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$3.5 Billion Worldwide Marine Hybrid Propulsion Industry to 2027 - Impact Analysis of COVID-19

·4 min read

DUBLIN, Dec. 16, 2020 /PRNewswire/ -- The "Marine Hybrid Propulsion - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

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The publisher brings years of research experience to the 6th edition of this report. The 276-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Global Marine Hybrid Propulsion Market to Reach US$5.5 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for Marine Hybrid Propulsion estimated at US$3.5 Billion in the year 2020, is projected to reach a revised size of US$5.5 Billion by 2027, growing at a CAGR of 6.8% over the analysis period 2020-2027.

Diesel-electric, one of the segments analyzed in the report, is projected to grow at a 7.3% CAGR to reach US$2.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Parallel segment is readjusted to a revised 6.5% CAGR for the next 7-year period. This segment currently accounts for a 28.9% share of the global Marine Hybrid Propulsion market.

The U.S. Accounts for Over 28.9% of Global Market Size in 2020, While China is Forecast to Grow at a 10.6% CAGR for the Period of 2020-2027

The Marine Hybrid Propulsion market in the U.S. is estimated at US$1 Billion in the year 2020. The country currently accounts for a 28.88% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$1.1 Billion in the year 2027 trailing a CAGR of 10.6% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 6.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR while Rest of European market (as defined in the study) will reach US$1.1 Billion by the year 2027.

Serial Segment Corners a 22.9% Share in 2020

In the global Serial segment, USA, Canada, Japan, China and Europe will drive the 5.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$603.5 Million in the year 2020 will reach a projected size of US$887.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$772.6 Million by the year 2027, while Latin America will expand at a 7.4% CAGR through the analysis period.

Competitors identified in this market include, among others:

  • BAE Systems PLC

  • Caterpillar, Inc.

  • General Electric Company

  • Hyundai Heavy Industries Co., Ltd.

  • MAN Diesel & Turbo SE

  • Mitsubishi Heavy Industries Ltd.

  • Niigata Power Systems Co., Ltd.

  • Rolls-Royce Holdings PLC

  • Siemens AG

  • YANMAR Co., Ltd.

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of COVID-19 and a Looming Global Recession

  • Global Competitor Market Shares

  • Marine Hybrid Propulsion Competitor Market Share Scenario Worldwide (in %): 2018E

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 62

For more information about this report visit https://www.researchandmarkets.com/r/kfwo5q

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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Research and Markets
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View original content:http://www.prnewswire.com/news-releases/3-5-billion-worldwide-marine-hybrid-propulsion-industry-to-2027---impact-analysis-of-covid-19--301194161.html

SOURCE Research and Markets