Marine hybrid propulsion comes along with benefits such as, silent running at low speeds, which is perfect for overnight travel. Marine hybrid propulsion is also widely used for emission-free running in harbors & marinas. It also subsequently provides speed boost at propulsion full power. Marine hybrid propulsion also allows for a highly flexible layout on board, as generators do not need to be positioned near the propeller shafts. This permits the engine room to be positioned anywhere on board, rather than placing it in the center of the hull where the comfort levels are typically greatest. Hybrid systems, therefore, are efficient and provide significant cost savings, while addressing two of the largest comfort issues on board, noise and vibration.

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Industry Segmentation

Global marine hybrid propulsion system market has been segmented based on type, deadweight, ship type and application and region.

Based on type, the market has been segmented as diesel-electric, gas-electric, and others. Among these the diesel-electric type system, is projected to dominate the marine hybrid propulsion system market through 2023.

Based on the deadweight, the market has been segmented into Less Than 5K DWT, 5K-10K DWT and More Than 10K DWT. 5K-10K DWT dominated the market in 2016 and is projected to be the fastest-growing deadweight segment for a ship.

Based on the ship type, the market has been segmented into Anchor Handling Tug Supply (AHTS) vessel, platform supply vessel (PSV), yachts, motor ferry, cruise liner, small cargo ships, naval ships and submarines. Anchor Handling Tug Supply (AHTS) vessel dominated the market, in 2016, and is projected to be the fastest-growing ship type over the next five years.

Based on the application, the market is segmented as commercial, logistics, offshore drilling, naval and others. Commercial application dominated the market, in 2016, and is projected to be the fastest-growing application over the next five years.

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Regional Outlook

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.

Key Players:

The key players of global marine hybrid propulsion system market are 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.).

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