Top Trends in Fuel Cells for Marine Vessels Market
LONDON - November 10, 2017 (Investorideas.com Newswire) Technavio's latest market research report on the global fuel cells for marine vessels market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
One of the key drivers fueling the growth of the global fuel cells for marine vessels market is the rising demand for alternate propulsion systems. Over the years, there has been substantial evolution in marine propulsion systems market. Conventional systems are typically based on diesel engines and gas turbines, with their primary function being to convert chemical energy of the fuel into mechanical energy. There has been a shift towards alternative propulsion systems in the recent years.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
The three emerging market trends driving the global fuel cells for marine vessels market according to Technavio research analysts are:
- Evolution of hydrogen as a marine fuel
- Adoption of AIP technology
- Emergence of hybrid propulsion systems
Looking for more information on this market? Request a free sample report
Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Evolution of hydrogen as a marine fuel
There has been a shift towards fuels such as low sulfur fuel oil (LSFO, which releases negligible sulfur oxide emissions) and hydrogen fuel (which has zero emissions owing to the production of water on burning) by the global marine transportation industry because of stringent regulatory pressures from governments and increase in bunker fuel oil prices. Globally, there has been increased recent adoption of hydrogen fuel for transportation applications.
According to Moutushi Saha, a lead analyst at Technavio for defense technology, "Hydrogen can be produced by electrolyzing water. If the electrolysis process uses renewable energy sources (like wind energy), the hydrogen fuel that is produced is also renewable. Hydrogen is being deployed in fuel cells to power propulsion system of marine vessels because of such advantages. In 2012, FutureShip, a German company, designed a zero-emission container feeder vessel, which is expected to be operational by 2017. Small vessels that possess regular refueling ability also use hydrogen fuel cell technology."
Adoption of AIP technology
Air-independent propulsion (AIP) is a technology that uses fuel cells to power the propulsion system of marine vessels such as submarines. It permits non-nuclear submarines to operate without the need to surface for oxygen. Nuclear submarines utilize onboard nuclear reactors to generate power whereas the non-nuclear submarines typically run on battery power. Due to their low acoustic signature, the stealth capabilities of non-nuclear submarines can be enhanced.
Some submarines use fuel cells such as PAFCs and PEMFCs. A fuel cell-based AIP system, is being developed by India that can be integrated in submarines. Luxury cruise vessels are also focusing on quieter operation.
Emergence of hybrid propulsion systems
There has been rising interest in reducing the negative impact of the shipping industry because of the increase in the volume of world trade by sea route by 80%. The International Maritime Organization (IMO) has thus planned regulations, measures, and emission reduction policies to control GHG emissions by marine vessels. To measure the increase in energy efficiency of ships, the hybrid electric power and propulsion concepts have been recommended by experts as an EEDI.
"Several changes have been brought to battery technology by the recent advancements in marine propulsion systems. A wide range of advantages are offered by the battery system with fuel cells and hybrid electric systems, which is an emerging technology. There is no release of any harmful emission by recharging such batteries. Additionally, such setups allow the generation of electricity to power the gas turbine propulsion system in ships," says Moutushi.
Browse Related Reports:
- Global Defense Fuel Cells Market 2017-2021
- Global Military Laser Systems Market 2017-2021
- Global Military Simulation and Virtual Training Market 2017-2021
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
FuelCellCarNews.com - a leader in fuel cell investor stock research and fuel cell stock news; green car stock news and research
Like Fuel Cell Stocks? View our Fuel Cell Stocks Directory
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.