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MARKET FUNDAMENTALS
MARINE will move with unprecedented speed towards decarbonisation
Policies & regulations
- IMO target
- Access to capital
- Cost of carbon
- Demand for green sea transport
Technology
- Carbon neutral and zero carbon fuels
- Carbon fuels for many years, still
- Abatement technologies
- Battery systems, hybrids & energy saving devices
- Fuel efficiency & flexibility
Connectivity & data
- Vessels as data pools
- Optimisation solutions
- Performance-basedagreements
- Cyber security
- Autonomous operations
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ENERGY is moving towards a 100% renewables future
Policies & regulations
EU: Carbon neutral by 2050
USA: carbon free electricity production by 2035, net zero emissions by 2050
China: Carbon neutral by 2060
Technology
Wind and solar growing rapidly Intermittent sources requiring
balancing power
Sustainable fuels for thermal balancing
Digitalisation Cyber security
Growing ENERGY demand
By 2050, electricity generation expected to grow by 3X, renewables by 8X 1)
By 2030, balancing power market to grow by 10X 2)
Gradual replacement of coal
Power systems increasingly complex
1) IEA World Energy Outlook 2021 (Net Zero Emissions Scenario)
2) Bloomberg New Energy Outlook 2020, Wärtsilä estimates
The Wärtsilä Way sets the scene for profitable growth
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OUR VALUE CREATION POTENTIAL IS BASED ON TWO STRATEGIC THEMES
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TRANSFORM
Decarbonisation creates new business opportunities
PERFORM
Leverage market recovery and growth
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TRANSFORM
Decarbonisation creates new business opportunities
- Maritime is going through an unprecedented rate of change, which is accelerated by regulations and the demand for green transport.
- Also, the energy sector is undergoing a massive transformation as decarbonisation and renewables are fundamentally going to change the way energy is generated.
1 Major test programme launched, 100% ammonia concept in 2023, 100% hydrogen in 2025
3 First Wärtsilä GridSolv Quantum
delivered in the USA
4 First real-life digital port call with Wärtsilä Navi-Port
6 Hitting methanol milestone with first newbuild engine order
7 Ensuring optimal performance and minimal carbon footprint for world's most environmentally friendly ferry
- We are set for performance and have significant value creation potential to drive this transformation as a technology leader.
2 Extensive service network, positioned for growth both in transactional services and performance-based agreements
5 Wärtsilä selected to supply world's largest bioLNG production plant
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Wärtsilä Oyj published this content on 23 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 August 2022 10:35:05 UTC.