Pune, India, Feb. 09, 2022 (GLOBE NEWSWIRE) -- The global marine vessel energy efficiency market size is set to gain momentum from the constant growth in international transport of marine freight. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Marine Vessel Energy Efficiency Market, 2022-2029.” In addition, the sensors & softwares are ready to gain a major share because the sensor application provides an opportunity to enhance the safety and efficiency of the ships.
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Prominent Players Present in the Market:
- ABB Group
- Bureau Veritas
- Siemens
- Schneider Electric
- GreenSteam
- PowerCell Sweden
- Marorka
- Haldor Topsoe
- Eniram
- Equinor ASA
- Hyundai Heavy Industries
- Norsepower
- Blended Fuel Solutions
COVID-19 Impact-
Pandemic Stagnated Market Growth as a Cause of Supply Chain Disturbance
Sudden announcement of a national emergency by the World Health Organization (WHO) rushed the market of every industry. The management was disrupted by the sudden lock. The marine vessel is used in enhancing operational efficiency by sustainable energy. The transports were off which included marines and thus resulted in stagnancy of the market of marine vessel energy efficiency. The lockdown disrupted the market and resulted in the downfall of market growth.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
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Competitive Landscape-
Key Players Focusing on Gaining Position in Global Market by Delivering Demand in Time
The key competitors are striving hard to get a competitive edge in the global market of marine vessel energy efficiency. The competitors are developing manufacturing methods in order to gain customers. The key competitors adopt advanced technologies to deliver the demand within a given time period. Significant players striving to gain collaborators to expand the market in the global market. New strategies and its implementations are taken up to grow in the global market of marine vessel energy efficiency.
Industry Developments-
- February 2019- Hyundai Heavy Industries took over Daewoo Shipbuilding & Marine Engineering.
- February 2019- Turbo & Man Diesel won the supply order of 18 TIER II-complaint main engines for the roro vessels of lane-metre.
- January 2019- Castle hill supply order, ship designed Fraserburgh, Wartsila received a Wartsila 32 main engine.
Report Coverage-
The report covers various aspects of growth and restraints. Key competitors and their advanced strategy to stand in the market is also described in the report. The efficiency of vessels and the market growth factors have been described along with the cause of it. In-depth market analysis is done to gain insights of market competition and upcoming opportunities. Regions to gain global positions are depicted with the growth cause, demand and supply of the product is also mentioned in this report. Competitive landscape is highlighted in the report along with highlighting comprehensive insights of the global market of marine vessel energy efficiency. The disruption of the market caused by COVID-19 is also included in the report to give a complete market analysis report to the competitors.
Drivers & Restraints-
International Marine Freight Growth to Drive Market as a Major Driver
The marine vessel energy efficiency market growth is expected to be driven by a consistent rise in demand for container ships. The constant growth in international transport of marine freight to surge market growth at an exponential rate. The service vessel’s principle is to support power to the other vessel. These vessels are significant in marine energy efficiency development.
Whereas, the strict regulations for the safety of the environment across the world may put limits on the growth of the market.
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Segments-
Based on product type, the market is segmented into hardware systems, and software systems.
On the basis of application, the market is segregated into passenger ships & ferries, dry cargo vessels, service vessels, fishing vessels, dry bulk carriers, off-shore vessels, yachts, and others.
Regionally, the market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Regional Insights-
Asia Pacific to Witness Maximum Growth as A Cause of Rising Shipping and Emergence of Developing Countries
Asia Pacific to bolster growth with the help of factors like- rise in shipping and the development of developing countries in shipbuilding will enhance the efficiency growth of marine vessels.
Europe to witness maximum growth in marine vessel energy efficiency market share after Asia Pacific due to maximum development in autonomous electric vessels which have the capability to fuel cells and vessels which can be controlled remotely.
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