Short-sea Shipping and Local Manufacturing to Generate Revenue amidst COVID-19 Pandemic
Negative ramifications of the coronavirus (COVID-19) pandemic are being experienced in the marine industry. Hence, organizers of the SMM international maritime trade fair remotely conducted their event, which has now been postponed to February 2024. Thus, shipowners, suppliers, and analysts in the marine hybrid & full electric propulsion market are on the pry to attend webinars and online trade events to adopt strategies that help to create revenue generation opportunities.
Companies in the marine hybrid & full electric propulsion market has been subject to issues such as climate change, the digitization challenge, and is anticipated to further deteriorate due to the COVID-19 outbreak. As such, short-sea shipping and gradual increase in local manufacturing for countries where the virus is subsiding, shows positive growth for hybrid propulsion system manufacturers.
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Parallel Hybrid Systems: A Novel Introduction in E-propulsion Sector
Technology game changers such as brushless permanent magnet electric motors and serial hybrid systems are bringing about a significant change in the marine hybrid & full electric propulsion market. Magnet electric motors are built with the lithium ion battery technology, which is a novel introduction in the marine electric propulsion sector. On the other hand, parallel hybrid systems are gaining more popularity as compared to serial hybrid systems, owing to the former’s advantages of a free-spinning propeller. Apart from megawatt systems, companies in the marine hybrid & full electric propulsion market are increasing their production capabilities to manufacture pre-packed kilowatt systems that boat builders can drop into their engine rooms.
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Full electric propulsion system manufacturers are collaborating with battery makers to find ways of efficiently discharging energy in e-propulsion systems. Companies are increasing their production capabilities to develop hybrid propulsion systems capable of operating in variable speeds.
Hybrid Marine Propulsion Systems Help Conserve Environmental Resources
Large ships have the capacity to release emissions of several thousand cars, along with harmful carcinogenic particles. This issue has led to the introduction of hybrid marine propulsion systems. Marine hybrid & full electric propulsion systems are gaining popularity, owing to its advantages of zero-emission shipping. These systems are projected to represent a business of US$ 7.8 Bn for the marine hybrid & full electric propulsion market by the end of 2030. Thus, manufacturers are increasing their R&D muscle to develop systems that focus on reducing environmental footprint and also deliver high performance in shipping activities.
Managing director Massimo Labruna of AS Labruna-a manufacturer of marine hybrid & full electric propulsion systems and power generators, states that he is a firm believer that shippers must adopt hybrid marine propulsion systems in order to conserve the environmental resources. Thus, companies in the marine hybrid & full electric propulsion market have an upper hand for fruitful business opportunities during the assessment period.
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New Propeller Systems Leverage Marine Hybrid & Full Electric Propulsion Technology
Self-sufficient ocean cruisers are gaining energy boost with the electric hybrid marine technology. For instance, Energy Observer— an ocean cruiser that works on fuel cell propulsion, completed its first transatlantic passage by processing its own hydrogen with the help of solar power. This is evident since companies in the marine hybrid & full electric propulsion market are investing in technologies that accommodate alternate fuel solutions such as hydrogen, LNG (Liquefied Natural Gas), and biofuel.
The marine hybrid & full electric propulsion technology is being leveraged with the integration of new propellers in vessels. For instance, Bruntons Propellers Ltd.- a designer and manufacturer of propellers for vessels, has been investing in R&D for innovating in automatic pitch adjustment systems for propellers. Thus, companies in the marine hybrid & full electric propulsion market are benefitting with the introduction of new propeller systems in vessels that support the performance involving constant torque delivered by the electric drive.
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