Hybrid and Full Electric Marine Propulsion Market to Reflect Impressive Growth Rate by 2026 - PowerPoint PPT Presentation

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Hybrid and Full Electric Marine Propulsion Market to Reflect Impressive Growth Rate by 2026

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Title: Hybrid and Full Electric Marine Propulsion Market to Reflect Impressive Growth Rate by 2026


1
Hybrid and Full Electric Marine Propulsion Market
  • Global Industry Analysis, Size, Share, Growth,
    Trends and Forecast, 2026

2
About Us
  • Transparency Market Research (TMR) is a market
    intelligence company, providing North America
    business information reports and services. Our
    exclusive blend of quantitative forecasting and
    trends analysis provides forward-looking insight
    for thousands of decision-makers. We have an
    experienced team of Analysts, Researchers, and
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    analyze information. Our business offerings
    represent the latest and the most reliable informa
    tion indispensable for businesses to sustain a
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  • Each TMR Syndicated Research report covers a
    different sectorsuch as pharmaceuticals,
    chemical, energy, food beverages,
    semiconductors, med-devices, consumer goods, and
    technology. These reports provide in-depth
    analysis and deep segmentation to possible micro
    levels. With a wider scope and stratified
    research methodology, our syndicated reports
    strive to serve clients and satisfy their overall
    research requirement.

3
Hybrid and Full Electric Marine Propulsion
Market
  • Marine propulsion refers to a system or a
    mechanism that is utilized in the generation of
    thrust to propel a boat and ship across water.
  • The arrangement of the entire propulsion system
    relies on the operation type, system of
    transport, and size of vessel. A very common type
    of marine propulsion system is diesel marine
    propulsion system.
  • However, almost all vessel types such as
    recreational vessels, defense vessels, Yachts,
    ferries, and tugboats, utilize hybrid systems to
    move.
  • Diesel-electric marine propulsion systems are
    used in the marine vessels. Such wide use of the
    system is expected to bolster expansion of the
    global hybrid and full electric marine propulsion
    market.

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4
Environment Friendliness of the Product to
Amplify its Demand                                
                                     
  • The International Convention on the Prevention of
    Pollution from Ships (MARPOL) is an international
    regulatory body that is assigned with the task of
    regulating the issue of marine pollution caused
    by vessels. 
  • There are six different annexes in the MARPOL
    and each of those annexes deal with pollutants
    arising out of routine operations and accidents
    in the oceans and seas.
  • Annex VI particularly takes care of the air
    pollutants generated by ocean bound ships. This
    annex restricts the level of nitrogen emission
    level and mandates use of low sulfur-content fuel
    to diminish environmental pollution.

5
Volatility in Costs of Crude Oil and Regulations
in Marine Fuel Emissions Hinders Markets Growth
  • A few major challenges hindering the growth of
    the global hybrid and full electric marine
    propulsion market include the volatile prices of
    crude oil and governments strict rules against
    marine fuel emissions.
  • Nonetheless, the sluggish growth rate of the
    market is compensated by persistent demand for
    low-priced LNG and natural gas for making the
    propulsion in hybrid vessels.
  • Such factors are believed to help overcome this
    challenge in the near future.

6
Key players operating in the Full Electric Marine
Propulsion Market
  • ummins Inc.
  • Caterpillar Inc.
  • AB Volvo Penta
  • BAE Systems
  • Wärtsilä Corporation
  • Rolls Royce Plc.

7
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