Dublin, April 25, 2025 (GLOBE NEWSWIRE) -- The "Marine Vessel Energy Efficiency Market Report 2025" has been added to ResearchAndMarkets.com's offering.
This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. Asia-Pacific was the largest region in the marine vessel energy efficiency market in 2024.
The major companies featured in this Marine Vessel Energy Efficiency market report include:
- Equinor ASA
- Siemens AG
- General Electric Company (GE)
- Schneider Electric SE
- Mitsubishi Heavy Industries Ltd. (MHI)
- ABB Group
- Emerson Electric Co.
- Kawasaki Heavy Industries Ltd.
- Wartsila Corporation
- Bureau Veritas S.A.
- MAN Energy Solutions SE
- KONGSBERG
- China Classification Society (CCS)
- Haldor Topsoe A/S
- Gaztransport & Technigaz S.A. (GTT)
- PowerCell Sweden AB
- Yara Marine Technologies AS
- Becker Marine Systems GmbH
- PowerX
- Mustang Technologies
- Foreship Ltd.
- Norsepower Oy Ltd.
- Marorka ehf
- Bound4blue
- X Shore
- GreenSteam Ltd.
The marine vessel energy efficiency market size has grown rapidly in recent years. It will grow from $1.78 billion in 2024 to $2.02 billion in 2025 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to increasing customer demand for sustainable shipping practices, regulatory pressure, cost savings, emission reduction targets, increasing trade volume.
The marine vessel energy efficiency market size is expected to see rapid growth in the next few years. It will grow to $3.09 billion in 2029 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to international trade and shipping demand, rising fuel costs, corporate social responsibility, public perception, retrofitting opportunities. Major trends in the forecast period include development of alternative fuels, transition to LNG, technological advancements, technological innovation, energy management systems.
The rising demand for international trade and shipping is expected to drive the growth of the marine vessel energy efficiency market. For example, in March 2023, the World Trade Organization, a Switzerland-based intergovernmental organization, reported that global trade in goods and services reached $31 trillion in 2022, a 13% rise from $27.5 trillion in 2021. Thus, the growth in international trade and shipping demand is propelling the marine vessel energy efficiency market.
Leading companies in the marine vessel energy efficiency market are focusing on developing innovative technologies to cut emissions, such as wind power-aided ships. In October 2023, Berge Bulk Limited, a Singapore-based technology company, introduced Berge Olympus, a ship equipped with steel and composite sails known as WindWings. This innovation is expected to save up to 20% of fuel or six tons per day on an average worldwide route, reducing carbon emissions by about 19.5 tons per day.
In January 2024, ABB Group, a Switzerland-based technology company specializing in electrification and automation, successfully acquired DTN Shipping for an undisclosed amount. This strategic acquisition positions ABB to provide data-driven solutions for optimizing vessel performance and reducing fuel consumption in the marine vessel energy efficiency market. DTN Shipping, a US-based company, offers a comprehensive solution called DTN marine content services, which integrates marine weather data and analytics into systems.
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Report Scope
Markets Covered:
1) By Type: Hardware System; Sensors And Software
2) By Operation Type: Parallel Hybrid Propulsion System; Serial Hybrid Propulsion System
3) By Application: Passenger Ships And Ferries; Dry Cargo Vessels; Service Vessels; Fishing Vessels; Dry Bulk Carriers; Off-Shore Vessels; Yachts; Other Applications
Subsegments:
1) By Hardware System: Propulsion Systems; Hull Modifications; Air Lubrication Systems; Energy Saving Devices (ESDs); Waste Heat Recovery Systems
2) By Sensors And Software: Monitoring and Control Systems; Fuel Management Systems; Emissions Monitoring Systems; Energy Efficiency Software Solutions; Data Analytics And Optimization Tools
Key Companies Profiled: Equinor ASA; Siemens AG; General Electric Company (GE); Schneider Electric SE; Mitsubishi Heavy Industries Ltd. (MHI)
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2025-2029 |
| Estimated Market Value (USD) in 2025 | $2.02 Billion |
| Forecasted Market Value (USD) by 2029 | $3.09 Billion |
| Compound Annual Growth Rate | 11.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/jl5ooq
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