Diesel Electric Powered Hybrid Marine Gensets Market Size - By Power Rating, By Application (Merchant, Offshore, Cruise & Ferry, Navy), By Regional Outlook & Forecast, 2024 – 2032

Diesel Electric Powered Hybrid Marine Gensets Market Size

Diesel Electric Powered Hybrid Marine Gensets Market was valued at USD 119.5 million in 2023 and is set to grow at a CAGR of over 9.3% from 2024 to 2032. The expanding population index and continuous infrastructure developments in emerging economies are set to boost global demand for seaborne trade, thereby enhancing business prospects worldwide.
 

Diesel-electric powered hybrid marine gensets combine the efficiency and reliability of diesel engines with the versatility and environmental benefits of electric propulsion systems. These systems typically feature diesel engines driving generators to produce electricity, which is then used to power electric motors connected to propellers or thrusters. The hybrid aspect comes into play with the integration of energy storage systems such as batteries, allowing for optimal load management, reduced fuel consumption, and lower emissions.
 

Diesel Electric Powered Hybrid Marine Gensets Market Trends

The marine tourism sector is experiencing substantial expansion owing to higher living standards, increased disposable incomes, more leisure time, and better-informed travelers. The rising popularity of cruises and ferries among tourists will drive demand for recreational vessels, accelerating the business potential. Favorable government policies aimed at developing marine tourism, coupled with strategic marketing and organizational strategies, are set to further boost the marine gensets market.
 

Diesel Electric Powered Hybrid Marine Gensets Market Analysis

 The 1,000 kW - 5,000 kW rated diesel electric powered hybrid marine gensets market will exceed over USD 90 million by 2032. These generators are increasingly used on both commercial and recreational vessels on account of expanding maritime trade, economic growth, improved living standards, and rising energy demand. They are widely applied in yachts, commercial ships, passenger vessels, and cruise ships, driving growth in the industry.
 

The merchant diesel electric powered hybrid marine gensets market size will observe a growth rate of over 9% through 2032. The adoption of electric-diesel units is being pursued to enhance fuel efficiency and decrease emissions, shaping the business outlook. These units facilitate the use of electric propulsion and batteries during low-load operations comprising of maneuvering in ports, which proves more efficient and environmentally friendly compared to idling diesel engines.
 

Asia Pacific diesel electric powered hybrid marine gensets market is set to surpass USD 180 million by 2032, driven by the region's burgeoning maritime industry and increasing focus on sustainable shipping solutions. Hybrid marine gensets, combining diesel engines with electric propulsion systems, are gaining traction owing to their ability to reduce fuel consumption, emissions, and operating costs while enhancing overall efficiency.
 

The U.S. diesel-electric powered hybrid marine gensets market will witness an upsurge on account of  increasing environmental regulations and the growing demand for energy-efficient marine propulsion systems. This industry is further fueled by technological advancements in energy storage systems and the adoption of sustainable practices in the maritime industry. The landscape is being driven by rising demand for comfort and luxury, dependable gensets, growth in the maritime transport sector, and economic stability.
 

Diesel Electric Powered Hybrid Marine Gensets Market Share

Nidec Industrial Solutions is a prominent global provider of advanced electrical and automation solutions, renowned particularly for its marine gensets. With a rich history of engineering excellence dating back decades, the company specializes in designing and manufacturing high-performance gensets tailored for marine applications. Their gensets are known for their robustness, reliability, and efficiency, meeting stringent maritime standards and environmental regulations. Its solutions cater to a wide range of vessels, from commercial ships to luxury yachts, offering bespoke configurations that optimize power generation and minimize operational costs. Leveraging cutting-edge technology and a commitment to innovation, Nidec Industrial Solutions continues to be a trusted partner in the maritime industry, ensuring dependable power solutions that drive operational excellence and sustainability at sea.
 

Diesel Electric Powered Hybrid Marine Gensets Market Companies

The key industry players include:

• ABB
• Anglo Belgian Corporation nv
• Caterpillar
• Cummins, Inc.
• Fischer Panda
• MAN Energy Solutions
• MITSUBISHI TURBOCHARGER AND ENGINE 
• Nidec Industrial Solutions
• Rolls-Royce
• Scania 
• Siemens Energy
• Steyr Motors
• Volvo Penta
• Wärtsilä
• YANMAR
• ZF Friedrichshafen AG
   

Diesel Electric Powered Hybrid Marine Gensets Industry News

• In March 2023, Rolls-Royce Power has secured a contract to supply four naval generator sets for the USS Congress, FFG-63, the second vessel in the U.S. Navy's Constellation Class Guided-Missile Frigate program. These generator sets utilize the MTU 20 V 4000 M53B engine and together provide 12 MW of power, supporting both onboard power needs and propulsion. This initiative underscores a significant commitment to bolstering U.S. manufacturing capabilities, including the creation of approximately 20 new job opportunities. It also plays a vital role in meeting the advanced technological requirements of the naval sector and upcoming projects.
   
• In January 2023, Nidec Industrial Solutions has strengthened its presence in the European maritime sector by securing a contract to implement a shore-to-ship project at the port of Sète in southern France. The company has signed a USD 2.75 million contract with Port Sud de France. This initiative is expected to enhance the quality of life in local communities and bolster tourism, a pivotal sector in the French economy. Moreover, it aligns with upcoming EU directives mandating electrification systems for port quays by 2025.
   

This diesel electric powered hybrid marine gensets market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD Million” from 2021 to 2032, for the following segments:

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Market, By Power Rating

• < 1,000 kW
• 1,000 kW - 5,000 kW
• 5,000 kW - 10,000 kW
• 10,000 kW - 20,000 kW
• > 20,000 kW

Market, By Application

• Merchant
• Offshore
• Cruise & Ferry
• Navy
• Others

The above information has been provided for the following regions and country:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • Italy
  • Norway
  • France
  • Russia
  • Denmark
  • Netherlands
  • Belgium
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Vietnam
  • Singapore
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Iran
  • Angola
  • Egypt
  • South Africa
• Latin America
  • Brazil
  • Argentina
  • Mexico