Global Parallel Hybrid Marine Propulsion System Market Growth 2023-2029

Global Parallel Hybrid Marine Propulsion System Market Growth 2023-2029

The global Parallel Hybrid Marine Propulsion System market size is projected to grow from US$ 499.9 million in 2022 to US$ 541.2 million in 2029; it is expected to grow at a CAGR of 1.1% from 2023 to 2029.

United States market for Parallel Hybrid Marine Propulsion System is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

China market for Parallel Hybrid Marine Propulsion System is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

Europe market for Parallel Hybrid Marine Propulsion System is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

Global key Parallel Hybrid Marine Propulsion System players cover Wärtsilä, MAN Energy Solutions, Mitsubishi Heavy Industries, Caterpillar, Daihatsu, Cummins, GE, Yanmar and Volvo Penta, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2022.

Serial hybrid marine propulsion systems use electric motors, one or more, for their propulsion. The combustion engine and propeller shaft are not mechanically connected, which means that the electric motor drives the propeller. The main purpose of the combustion engine is to generate electricity for the electric motor, and for charging the battery bank. Large batteries can allow for long periods of fully electric propulsion. The engine can operate at a steady rpm with high efficiency, which is optimal from a usage standpoint. This also allows operators to lower their emission levels – possibly to a minimum, depending on the battery capacity. Serial hybrid marine propulsion is ideal for, for example, short-distance public transportation vessels, such as city ferries. Their batteries need to have a high power density and large capacity, in order to keep up with demand. Most hybrid ferries have batteries that can be charged both via the engine and an on-shore charging station. From an environmental and emissions perspective, It would say that onshore charging is essential in this context.

LPI (LP Information)' newest research report, the “Parallel Hybrid Marine Propulsion System Industry Forecast” looks at past sales and reviews total world Parallel Hybrid Marine Propulsion System sales in 2022, providing a comprehensive analysis by region and market sector of projected Parallel Hybrid Marine Propulsion System sales for 2023 through 2029. With Parallel Hybrid Marine Propulsion System sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Parallel Hybrid Marine Propulsion System industry.

This Insight Report provides a comprehensive analysis of the global Parallel Hybrid Marine Propulsion System landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Parallel Hybrid Marine Propulsion System portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Parallel Hybrid Marine Propulsion System market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Parallel Hybrid Marine Propulsion System and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Parallel Hybrid Marine Propulsion System.

This report presents a comprehensive overview, market shares, and growth opportunities of Parallel Hybrid Marine Propulsion System market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Plug-In Hybrid
Conventional Hybrid

Segmentation by application
City Ferry
Leisure Boats
Tugboats
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Wärtsilä
MAN Energy Solutions
Mitsubishi Heavy Industries
Caterpillar
Daihatsu
Cummins
GE
Yanmar
Volvo Penta
SCANIA
Deere＆Company
Doosan
Weichai

Key Questions Addressed in this Report

What is the 10-year outlook for the global Parallel Hybrid Marine Propulsion System market?

What factors are driving Parallel Hybrid Marine Propulsion System market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Parallel Hybrid Marine Propulsion System market opportunities vary by end market size?

How does Parallel Hybrid Marine Propulsion System break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.