Electric Ship Market Size, Share and Trends Analysis Report by Type, By Application, And Segment Forecasts to 2030

The Electric Ship market crossed US$ 4.7 billion mark in 2022 and is expected to hit US$ 16.2 billion by 2030, recording a CAGR of 14.9% during the forecast period.

An electric boat is any boat or ship whose primary propulsion technology is an electric drive system. It can be a full-battery electric, hydrogen fuel cell electric, electric hybrid boat or ship, from tugboats, ferries, cargo ships, and barges to tour boats, fishing trawlers, cruising yachts, and unmanned underwater vehicles (UUVs). Electric ships are driven electrically, unlike conventional diesel engine ships. These ships use a battery storage device as their power source to drive electric motors. Numerous types of batteries can be used in an electric ship, including lithium-ion batteries, lead-acid batteries, and fuel cells. Electric ships are mainly ferries and small passenger ships on inland waterways that sail entirely with electricity. They travel only short distances with ~80 km in a single charge.

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The Electric Ship market following are the manufacturers cover -
• BAE Systems
• Duffy Electric Boat Company
• Fjellstrand AS
• X Shore
• General Dynamic Electric Boat
• Hurtigruten
• MAN Energy Solutions
• PortLiner
• Siemens Energy
• VARD AS.

The leading players of the Electric Ship industry, their market share, product portfolio, company profiles are covered during this report. Key market players are analyzed on the basis of production volume, gross margin, market value, and price structure. The competitive market scenario among Electric Ship players will help the industry aspirants in planning their strategies. The statistics presented in this report are an accurate and helpful guide to shaping your business growth.

Electric Ship Market Segment by Type, the product can be divided into:
• Battery Electric Ships
• Plug-In Hybrid Electric Ships
• Hybrid Electric Ships.

By Power:
• Less Than 75 KW
• 75 - 150 KW
• 151 - 745 KW
• 746 - 7560 KW
• More Than 7560 KW.

By Range:
• Less Than 50 Km
• 50 - 100 Km
• 101 - 1000 Km
• More Than 1000 Km.

By Ship Type:
• Cruise Ships
• Ferries
• Tankers
• Bulk Carriers
• Fishing Vessels
• Destroyers
• Aircraft Carriers
• Others.

Market Segment by Application, split into:
Region
• North America
• Europe
• Asia Pacific (APAC)
• South & Central America
• Middle East & Africa

Rise in Adoption of Hybrid and Electric Propulsion Systems for Retrofitting Ships is one of the major factors accelerating Electric Ship Market growth.

Retrofitting ships is gaining interest and attracting shipowners/shipbuilders to extend the lifetime of their existing ships. Such a process provides a chance to reduce fuel consumption and stay updated with the latest eco-friendly solutions as a cost-effective procedure. Retrofitting is becoming a common practice in the maritime industry. Shipbuilders are moving toward automation, integrating newly built ships, and retrofitting existing ships with hybrid and electric propulsion systems. This system is a convenient choice for retrofitting outdated ships with enormous retrofit potential, including ferries, container vessels, cruise ships, tugboats, and general cargo ships. Shipbuilders choose to retrofit ships with a hybrid-electric propulsion system or a fully electric propulsion system as it is a relatively cheaper option than purchasing a new ship. Further, several European shipbuilders are actively retrofitting their current ship fleet with hybrid and electric propulsion systems. These factors have resulted in the adoption of hybrid and electric propulsion systems for retrofitting ships.

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Recent strategic developments in the Electric Ship Market
The Electric Ship market has undergone several significant developments, and a few of these have been mentioned below:
• In November 2021, BAE Systems launched a next-generation power and propulsion system to help marine operators reach zero emissions. It provides a flexible solution improving electrical efficiency and vessel range, increasing propulsion power, and simplifying installation.
• In September 2022, Kolumbus (a mobility company) and Fjellstrand (shipbuilder) signed a contract to deliver the world's first fully electrical fast ferry. This project had received funding from the European Union's Horizon 2020 research and innovation program.

The report includes an executive summary, regional economic outlook, and summary sections which provide a consistent analysis of the Electric Ship Market 2022 - 2030. in addition, the report within the market overview section outlines PLC analysis and PESTLE analysis to provide a thorough analysis of the market. The overview section details Porter's 5 forces analysis that helps to reveal a possible situation of the market by revealing a competitive situation with respect to the Electric Ship Market.

This analysis report also presents practical and practical case studies to help you get a clearer understanding of the subject. This analysis report has been prepared through industry analysis techniques and presented in a professional manner by including effective information graphics whenever necessary. It helps ensure business stability and rapid development to achieve notable remarks within the Electric Ship market.

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Table of Contents: Electric Ship Market 2022 - 2030
Chapter 1: Overview of Electric Ship
Chapter 2: Regional Market Status and Forecast by Regions
Chapter 3: Regional Market Status and Forecast by Types
Chapter 4: Regional Market Status and Forecast by Downstream Industry
Chapter 5: Market driving correlational analysis
Chapter 6: Market competition status by major makers
Chapter 7: Major manufacturer's introduction and market data
Chapter 8: Upstream and downstream market analysis
Chapter 9: Cost and gross margin analysis
Chapter 10: Marketing status analysis
Chapter 11: Market report conclusion
Chapter 12: Research methodology and reference

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