Full Electric Marine Propulsion Market – Snapshot
Marine propulsion refers to a system or a mechanism that is utilized in the generation of thrust to propel a boat and ship across water. The arrangement of the entire propulsion system relies on the operation type, system of transport, and size of vessel. A very common type of marine propulsion system is diesel marine propulsion system. However, almost all vessel types such as recreational vessels, defense vessels, Yachts, ferries, and tugboats, utilize hybrid systems to move. Diesel-electric marine propulsion systems are used in the marine vessels. Such wide use of the system is expected to bolster expansion of the global hybrid and full electric marine propulsion market.
In a full electric marine propulsion system, the generator is directly linked with the engine in the full electric marine propulsion system. This type of marine propulsion systems is capable of enhancing the efficiency of the vessel. In addition, it is environment friendly as it reduces the overall carbon footprint in the environment. The environment friendly factor of the system is likely to amplify the overall growth of the global hybrid and full electric marine propulsion market.
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Environment Friendliness of the Product to Amplify its Demand
The International Convention on the Prevention of Pollution from Ships (MARPOL) is an international regulatory body that is assigned with the task of regulating the issue of marine pollution caused by vessels. There are six different annexes in the MARPOL and each of those annexes deal with pollutants arising out of routine operations and accidents in the oceans and seas. Annex VI particularly takes care of the air pollutants generated by ocean bound ships. This annex restricts the level of nitrogen emission level and mandates use of low sulfur-content fuel to diminish environmental pollution.
In the hybrid electric marine propulsion engines, dual fuel engines have come up as an emerging trend. These engines operate with both gaseous and liquid fuels. In comparison with diesel engines, dual fuel engines have been extremely useful in reducing carbon emissions. These engines also make an offering of the following
- high energy-efficiency
- excellent reliability in the long run
- power characteristics
Furthermore, technological and commercial progress made in the marine propulsion industry is further estimated to fuel the market.
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Hybrid and Full Electric Marine Propulsion Market – Snapshot
Marine propulsion is a mechanism or system used to generate thrust to move a ship or boat across water. Battery packs are used for propulsion/voyage in hybrid and full electric marine propulsion systems. In hybrid marine vessels, battery as well as alternate fuel such as diesel and LNG are utilized during propulsion of the vessel. In full electric marine vessels, 100% propulsion is made through the usage of rechargeable battery packs.
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Rise in Investments in Fuel-efficient Marine Propulsion Systems
The year-on-year growth in inter-state, intra-state, and cross-border trade activities has triggered the demand for marine ships. Rise in number of marine ships for several operations inside and outside a country has boosted the demand for fuel-efficient marine propulsion systems. Increase in usage of ferries for transportation purposes in coastal waterways is driving the demand for hybrid and full electric marine propulsion system. New/converted hybrid/full electric ferries play an important role in public transport systems in many waterside cities and islands.
Shift from Conventional to Hybrid Propulsion Units
Implementation of strict regulations around the Emission Control Areas (ECA) across the globe has boosted investment in marine hybrid propulsion systems. Stringent regulations pertaining to carbon emissions and oil spillage have augmented investments in the development of fuel-efficient marine propulsion systems. Better fuel-efficient marine propulsion components such as generator and motors are being developed by companies operating in the market. Various ship operators are utilizing renewable energy (including solar energy) as storage option in hybrid propulsion systems. Stored solar energy is used during peak hours or at night in marine propulsion systems. This eliminates the round-the-clock need for conventional marine fuel. Hence, a shift toward usage of hybrid propulsion units is estimated to take place in the near future. Furthermore, governments of several countries are funding and supporting development and adoption of the latest technology in marine propulsion systems. Various ship operators are utilizing renewable energy, including solar energy, as storage option in hybrid propulsion systems.
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