Electric Ship
Market by Type, System, Mode of Operation, Ship Type, Power, Range, Tonnage,
End Use, and Region - Global Forecast to 2030
Bharat Book Bureau Provides the Trending Industry Research Report on "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 Region - Global Forecast to 2030" under Heavy Industry Market Research ReportsCategory. The report offers a collection of superior Industry research, Industry analysis, competitive intelligence and Industry reports.
The Electric Ship Market size is projected to grow from USD 4.7 billion in 2021 to USD 16.2 billion by 2030, at a CAGR of 14.9% from 2021 to 2030. The market is driven by various factors, such as rise in conversion of propulsion system in passenger vessel, Increasing sea borne trade across globe and growing maritime tourism industry
With increasing operation in the commercial maritime sector across various countries spread across different region along with the rising demand of commercial vessels will drive the demand for electric ship market. Commercial vessels are turning out to be an integral part of the electric ship industry with countries such as US, China, Norway, Greece and others are investing heavily in operations related to commercial electric shipping industry. Whereas in the commercial marine industry companies such as Wartsila, Kongsberg Gruppen, ABB and others are working on building more efficient propulsion system for commercial vessels in order to increase the operational capacity of different types of commercial vessels
The electric ship market includes major players such as Siemens AG (Germany), General Electric Company (US), ABB (Switzerland), Wartsila (Norway), and Vard (Fincantieri) (Norway). These players have spread their business across various countries includes North America, Europe, Asia Pacific, and Rest of the World. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 has affected electric ship production and services globally in 2020
Fully
electric type is projected to witness a higher CAGR during the forecast period
Based on the type, the fully electric vessels are projected
to grow at the highest CAGR rate for the electric ship market during the
forecast period. Fully electric vessels are much more capable of operating
passenger vessels when compared to other hybrid propulsion system in passenger
vessel, these engines also have a less amount of noise as compared to others,
they are the most suitable engine for short-range operations because of their
lighter weight
The battery
segment is projected to witness the highest CAGR during the forecast period
Based on the Power source, the battery operated vessels are
projected to grow at the highest CAGR rate for the electric ship market during
the forecast period. With the increasing demand for commercial vessels across
regions throughout the industry the demand for battery operated vessels is also
increasing. A battery operated vessel helps in giving a more eco friendly
solution to maritime operations along with more efficiency and reliability
The
500-5000DWT is projected to witness the highest CAGR during the forecast period
Based on the tonnage, the 500-5000DWT is projected to grow at
the highest CAGR for the electric ship market during the forecast period.
Various cargo vessels such as small container vessels, Roll-on, and Roll-off
vessels for wheeled cargo and others are considered under the 500-5000 DWT
category. Container vessels are one of the most used mode of transportation and
one of the most pollution causing vessels. Hence, container vessels were the
very first vessel to get a fully electric set up in order to reduce the marine
pollution. Hence, major companies are trying to find more efficient technology
and power solution in order to develop better solutions for these long range
vessels
Commercial
vessels are projected to witness the highest CAGR during the forecast period
Based on ship type, the commercial vessels segment is
projected to grow at the highest CAGR rate for the electric ship market during
the forecast period. Commercial vessels are as varied as the jobs they are
required to do. Different type of commercial vessels according to the purpose
they serve are passenger vessels, cargo vessels, and others. Further, passenger
vessels is segmented into yachts, ferries, cruise and others. Under which the
passenger and cargo vessels will be seeing the maximum growth as these are the
short ranged vessels which require less power to operate efficiently
75-150KW
are projected to witness the highest CAGR during the forecast period
Based on power, the 75-150KW power is projected to grow at the
highest CAGR for the electric ship market during the forecast period.
Medium-size passenger ferries are considered under ships having power between
76-150 kW. The need for a reduced, or zero-emission transport system across
countries is high. Countries such as Japan, New Zealand, and Australia are also
moving toward using fully electric ferries for passenger transport. Norway has
incorporated fully electric, and hybrid technology in its ferries
The
European market is projected to contribute the largest share from 2021 to 2030
Europe is projected to be the largest regional share of the
electric ship market during the forecast period. The key factor responsible for
Europe, leading the electric ship market owing to the rapid growth of the
technologically advanced electric ships in the region. In Europe, the rise in
manufacturing industries and growing commerical and defence maritime industry
is encouraging manufacturers of electric ships to introduce technologically
advanced and efficient products across various vessel type. The increasing
demand for electric ship and the presence of some of the leading players
operating in the market, such as Vard (Fincantieri), ABB, Wartsila, and
Norwegian Electric Systems AS is expected to drive the Electric Ship market in
Europe. These players are focusing on R&D to increase their product lines
and using technologically advanced systems, subsystems, and other components
for manufacturing electric ship
Breakdown of primaries
The study contains insights from various industry experts,
ranging from component suppliers to Tier 1 companies and OEMs. The break-up of
the primaries is as follows:
•By Company Type: Tier 1-35%; Tier 2-45%; and Tier 3-20%
•By Designation: C Level-35%; Directors-25%; and Others-40%
•By Region: North America-45%; Europe-30%; Asia Pacific-20%; and Rest of the
World-5%
General Electric Company (US), ABB (Switzerland), Siemens AG (Germany), Wartsila (Norway) and Vard (Norway) are some of the leading players operating in the electric ship market report
Research
Coverage
The study covers the electric ship market across various
segments and subsegments. It aims at estimating the size and growth potential
of this market across different segments based on type, components, platform,
technology, and region. This study also includes an in-depth competitive
analysis of the key players in the market, along with their company profiles,
key observations related to their product and business offerings, recent
developments undertaken by them, and key market strategies adopted by them
Reasons to
Buy this Report
This report is expected to help market leaders/new entrants
with information on the closest approximations of the revenue numbers for the
overall electric ship Market and its segments. This study is also expected to provide
region wise information about the end use, and wherein electric ship are used.
This report aims at helping the stakeholders understand the competitive
landscape of the market, gain insights to improve the position of their
businesses and plan suitable go-to-market strategies. This report is also
expected to help them understand the pulse of the market and provide them with
information on key drivers, restraints, challenges, and opportunities
influencing the growth of the market.
Browse our full report with Table of Content :
https://www.bharatbook.com/report/930698/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-region-global-forecast-to
About Bharat Book Bureau:
Bharat
Book is Your One-Stop-Shop with an exhaustive coverage of 15,00,000 reports and
insights that includes latest Industry Study, Industry Trends & Analysis,
Forecasts Customized Intelligence, Newsletters and Online Databases. Overall a
comprehensive coverage of major industries with a further segmentation of 100+
subsectors.
Contact us at:
Bharat
Book Bureau
Tel: +91 22 27810772 / 27810773
Email: poonam@bharatbook.com
Website: www.bharatbook.com