Pune, India -- (SBWIRE) -- 08/22/2018 -- Marine Hybrid Propulsion System Market Worldwide Top Key Players:-

General Electric Company (U.S.), Siemens AG (Germany), Caterpillar Inc. (U.S.), BAE Systems (U.K), Wartsila Corporation (Finland), Mitsubishi Heavy Industries, Ltd. (Japan), Torqeedo GmbH (Germany), Steyr Motors GmbH (Austria), ABB Ltd. (Switzerland), MAN Diesel & Turbo SE (Germany), Schottel GmbH (Germany) and Rolls-Royce plc (U.K.). and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Marine Hybrid Propulsion System market.

Marine Hybrid Propulsion System Market Demand:-

The hybrid drive technology is not only thought-provoking for drive arrangements for electric vehicles, but also for maritime sector. In this marine sector there is wide possibility to substitute the established diesel mechanical drives with novel drive conceptions. This is highly activated by the upsurge in the price of fossil fuels and strict emission standards at the ocean level. A hybrid drive conception proposes the likelihood by regulating control and swiftness to attain less specific fuel intake. This is anticipated to have a big impact, especially on the fractional load range.

The marine hybrid propulsion system industry is expected to have huge number of advancements over the forecast period, owing to continuous developments in marine industry coupled with growing ship owner preferences for high fuel efficient features. The market is also expected to have high expansion activities by multinationals and well-established companies.

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Industry News:-

In March, 2016 – GE's Marine Solutions publicised that it has provided LM2500+G4 gas turbines which will power the Italian Navy's new Pattugliatori Polivalenti d'Altura (PPA) multipurpose offshore patrol ships. The PPA's hybrid electric propulsion system will also use GE's shock-proof MV3000 drives and a GE-designed electrical network of motors as a part of the modern and advanced propulsion system.
In May, 2016 – Caterpillar Marine was pleased to publicise that the engineering specialists at their new Marine Solutions Center were overseeing delivery of the first Cat Marine Hybrid Thruster system. The first system was been delivered to an undisclosed ship yard in Singapore and was commissioned in late 2016.

Marine Hybrid Propulsion System Global Market – Segmentation
The scope of global Marine Hybrid Propulsion System market is segmented into four major segments which are explained below:

Marine Hybrid Propulsion System Global Market By Type
- Diesel-Electric
- Gas-Electric
- Others

Global Marine Hybrid Propulsion System Market By Deadweight
- Less Than 5K DWT
- 5K-10K DWT
- More Than 10K DWT

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Global Marine Hybrid Propulsion System Market By Ship Type
- Anchor Handling Tug Supply (AHTS) vessels
- Platform Supply Vessel (PSV)
- Yachts
- Motor Ferry
- Cruise Liner
- Small Cargo Ships
- Naval Ships
- Submarines

Marine Hybrid Propulsion System Global Market By Application
- Commercial
- Logistics
- Offshore Drilling
- Naval
- Others

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Market Research Analysis:-

The global marine hybrid propulsion system market is expected to witness phenomenal growth during the forecast period. This is due to the considerable growth in the utilization of hybrid marine propulsion system in the newly built ships along with the rise in global marine activity. The growth is primarily attributed to the stringent regulations for emissions at sea level, has boosted marine hybrid propulsion system market in various countries, which is likely to continue during the forecast years. The Europe region accounted for the largest share of the marine hybrid propulsion system market in 2016, wherein U.K., Norway, Poland and other prominent shipbuilding countries contributed, largely, the market growth. However, Asia Pacific is likely to emerge as one of the prominent markets for this technology due to current deployment of advanced marine hybrid propulsion system in the newly built ships.