPORATION: Company Snapshot

30. WARTSILA CORPORATION: SWOT Analysis

31. MAN Diesel & Turbo SE: Company Snapshot

32. MAN Diesel & Turbo SE: SWOT Analysis

33. Other Companies: Company Snapshot

34. Other Companies: SWOT Analysis

The Global Marine Hybrid Propulsion Market has been studied from the year 2019 till 2027. However, the CAGR provided in the report is from the year 2022 to 2027. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Marine Hybrid Propulsion Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

What is the projected market size of the global marine hybrid propulsion market?

The global marine hybrid propulsion market is projected to grow at a CAGR value of 13.9% from 2022 to 2027.

Who are the major vendors in the marine hybrid propulsion market?

Cummins Inc, AB Volvo Penta, Rolls-Royce Plc, Nigata Power Systems Co., Ltd., Fairbanks Morse Engine, Masson-Marine S.A.S, Caterpillar Inc., BAE Systems pls, Wartsila Corporation and MAN Diesel & Turbo SE among others are the key players in the marine hybrid propulsion market.

What is the Covid-19 impact on future marine hybrid propulsion manufacturers?

The COVID-19 pandemic has affected the maritime trade and tourism with indirect harmful effects on the maritime parts and equipment manufacturing industries. There has also been a halt in the manufacturing sector owing to reverse migration by labourers, disruption in global supply chains and lacks of investments due to uncertainty in the market.

What are the major drivers in the marine hybrid propulsion market?

During the forecast period, the market will be driven by an increase in the production of commercial and defence ships and cargo vessels, rising demand for fuel efficient systems in the maritime industry, stricter rules and regulations regarding fuel emissions from maritime activities, and a significant increase in the budgets allotted to naval defence.

What is the impact of the Ukraine-Russia war on the marine sector?

The on-going political tension between Russia and Ukraine shows evident impact on various sectors. Demand for the battery-powered propulsion systems in the marine industry of these two countries is hampered as well. The prices of systems have hit the highest range in Russia since January 2022. The blockage in their trade has hampered other nations and hence the global supply.