Global Marine Propulsion System Market 2023-2030

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    GLOBAL MARINE PROPULSION SYSTEM MARKET

     

    INTRODUCTION

     

     A vessel’s propulsion system can be as straightforward as a diesel engine connected directly to the propeller shaft, which turns the propeller, or it can be more complex, with a diesel engine powering both an electrical generator and an electrical motor through a sophisticated control system.

     

    The most popular marine propulsion system for converting thermal energy into mechanical energy is the diesel system. Together with small boats and leisure vessels, practically all types of watercraft use diesel power systems.

     

    GLOBAL MARINE PROPULSION SYSTEM MARKET SIZE AND FORECAST

     

    infographic : Marine Propulsion System Market , Marine Propulsion System Market Size, Marine Propulsion System Market Trend, Marine Propulsion System Market Forecast, Marine Propulsion System Market Risks, Marine Propulsion System Market Report, Marine Propulsion System Market Share

     

    The Global Marine propulsion system Market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.

     

    NEW PRODUCT LAUNCH

     

    Rolls-Royce to launch new hybrid ship propulsion systems.Rolls-Royce has introduced a new line of MTU hybrid propulsion systems for ships, yachts, workboats, ferries and patrol boats.

     

    The propulsion systems will have power outputs ranging from 1,000kW to 4,000kW per powertrain.

     

    Prior to the launch, the company plans to test a new MTU hybrid system in a yacht with Series 2000 engines.

     

    MTU Marine Rolls-Royce,The combination of diesel engines and electric motors, in addition to batteries, will provide customers with significant benefits in a variety of marine applications, the most important of which are efficiency, environmental compatibility, and propulsion system flexibility.

     

    The company provides integrated hybrid propulsion systems tailored to the customer’s specific requirements using a modular system.

     

    The company will provide variable propulsion modes to suit each vessel type.The tugboat hybrid propulsion system will allow for precise manoeuvring with the electric motor and a powerful bollard pull with the diesel engines and electric motors.

     

    The systems will provide silent, vibration-free, and emission-free cruising for yachts or passenger ships.Hybrid propulsion solutions, according to Rolls-Royce, significantly lower operational costs for patrol boats and other applications that demand great speed and power.

     

    Internal combustion engines, electric drive modules, gearbox systems, batteries, monitoring and control systems and other electronic components are all included in the full hybrid MTU propulsion systems for ships.

     

    RECENT DEVELOPMENT

     

    Development of Hybrid Propulsion System for Energy Management and Emission Reduction in Maritime Transport System.

     

    Given the strategic significance of energy and air pollution in today’s world and because the maritime transport system is one of the major sources of energy consumption and emissions in the environment, particularly contamination of water, fuel consumption and emissions reduction in the maritime transport industry has received considerable attention.

     

    The addition of an electric motor and battery to the boat’s power transmission system using the new approach is intended to boost dynamic performance while lowering fuel consumption and pollution.

     

    To do this, the components of the power transmission system are simulated, and the boat’s functionality is assessed in terms of actual movement by developing an energy management strategy across power sources. According to the modelling results, boat hybridization significantly lowers emissions and fuel consumption.

     

    Governments, business, and researchers are attempting to discover a viable replacement for traditional marine transport due to problems including air pollution and growing fossil fuel prices.

     

    One of the major innovations for the maritime industry is anticipated to be the use of hybrid and electric boats and ships.

     

    Research on maritime hybrid vehicle development and manufacturing is thus required. The importance of shipping to the global economy cannot be overstated, particularly in terms of export and import. Unfortunately, it is believed that one of the primary causes of the rise in pollution is industry.

     

    By 2020, ship emissions of sulphur dioxide (SOx) and acid nitrogen (NOx) will be substantially greater than other sources of pollution, according to a research from the European Union.

     

    To safeguard shipping, one of the methods to transport goods and people, these emissions must be reduced. Fortunately, technology exists to reduce these emissions by between 80 and 90 percent in the maritime sector. 

     

    The cheap cost of deploying these technologies in this business compared to on-land industries is another issue that motivates focusing on it to lower pollution levels.

     

    The production of carbon dioxide gas, the primary emission gas, has reached more than 1000 million tonnes alone within the European Union, and if the appropriate steps are not taken, it would more than quadruple in 2050, according to a research published by the Union of Europe in 2014.

     

    For many industries, the America Energy Management Institute has displayed fuel usage and emissions.

     

    As is obvious, the transport sector is responsible for 27% of global fuel consumption and 33.7% of global air pollution.

     

    A boat’s components are propelled by 15% of the total fuel energy, according to official data from the Department of American Energy, while the majority of the energy consumed in the combustion process is lost as heat, contributing to global warming and air pollution.

     

    The internal combustion engine’s energy use.

     

    However, the electric motor’s propulsion takes 75% of its power. Shipyards have taken a significant step in addressing this issue due to the pollution produced by the transportation industry and the limitations of fossil fuels.

     

    Among these are fuel cell technology, gasoline direct injection engines, compression ignition engines with homogeneous mixtures, hybrid vehicles and bi-fuel propulsion engines.

     

    Hybrid transport systems provide a number of essential qualities, including high efficiency, low emissions, long-measurable range, maximum safety, and competitive pricing with traditional propulsion systems.

     

    INNOVATION

     

    Investigation of propulsion systems for large LNG ships.The need to transition away from coal for energy generation has made LNG the most sought-after fuel source, driving rising demand for its supply and manufacture.

     

    The progressive depletion of offshore oil and gas reserves, which is forcing future exploration and production activities into the dangerous deep water, is another factor that has been added to this scenario.

     

    In such a setting, gas production has significant technical and financial effects on the gas industry. It will be difficult technically and financially to build gas pipes from deep sea to distant receiving ports, for example.

     

    Installing a re-liquefaction unit on board FPSOs will be a substitute for establishing gas pipelines in order to transform gas into liquid for maritime transit.

     

    However, if the distance between gas sources and receiving ports grows, the cost of operating the present medium-sized LNG ships will rise. 

     

    Shipowners are making considerable expenditures in the purchase of big LNG tankers in recognition of this financial environment.

     

    Leading engine manufacturers have suggested a number of propulsion derivatives including UST, DFDE, 2-Stroke DRL, and Combined cycle GT since the power requirements of large LNG ships are considerably different from the present tiny ones.

     

    The propulsion system makes up a significant portion of a ship’s capital and life cycle costs, therefore determining which of these solutions is best for big LNG ships is currently a top priority for the shipping industry and requires careful consideration.

     

    The authors of this study compare the respective benefits of different propulsion solutions to benchmark performance standards such as BOG disposal, fuel consumption, petrol emissions, plant availability, and total life cycle cost.

     

     

    COMPANY PROFILE

     

    THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

    1. How many Marine propulsion systems are manufactured per annum globally? Who are the sub-component suppliers in different regions?
    2. Cost breakup of a Global Marine propulsion system and key vendor selection criteria
    3. Where is the Marine propulsion system manufactured? What is the average margin per unit?
    4. Market share of Global Marine propulsion system market manufacturers and their upcoming products
    5. Cost advantage for OEMs who manufacture Global Marine propulsion system in-house
    6. key predictions for next 5 years in Global Marine propulsion system market
    7. Average B-2-B Marine propulsion system market price in all segments
    8. Latest trends in Marine propulsion system market, by every market segment
    9. The market size (both volume and value) of the Marine propulsion system market in 2023-2030 and every year in between?
    10. Production breakup of Marine propulsion system market, by suppliers and their OEM relationship

     

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2023-2030
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2023-2030
    19 Market Segmentation, Dynamics and Forecast by Application, 2023-2030
    20 Market Segmentation, Dynamics and Forecast by End use, 2023-2030
    21 Product installation rate by OEM, 2023
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2023
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix
     
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