DUBLIN, July 18, 2017 /PRNewswire/ --
The "Global Hybrid Electric Marine Propulsion Engine Market 2017-2021" report has been added to Research and Markets' offering.
The global hybrid electric marine propulsion engine market to grow at a CAGR of 7.25% during the period 2017-2021.
The report, Global Hybrid Electric Marine Propulsion Engine Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
One trend in the market is emergence of dual-fuel engines. Dual-fuel engines use both liquid and gaseous fuels for operations. These dual-fuel engines mix intake air with natural gas, which is ignited by the diesel. The natural gas gradually replaces the diesel with a substitution rate of 50%-70%.
According to the report, one driver in the market is surge in commercial shipping. The growth of commercial shipping worldwide is directly influenced by globalization. As economies worldwide are interlinked, the world trade volume is influenced by the global economic conditions. International trade rises along with the economic expansion, wherein seaborne trade plays a central role. Therefore, economic development and growth have resulted in enormous opportunities for the marine industry, especially due to the global demand and supply of commodities and manufactured goods.
Further, the report states that one challenge in the market is collapsing Greek shipbuilding industry. The Eurozone crisis has had a significant impact on the shipbuilding industry in Greece, which has dominated the global shipping trade from the 1960s. The EU's stimulus package and the International Monetary Fund bailout have given a new lease of life to the nation, which suffered from the debilitating effects of surging borrowing costs and austerity measures attached to previous EU bailouts. However, the effects of the crisis will continue for some more years.
- MAN Diesel & Turbo
- Mitsubishi Heavy Industries
Other prominent vendors
- Hybrid Marine
- STEYR MOTORS
- Elco Motor Yachts
- Beta Marine
- Leonardo DRS
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by end-user
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/6sq4t5/global_hybrid
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SOURCE Research and Markets