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Marine Vessel Energy Efficiency Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Jan 2021
  • Pages: 120
  • SKU: IRTNTR70031
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The marine vessel energy efficiency market size has the potential to grow by USD 163.00 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 4.22%. 

This report provides a detailed analysis of the market by application (systems and sensors and software), geography (APAC, Europe, North America, MEA, and South America), and key vendors. 

Market Overview

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • Becker Marine Systems GmbH
  • Gaztransport & Technigaz SA
  • Haldor Topsoe AS
  • Hyundai Heavy Industries Co. Ltd.
  • MAN Energy Solutions SE
  • Norsepower Oy Ltd.
  • PowerCell Sweden AB
  • Schneider Electric SE
  • Siemens AG
  • Wartsila Corp.

 

The marine vessel energy efficiency market is fragmented and the vendors are deploying growth strategies such as technological innovations to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as alternative fuel and fuel engine innovations to achieve growth opportunities. However, factors such as offshore activity limitations will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the marine vessel energy efficiency market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This marine vessel energy efficiency market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Marine Vessel Energy Efficiency Market: Key Drivers and Trends

  • Innovations towards alternative fuel and fuel engine is identified as one of the primary growth factors for this market. 
  • The abundant availability of conventional and shale gas reserves has boosted the demand for LNG as a fuel for marine engines. 
  • Additionally, wind energy and solar energy have also emerged as popular supporting power-generating sources as the generation of energy from such sources does not pollute the environment. 
  • Furthermore, stringent regulations such as the International Convention on the Prevention of Pollution from Ships will also drive the market’s growth since these regulations mainly focus on the protection of the marine environment against contamination by oil, chemical spills, and air pollution by engine exhaust gasses.
  • The ship’s bulbous bow, which is a bulb-like projection at the forward end of the ship fitted below waterline while the ship is afloat, can be modified to improve the fuel efficiency of the vessels. 
  • Stakeholders, such as the Japan-based NYK Group and Danish Maersk, have used this technique to reduce fuel consumption.
  • Due to the modifications implemented by the NYK Group on the bulbous bow of a container ship, a significant 23% reduction in CO₂ emissions in six months was achieved.
  • This will increase the need for modifications in bulbous nose designs to lower fuel consumption, which according to this market research report, will be one of the latest trends that will gain traction in the marine vessel energy efficiency market in the coming years.

 

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Marine Vessel Energy Efficiency Market: Segmentation by Geography

Marine-Vessel-Energy-Efficiency-Market-Market-Share-by-Region-2020-2025

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45% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for marine vessel energy efficiency in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increase in shipping and the emergence of developing countries in shipbuilding and related activities are the prime factors that will facilitate the marine vessel energy efficiency market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Marine Vessel Energy Efficiency Market: Segmentation by Application

Marine-Vessel-Energy-Efficiency-Market-Market-Share-by-Application-2020-2025

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Factors such as the growing demand for commodities and supply of manufactured goods due to the economic development and growth of the marine industry will contribute to the growth of the systems segment in the coming years. Therefore, the growth of the market is expected to be significant during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the marine vessel energy efficiency market size. Fetch actionable market insights on post COVID-19 impact on each segment. 

 

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Marine Vessel Energy Efficiency Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive marine vessel energy efficiency market growth during the next five years
  • Precise estimation of the marine vessel energy efficiency market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the marine vessel energy efficiency industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of marine vessel energy efficiency market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Market characteristics
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Systems - Market size and forecast 2020-2025
    • Sensors and software - Market size and forecast 2020-2025
    • Market opportunity by Application

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption
      • Competitive scenario

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Becker Marine Systems GmbH
      • Gaztransport & Technigaz SA
      • Haldor Topsoe AS
      • Hyundai Heavy Industries Co. Ltd.
      • MAN Energy Solutions SE
      • Norsepower Oy Ltd.
      • PowerCell Sweden AB
      • Schneider Electric SE
      • Siemens AG
      • Wartsila Corp.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
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      Marine Vessel Energy Efficiency market growth will increase by $163.00 million during 2020-2025.
      The marine vessel energy efficiency market is expected to grow at a CAGR of 4.22% during 2020-2025.
      Technavio has segmented the marine vessel energy efficiency market by application (Systems and Sensors and software) and geographic (APAC, Europe, North America, MEA, and South America).
      Becker Marine Systems GmbH, Gaztransport & Technigaz SA, Haldor Topsoe AS, Hyundai Heavy Industries Co. Ltd., MAN Energy Solutions SE, Norsepower Oy Ltd., PowerCell Sweden AB, Schneider Electric SE, Siemens AG, Wartsila Corp. are a few of the key vendors in the marine vessel energy efficiency market.
      APAC will register the highest growth rate of 44.66% among the other regions. Therefore, the marine vessel energy efficiency market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the marine vessel energy efficiency market growth are:
      • Alternative fuel and fuel engine innovations
      The marine vessel energy efficiency market vendors should focus on grabbing business opportunities from the systems segment as it accounted for the largest market share in the base year.
      • What are the key global market and the regional market share?
      • What are the revenue-generating key market segments?
      • What are the key factors driving and challenging this market’s growth?
      • Who are the key market vendors and their growth strategies?
      • What are the latest trends influencing the growth of this market?
      • What are the variables influencing the market growth in the primary regions?
      • What are the factors influencing the growth of the parent market?
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