Report Code: A08502 | Nov 2023 | Pages: NA | ||
Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Hydrogen-powered Yacht Market
Request Now !Hydrogen-powered yacht is a hydrogen-fueled ship, power-assisted by an electric motor that gets its electricity from a fuel cell or uses hydrogen fuel in an internal combustion engine. Companies mainly offer luxurious designs for the higher class people across the globe. Such innovations carried out across the globe is expected to drive the yacht manufacturing market eventually leading to huge investments so as to gain long term profit. Hence, under these positive situations, the market is expected to witness significant growth during the forecast period.
COVID-19 scenario analysis:
Growth in emphasis on decarbonizing energy end-use, rise in expatriate population and tourism, and increase in demand for automobiles are expected to spur the demand for hydrogen-powered yacht over the forecast period. Moreover, the high energy consumption of hydrogen generation technologies is anticipated to hamper the growth of the market. Furthermore, increase in safety measures of hydrogen technology is expected to offer lucrative opportunities for the market growth.
The hydrogen-powered yacht market trends are as follows:
Decarbonization is the decrement of the average carbon intensity of primary energy over time. Decarbonization of the global energy system is considered to be the biggest challenge faced at present, which has raised concerns for green energy technology such as hydrogen and related products. Hydrogen is a clean energy fuel that is expected to reduce the dependence on oil in the coming future. In addition, it reduces the emission of greenhouse gases and other pollutants, which is estimated to further drive the hydrogen-powered yacht market over the forecast period.
Population in urban areas is increasing due to growing migration across countries as well as from local rural areas. Increase in migration of people in search of jobs has augmented the expatriate population, which has heavily amplified the demand for commercial and residential construction. The tourism industry has been booming due to high investments in improving infrastructure by many developed countries. This has led to the construction of new hotels and unique sights to attract more tourists. Therefore, these factors are expected to increase the demand for hydrogen-powered yacht.
Key benefits of the report:
Questions answered in the hydrogen-powered yacht market research report:
Hydrogen-Powered Yacht Market Report Highlights
Aspects | Details |
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By Technology |
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By Application |
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By System |
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By Region |
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Key Market Players | L3 ASV, Rolls-Royce, Marine Technologies LLC, ABB Ltd., Wartsila, Honeywell International, Northrop Grumman, Kongsberg Gruppen, Ulstein Group ASA, Mitsui O.S.K. Lines |
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