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Hybrid Marine Gensets Market Share

Report ID: GMI7343
Published Date: Nov 2023
Report Format: PDF

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Hybrid Marine Gensets Market Share

The top companies place emphasis on marketing strategies, technological advancements, brand establishment, and the attainment of economies of scale to effectively compete in the industry. The key market players include:

Wärtsilä
Caterpillar
Cummins, Inc.
MAN Energy Solutions
MITSUBISHI TURBOCHARGER AND ENGINE
Rolls-Royce
ABB
YANMAR
Volvo Penta
Scania
Nidec Industrial Solutions
Fischer Panda
Northern Lights, Inc.
Anglo Belgian Corporation nv
Société Internationale des Moteurs Baudouin
Zenoro
ZF Friedrichshafen AG
Siemens Energy
BAE Systems
Steyr Motors

MAN Energy Solutions is known for its expertise in providing propulsion and power solutions for the maritime sector, including diesel and dual-fuel engines, as well as hybrid and electric propulsion systems. They have been actively involved in developing and promoting environmentally friendly solutions for the maritime industry, given the increasing focus on reducing emissions and improving the sustainability of shipping operations.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market valuation of hybrid marine gensets was worth USD 142.6 million in 2022 and is estimated to surpass USD 368.8 million by 2032, owing to the increasing concern toward the emissions along with implementation of stringent government regulations.

The offshore application is set to reach USD 10 million by 2032, favored by the growing deep-water exploration activities along with the rising demand for drilling platforms, anchor handling, and platform supply vessels.

The hybrid marine gensets market revenue in Europe was exceeded USD 13 million in 2022 and will show impressive growth trends through 2032, owing to the increasing demand for comfort & luxury, reliable gensets, expansion of the seaborne transport industry, and economic stability.

Wärtsilä, Caterpillar, Cummins, Inc., MAN Energy Solutions, MITSUBISHI TURBOCHARGER AND ENGINE, Rolls-Royce, ABB, YANMAR, and Volvo Penta among others.