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Global Renewable Propulsion for Marine Vessels Market 2017-2021

Global Renewable Propulsion for Marine Vessels Market 2017-2021

About Renewable Propulsion

The renewable energy systems market consists power-generating sources that use renewable energy such as wind, water, sunlight, gas, and steam. Companies are trying to adhere to the stringent government policies on emission control by using renewable energy in propulsion systems for marine vessels. With the transportation industry striving to achieve fuel economy, along with low emissions, the shipping industry is also directing its efforts toward adopting renewable fuels for propulsion. It is further driven by the fact that the industry is a significant contributor to carbon emissions globally. Theoretically, emission from 160 large container ships is equivalent to that of the emissions from the global car fleet. Therefore, keeping the global warming concerns in view, the shipping industry is gradually moving toward renewable propulsion systems.

Technavio’s analysts forecast the global renewable propulsion for marine vessels market to grow at a CAGR of 4.57% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global renewable propulsion for marine vessels market for 2017-2021. To calculate the market size, the report considers the renewable and associated sources (such as hybrid systems involving renewables) in this report. We have also considered supporting technologies, such as real-time cloud-enabled software suites, which maximize the use of renewables.

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

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Renewable Propulsion Market for Marine Vessels 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
  • Deltamarin
  • Eco Marine Power (EMP)
  • Eniram (Wärtsilä)
  • Norsepower
  • Smart Green Shipping Alliance (SGSA)
Other prominent vendors
  • ABB
  • Alewijnse Marine Systems
  • Echandia Marine
  • Leclanché
  • A.P. Moller–Maersk Group
  • NYK Group
  • STX France
Market driver
  • Transition toward clean energy-driven shipping sector
  • For a full, detailed list, view our report
Market challenge
  • Technical glitches in design and implementation
  • For a full, detailed list, view our report
Market trend
  • Adoption of waste heat recovery solutions
  • 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?


Press Release

Technavio Announces the Publication of its Research Report – Global Renewable Propulsion Market for Marine Vessels 2017-2021

Technavio recognizes the following companies as the key players in the global renewable propulsion for marine vessels market: Deltamarin, Eco Marine Power (EMP), Eniram (Wärtsilä), Norsepower, and Smart Green Shipping Alliance (SGSA).

Other Prominent Vendors in the market are: ABB, Alewijnse Marine Systems, Echandia Marine, Leclanché, A.P. Moller–Maersk Group, NYK Group, and STX France.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Adoption of waste heat recovery solutions. Large vessels are usually equipped with internal combustion engines of around 10 MW rating. These release 50% of the energy content of the fuel (usually gasoline or diesel or other marine fuels) converting into heat, which needs to be dissipated. Usually, it is cooled down with the help of a heat exchange phenomena using the surrounding water bodies. The resultant energy may be used to form fresh water from the condensation of steam or used to preheat combustion oils if they have high viscosity. During winter, the heat can be directed to dwelling units into the internal rooms of the ship. However, most of the heat that is produced during combustion is sent out through the chimney or cooled with a low-temperature system installed.”

According to the report, one of the major drivers for this market is Transition toward clean energy-driven shipping sector. With the growing global warming and after the Paris Agreement, the marine industry players have increased their contribution toward innovations that adhere to the regional and international regulations on shipping energy and efficiency. Generally, the shipping fuel accounts for 25%-40% of the total operational costs, and thus, a shift toward green technology will help achieve regulatory and economic incentives and improve energy efficiencies.

Further, the report states that one of the major factors hindering the growth of this market is Technical glitches in design and implementation. Several technical issues are associated with the proper designing and engineering of all renewable propulsion systems. These include problems in combustion systems, generator, battery, and electric motor with respect to limitations in parameters such as battery life, charge rate, size, and weight. By comparing the specific power, drivability, emissions, infrastructure support, cost, and energy efficiency of the renewable propulsion systems with the conventional propulsion systems, it can be concluded that the energy required by the marine vessel is very high, and it is difficult to drive an entire ship only on renewable propulsion systems.

Companies Mentioned

Deltamarin, Eco Marine Power (EMP), Eniram (Wärtsilä), Norsepower, mart Green Shipping Alliance (SGSA), ABB, Alewijnse Marine Systems, Echandia Marine, Leclanché, A.P. Moller–Maersk Group, NYK Group, and STX France.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
      • Table Various propulsion systems used in marine vessels
  • Market landscape
    • Market overview
      • Table Global renewable propulsion system for marine vessels market overview
    • Market size and forecast
      • Table Global renewable propulsion for marine vessels market 2016- 2021 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by technology
    • Table Global renewable propulsion for marine vessels market segmentation by technology2016 and 2021 (%)
    • Table Global renewable propulsion for marine vessels market segmentation by technology2016-2021 ($ billions)
    • Global steam and gas turbine propulsion for marine vessels market
      • Table Global steam and gas turbine propulsion systems for marine vessels market 2016-2021 ($ billions)
    • Global natural gas marine propulsion systems for marine vessels market
      • Table Global natural gas propulsion for marine vessels market 2016- 2021 ($ billions)
    • Global wind and solar energy propulsion systems for marine vessels market
      • Table Global wind and solar energy propulsion systems for marine vessels market 2016-2021 ($ billions)
  • Geographical segmentation
    • Table Global renewable propulsion for marine vessels market segmentation by geography2016 and 2021 (%)
    • Table Global renewable propulsion for marine vessels market share by geography 2016-2021 ($ billions)
    • Renewable propulsion systems for marine vessels market in Americas
      • Table Renewable propulsion for marine vessels market in Americas 2016-2021 ($ billions)
    • Renewable propulsion systems for marine vessels market in EMEA
      • Table Renewable propulsion for marine vessels market in EMEA 2016- 2021 ($ billions)
    • Renewable propulsion systems in APAC
      • Table Renewable propulsion for marine vessels market in APAC 2016- 2021 ($ billions)
  • Decisio n framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
  • Market trends
    • Adoption of waste heat recovery solutions
    • Installation of wind turbines on board vessels
    • LNG replacing conventional marine fuel
    • Evolution of hydrogen-powered propulsion systems
  • Vendor landscape
    • Competitive scenario
    • Deltamarin
      • Table Features of Ro-pax vessel propulsion system
    • Eco Marine Power (EMP)
      • Table Specifications of Aquarius MRE
    • Eniram (Wärtsilä)
      • Table Features of Eniram software
    • Norsepower
      • Table Specifications of rotor sail solution
    • Smart Green Shipping Alliance (SGSA)
      • Table Specifications of an automated sail system
    • Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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