Battery Pack for Marine Hybrid & Full Electric Propulsion Market 2030

1. 1/13/23, 6:43 PM Battery Pack for Marine Hybrid & Full Electric Propulsion Market 2030 Search report Keywords Home / Energy and Natural Resources / Battery Pack for Marine Hybrid & Full Electric Propulsion Market Battery Pack for Marine Hybrid & Full Electric Propulsion Market Rep Id : TMRGL76884 Battery Pack for Marine Hybrid & Full Electric Propulsion Market (Power Rating: Up to 1 MW, 1.1 April 2020 MW – 2 MW, 2.1 MW – 3.5 MW, and Above 3.5 MW; Propulsion Type: Hybrid Propulsion and Full Energy and Natural Resources Electric Propulsion; Vessel Type: Tugboats & OSVs, Ferries, Defense Vessels, Yachts, Cruise Ships, 320 Pages and Others; and RPM: 0 RPM – 1,000 RPM, 1,001 RPM –2,500 RPM, and Above 2,500 RPM) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030 Download FREE Sample Report Preview Table of Content Transparency Plus Hybrid Electric Battery Systems Acquire Prominence in Vessels for Short Sea Sector Select License Type There is a growing demand for bigger batteries that are capable of powering diesel electric Single User license $5795 hybrid vessels. This is evident since the revenue of hybrid propulsion vessels is greater than full Multi-User license $8795 electric propulsion vessels in the battery pack for marine hybrid & full electric propulsion market. Vessel owners in the market for battery pack for marine hybrid & full electric propulsion Corporate license $11795 are increasing efforts to maximize electricity use, and this trend is fueling the demand for high- Buy Now capacity batteries that meet specific project requirements. Thus, companies in the market for battery pack for marine hybrid & full electric propulsion are increasing their production Safe and Secure SSL Encrypted capabilities to manufacture above 3.5 megawatt (MW) batteries that are gaining prominence in Get A Special pricing for start-ups and universities. plug-in hybrid ferries. Companies in the battery pack for marine hybrid & full electric propulsion market are increasing Request Discount the availability of hybrid electric drivetrain systems for ferries in the short sea sector. For instance, Danfoss Editron— a supplier of sophisticated electric drivetrain solutions provided a hybrid electric drivetrain system for a new ferry in north-west Denmark.  - Need More Info? - Enquiry Before Buying Request Methodology Ask References Free Customization - Want to customize this report? - We employ Market Analysis, Benchmarking, Corporate Intelligence, and Technological Intelligence to understand specific requirements and customize report with a quick turnaround time in a dynamic business environment. We offer 100% Free Customization at the time of purchase Connect To Analyst - Trusted Partners - Request a sample to get extensive insights into the Battery Pack for Marine Hybrid & Full Electric Propulsion Market  https://www.transparencymarketresearch.com/battery-pack-market-for-hybrid-and-full-electric-marine-propulsion.html 1/6

2. 1/13/23, 6:43 PM Battery Pack for Marine Hybrid & Full Electric Propulsion Market 2030 Dual-fuel PSVs Increase Fuel Efficiency and Reduce NOx Emissions Quick Contact 866-552-3453 The number of battery-hybrid OSVs (Offshore Service Vessels) is growing in the battery pack for marine hybrid & full electric propulsion market. OSV owners are increasing focus to retrofit +1-518-618-1030 diesel-electric and LNG (Liquefied Natural Gas)-powered fleets with battery-hybrid propulsion in Contact by email order to increase fuel efficiency and reduce nitrogen oxide (NOx) emissions in the environment. For instance, Eidesvik Offshore— a Norway-based shipping company is increasing focus in dual- Why trust Us? 5 Million+ Market Data fuel, diesel-electric-powered platform supply vessels (PSV) in order to comply with environment regulations. - Related Reports - An increase in the number of dual-fuel engine vessels with an output of up to 2,010 kW at 720 rpm are revolutionizing the battery pack for marine hybrid & full electric propulsion market. As Multi Energy Systems Market such, the market for battery pack for marine hybrid & full electric propulsion is estimated to Medium and Low Voltage DC System Market reach a value of ~US$ 600 Mn by the end of 2030. Photovoltaics Market Biomass Boiler Market Microturbines Market To understand how our report can bring difference to your business strategy, Ask for a brochure COVID-19 Crisis Drives Need for Dynamic Planning and Re-activation of Fleets The issue of vessel lay-ups is becoming widespread in the market for battery pack for marine hybrid & full electric propulsion due to the coronavirus (COVID-19) pandemic. Thus, vessel owners need to adapt, react, and plan, owing to uncertainty in charter and cargo. Vessel owners in the battery pack for marine hybrid & full electric propulsion market are planning for re- activation of fleets and are adopting dynamic measures to quickly respond to changing situations. The trend of webinars is growing in the market for battery pack for marine hybrid & full electric propulsion amidst the COVID-19 crisis. For instance, Riviera Maritime Media— a specialist publisher and event organizer within the maritime and offshore industries has an ongoing multi- week series of webinars that shares information on vessel operations amidst the COVID-19 outbreak. Negative ramifications of COVID-19 have led to zero revenue environments for the cruise ship industry in the battery pack for marine hybrid & full electric propulsion market. LNG Vessel Owners Use Batteries and Fuel Cells for Efficient Load Management DC (Direct Current)-based power systems are enabling simple and flexible integration of energy sources such as batteries, variable-speed gensets, and fuel cells in vessels. DC systems are being highly publicized as a cost-efficient and functional method for integration of energy storage for ferries in the battery pack for marine hybrid & full electric propulsion market. Electric propulsion is a mature technology in the short sea sector. However, the adoption of electric propulsion in deep sea shipping is a challenge, due to increased NOx emissions. Hence, companies in the battery pack for marine hybrid & full electric propulsion market are promoting https://www.transparencymarketresearch.com/battery-pack-market-for-hybrid-and-full-electric-marine-propulsion.html 2/6

3. 1/13/23, 6:43 PM Battery Pack for Marine Hybrid & Full Electric Propulsion Market 2030 the adoption of LNG vessels in order to meet emission mandates. LNG vessel owners in the market for battery pack for marine hybrid & full electric propulsion are gravitating toward batteries and fuel cells for efficient load management. Stuck in a neck-to-neck competition with other brands? Request a custom report on Battery Pack for Marine Hybrid & Full Electric Propulsion Market Analysts’ Viewpoint Considering the unknown timescales involved with COVID-19, vessel owners in the battery pack for marine hybrid & full electric propulsion market need to prepare for re-adjustments associated with the arrangement of only few passengers on board. On the other hand, there is a growing demand for rapid-charging facilities that power high-capacity batteries. Electric propulsion is gaining popularity as a cost efficient and functional method for the integration of energy storage in vessels. However, it is challenging for deep sea vessels such as cruise ships to comply with emission mandates with electric propulsion. Hence, companies should promote the adoption of LNG vessels to meet emission mandates. Battery Pack for Marine Hybrid & Full Electric Propulsion Market: Overview In the marine industry, batteries are used for various purposes such as starting, storage of power, providing backup power to safety equipment, and in propulsion systems. With the growing number of environmental regulations regarding NOx, SOx, and CO2 emissions, shipping companies are shifting toward battery-operated propulsion systems. Rising demand for marine transportation is driving the demand for more reliable and efficient power backup batteries for safe and trouble-free operations Rise in water sports activities and marine tourism is likely to drive the global battery pack for marine hybrid & full electric propulsion market in the near future Stringent Government Regulations to Reduce Emissions to Drive Battery Pack for Marine Hybrid & Full Electric Propulsion Market Ships run on bunker fuel, which is the most pollution-causing fuel. Furthermore, greenhouse gases is becoming a major concern across the globe. Every year, air pollutants, such as carbon monoxide, nitrogen oxides, sulfur oxides, and particulate matter, are released in large amounts. In order to reduce pollution, governments of countries across the world are implementing rules and regulations. For instance: In 2017, the U.S. Government and the Government of Canada have passed bills to formulate the fuel-sulfur limits and NOx emissions in emission control areas in North America. These areas includes coastal waters of up to 200 nautical miles from coasts of Alaska and Hawaii, the U.S. and Canada. The vessels entering these areas must meet the requirement that fuel- sulfur concentrations should not exceed 0.10 weight%. Engines above 130 kW installed on vessels built since 2000 must be certified to meet appropriate emission standards corresponding to the building date of vessels. As of January 1, 2016, engines installed on new and modified vessels were subject to the Annex VI Tier III NOx standards. Hybrid and full electric vessels can play a major role in reducing pollution, as these vessels run on batteries. Thus, stringent government regulations to reduce emissions are expected to drive the global battery pack for marine hybrid & full electric propulsion market during the forecast period. https://www.transparencymarketresearch.com/battery-pack-market-for-hybrid-and-full-electric-marine-propulsion.html 3/6

4. 1/13/23, 6:43 PM Battery Pack for Marine Hybrid & Full Electric Propulsion Market 2030 High Initial Investments and Inadequate Infrastructure for Charging to Hamper Global Market The initial cost required to install a battery setup and additional machinery required for a propulsion system is high. The battery system costs seven times more than that of a normal diesel engine. These batteries require additional space, which can increase the dead weight of the ship. This, in turn, affects profitability. Furthermore, in several developing and underdeveloped countries, there exists limited or no charging infrastructure for these batteries. The port authority as well as ship owners require additional investments for these charging stations. Thus, high initial investments and inadequate infrastructure for charging are projected to be major restraints of the global battery pack for marine hybrid & full electric propulsion market during the forecast period Innovations in Battery Systems to Offer Growth Opportunities Companies are currently focusing on improvement in the battery capacity and reduction in the battery size. This can be beneficial for the marine industry, as the dead weight of batteries would reduce, which would provide additional space for goods. Companies are also focusing on increasing the life span of batteries, which would be also beneficial for the marine industry, as the cost of batteries is high and frequent replacement increases operational costs. Furthermore, companies are currently aiming at the advancement in charging stations, which would provide rapid charging. This can help shipping companies by reducing the downtime required for charging of batteries. Hence, innovations in battery systems is expected to be a lucrative opportunity for the global battery pack for marine hybrid & full electric propulsion market during the forecast period  Battery Pack for Marine Hybrid & Full Electric Propulsion Market: Key Developments On March 12, 2020, Corvus Energy announced to have been selected to supply lithium-ion battery-based energy storage systems for a new, hybrid propulsion-based coastal cargo vessel. Westcon Power & Automation selected Corvus Energy to provide an energy storage system for a vessel. The vessel is being built for Arriva Shipping at Dayang Offshore Equipment in China. In addition to large battery packs and electric propulsion systems, the vessel would also have a fuel-efficient and improved hull design made by Marine Design and Consulting (MDC). Asia Pacific to Dominate Battery Pack for Marine Hybrid & Full Electric Propulsion Market Asia Pacific held a significant share of the global battery Pack for marine hybrid & full electric propulsion in 2019. The region is anticipated to maintain its dominance during the forecast period. This can be ascribed to increase in investments in the adoption of hybrid and full electric propulsion systems for marine vessels in Asia Pacific, especially in China, Japan, and South Korea. China is anticipated to lead the battery pack for marine hybrid & full electric propulsion in the region during the forecast period. Europe holds a considerable share of the global battery pack for marine hybrid & full electric propulsion market. Currently, Europe has the maximum number of full electric vessels among all regions. Norway is likely to lead the battery pack for marine hybrid & full electric propulsion market in Europe during the forecast period. The number of countries accepting the Paris Climate Change Agreement is increasing significantly across the globe. This agreement mandates countries https://www.transparencymarketresearch.com/battery-pack-market-for-hybrid-and-full-electric-marine-propulsion.html 4/6

5. 1/13/23, 6:43 PM Battery Pack for Marine Hybrid & Full Electric Propulsion Market 2030 to decrease their carbon footprint and greenhouse gases in sea and near- harbor areas. This creates growth potential for the global battery pack for marine hybrid & full electric propulsion market. North America is another key region of the global battery pack for marine hybrid & full electric propulsion market, as the first full electric propulsion- based vessels are expected to become operational in the latter half of 2020. In North America, the U.S. is a major market for the battery pack for marine hybrid & full electric propulsion. This can be ascribed to stringent government rules and regulations to reduce the level of carbon emissions and greenhouse gases in port and nearby areas. In 2019,Latin America held a minimal share of the global battery pack for marine hybrid & full electric propulsion market. This can be ascribed to lack of infrastructure and investments in hybrid and full electric marine vessels coupled with lenient government rules and regulations regarding emissions of carbon and greenhouse gases. Middle East & Africa is the leading region in terms of crude oil production, which is a major restraining factor for the battery pack for marine hybrid & full electric propulsion market in the region. Thus, market share of Middle East & Africa in the global battery pack for marine hybrid & full electric propulsion market is expected to be low during the forecast period.  Battery Pack for Marine Hybrid & Full Electric Propulsion Market: Competition Landscape The global battery pack for marine hybrid & full electric propulsion market is highly consolidated, with the presence of a very few number of players operating at regional and international levels Key players operating in the global battery pack for marine hybrid & full electric propulsion market are  Corvus Energy Eco Marine Power Rolls-Royce plc Nidec Group  RELiON Batteries Battery Pack for Marine Hybrid & Full Electric Propulsion Market – Segmentation TMR’s research study assesses the global battery pack for marine hybrid & full electric propulsion market on the basis of power rating, propulsion type, vessel type, RPM, and region. This report presents extensive market dynamics and growth trends associated with different segments and how they are influencing growth prospects for the global battery pack for marine hybrid & full electric propulsion market. Up to 1 MW 1.1 MW – 2 MW 1.1 MW – 2 MW Above 3.5 MW Power Rating Hybrid Propulsion Full Electric Propulsion Propulsion Type https://www.transparencymarketresearch.com/battery-pack-market-for-hybrid-and-full-electric-marine-propulsion.html 5/6

6. 1/13/23, 6:43 PM Battery Pack for Marine Hybrid & Full Electric Propulsion Market 2030 Tugboats & OSVs Ferries Defense Vessels Yachts Cruise Ships Others (Including Oil Tankers and Container Ships) Vessel Type 0 RPM – 1,000 RPM 1,001 RPM – 2,500 RPM Above 2,500 RPM RPM North America Europe Asia Pacific Latin America Middle East & Africa Region Interested in this report? Get a FREE Brochure now! Get Free Brochure *Get Brochure Report (PDF) sent to your email within minutes - Help - - Follow Us - Terms Of UseCustomer FAQHow To OrderPrivacy PolicySitemap U.S Sales Office Corporate Headquarter Reach Us +1-518-618-1030 State Tower, 90 State Street, Suite 700, Albany NY - 12207, United States Downtown, 1000 N. West Street, Suite 1200, Wilmington, Delaware 19801 USA 866-552-3453 (US-Canada Toll Free) sales@transparencymarketresearch.com Trust Online Copyright © Transparency Market Research, Inc. All Rights reserved https://www.transparencymarketresearch.com/battery-pack-market-for-hybrid-and-full-electric-marine-propulsion.html 6/6