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Zero Emission Vessel: Introduction

  • Zero emission vessel is a marine vessel or watercraft that emits zero or no atmospheric emission. Zero emission vessels are used in water bodies for transportation and include water vehicles, such as boats, ships, submarines, and hovercraft.
  • There is a paradigm shift from fossil fuel-powered marine vessel to zero emission vessel in order to meet its speed with the changing world where there is significant demand for cost-effective DE carbonization pathway for marine. The Paris Climate Agreement was passed for carbon reduction, which is likely to prompt an ambitious curtail in emission via zero emission vessels entering the marine fleet by 2030.

Key Drivers of Global Zero Emission Vessel Market:

  • According to a study conducted within the marine industry, 80% of industry related personnel agreed toward the need for zero emission vessels. These vessels offers high travel range, reliability, durability, and require low maintenance than traditional marine vessels.
  • Rise in global and bilateral trade supplemented with revised trade policies has increased marine trade and volume proportion, thereby leading to carbon pollution. This can be eliminated through zero emission vessels and can be more cost-effective, as it reduces carbon tax. These factors are anticipated to drive the zero emission vessel market across the globe.
  • Inland waterway transportation acts as a viable alternative or addition to road and rail transportation, and plays a prime role in freight and goods transportation. Moreover, inland waterway transportation is characterized by its energy efficiency, reliability, and major capacity for surged exploitation as compared to other modes of transportation, especially road transportation. Use of zero emission vessels is estimated to drastically reduce carbon emission and offer low cost solution for transportation. Thus, it is likely to boost the zero emission vessel market across the globe.

Biofuel Technology Segment to Offer Attractive Opportunities:

  • Biofuel-powered vessels emit zero or negligible GHG emissions during constant operation. Moreover, third-generation biofuels are accessible to the marine industry where no gas is emitted during the production cycle. Additionally, biofuel is a highly lucrative segment. It costs relatively lower than the other fuels, as it does not require extra capital cost when using traditional ship machinery and storage.
  • Therefore, the biofuel segment of the zero emission vessel market is anticipated to expand at a significant during the forecast period. The vessel constitutes of a biofuel tank and an internal combustion engine.

COVID–19 Pandemic to Hamper Market:

  • The COVID-19 crisis is affecting economies and industries in various countries due to lockdowns, travel bans and business lockdowns. The global materials industry is suffering serious disruptions such as supply chain breaks, office shutdowns, and others. For instance, China is global manufacturing hub and raw material supplier of various industries, and it is also one of the worst affected countries. The lockdown of various plants and factories in China is restricting the global supply chains and disrupting manufacturing, delivery schedules, and various material sales. Various companies announced possible delays in product deliveries and slump in future sales of their products. All these factors are anticipated to hamper the global zero emission vessel market across the globe.

Europe to Hold Significant Share of Global Zero Emission Vessel Market:

  • Rate of adoption of zero and electric marine vessels is high in Europe. Moreover, a surge in inland waterway transportation has been witnessed as the European Commission is encouraging, supporting, and strengthening the competitive position of inland waterways transportation through its integration into the intermodal logistics chain. This is likely to propel the zero emission vessel market in the region.
  • Europe is a leading technological hub globally, and the region is an early adopter of zero emission transportation systems. Surge in seaborne trade from and within Europe is anticipated to augment the zero emission vessel market during the forecast period.

Key Players Operating in Global Market:

The global zero emission vessel market is consulted with top manufacturers across the global market. A few of the key players operating and potential in the global zero emission vessel market are:

  • B9 Energy Ltd.
  • DNV GL
  • Scandlines
  • Wallenius Wilhelmsen ASA
  • NYK Line
  • NORWEGIAN ELECTRIC SYSTEMS
  • AKASOL AG
  • Eco Marine Power
  • Greenline Yachts
  • Boesch Motorboote AG

Global Zero Emission Vessel Market: Research Scope

Global Zero Emission Vessel Market, by Technology

  • Electric
  • Hybrid Hydrogen
  • Hydrogen Fuel Cell
  • Hydrogen + ICE
  • Ammonia Fuel Cell
  • Ammonia + ICE
  • Biofuel

Global Zero Emission Vessel Market, by Ship Type

  • Bulk Carrier
  • Container Ship
  • Tanker
  • Cruise
  • Others

Global Zero Emission Vessel Market, by Application

  • Passenger Freight
  • Cargo Freight
  • Defense & Security

Global Zero Emission Vessel Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Zero Emission Vessel Market

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