Pune, April 27, 2021 (GLOBE NEWSWIRE) -- The global marine power plant market is witnessing a continual rise in its revenues. The market growth attributes to rising government initiatives to reduce carbon footprints and accelerate green energy production capacities. Besides, rising numbers of verified marine power plants worldwide that aim to operate cost-efficiently in areas with low-flow tidal streams and ocean currents offer significant growth opportunities.
Other trends observed in the market are substantial investments by governments and leading marine energy producers & technology providers with the mission to minimize the global carbon footprint of the energy industry by enabling commercial power production from the ocean. Moreover, the rising global demand for power and improvements in the power generation segment drives the growth of the market.
The move towards a carbon-neutral future and collaborative efforts between government and industry players to reduce carbon emissions by introducing green floating fuel stations (floating biofuel stations) boost market size. Additionally, increasing demand for onshore wind power generation and wave & tidal power generation escalates market growth.
According to Market Research Future (MRFR), the global marine power plant market is projected to grow at a 4% CAGR during the anticipated period (2020 – 2027). Governments worldwide have made significant progress related to electricity generation to grid as a part of the continued operations program in their tidal energy projects.
Get Free Sample PDF Brochure:
https://www.marketresearchfuture.com/sample_request/8349
Marine Power Plant Market – Segments
The marine power plant market analysis is segmented into propulsion, application, and region. The propulsion segment is sub-segmented into electric and conventional types. The conventional type segment is sub-segmented into internal combustion engine (ICE), gas engine, and steam turbine.
The application segment is sub-segmented into commercial ship and leisure ship, and others. By regions, the market is sub-segmented into the Asia Pacific, Americas, Europe, and rest-of-the-world.
Marine Power Plant Market - Regional Analysis
The Asia Pacific region dominates the global marine power plant market. The largest market share attributes to the strong presence of marine power plant industries, large consumer base of energy, and developing transportation & logistics sector. Besides, the growing consumption of natural gas and availability of inexpensive labor substantiate the market growth.
Europe holds the second-biggest share in the global marine power plant market. The market growth is driven by growing developments in ocean energy infrastructures and hybrid marine power plants. Additionally, rising investment for the development of commercial-scale marine power plants across the region boosts the market size. The growing demand for uninterrupted power supply boosts the regional market growth.
The North American marine power plant market is growing at a significant rate. The region holds huge demand for nuclear-powered submarines and advanced combat technologies. Factors such as large budgets to improve the technology of battleships and the modernization of naval fleets undertaken by the governments create substantial market demand.
Browse In-depth Market Research Report (100 pages) on Marine Power Plant:
https://www.marketresearchfuture.com/reports/marine-power-plant-market-8349
Global Marine Power Plant Market - Competitive Landscape
The market appears highly competitive and fragmented, with many large players forming a competitive landscape. Industry players make considerable investments locally as well as in emerging countries to expand their global footprints and distribution & supply chain networks.
Obtaining strong financial support is the sole strategy of these players to maintain their market positions. Plant operators strive to minimize production costs by adopting cost-effective techniques.
Major Players
Players leading the global marine power plant market include Cummins (US), Caterpillar Inc. (US), Hyundai Heavy Industries Co., Ltd. (South Korea), Mitsubishi Heavy Industries, Ltd. (Japan), MAN Energy Solution (Germany), Rolls-Royce plc (UK), Daihatsu Diesel Mfg. Co., Ltd. (Japan), Wärtsilä Oyj Abp (Finland), Doosan Infracore (South Korea), Hydraulic Marine Systems Inc. (US), Fairbanks Morse (US), Masson Marine (France), Siemens AG (Germany), Samsung Heavy Industries (US), and Mercury Marine (US), among others.
Share Your Queries:
https://www.marketresearchfuture.com/enquiry/8349
Industry/ Innovation/ Related News
March 12, 2021 ---- Minesto, a leading marine energy developer and Schneider Electric, a leading global player in digital transformations and automation of energy management, announced their collaboration to develop and build ocean energy farms with Minesto's Deep Green technology.
The collaboration is expected to accelerate the commercial roll-out of marine energy to enable the global transition towards net-zero societies, where energy systems such as plannable and renewable energy production are necessary.
Discover More Research Reports on Energy and Power Industry, By Market Research Future
Browse Related Reports:
Global UPS Battery Market Information Report by Battery type (Lead Acid, Nickel Cadmium, Li-ion, and Others), by Organization Size (Small and Medium Enterprises (SMEs) and Large Enterprises), by Application (Residential, Commercial, Data center, and Industrial), and by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) – Forecast till 2027
Global Battery Analyzer Market Information Report by Type (Stationary and Portable), by Battery Type (Lithium-ion battery, Nickel-Cadmium battery, and Lead acid battery), by End-use Industry (Automotive, IT & Telecom, Healthcare, Aviation & Defense, and Others), and by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) and Forecast till 2027
Global Grid Connected PV Systems Market Information Report by Components (Solar Panels, Power Conditioning Unit, Grid Connection Equipment, Inverters, and Others), by Technology (Thin Film, Crystalline Silicon, and Others), by Grid Type (Grid Connected, Centralized, and Decentralized), by Application (Residential, Commercial, Utility, and Industrial), and by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) - Forecast till 2027
Global Gel Battery Market Research Report: Information By Type (2V, 6V and 12V), (Electric Mobility, Energy Storage & Distribution, Telecommunication and others) and Region (North America, Asia-Pacific, Europe, Middle East & Africa and South America) - Forecast till 2027
Global Remote Renewable Management Systems Market Research Report: Information By Component (Hardware, Software, Services), End Use (Residential, Wastewater Treatment, Agricultural, Healthcare, Others) and Region (North America, South America, Europe, Asia-Pacific and Middle East & Africa) - Forecast till 2027
Global Power Tool Battery Market Research Report: Information By Type (Nickel-cadmium, Nickel-Metal Hydride and Lithium-ion), Tools (Drills, Saws, Lawn Mower, Impact Wrench and others), Application (Residential, Commercial and Industrial and Region - Forecast till 2027
Global Geothermal Turbines Market Research Report: Information By Type (Dry Steam, Flash Cycle, Binary Cycle), Application (Industrial, Residential, Agricultural, Others) and Region (North America, South America, Europe, Asia- Pacific and Middle East & Africa) - Forecast till 2027
Global Wind Turbine Services Market Research Report: Information By Type (Original Equipment Manufacturer (OEM), Independent Service Provider (ISP) and In-House), Application (Onshore and Offshore) and Region (North America, South America, Europe, Asia- Pacific and Middle East & Africa) - Forecast till 2027
Global Solar Encapsulation Market Research Report: Information By Technology (Thin-Film Solar Technology, Cadmium Telluride (CDTE), {Copper Indium Gallium Selenide (CIGS) and Amorphous Silicon (A-SI)} and Polycrystalline Silicon), Material (Ethylene Vinyl Acetate, Polydimethylsiloxane, Ionomers, Polyvinyl Butyral and Others {Thermoplastic Polyurethane (TPU) and Polyolefin}), End-Use (Automotive, Electronics, Construction and Others) and Region (North America, South America, Europe, Asia-Pacific and Middle East & Africa) - Forecast till 2027
Global Fire Rated Ducts Market Research Report: Information By Material (Steel, Aluminum, Fiberglass, Polymers and others), Shape (Round, Half Round, Rectangular, Triangular and Others), Penetration (Wall, Decks, Floor and Others), Service (Core Drilling, Seals, Duct Installation and Others), Application (Public Facilities, Commercial Facilities, Industrial Facilities and Others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2027
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.