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Electric Ships Market 2023-32 : Industry Analysis, Size, Share, Growth And Forecast | ABB Ltd., Wartsila, Kongsberg, Norwegian Electric Systems AS, Corvus Energy, General Dynamics Electric Boat
Electric Ships Market
Electric Ships Market Size, Growth Rate, And Forecast
The global electric ships market size grew from $7.19 billion in 2022 to $8.1 billion in 2023 at a compound annual growth rate (CAGR) of 12.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The electric ships market size is expected to grow to $12.97 billion in 2027 at a CAGR of 12.5%.
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Electric Ships Market Drivers
The rise in the adoption of hybrid and electric propulsion for retrofitting ships is anticipated to drive the growth of the electric ship market. An eco-friendly ship's electric propulsion system is a hybrid system that uses dual-fuel engines, batteries, and fuel cells as multiple power sources.
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Electric Ships Market Segments
1) By Type: Fully Electric, Hybrid
2) By Mode of Operation: Manned, Remotely Operated, Autonomous
3) By System: Energy Storage Systems, Power Conversion, Power Generation, Power Distribution
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
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Western Europe was the largest region in the Electric Ships market.
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Electric Ships Market Key Players
Major players in the electric ship's market are ABB Ltd., Wartsila, Kongsberg, Norwegian Electric Systems AS, Corvus Energy, General Dynamics Electric Boat, MAN Energy Solutions SE, Leclanche SA, Siemens AG, General Electric Company, Bureau Veritas, Canadian Electric Boat Company, Electrovaya Inc., Triton Submarines, Duffy Electric Boats, and Akasol AG.
The Business Research Company's "Global Electric Ships Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Electric Ships Market Include:
1. Executive Summary
2. Electric Ships Market Characteristics
3. Electric Ships Market Trends And Strategies
4. Electric Ships Market - Macro Economic Scenario
5. Electric Ships Market Size And Growth
……
27. Electric Ships Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Electric Ships Market
29. Electric Ships Market Future Outlook and Potential Analysis
30. Appendix
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