Global Serial Hybrid Marine Propulsion System Market Growth 2023-2029

Global Serial Hybrid Marine Propulsion System Market Growth 2023-2029

The global Serial Hybrid Marine Propulsion System market size is projected to grow from US$ 490.1 million in 2022 to US$ 534.4 million in 2029; it is expected to grow at a CAGR of 1.2% from 2023 to 2029.

United States market for Serial 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 Serial 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 Serial 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 Serial 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.

Parallel hybrid marine propulsion systems can use both the electric motor and the combustion engine, simultaneously or separately, for their propulsion. Both the combustion engine and the electric motor are directly connected – via a gear with a PTI (Power Take In) for an electric motor – to the drive shaft for the propeller. This gear allows power transferral between two sources. Accordingly, the electric motor, the combustion engine, or both in parallel, can power the propeller. During normal operation, the parallel hybrid marine propulsion system will typically run on both the electric motor and the combustion engine throughout the driving cycle. This in order to achieve maximum efficiency and performance. The combustion engine will run during high speed transportation. Similarly, the electric motor is ideal to use at low speeds, but can also provide extra power when required. The combustion engine’s operation varies, as it is more affected by the driving cycle (or driving pattern) compared to that of the fixed rpm of the engine in a serial hybrid marine propulsion system. This often means more emissions, by comparison. That said, the batteries do not need to be as large as in a serial hybrid marine propulsion system, thereby reducing the weight of the vessel. This may also have a positive effect on its fuel consumption. Parallel hybrid marine propulsion systems are used in a variety of vessels – from leisure boats to tugboats, wind farm boats and high-speed passenger ferries.

LPI (LP Information)' newest research report, the “Serial Hybrid Marine Propulsion System Industry Forecast” looks at past sales and reviews total world Serial Hybrid Marine Propulsion System sales in 2022, providing a comprehensive analysis by region and market sector of projected Serial Hybrid Marine Propulsion System sales for 2023 through 2029. With Serial 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 Serial Hybrid Marine Propulsion System industry.

This Insight Report provides a comprehensive analysis of the global Serial 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 Serial 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 Serial Hybrid Marine Propulsion System market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Serial 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 Serial Hybrid Marine Propulsion System.

This report presents a comprehensive overview, market shares, and growth opportunities of Serial 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
Leisure Boats
Tugboats
Wind Farm Boats
High-Speed Passenger Ferries
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
STEYR MOTORS
CSIC

Key Questions Addressed in this Report

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

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

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

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

How does Serial 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.