Valuation of Battery Pack for Marine Hybrid and Full Electric Propulsion Market to Reach ~USD 600 Million by 2030: TMR

Valuation of Battery Pack for Marine Hybrid and Full Electric Propulsion Market to Reach ~USD 600 Million by 2030: TMR

PR Newswire

ALBANY, New York, June 2, 2020

- Hybrid Propulsion and Ferries segments to account for a significant share of the market

- Growing concerns regarding environmental pollution is set to drive growth in the market over the forecast period

- Asia Pacific will be a dominant region in the market; China, Japan, and South Korea to contribute significantly

ALBANY, New York, June 2, 2020 /PRNewswire/ -- By the year 2030, the global battery pack for marine hybrid and full electric propulsion market will reach a valuation of USD 600 million (approximately). It will be a notable increase from valuation of about USD 240 million in the year 2019. The compound annual growth rate (CAGR) that the market will witness from 2020 to 2030 will be about 9%.

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Transparency Market Research notes, "High demand from marine industry to power diesel electric hybrid vehicles is set to contribute massively to the growth of global battery pack for marine hybrid and full electric propulsion market."

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Key Findings of Global Battery Pack for Marine Hybrid and Full Electric Propulsion Market Study:

Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on Battery Pack for Marine Hybrid & Full Electric Propulsion Market (Power Rating: Up to 1 MW, 1.1 MW – 2 MW, 2.1 MW – 3.5 MW, and Above 3.5 MW; Propulsion Type: Hybrid Propulsion and Full Electric Propulsion; Vessel Type: Tugboats & OSVs, Ferries, Defense Vessels, Yachts, Cruise Ships, and Others; and RPM: 0 -RPM – 1,000 RPM, 1,001 RPM –2,500 RPM, and Above 2,500 RPM) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030, at https://www.transparencymarketresearch.com/pressrelease/battery-pack-market-for-hybrid-and-full-electric-marine-propulsion.htm

Key Drivers of Growth in the Global Battery Pack for Marine Hybrid and Full Electric Propulsion Market:

A multitude of growth factors is at play in the global battery pack for marine hybrid and full electric propulsion market. These are not only set to keep the market buoyant over the forecast period but are also shaping the way it will operate in the period beyond that.

View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/76884

Regional Analysis of Global Battery Pack for Marine Hybrid and Full Electric Propulsion Market:

Analyze global battery pack for marine hybrid and full electric propulsion market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Competitive Landscape of Global Battery Pack for Marine Hybrid and Full Electric Propulsion Market:

The Global Battery Pack for Marine Hybrid and Full Electric Propulsion Market is marked by presence of key players such as Corvus Energy, Eco Marine Power, Rolls-Royce plc, Nidec Group, and RELiON Batteries, among others. These are comprehensively profiled in the report prepared by Transparency Market Research. It is worth noting here that the market is consolidated and competition is intense. Currently, players are focused on reducing size of battery and improving performance.

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