The global marine hybrid propulsion market was valued at USD 6.05 billion in 2024. It is projected to expand from USD 7.13 billion in 2025 to reach USD 14.49 billion by 2032, reflecting a compound annual growth rate (CAGR) of 10.7% over the forecast period. In 2024, Asia Pacific emerged as the leading region, accounting for 31.74% of the global market share.
In order to improve engine performance and cut pollution, hybrid propulsion systems for marine applications combine an internal combustion engine and battery power. They are perfect for boats with variable operating profiles and runtimes that demand different amounts of power. There are many different hybrid propulsion systems, but serial and parallel hybrid propulsion are the most widely used. Power generation flexibility, reduced carbon emissions, and fewer maintenance costs are all features of hybrid propulsion systems. Due to these important characteristics, the market for marine hybrid propulsion systems is anticipated to expand throughout the course of the forecast period.
Fortune Business Insights presents this information in their report titled "Global Marine Hybrid Propulsion Market Size, Share, Forecast, and 2025–2032."
Information Source:
https://www.fortunebusinessinsights.com/industry-reports/marine-hybrid-propulsion-market-100128
Extensive Applications of Parallel Hybrid Propulsion Market to Boost Segment Growth