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In 2022, the size of the electric ships market was worth USD 7064.28 million. The market for electric ships is expected to grow at a rate of 11.4% per year, rising from USD 7805.79 million in 2023 to USD 18998.48 million by 2030. Some of the main things that are driving the rise of the electric ships market are more trade that happens at sea, more tourism that happens at sea, and the development of lithium-ion batteries.
One of the main things that drives the market for electric ships is carbon pollution. About 2% to 3% of all greenhouse gas emissions come from the shipping business. This number is likely to rise as global trade and shipping volumes continue to rise. Carbon emissions cause climate change, which can have big effects on landscapes, economies, and societies all over the world. To deal with this problem, governments all over the world have put in place rules and goals to get the shipping business to reduce its carbon emissions. Companies that move goods will have to spend money on low-carbon technologies, like electric ships. When these ships are in use, they may or may not give off greenhouse gases, based on what kind of electricity is used to charge the batteries. Because of this, they are a good choice for businesses that want to lower their carbon footprint and follow environmental rules.
Climate change could also be slowed down by electric ships. Besides lowering carbon emissions, they can also help shipping companies adapt to new rules and stay ahead of rivals in a market that cares more and more about the environment. Companies can gain a competitive edge in the market by investing in electric ships and becoming stars in environmentally friendly shipping.
Concerns about the climate, saving energy, and low costs are the main reasons why electric ships are becoming more popular. More people want eco-friendly ways to get around because of environmental problems caused by growing worries about climate change. Unlike traditional ships that use fossil fuels, electric ships don't release any climate gases, making them the best alternative. High prices for fossil fuels, stricter rules on population growth, and other factors are all making more people want to use electric boats. Shipping companies can cut down on carbon, costs, and pollution thanks to better battery technology. Governments are also enforcing rules to reduce marine insurance costs and air pollution in port cities, which is another reason why electric ships are becoming more popular. The ships give us a chance to rethink how we move people and goods within and between countries. For example, in October 2022, Amasus made a deal with Handelskade Shipsales in Denmark and Boğazici Shipyard in Turkey to build a group of four multipurpose (MPP) shortsea cargo ships.
The main thing stopping the use of fully electric boats is the current state of battery technology. It takes a lot of energy for ships to sail even short distances. The energy density and volume of today's batteries are not enough to power large ships. In the same way, ship owners have to pay a lot of money for capital because there isn't enough charging facilities and the cost of storing energy is high because batteries are still not very powerful. Because of this, these things are likely to slow the market's growth. Another problem is that electric ships are very expensive to buy at first because they need expensive batteries and electric power systems. There are also problems with the systems that need to be fixed. For example, charging stations and other infrastructure for electric boats are still not widely available, which makes it hard to use them on a big scale.
An electric ship is a ship that moves mostly with the help of an electric drive system. Electric ships are boats that transport people and goods by water using electricity instead of traditional fossil fuel engines like gas or steam. Their propulsion systems, extra machinery, and aboard systems are all powered by electricity. More people are worried about climate change and smog, which has increased the need for cleaner and more environmentally friendly ways to get around. Electric-powered boats are better for the earth because they use less fuel and put out less oil. Also, because electrical propulsion systems are small, they take up less room, which lets the ship carry more cargo. Electric ships also have lower life cycle costs because they use less fuel and require less upkeep.
Report Coverage
Global Electric Ships research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Electric Ships report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Electric Ships competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Electric Ships market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Electric Ships market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Electric Ships market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
AKASOL AG, Anglo Belgian Corporation NV, ABB, Echandia Marine AB, Siemens, BAE Systems, Corvus Energy, General Dynamics Electric Boat, General Electric, KONGSBERG MARITIME, Leclanche, MAN Energy Solutions, Norwegian Electric Systems, ECO Marine Power, EST-Floattech, Schottel, VARD, Wärtsilä, Visedo, and Saft (Total).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Electric Ships market based on the below-mentioned segments:
Global Electric Ships Market, By Type
Fully Electric
Lithium-Ion Battery
Lead-Acid Battery
Electro-Solar
Fuel Cells
Hybrid
Diesel & Battery-Driven
LPG/LNG & Battery-Driven
Global Electric Ships market, By System
Energy Storage
Power Conversion
Power Generation
Power Distribution
Global Electric Ships Market, By System
Energy Storage Systems
Power Generation
Power Conversion
Power Distribution Systems
Global Electric Ships market, Regional Analysis
One of the main things that drives the market for electric ships is carbon pollution. About 2% to 3% of all greenhouse gas emissions come from the shipping business. This number is likely to rise as global trade and shipping volumes continue to rise. Carbon emissions cause climate change, which can have big effects on landscapes, economies, and societies all over the world. To deal with this problem, governments all over the world have put in place rules and goals to get the shipping business to reduce its carbon emissions. Companies that move goods will have to spend money on low-carbon technologies, like electric ships. When these ships are in use, they may or may not give off greenhouse gases, based on what kind of electricity is used to charge the batteries. Because of this, they are a good choice for businesses that want to lower their carbon footprint and follow environmental rules.
Climate change could also be slowed down by electric ships. Besides lowering carbon emissions, they can also help shipping companies adapt to new rules and stay ahead of rivals in a market that cares more and more about the environment. Companies can gain a competitive edge in the market by investing in electric ships and becoming stars in environmentally friendly shipping.
Concerns about the climate, saving energy, and low costs are the main reasons why electric ships are becoming more popular. More people want eco-friendly ways to get around because of environmental problems caused by growing worries about climate change. Unlike traditional ships that use fossil fuels, electric ships don't release any climate gases, making them the best alternative. High prices for fossil fuels, stricter rules on population growth, and other factors are all making more people want to use electric boats. Shipping companies can cut down on carbon, costs, and pollution thanks to better battery technology. Governments are also enforcing rules to reduce marine insurance costs and air pollution in port cities, which is another reason why electric ships are becoming more popular. The ships give us a chance to rethink how we move people and goods within and between countries. For example, in October 2022, Amasus made a deal with Handelskade Shipsales in Denmark and Boğazici Shipyard in Turkey to build a group of four multipurpose (MPP) shortsea cargo ships.
The main thing stopping the use of fully electric boats is the current state of battery technology. It takes a lot of energy for ships to sail even short distances. The energy density and volume of today's batteries are not enough to power large ships. In the same way, ship owners have to pay a lot of money for capital because there isn't enough charging facilities and the cost of storing energy is high because batteries are still not very powerful. Because of this, these things are likely to slow the market's growth. Another problem is that electric ships are very expensive to buy at first because they need expensive batteries and electric power systems. There are also problems with the systems that need to be fixed. For example, charging stations and other infrastructure for electric boats are still not widely available, which makes it hard to use them on a big scale.
An electric ship is a ship that moves mostly with the help of an electric drive system. Electric ships are boats that transport people and goods by water using electricity instead of traditional fossil fuel engines like gas or steam. Their propulsion systems, extra machinery, and aboard systems are all powered by electricity. More people are worried about climate change and smog, which has increased the need for cleaner and more environmentally friendly ways to get around. Electric-powered boats are better for the earth because they use less fuel and put out less oil. Also, because electrical propulsion systems are small, they take up less room, which lets the ship carry more cargo. Electric ships also have lower life cycle costs because they use less fuel and require less upkeep.
Report Coverage
Global Electric Ships research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Electric Ships report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Electric Ships competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Electric Ships market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | AKASOL AG, Anglo Belgian Corporation NV, ABB, Echandia Marine AB, Siemens, BAE Systems, Corvus Energy, General Dynamics Electric Boat, General Electric, KONGSBERG MARITIME, Leclanche, MAN Energy Solutions, Norwegian Electric Systems, ECO Marine Power, EST-Floattech, Schottel, VARD, Wärtsilä, Visedo, and Saft (Total). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Electric Ships Market from 2021 to 2030.
- Market Forecast for Electric Ships Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Electric Ships competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Electric Ships
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Electric Ships market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Electric Ships market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
AKASOL AG, Anglo Belgian Corporation NV, ABB, Echandia Marine AB, Siemens, BAE Systems, Corvus Energy, General Dynamics Electric Boat, General Electric, KONGSBERG MARITIME, Leclanche, MAN Energy Solutions, Norwegian Electric Systems, ECO Marine Power, EST-Floattech, Schottel, VARD, Wärtsilä, Visedo, and Saft (Total).
Primary Target Market
- Market Players of Electric Ships
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Electric Ships market based on the below-mentioned segments:
Global Electric Ships Market, By Type
Fully Electric
Lithium-Ion Battery
Lead-Acid Battery
Electro-Solar
Fuel Cells
Hybrid
Diesel & Battery-Driven
LPG/LNG & Battery-Driven
Global Electric Ships market, By System
Energy Storage
Power Conversion
Power Generation
Power Distribution
Global Electric Ships Market, By System
Energy Storage Systems
Power Generation
Power Conversion
Power Distribution Systems
Global Electric Ships market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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