Pune, India -- (SBWIRE) -- 08/31/2018 -- Global Market Overview:-

The global marine hybrid propulsion system market is expected to witness phenomenal growth during the forecast period. This is due to the substantial development in the operation of hybrid marine propulsion system in the recently built ships along with the upsurge in global maritime activity. The progress is principally accredited to the strict rules for emissions at sea level, has enhanced marine hybrid propulsion system market in various countries, which is likely to endure over the forecast years. The Europe region accounted for the biggest stake of the marine hybrid propulsion system market in 2016, in which U.K., Norway, Poland and other noticeable shipbuilding nations subsidized, mostly, the market growth. However, Asia Pacific is expected to develop as one of the noticeable markets for this technology owing to current disposition of advanced marine hybrid propulsion system in the newly built ships.

Marine hybrid propulsion also allows for a highly flexible layout on board, as generators do not need to be positioned near the propeller shafts. This permits the engine room to be positioned anywhere on board, rather than placing it in the center of the hull where the comfort levels are typically greatest. Hybrid systems, therefore, are efficient and provide significant cost savings, while addressing two of the largest comfort issues on board, noise and vibration.

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Marine Hybrid Propulsion System Global Market - Competitive Analysis

The marine hybrid propulsion system industry is anticipated to have enormous amount of progressions for the forecast period, due to incessant progresses in marine industry coupled with increasing vessel proprietor inclinations towards high fuel efficient features. The market is also likely to have huge number growth activities by multinationals and well-established companies.

Top Key Players:

- ABB Ltd.
- MAN Diesel & Turbo SE
- Schottel GmbH
- Rolls-Royce plc
- General Electric Company
- Siemens AG
- Caterpillar Inc.
- BAE Systems
- Wartsila Corporation
- Mitsubishi Heavy Industries, Ltd.
- Torqeedo GmbH
- Steyr Motors GmbH

Marine Hybrid Propulsion System Global Market – Segmentation

The scope of global Marine Hybrid Propulsion System market is segmented into four major segments which are explained below:

By Type
- Diesel-Electric
- Gas-Electric
- Others

By Deadweight
- Less Than 5K DWT
- 5K-10K DWT
- More Than 10K DWT

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By Ship Type
- Anchor Handling Tug Supply (AHTS) vessels
- Platform Supply Vessel (PSV)
- Yachts
- Motor Ferry
- Cruise Liner
- Small Cargo Ships
- Naval Ships
- Submarines

By Application
- Commercial
- Logistics
- Offshore Drilling
- Naval
- Others

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Global Marine Hybrid Propulsion System Market Analysis:

The global marine hybrid propulsion system market is expected to witness phenomenal growth during the forecast period. This is due to the considerable growth in the utilization of hybrid marine propulsion system in the newly built ships along with the rise in global marine activity. The growth is primarily attributed to the stringent regulations for emissions at sea level, has boosted marine hybrid propulsion system market in various countries, which is likely to continue during the forecast years. The Europe region accounted for the largest share of the marine hybrid propulsion system market in 2016, wherein U.K., Norway, Poland and other prominent shipbuilding countries contributed, largely, the market growth. However, Asia Pacific is likely to emerge as one of the prominent markets for this technology due to current deployment of advanced marine hybrid propulsion system in the newly built ships.