Published Year: 2023
Wind-Assisted Propulsion Market - A Global and Regional Analysis: Focus on Application, Technology,
The global wind-assisted propulsion market is projected to reach $18,859.1 million by 2032...
Market Research Report
A quick peek into the report
Table of Contents
1.1 Industry Outlook
1.1.1 Trends: Current and Future
1.1.1.1 Technological Innovations in Shipping Industry
1.1.1.2 Increasing Investment in Wind-Assisted Propulsion
1.1.2 Supply Chain Analysis
1.1.3 Ecosystem of Wind-Assisted Propulsion Market
1.1.3.1 Consortiums and Associations
1.1.3.2 Regulatory/Certification Bodies
1.1.3.3 Government Programs
1.1.3.4 Programs by Research Institutions and Universities
1.1.4 Economic Impact of Wind-Assisted Propulsion
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Increasing Need for Reducing GHG Emissions
1.2.1.2 Rise in Sea Trade
1.2.2 Business Challenges
1.2.2.1 High Installation Cost of Wind-Assisted Propulsion Systems
1.2.2.2 Technical Challenges Resisting the Adoption of Wind-Assisted Propulsion
1.2.3 Business Strategies
1.2.3.1 Product and Market Developments
1.2.4 Corporate Strategies
1.2.4.1 Mergers and Acquisitions, Partnerships, and Joint Ventures
1.2.5 Business Opportunities
1.2.5.1 Increasing Preference for Environmental-Friendly Shipping Services
1.2.5.2 Offsetting High Cost of Fossil and Green Fuels
1.3 Start-Up Landscape
1.3.1 Key Start-Ups in the Ecosystem
2.1 China
2.1.1 Market
2.1.1.1 Key Producers and Suppliers in China
2.1.1.2 Business Drivers
2.1.1.3 Business Challenges
2.1.2 Application
2.1.2.1 China Wind-Assisted Propulsion Market (by Application), Volume and Value Data
2.1.3 Product
2.1.3.1 China Wind-Assisted Propulsion Market (by Technology), Volume and Value Data
2.1.3.2 China Wind-Assisted Propulsion Market (by Installation Type), Volume and Value Data
2.1.3.3 China Wind-Assisted Propulsion Market (by Vessel Type), Volume and Value Data
2.2 Asia-Pacific and Japan
2.2.1 Market
2.2.1.1 Key Producers and Suppliers in Asia-Pacific and Japan
2.2.1.2 Business Drivers
2.2.1.3 Business Challenges
2.2.2 Application
2.2.2.1 Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Application), Volume and Value Data
2.2.3 Product
2.2.3.1 Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Technology), Volume and Value Data
2.2.3.2 Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Installation Type), Volume and Value Data
2.2.3.3 Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Vessel Type), Volume and Value Data
2.2.4 Asia-Pacific and Japan (by Country)
2.2.4.1 Japan
2.2.4.1.1 Market
2.2.4.1.2 Application
2.2.4.1.2.1 Japan Wind-Assisted Propulsion Market (by Application), Volume and Value Data
2.2.4.1.3 Product
2.2.4.1.3.1 Japan Wind-Assisted Propulsion Market (by Technology), Volume and Value Data
2.2.4.1.3.2 Japan Wind-assisted Propulsion Market (by Installation Type), Volume and Value Data
2.2.4.1.3.3 Japan Wind-Assisted Propulsion Market (by Vessel Type), Volume and Value Data
2.2.4.2 South Korea
2.2.4.2.1 Market
2.2.4.2.2 Application
2.2.4.2.2.1 South Korea Wind-Assisted Propulsion Market (by Application), Volume and Value Data
2.2.4.2.3 Product
2.2.4.2.3.1 South Korea Wind-Assisted Propulsion Market (by Technology), Volume and Value Data
2.2.4.2.3.2 South Korea Wind-Assisted Propulsion Market (by Installation Type), Volume and Value Data
2.2.4.2.3.3 South Korea Wind-Assisted Propulsion Market (by Vessel Type), Volume and Value Data
2.2.4.3 Singapore
2.2.4.3.1 Market
2.2.4.3.2 Application
2.2.4.3.2.1 Singapore Wind-Assisted Propulsion Market (by Application), Volume and Value Data
2.2.4.3.3 Product
2.2.4.3.3.1 Singapore Wind-Assisted Propulsion Market (by Technology), Volume and Value Data
2.2.4.3.3.2 Singapore Wind-Assisted Propulsion Market (by Installation Type), Volume and Value Data
2.2.4.3.3.3 Singapore Wind-Assisted Propulsion Market (by Vessel Type), Volume and Value Data
2.2.4.4 Rest-of-Asia-Pacific and Japan
2.2.4.4.1 Market
2.2.4.4.2 Application
2.2.4.4.2.1 Rest-of-Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Application), Volume and Value Data
2.2.4.4.3 Product
2.2.4.4.3.1 Rest-of-Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Technology), Volume and Value Data
2.2.4.4.3.2 Rest-of-Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Installation Type), Volume and Value Data
2.2.4.4.3.3 Rest-of-Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Vessel Type), Volume and Value Data
3.1 Competitive Benchmarking
3.1.1 Competitive Position Matrix
3.1.2 Product Matrix of Key Companies (by Technology)
3.1.3 Market Share Analysis of Key Companies, 2022
3.2 Company Profiles
3.2.1 Eco Marine Power Co. Ltd.
3.2.1.1 Company Overview
3.2.1.1.1 Role of Eco Marine Power Co. Ltd. in the Wind-Assisted Propulsion Market
3.2.1.1.2 Product Portfolio
3.2.1.2 Business Strategies
3.2.1.2.1 Market Developments and Product Developments
3.2.1.3 Corporate Strategies
3.2.1.3.1 Mergers and Acquisitions, Collaborations, Partnerships, and Joint Ventures
3.2.1.4 Analyst View
3.2.2 Mitsui O.S.K. Lines
3.2.2.1 Company Overview
3.2.2.1.1 Role of Mitsui O.S.K. Lines in the Wind-Assisted Propulsion Market
3.2.2.1.2 Product Portfolio
3.2.2.2 Analyst View
4.1 Primary Data Sources
4.2 BIS Data Sources
4.2.1 Research Methodology
4.2.2 Factors for Data Prediction and Modelling
4.3 Assumptions and Limitations
Table 1: Consortiums and Associations
Table 2: Regulatory/Certification Bodies
Table 3: List of Government Programs for the Wind-Assisted Propulsion Market
Table 4: List of Programs by Research Institutions and Universities
Table 5: Key Product and Market Developments
Table 6: Key Mergers and Acquisitions, Partnerships, and Joint Ventures
Table 7: Wind-Assisted Propulsion Market (by Region), Units Installed, 2022-2032
Table 8: Wind-Assisted Propulsion Market (by Region), $Million, 2022-2032
Table 9: China Wind-Assisted Propulsion Market (by Application), Units Installed, 2022-2032
Table 10: China Wind-Assisted Propulsion Market (by Application), $Million, 2022-2032
Table 11: China Wind-Assisted Propulsion Market (by Technology), Units Installed, 2022-2032
Table 12: China Wind-Assisted Propulsion Market (by Technology), $Million, 2022-2032
Table 13: China Wind-Assisted Propulsion Market (by Installation Type), Units Installed, 2022-2032
Table 14: China Wind-Assisted Propulsion Market (by Installation Type), $Million, 2022-2032
Table 15: China Wind-Assisted Propulsion Market (by Vessel Type), Units Installed, 2022-2032
Table 16: China Wind-Assisted Propulsion Market (by Vessel Type), $Million, 2022-2032
Table 17: Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Application), Units Installed, 2022-2032
Table 18: Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Application), $Million, 2022-2032
Table 19: Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Technology), Units Installed, 2022-2032
Table 20: Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Technology), $Million, 2022-2032
Table 21: Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Installation Type), Units Installed, 2022-2032
Table 22: Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Installation Type), $Million, 2022-2032
Table 23: Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Vessel Type), Units Installed, 2022-2032
Table 24: Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Vessel Type), $Million, 2022-2032
Table 25: Japan Wind-Assisted Propulsion Market (by Application), Units Installed, 2022-2032
Table 26: Japan Wind-Assisted Propulsion Market (by Application), $Million, 2022-2032
Table 27: Japan Wind-Assisted Propulsion Market (by Technology), Units Installed, 2022-2032
Table 28: Japan Wind-Assisted Propulsion Market (by Technology), $Million, 2022-2032
Table 29: Japan Wind-Assisted Propulsion Market (by Installation Type), Units Installed, 2022-2032
Table 30: Japan Wind-Assisted Propulsion Market (by Installation Type), $Million, 2022-2032
Table 31: Japan Wind-Assisted Propulsion Market (by Vessel Type), Units Installed, 2022-2032
Table 32: Japan Wind-Assisted Propulsion Market (by Vessel Type), $Million, 2022-2032
Table 33: South Korea Wind-Assisted Propulsion Market (by Application), Units Installed, 2022-2032
Table 34: South Korea Wind-Assisted Propulsion Market (by Application), $Million, 2022-2032
Table 35: South Korea Wind-Assisted Propulsion Market (by Technology), Units Installed, 2022-2032
Table 36: South Korea Wind-Assisted Propulsion Market (by Technology), $Million, 2022-2032
Table 37: South Korea Wind-Assisted Propulsion Market (by Installation Type), Units Installed, 2022-2032
Table 38: South Korea Wind-Assisted Propulsion Market (by Installation Type), $Million, 2022-2032
Table 39: South Korea Wind-Assisted Propulsion Market (by Vessel Type), Units Installed, 2022-2032
Table 40: South Korea Wind-Assisted Propulsion Market (by Vessel Type), $Million, 2022-2032
Table 41: Singapore Wind-Assisted Propulsion Market (by Application), Units Installed, 2022-2032
Table 42: Singapore Wind-Assisted Propulsion Market (by Application), $Million, 2022-2032
Table 43: Singapore Wind-Assisted Propulsion Market (by Technology), Units Installed, 2022-2032
Table 44: Singapore Wind-Assisted Propulsion Market (by Technology), $Million, 2022-2032
Table 45: Singapore Wind-Assisted Propulsion Market (by Installation Type), Units Installed, 2022-2032
Table 46: Singapore Wind-Assisted Propulsion Market (by Installation Type), $Million, 2022-2032
Table 47: Singapore Wind-Assisted Propulsion Market (by Vessel Type), Units Installed, 2022-2032
Table 48: Singapore Wind-Assisted Propulsion Market (by Vessel Type), $Million, 2022-2032
Table 49: Rest-of-Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Application), Units Installed, 2022-2032
Table 50: Rest-of-Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Application), $Million, 2022-2032
Table 51: Rest-of-Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Technology), Units Installed, 2022-2032
Table 52: Rest-of-Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Technology), $Million, 2022-2032
Table 53: Rest-of-Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Installation Type), Units Installed, 2022-2032
Table 54: Rest-of-Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Installation Type), $Million, 2022-2032
Table 55: Rest-of-Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Vessel Type), Units Installed, 2022-2032
Table 56: Rest-of-Asia-Pacific and Japan Wind-Assisted Propulsion Market (by Vessel Type), $Million, 2022-2032
Table 57: Product Matrix of Key Companies (by Technology)
Table 58: Market Shares of Key Companies, 2022
Figure 1: Asia-Pacific Wind-Assisted Propulsion Market, $Million, 2022, 2023, and 2032
Figure 2: Asia-Pacific Wind-Assisted Propulsion Market (by Application), $Million, 2027 and 2032
Figure 3: Asia-Pacific Wind-Assisted Propulsion Market (by Technology), $Million, 2024 and 2032
Figure 4: Asia-Pacific Wind-Assisted Propulsion Market (by Installation Type), $Million, 2023 and 2032
Figure 5: Asia-Pacific Wind-Assisted Propulsion Market (by Vessel Type), $Million, 2023 and 2032
Figure 6: Wind-Assisted Propulsion Market (by Region), $Million, 2024 and 2032
Figure 7: Supply Chain Analysis of the Wind-Assisted Propulsion Market
Figure 8: Wind Propulsion Savings with Increased Fuel Prices
Figure 9: Sales in Ocean-Based Industries, 2018
Figure 10: Research Methodology
Figure 11: Top-Down and Bottom-Up Approach
Figure 12: Wind-Assisted Propulsion Market: Influencing Factors
Figure 13: Assumptions and Limitations
Asia-Pacific Wind-Assisted Propulsion Market Report Coverage
|
Asia-Pacific Wind-Assisted Propulsion Market |
|||
|
Base Year |
2022 |
Market Size in 2023 |
$17.8 Million |
|
Forecast Period |
2023-2032 |
Value Projection and Estimation by 2032 |
$3,717.0 Million |
|
CAGR During Forecast Period |
81.01% |
|
|
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.
Some of the prominent established names in this market are:
• Eco Marine Power Co. Ltd.
• Mitsui O.S.K. Lines
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different technologies, installation types, and vessel types involved in the wind-assisted propulsion market. The technology segment has been segmented into towing kites, sails (soft-wing sails, hard-wing sails), flettner rotors, suction wings, and others. The installation type segment has been segmented into retrofit and new installation. The vessel type segment has been segmented into wind-assisted motor vessels and purely wind vessels. Moreover, the study provides the reader with a detailed understanding of the Asia-Pacific wind-assisted propulsion market based on application, including cargo ships (tankers, car carriers/ro-ro vessels, container ships, general cargo vessels), passenger ships, fishing vessels, and bulk carriers. The increasing adoption of wind-assisted propulsion in bulk carriers and cargo ships is expected to fuel market growth in the future.
Growth/Marketing Strategy: The wind-assisted propulsion market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been business partnerships to strengthen their position in the Asia-Pacific wind-assisted propulsion market.
Competitive Strategy: Key players in the Asia-Pacific wind-assisted propulsion market analyzed and profiled in the study involve wind-assisted propulsion manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the Asia-Pacific wind-assisted propulsion market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Introduction to Asia-Pacific Wind-Assisted Propulsion Market
The Asia-Pacific wind-assisted propulsion market (excluding China) is projected to reach $3,717.0 million by 2032 from $17.8 million in 2023, growing at a CAGR of 81.01% during the forecast period 2023-2032. The market is experiencing significant growth due to the increasing imperative to reduce greenhouse gas emissions in maritime transportation. With environmental concerns at the forefront, there's a growing demand for sustainable solutions like wind-assisted propulsion. Furthermore, the rise in sea trade amplifies the need for efficient and eco-friendly propulsion systems, further driving the adoption of wind-assisted technologies in the maritime industry.
Market Introduction
The Asia-Pacific (APAC) Wind-Assisted Propulsion market is witnessing substantial growth driven by the region's burgeoning maritime sector and increasing focus on sustainability. With the APAC region being a hub for international trade and shipping, there's a growing need to reduce greenhouse gas emissions in maritime transportation. This drive towards sustainability is fueling the demand for wind-assisted propulsion technologies. Moreover, rising fuel costs and stringent environmental regulations are incentivizing maritime operators in APAC countries to invest in wind-assisted systems to lower operational costs and minimize their carbon footprint. Countries like China, Japan, and South Korea are emerging as key players in the adoption of wind-assisted propulsion solutions, supported by government initiatives promoting green shipping practices. As the APAC region continues to prioritize environmental conservation and sustainable development, the Wind-Assisted Propulsion market is poised for significant expansion and innovation in the coming years.
Market Segmentation:
Segmentation 1: by Application
• Cargo Ships
o Tankers
o Car Carriers/Ro-Ro Vessels
o Container Ships
o General Cargo Vessels
• Passenger Ships
• Fishing Vessels
• Bulk Carriers
Segmentation 2: by Technology
• Towing Kites
• Sails
o Soft-Wing Sails
o Hard-Wing Sails
• Flettner Rotors
• Suction Wings
• Others
Segmentation 3: by Installation Type
• Retrofit
• New Installation
Segmentation 4: by Vessel Type
• Wind-Assisted Motor Vessels
• Purely Wind Vessels
Segmentation 5: by Country
• Japan
• South Korea
• Singapore
• Rest-of-Asia-Pacific and Japan
Asia-Pacific Wind-Assisted Propulsion Market
Focus on Application, Technology, Installation Type, Vessel Type, and Country - Analysis and Forecast, 2023-2032
Some Faq's
Frequently Asked Questions
The Asia-Pacific wind-assisted propulsion market (excluding China) is projected to reach $3,717.0 million by 2032 from $17.8 million in 2023, growing at a CAGR of 81.01% during the forecast period 2023-2032.
The companies that manufacture wind-assisted propulsion systems, shipping companies, technology providers, research institutions involved in wind-assisted propulsion should buy this report.
Wind-assisted propulsion helps reduce greenhouse gas emissions in the maritime industry by utilizing renewable wind energy as a supplementary power source. By harnessing wind power to propel ships, operators can decrease their reliance on fossil fuels, leading to lower emissions of carbon dioxide and other pollutants associated with conventional propulsion systems.
There are several types of wind-assisted propulsion technologies, including sails, kites, rotors, and Flettner rotors. These technologies vary in design and functionality but share the common goal of harnessing wind energy to improve vessel efficiency and reduce fuel consumption.
While wind-assisted propulsion has historically been less common than traditional propulsion methods, there is a growing interest in and adoption of these technologies within the maritime industry. Many shipping companies and vessel operators are exploring wind-assisted solutions as part of their efforts to reduce fuel costs, comply with environmental regulations, and enhance sustainability.
Similar Product
You may also like