The global marine hybrid propulsion market is set to gain momentum from the increasing demand for fuel-efficient systems. Rolls-Royce, for instance, developed Azipull, a novel thruster that provides low vibration and noise levels. It also has hydrodynamic efficiency. Such innovations in the industry would affect growth positively. As per a report by Fortune Business Insights™, titled, “Marine Hybrid Propulsion Market Size, Share & COVID-19 Impact Analysis, By Type (Diesel-Electric, Gas-Electric, and Others), By Operation (Parallel and Serial), By Deadweight (Less Than 5K DWT, 5K-10K DWT, and More than 10K DWT), By Ship Type (Anchor Handling, Tug, Supply vessels, Platform Supply Vessel, Yachts, Motor Ferry, Cruise Liner, Small Cargo Ships), By Installation (Line Fit and Retrofit) and Regional Forecast, 2021-2028,” the market size was USD 3,053.2 million in 2020. It is projected to grow from USD 3,370.9 million in 2021 to USD 8,122.2 million in 2028 at a CAGR of 13.39% in the forecast period.
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