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Electric Ships Global Market Report 2022

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    Report

  • 175 Pages
  • August 2022
  • Region: Global
  • The Business Research Company
  • ID: 5639737
Major players in the electric ship's market are ABB Ltd, Wartsila, Kongsberg, Norwegian Electric Systems AS, Corvus Energy, General Dynamics Electric Boat, MAN Energy Solutions SE, Leclanche SA, Siemens AG, General Electric Company, Bureau Veritas, Canadian Electric Boat Company, Electrovaya Inc., Triton Submarines, Duffy Electric Boats, and Akasol AG.

The global electric ships market is expected to grow from $6.39 billion in 2021 to $7.12 billion in 2022 at a compound annual growth rate (CAGR) of 11.4%. The electric ships market is expected to grow to $11.06 billion in 2026 at a CAGR of 11.6%.

The electric ship market consists of sales of the electric ships by entities (organizations, sole traders, and partnerships) which refer to a ship that runs on a battery. Ships that run on electricity instead of traditional gasoline are known as electric ships. These ships abide by all environmental rules and do not endanger marine life. Electric propulsion systems are an environmentally friendly alternative to traditional fuel in inland navigation and large commerce ships.

The main types of electric ships are fully electric, and hybrid. A fully electric ship operates on electricity. Electrical power is used to propel propeller blades in electric propulsion systems. Electric propulsion has gained traction in a wide range of maritime applications across Europe and Japan in recent years, from commercial and research ships to fishing vessels. The mode of operation for these ships is manned, remotely operated, autonomous that using systems such as energy storage systems, power conversion, power generation, and power distribution. It requires power of less than 75kw, 75 to 150kw, 151 to 745kw, 746 to 7,560kw, Greater than 7,560kw that can cover a distance of less than 50km, 50 to 100km, 101 to 1000km, greater than 1,000km.

Western Europe was the largest region in the electric ship market in 2021. The regions covered in the electric ship market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The electric ships market research report is one of a series of new reports that provides electric ships market statistics, including electric ships industry global market size, regional shares, competitors with a electric ships market share, detailed electric ships market segments, market trends and opportunities, and any further data you may need to thrive in the electric ships industry. This electric ships market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The rise in the adoption of hybrid and electric propulsion for retrofitting ships is anticipated to drive the growth of the electric ship market. An eco-friendly ship's electric propulsion system is a hybrid system that uses dual-fuel engines, batteries, and fuel cells as multiple power sources. However, technologies such as fuel storage facilities, gas vaporizers, and battery thermal runaway avoidance must all be developed concurrently to apply these power sources to ships. For instance, in February 2021, the 2030 Green Ship-K Promotion Strategy, which is a key component of South Korea's aims to become carbon-neutral by 2050, focuses on the advancement and widespread use of low-carbon ship technologies, such as hydrogen fuel cells and propulsion systems. The initiative's goal is to reduce the country's shipping greenhouse gas emissions by 40% in the next 25 years, and 70% by 2050. Furthermore, Kawasaki has received its first order for large-capacity battery propulsion systems for coastal ships. Large-capacity lithium-ion (Li-ion) marine batteries, a propulsion control system, and an electric power management system are all part of the battery propulsion system. In addition, in February 2019, Wartsila signed a contract for a hybrid retrofit installation with Hagland Maritime AS, an international shipping firm. The ship's environmental performance will be greatly improved with the installation of a Wartsila battery hybrid propulsion technology, which will reduce pollutants, fuel consumption, and noise.

Technological advancements are shaping the electric ship market. The welding consumables market is increasing its demand by introducing and applying new technologies and their updated software for the industries. The automotive industry is increasingly focusing on integrating smarter and safer safety systems into vehicles for better safety in different terrains and conditions. For instance, in November 2021, The Yara Birkeland, the world's first electric and self-propelled container ship with zero emissions, had its first journey in the Oslo fjord. Yara Birkeland is a multi-actor project in which KONGSBERG is in charge of the development and delivery of all newly created technologies on the ship. Massterlys' monitoring and operations center in Horten will be in charge of the ship. KONGSBERG and Wilhelmsen have teamed up to form Massterly.

In October 2021, Groupe Beneteau, a French company involved in building sailing yachts and motorboats for all types of boating practices, acquired Starfisher, for an undisclosed amount. This acquisition will allow Beneteau to expand its small motorboat production capacity and create a presence in Portugal, in addition to the three other plants dedicated to these markets in Poland and the United States. Starfisher is a Portuguese company that designs and builds two types of motorboats, from 6 to 12 meters in length, pleasure-fishing boats, and recreational cruisers.

The countries covered in the electric ships market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.




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Frequently Asked Questions about the Global Electric Ships Market

What is the estimated value of the Global Electric Ships Market?

The Global Electric Ships Market was estimated to be valued at $7.12 billion in 2022.

What is the growth rate of the Global Electric Ships Market?

The growth rate of the Global Electric Ships Market is 11.6%, with an estimated value of $11.06 billion by 2026.

What is the forecasted size of the Global Electric Ships Market?

The Global Electric Ships Market is estimated to be worth $11.06 billion by 2026.

Who are the key companies in the Global Electric Ships Market?

Key companies in the Global Electric Ships Market include ABB Ltd, Wartsila, Vard (Finacntieri), Kongsberg, Norwegian Electric Systems AS, Corvus Energy, General Dynamics Electric Boat, MAN Energy Solutions SE and Siemens AG.

Table of Contents

1. Executive Summary2. Electric Ships Market Characteristics3. Electric Ships Market Trends And Strategies4. Impact Of COVID-19 On Electric Ships
5. Electric Ships Market Size And Growth
5.1. Global Electric Ships Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Electric Ships Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Electric Ships Market Segmentation
6.1. Global Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Fully Electric
  • Hybrid
6.2. Global Electric Ships Market, Segmentation By Mode of Operation, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Manned
  • Remotely Operated
  • Autonomous
6.3. Global Electric Ships Market, Segmentation By System, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Energy Storage Systems
  • Power Conversion
  • Power Generation
  • Power Distribution
6.4. Global Electric Ships Market, Segmentation By Power, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Less Than 75KW
  • 75 to 150KW
  • 151 to 745KW
  • 746 to 7,560KW
  • Greater Than 7,560KW
6.5. Global Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Less Than 50Km
  • 50 to 100Km
  • 101 to 1000Km
  • Greater Than 1,000Km
7. Electric Ships Market Regional And Country Analysis
7.1. Global Electric Ships Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Electric Ships Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
8. Asia-Pacific Electric Ships Market
8.1. Asia-Pacific Electric Ships Market Overview
  • Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
8.3. Asia-Pacific Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
9. China Electric Ships Market
9.1. China Electric Ships Market Overview
9.2. China Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion
9.3. China Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion
10. India Electric Ships Market
10.1. India Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
10.2. India Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
11. Japan Electric Ships Market
11.1. Japan Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
11.2. Japan Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
12. Australia Electric Ships Market
12.1. Australia Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
12.2. Australia Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
13. Indonesia Electric Ships Market
13.1. Indonesia Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
13.2. Indonesia Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
14. South Korea Electric Ships Market
14.1. South Korea Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
14.2. South Korea Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
15. Western Europe Electric Ships Market
15.1. Western Europe Electric Ships Market Overview
15.2. Western Europe Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
15.3. Western Europe Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
16. UK Electric Ships Market
16.1. UK Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
16.2. UK Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
17. Germany Electric Ships Market
17.1. Germany Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
17.2. Germany Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
18. France Electric Ships Market
18.1. France Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
18.2. France Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
19. Eastern Europe Electric Ships Market
19.1. Eastern Europe Electric Ships Market Overview
19.2. Eastern Europe Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
19.3. Eastern Europe Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
20. Russia Electric Ships Market
20.1. Russia Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
20.2. Russia Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
21. North America Electric Ships Market
21.1. North America Electric Ships Market Overview
21.2. North America Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
21.3. North America Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
22. USA Electric Ships Market
22.1. USA Electric Ships Market Overview
22.2. USA Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
22.3. USA Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
23. South America Electric Ships Market
23.1. South America Electric Ships Market Overview
23.2. South America Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
23.3. South America Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
24. Brazil Electric Ships Market
24.1. Brazil Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
24.2. Brazil Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
25. Middle East Electric Ships Market
25.1. Middle East Electric Ships Market Overview
25.2. Middle East Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
25.3. Middle East Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
26. Africa Electric Ships Market
26.1. Africa Electric Ships Market Overview
26.2. Africa Electric Ships Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
26.3. Africa Electric Ships Market, Segmentation By Range, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
27. Electric Ships Market Competitive Landscape And Company Profiles
27.1. Electric Ships Market Competitive Landscape
27.2. Electric Ships Market Company Profiles
27.2.1. ABB Ltd
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Wartsila
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Vard (Finacntieri)
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Kongsberg
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Norwegian Electric Systems AS
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Electric Ships Market29. Electric Ships Market Future Outlook and Potential Analysis
30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Research Inquiries
30.4. About the Publisher
30.5. Copyright And Disclaimer

Executive Summary

Electric Ships Global Market Report 2022 provides the strategists, marketers and senior management with the critical information they need to assess the global electric ships market.

This report focuses on electric ships market which is experiencing strong growth. The report gives a guide to the electric ships market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
  • Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market research findings.
  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Description:

Where is the largest and fastest growing market for the electric ships? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Electric Ships market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider electric ships market, and compares it with other markets.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
  • Market segmentations break down market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
  • The electric ships market section of the report gives context. It compares the electric ships market with other segments of the electric ships market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, electric ships indicators comparison.

Scope


Markets Covered:

1) By Type: Fully Electric; Hybrid
2) By Mode of Operation: Manned; Remotely Operated; Autonomous
3) By System: Energy Storage Systems; Power Conversion; Power Generation; Power Distribution
4) By Power: Less Than 75KW; 75 to 150KW; 151 to 745KW; 746 to 7,560KW; Greater Than 7,560KW
5) By Range: Less Than 50Km; 50 to 100Km; 101 to 1000Km; Greater Than 1,000Km

Companies Mentioned: ABB Ltd.; Wartsila; Vard (Finacntieri); Kongsberg; Norwegian Electric Systems AS

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • ABB Ltd
  • Wartsila
  • Vard (Finacntieri)
  • Kongsberg
  • Norwegian Electric Systems AS
  • Corvus Energy
  • General Dynamics Electric Boat
  • MAN Energy Solutions SE
  • Leclanche SA
  • Siemens AG
  • General Electric Company
  • BoeschMotorboote
  • Bureau Veritas
  • Canadian Electric Boat Company
  • Electrovaya Inc.
  • Triton Submarines
  • Duffy Electric Boats
  • Akasol AG;

Methodology

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