Marine Hybrid Propulsion Market Share and Business Insights

Aashi Kohli

Marine Hybrid Propulsion Market Share and Business Insights

The global marine hybrid propulsion market is anticipated to gain momentum in the coming years on account of the advent of a technologically advanced fuel-driven system for generating thrust to move naval vessels into the water. Shipyard management and vessel owners are continuously investing in marine hybrid systems to improve the operational performance of naval vessels. The hybrid system is minimizing the power consumption of marine engines. The fuel-driven marine engines are able to handle a static load of around 65-80% of the overall capacity of a naval vessel.

The reduction in the operational performance of the diesel-based marine engine is due to the interruption of wind and tidal sea waves. Moreover, introducing a battery-powered storage system act as a backup unit of the propulsion system. This battery-powered storage system is used to emulate the external load of the marine engines and help to reduce fuel consumption.

Major Industry Developments of the Market for Marine Hybrid Propulsion include:

March 2019 – CWIND and ØRSTED entered into a joint venture for delivering propulsion systems for the Surface Effect Ship.

Some of the Key Players of the Marine Hybrid Propulsion Market include:

Mitsubishi Heavy Industries, Ltd. (Japan)
Caterpillar Inc. (The U.S.)
Wartsila Corporation (Finland)
Rolls-Royce plc (The U.K.)
Torqeedo GmbH (Germany)
Schottel GmbH (Germany)
BAE Systems (The U.K.)
General Electric Company (The U.K.)
Siemens AG (Germany)
ABB Ltd. (Switzerland)
Steyr Motors GmbH (Austria)
MAN Diesel & Turbo SE (Germany)
Others

Aashi Kohli

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