Electric Ships Market Size & Share | Industry Analysis Report

The Business Research Company’s Electric Ships Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Electric Ships Global Market Report 2023 evaluates electric ships market size, growth rate, drivers, trends, and major companies.

The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The global electric ships market is expected to grow from $7,983.72 million in 2027 at a rate of 10.39%. The market is then expected to grow at a CAGR of 12.79% from 2027 and reach $$14,574.13 million in 2032.

The rise in the adoption of hybrid and electric propulsion for retrofitting ships will propel the growth of the electric ships market during the forecast period. An eco-friendly ship’s electric propulsion system is a hybrid system that makes use of numerous power sources, including dual-fuel engines, batteries, and fuel cells. To use these power sources on ships, however, a number of technologies, including fuel storage facilities, petrol vaporizers, and battery thermal runaway avoidance, must be developed simultaneously. For instance, the 2030 Green Ship-K Promotion Strategy, which focused on the development and widespread use of low-carbon ship technologies, such as hydrogen fuel cells and propulsion systems, is a crucial part of South Korea’s plans to achieve carbon neutrality by the year 2050. The effort aims to cut the nation’s shipping-related greenhouse gas emissions by 40% over the following 25 years and by 70% over the following 50 years. Therefore, the increasing adoption of hybrid and electric propulsion for retrofitting ships is expected to propel the growth of the electric ships market during the forecast period.

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The electric ships market segments in the report are:

1) By Type: Hybrid; Fully Electric

2) By Mode Of Operation: Manned; Remotely Operated; Autonomous

3) By System: Energy Storage Systems; Power Generation; Power Distribution; Power Conversion

4) By Power: Less Than 75 KW; 75 To 150 KW; 151 To 745 KW; 746 To 7,560 KW; Greater Than 7,560 KW

5) By Range: Less Than 50 KM; 50 To 100 KM; 101 To 1000 KM; Greater Than 1,000 KM

The table of contents in TBRC’s electric ships market report includes:

1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure

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19. Company Profiles
20. Key Mergers And Acquisitions
21. Opportunities And Strategies
22. Electric Ships Market, Conclusions And Recommendations
23. Appendix

 

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