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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