Electric Ship Market worth $ 16.8 Billion by 2030 - Exclusive Report by xResearch offering Market Sizes, Forecast, & Competitive Landscape

According to a new report published by xResearch, titled, “Electric Ship Market Insights, Trends, Opportunity & Forecast, 2021–2030,” the global electric ship market size is anticipated to witness double-digit growth during the forecast period i.e. 2021-2030. The rapidly increasing demand for environment friendly transport systems, the growing seaborne trade and maritime tourism industry worldwide; the surging adoption of electric propulsion systems and the growing emphasis of governments on encouraging consumers to adopt eco-friendly ships in order to meet environmental rules and regulations are among the major factors propelling the growth of the global electric ships market.

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According to mode of operation, the manned segment accounted for the largest share in the global electric ship market in 2020. The segment is estimated to maintain this lead over the forecast period. On the other hand, the autonomous segment is anticipated to register the highest growth rate in the market during the forecast period. According to type, the hybrid segment held the largest share in the global electric ship market in 2020. The segment is projected to continue with its dominance in the market throughout the forecast period. On the other hand, the fully electric segment is expected to expand at the highest CAGR in the market during the forecast period. According to power, the 75-150KW segment dominated the global market for electric ship in 2020. The segment is anticipated to retain its lead in the market during the forecast period. However, the less than 75 KW segment is anticipated to grow at the highest CAGR over the forecast period.

The European region led the global electric ship market in 2020 and is expected to further retain its dominance in the market over the forecast period of 2021-2030. The Germany, U.K, Norway, Finland, and Denmark are the among the key contributors to the growth of the market in the region. The North American region followed by the Asia Pacific region is anticipated to witness the highest growth in the electric ship market during the forecast period. The U.S. is the among the key contributor to the growth of the market in the North American region. Whereas, India, China, and Japan stand as the key contributors to the growth of the market in the Asia Pacific region.

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Some of the major electric ship companies profiled in the report include MAN Energy Solutions SE , Vard, Leclanché SA , ABB Limited, Siemens AG, Wartsila, Norwegian Electric Systems, Corvus Energy, General Dynamics Electric Boat and Kongsberg Gruppen.

The global electric ship market is segmented into type, battery type, system, carriage type, mode of operation, ship vessel type, power, range, tonnage, end use and region. Based on type, the market is classified into fully electric and hybrid. Based on battery type, it is classified into lead-acid, lithium-ion and nickel-based batteries. Based on system, it is classified into energy storage systems, power conversion, power generation and power distribution. Based on carriage type, it is classified into passenger and cargo. Based on mode of operation, it is classified into manned, remotely operated and autonomous. Based on ship vessel type, it is classified into commercial vessel, defense vessel and special vessel. The commercial vessel segment is further categorized into passenger cruise, bulk carrier & container ships, tankers and others. The defense vehicle segment is further categorized into aircraft carrier, war ship, submarine and others. Based on power, it is classified into less than 75KW, 75-150KW, 151-745KW, 746-7560KW and greater than 7560KW. Based on range, it is classified into less than 50KM, 50-100KM, 101-1000KM and greater than 1000KM. Based on tonnage, it is classified into less than 500DWT, 500-5000DWT, 50001-15000DWT and greater than 15000DWT. Based on end use, it is classified into new build & line fit and retrofit.

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The global electric ship market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).

Key Insights of Electric Ship Market

• On the basis of mode of operation, the manned segment accounted for the largest share in the global electric ship market in 2020 and is estimated to maintain this lead over the forecast period. The autonomous segment is anticipated to register the highest growth rate in the market during the forecast period.
• On the basis of type, the hybrid segment held the largest share in the global electric ship market in 2020 and is projected to continue with its dominance in the market throughout the forecast period. The fully electric segment is expected to expand at the highest CAGR in the market during the forecast period.
• On the basis of power, the 75-150KW segment dominated the global market for electric ship in 2020 and is anticipated to retain its lead in the market during the forecast period. The less then75 KW segment is anticipated to grow at the highest CAGR over the forecast period.
• On the basis of region, Europe led the global electric ship market in 2020 and is expected to further retain its dominance in the market over the forecast period of 2021-2030.
• On the basis of region, North America followed by the Asia Pacific region is anticipated to witness the highest growth in the electric ship market during the forecast period.

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About xResearch:
xResearch is a leading independent provider of strategic and analytical market research. We create data and analysis on thousands of products and services around the world. Our market research reports empower companies with strategic data, analysis and consumer trends in a single resource.

We unite the most profound insight over the vastest arrangement of capital-escalated businesses and markets. By interfacing information crosswise over factors, our analysts give our clients a wealthier, profoundly incorporated perspective of their industry. With experienced domain experts, xResearch strives to provide best solutions and accurate forecast which enables the client to take informed decisions.

This release was published on openPR.