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Global Marine Propulsion Market at a CAGR of more than 4.0% from 2018 to 2026

Theu00a0global marine propulsion marketu00a0was valued at nearly US$ 12 Bn in 2017 and is anticipated to expand at a CAGR of more than 4.0% from 2018 to 2026, according to a new report titledu00a0u201cMarine Propulsion Market u2013 Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017u20132026u201d by Transparency Market Research (TMR).u00a0The global shipping industry is highly dependent on marine vessels for inland/cross-border trade activities. Currently, more than 50% of operational marine fleet utilizes diesel-based propulsion systems. However, shift toward clean energy and hybrid solutions is expected to hamper the demand for diesel-based propulsion systems in the near future.

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Global Marine Propulsion Market at a CAGR of more than 4.0% from 2018 to 2026

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  1. Global Marine Propulsion Market at a CAGR of more than 4.0% from 2018 to 2026 The global marine propulsion market was valued at nearly US$ 12 Bn in 2017 and is anticipated to expand at a CAGR of more than 4.0% from 2018 to 2026, according to a new report titled “Marine Propulsion Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2026” by Transparency Market Research (TMR). The global shipping industry is highly dependent on marine vessels for inland/cross-border trade activities. Currently, more than 50% of operational marine fleet utilizes diesel-based propulsion systems. However, shift toward clean energy and hybrid solutions is expected to hamper the demand for diesel-based propulsion systems in the near future. To know more, Request Sample@ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=43946 Increase in demand for retrofit of existing marine fleets Retrofits activities relate to existing marine fleets that are outdated as per the current norms and regulations imposed by governments of various countries. This provides ample opportunities for the deployment of more efficient marine propulsion systems for voyage. Several countries in Europe are shifting toward the production of renewable energy. This has paved the way for the adoption of clean technology systems, such as marine hybrid/renewable propulsion systems, in the existing marine fleet. Interest in battery hybrid installations for new buildings and retrofits has increased significantly of late. For More Information,Request Brochure@ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=43946 The marine industry is increasingly investing in technologies that improve fuel efficiency, adhere to new environmental regulations, and help lower harmful emissions. Thus, retrofit of the existing marine fleet is anticipated to boost investments in the marine propulsion systems business.

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