Electric Ship Market by Type (Fully Electric, Hybrid), System, Mode of Operation (Manned, Remotely Operated, Autonomous), Ship Type (Commercial, Defense), Power, Range, Tonnage, End Use (Linefit and Retrofit), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Electric Ships Market Size is projected to grow at a USD of 15.7 billion by 2020 at a CAGR of 10.8% from 2021 to 2028.
An electric boat is a form of electric vehicle designed to carry off marine operations by propelling the boat through batteries rather than by fuel. Batteries used in electric boats are similar to the batteries used in electric vehicles. Electric ships are mainly ferries and small passenger ships on inland waterways that sail completely with electricity. They sail only short distances and dock often.
International Maritime Organization’s ruling on reducing sulphur emissions and worldwide adoption of fully electric passenger vessels is the factor that has supported long-term expansion for Electric Ships Market.
The COVID-19 pandemic hampered the growth of the electric boat and ship market due to the shutdown of manufacturing facilities and trade restrictions imposed worldwide.
Europe is projected to grow the highest CAGR during the forecast period, due to the increase in demand for electric ships for fully electric passenger vessels, tugs, yachts, and cruise vessels, among others. Countries such as Norway, Finland, and Denmark have actively started replacing conventional passenger ferries with fully electric passenger ferries. Major developments in autonomous electric vessels that use fuel cells and remotely controlled electric vessels are also driving the market in Europe to grow.
Insights are provided for each region and major countries within the regions
Report Feature |
Descriptions |
---|---|
Growth Rate |
CAGR of 10.8% during the forecasting period, 2021-2028 |
Historical Data |
2018-2019 |
Forecast Years |
2021-2028 |
Base Year |
2020 |
Units Considered |
Revenue in USD billion and CAGR from 2021 to 2028 |
Report Segmentation |
type, system, mode of operation, ship type, power, range, tonnage, end use and region. |
Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East and Africa |
Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
Companies Profiled |
ABB Limited, Siemens AG, Kongsberg Gruppen, General Dynamics Electric Boat and Corvus energy, Echandia Marine AB, General Dynamics Electric Boat, Anglo Belgian Corporation (Abc) Nv, Schottel Gmbh, Visedo (Danfoss), Eco Marine Power Co Ltd., Akasol Ag, Est Floattech, Fjellstrand |
Available Customization |
In addition to the market data for Electric Ships Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |
Electric Ships Market is segmented into type, system, mode of operation, ship type, power, range, tonnage, end use and region.