Marine Alternators and Motors Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Marine Alternators and Motors Market Outlook - 2027

Marine alternators are used in modern marine transportation vessels and cargo ships and marine tourism for boats, cruise, ferries, and more to convert the mechanical energy into electrical energy. These devices are used for battery charging that provides powers the electrical system whenever the engine is in working condition. The converted electrical energy can be used for under the deck and over the deck applications. These alternators and motors employ a stationary armature with a rotating magnetic field to minimize the costs and allowing a simple operation to the operators. Marine alternators and motors are majorly adopted for Military and Civil applications.

COVID-19 Scenario analysis:

• COVID-19 pandemic has shut-down the production of various products in the marine alternators and motors industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of marine alternators and motors market significantly from last few months, as is likely to continue during 2020.
• COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year. 
• The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
• Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Drivers, restraints, and opportunities

Growth in marine tourism due to the changing lifestyles of people is a major factor that is expected to drive the growth of the marine alternators and motors market. Besides, rapid globalization among different countries has resulted in growth in trade among countries that can create demand for cargo ships and vessels. This is another key factor that can potentially fuel the growth of the marine alternators and motors market. Moreover, the growing demand for military and civil applications can boost the growth of the marine alternators and motors market. However, one of the factors that can hinder the growth of the seawater pumps market is the high product and maintenance costs. On the contrary, investments for developing the infrastructure for marine vehicles to encourage marine trade are expected to provide lucrative growth opportunities for the marine alternators and motors market.

Trends in the marine alternators and motors market

New technology to flourish the market

Manufacturers in the marine alternators and motors market have started focusing on customized products and new technological innovations. The new upgraded products are designed to make the alternators multi-functional, energy-efficient, and easy to operate. For instance, in 2019, M.G. Energy Systems B.V., a European company launched its new SmartConnect Technology. The new SmartConnect batteries are one of the most intelligent Lithium-Ion batteries. The technology is based on proven high energy batteries in combination with Battery Management System (BMS) which is safe and reliable. Every SmartConnect battery module works independently and connecting multiple SmartConnect batteries in parallel creates a redundant system. Also, this technology offers advantages such as easy to install, redundancy, plug-and-play, space, and weight-saving, hot-swap, and auto-detect. The emergence of such new products with innovative technology and innovative features can provide momentum for the increase in demand for the seawater pumps market over the forecast period. 

A rise in need for desalination plants

As the population across the world is increasing every day, the demand for treated water, which is a basic necessity, is also increasing. Consequently, the need for desalination plants has also been booming lately. Desalination is a process of removing salts and mineral components from saline water. Marine alternators and motors have widespread applications in desalination plants for sucking and pumping out saltwater from the sea. There is an increase in the number of desalination plants in countries like Africa and other Middle Eastern countries, which is creating great growth opportunities for the seawater pumps market. Additionally, a surge in seaborne trade is also expected to drive the growth of the shipbuilding industry, which will increase demand for the marine alternators and motors market.

Key benefits of the report:

• This study represents the analytical representation of the global marine alternators and motors market combined with the ongoing trends and future predictions to determine investment opportunities.
• The present market is thoroughly analyzed to enlighten the marine alternators and motors market growth.
• The report gives information regarding the important drivers, restraints, and opportunities provided with an in-depth analysis of the global marine alternators and motors market.
• Segmentation details of the global marine alternators and motors market.
• The report gives a comprehensive global marine alternators and motors market analysis based on competitiveness and how the performance of the competitors will take shape in the coming years. 

 Marine Alternators and Motors Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights