Battery Pack for Marine Hybrid & Full Electric Propulsion Market

Hybrid Electric Battery Systems Acquire Prominence in Vessels for Short Sea Sector

There is a growing demand for bigger batteries that are capable of powering diesel electric hybrid vessels. This is evident since the revenue of hybrid propulsion vessels is greater than full electric propulsion vessels in the battery pack for marine hybrid & full electric propulsion market. Vessel owners in the market for battery pack for marine hybrid & full electric propulsion are increasing efforts to maximize electricity use, and this trend is fueling the demand for high-capacity batteries that meet specific project requirements. Thus, companies in the market for battery pack for marine hybrid & full electric propulsion are increasing their production capabilities to manufacture above 3.5 megawatt (MW) batteries that are gaining prominence in plug-in hybrid ferries.

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Companies in the battery pack for marine hybrid & full electric propulsion market are increasing the availability of hybrid electric drivetrain systems for ferries in the short sea sector. For instance, Danfoss Editron— a supplier of sophisticated electric drivetrain solutions provided a hybrid electric drivetrain system for a new ferry in north-west Denmark.

Battery Pack for Marine Hybrid & Full Electric Propulsion Market Infographic

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Dual-fuel PSVs Increase Fuel Efficiency and Reduce NOx Emissions

The number of battery-hybrid OSVs (Offshore Service Vessels) is growing in the battery pack for marine hybrid & full electric propulsion market. OSV owners are increasing focus to retrofit diesel-electric and LNG (Liquefied Natural Gas)-powered fleets with battery-hybrid propulsion in order to increase fuel efficiency and reduce nitrogen oxide (NOx) emissions in the environment. For instance, Eidesvik Offshore— a Norway-based shipping company is increasing focus in dual-fuel, diesel-electric-powered platform supply vessels (PSV) in order to comply with environment regulations.

An increase in the number of dual-fuel engine vessels with an output of up to 2,010 kW at 720 rpm are revolutionizing the battery pack for marine hybrid & full electric propulsion market. As such, the market for battery pack for marine hybrid & full electric propulsion is estimated to reach a value of ~US$ 600 Mn by the end of 2030.

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COVID-19 Crisis Drives Need for Dynamic Planning and Re-activation of Fleets

The issue of vessel lay-ups is becoming widespread in the market for battery pack for marine hybrid & full electric propulsion due to the coronavirus (COVID-19) pandemic. Thus, vessel owners need to adapt, react, and plan, owing to uncertainty in charter and cargo. Vessel owners in the battery pack for marine hybrid & full electric propulsion market are planning for re-activation of fleets and are adopting dynamic measures to quickly respond to changing situations.

The trend of webinars is growing in the market for battery pack for marine hybrid & full electric propulsion amidst the COVID-19 crisis. For instance, Riviera Maritime Media— a specialist publisher and event organizer within the maritime and offshore industries has an ongoing multi-week series of webinars that shares information on vessel operations amidst the COVID-19 outbreak. Negative ramifications of COVID-19 have led to zero revenue environments for the cruise ship industry in the battery pack for marine hybrid & full electric propulsion market.

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