Global Marine Hybrid Propulsion Market: Overview
Marine hybrid propulsion systems are gradually emerging as one of the most preferred clean propulsion systems globally and are being used in several vessel categories. One of the major advantages of using hybrid propulsion systems is their clean and efficient mechanism, which significantly lowers emissions as compared to conventional propulsion systems. Features such as silent maneuvering, emission-free operations, and lower degrees of fuel consumption have prompted vessel and towage operators to invest in this technology.
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Development of the technology originating from the hybrid automotive industry has assisted technology developers in designing efficient and economical marine hybrid propulsion systems. Marine hybrid propulsion systems are designed to use two independent drive systems for propulsion: a diesel engine and an electric motor, where electric power is generally stored in batteries or a super capacitor. The system utilizes the unused capacity of the main diesel engine to generate electricity and store it in batteries for later use.
Constituting Largest Share, Diesel-electric Propulsion Segment Emerged Dominant
Based on revenue & volume (US$ Mn & units); the marine hybrid propulsion market has been broadly segmented into: propulsion type, end-use, power rating, stroke, RPM, and region. By propulsion type, marine hybrid propulsion market have been broadly segmented into diesel-electric, parallel, and serial hybrid systems. In 2016, diesel-electric propulsion type constituted 49% market share. In terms of end-use, the market has been segregated into: tugboats, offshore support vessels, ferries, defense vessels, yachts, cruise ships, and others.
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In terms of power rating, the market has been divided into: 0-300 KW, 301-500 KW, 501-800 KW, and above 801 KW. By stroke, the market has been analyzed for two stroke and four stroke marine hybrid engines. Currently, four strokes engines are widely preferred when compared to two stroke marine engines In terms of RPM, the market has been further broken into: 0-1,000 RPM, 1,001-2,500 RPM, and above 2,500 RPM. Above 2500 RPM segment is expected to grow at a higher growth rate when compared to other RPM segments.
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