Boston, MA -- (SBWIRE) -- 07/28/2017 -- A diesel-electric propulsion system with the provision for additional storage of electrical devices and enhanced controls is known as a hybrid electric propulsion system. The key components of a hybrid electric system include: Electric motor, Generator, Electrical storage devices, Charging system for these electrical devices, and Control system. Other components include an engine that is either fueled by diesel or gasoline. At present, a more environment-friendly and cleaner fuel, liquefied natural gas (LNG), is being increasingly used by commercial vessels.

Technavio's analysts forecast the global hybrid electric marine propulsion engine market to grow at a CAGR of 7.25% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global hybrid electric marine propulsion engine market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

Get More Details on this Report and a Full Table of Contents at Global Hybrid Electric Marine Propulsion Engine Market 2017-2021

The market is divided into the following segments based on geography:

-Americas
-APAC
-EMEA

Technavio's report, Global Hybrid Electric Marine Propulsion Engine Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

-Caterpillar
-MAN Diesel & Turbo
-Mitsubishi Heavy Industries
-Rolls-Royce
-Wartsila

Other prominent vendors

-Cummins
-Hybrid Marine
-STEYR MOTORS
-Elco Motor Yachts
-Oceanvolt
-Beta Marine
-Leonardo DRS
-GE

Market driver

-Surge in commercial shipping
-For a full, detailed list, view our report

Market challenge

-Collapsing Greek shipbuilding industry
-For a full, detailed list, view our report

Market trend

-Emergence of dual-fuel engines
-For a full, detailed list, view our report

Key questions answered in this report

-What will the market size be in 2021 and what will the growth rate be?
-What are the key market trends?
-What is driving this market?
-What are the challenges to market growth?
-Who are the key vendors in this market space?
-What are the market opportunities and threats faced by the key vendors?
-What are the strengths and weaknesses of the key vendors?

You can request one free hour of our analyst's time when you purchase this market report. Details are provided within the report.

Companies Mentioned in this Report: Caterpillar, MAN Diesel & Turbo, Mitsubishi Heavy Industries, Rolls-Royce, Wartsila

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