Marine Propulsion Market- High Injection of Investments in Hybrid Technologies to Expedite Growth

Uncompromising Norms Pertaining to Carbon Emissions & Oil Spillage to Push Growth


Albany, NY -- (SBWIRE) -- 08/10/2018 -- Marine propulsion refers to a mechanism employed to generate thrust for setting a ship or a boat into motion across water. The framework of the setup of a propulsion system is solely dependent on size of the vessel, transport system, and operation type. Coastal waterways hold a significant share of the global marine propulsion market. Several other insights have been extracted from a research report titled "Marine Propulsion Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026" that has been added to the research report library of Market Research Report Search Engine (MRRSE).

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Owing to the year-on-year rise in cross-border trading exercises, marine ecosystems have evolved as a viable route. The call for marine propulsion systems in inland and coastal/cross-border waterways has escalated significantly. Growing number of trade activities via marine routes coupled with rise in demand for fuel-efficient systems are projected to propel demand for marine propulsion systems in the foreseeable future. Influx of substantial investment in development of existing shipping facilities globally is also pushing the market for marine propulsion. Increasing number of cross-border trade activities through marine sub-waters is poised to accentuate the demand for marine propulsion systems.

Marine Propulsion Market- Uncompromising Norms Pertaining to Carbon Emissions & Oil Spillage to Push Growth

Execution of strict regulations around the Emission Control Areas (ECA) worldwide has triggered the injection of multiple investments in marine hybrid propulsion systems. Stringent norms tied to carbon emissions and oil spillage have spurred investments in enhancement of fuel-efficient marine propulsion systems. Better fuel-efficient marine propulsion components such as generator & motors are being fabricated by companies operating in the respective market.

Different renewable energy forms, like solar energy, are being widely used by ship operators for use in hybrid propulsion systems. Stored solar energy is utilized during the peak hours or at night in the marine propulsion systems. This, in turn, helps in eliminating the compulsory need for using conventional marine fuel. So, it is envisaged that use of hybrid propulsion units is estimated to mount in the foreseeable future. Over and above that, governments of various countries are aggressively funding & supporting enhancement & adoption of latest technological breakthroughs in marine propulsion system, which helps in further diversification of the market.

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Marine Propulsion Market- Report Structure

The global outlook of marine propulsion market has been included in the report in terms of revenue, from both current and future perspective. The market numbers have been calculated & estimated on the basis of propulsion type, transport, power rating, and RPM of the marine propulsion market. The report also comprises a competitive dashboard with profiles of major companies operating in the global marine propulsion market. Prominent companies operating in the marine propulsion market include Cummins Inc., Caterpillar Inc., AB Volvo Penta, BAE Systems, Wärtsilä Corporation, Rolls Royce Plc., Niigata Power Systems Co., Ltd., Fairbanks Morse Engine, Masson-Marine S.A.S., GE, STEYR MOTORS GmbH, MAN Diesel & Turbo SE, and Torqeedo GmbH. The market players listed have been profiled based on multiple attributes such as company & financial overview, business acumen, and latest technological developments.

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