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Electric Ships Market Analysis 2023: Growth Drivers, Share, Trends And Insights 2032 | ABB Ltd., Wartsila, Kongsberg, Norwegian Electric Systems AS, Corvus Energy
Electric Ships Market
The Business Research Company's Electric Ships Global Market Report 2023 identifies rise in the adoption of hybrid and electric propulsion for retrofitting ships as the major driver for the Electric Ships market's growth in the forecast period. 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.
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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Major competitors in the Electric Ships market are ABB Ltd., Wartsila, Kongsberg, Norwegian Electric Systems AS, Corvus Energy.
A key trend in the Electric Ships market includes technological advancement. The welding consumables market is increasing its demand by introducing and applying new technologies and their updated software for the industries. The automotive industry is increasingly focusing on integrating smarter and safer safety systems into vehicles for better safety in different terrains and conditions. For instance, in November 2021, The Yara Birkeland, the world's first electric and self-propelled container ship with zero emissions, had its first journey in the Oslo fjord.
Read More On The Global Electric Ships Market Report Here:
https://www.thebusinessresearchcompany.com/report/electric-ships-global-market-report
The Electric Ships market is segmented -
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
6. 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.
The Business Research Company's "Global Electric Ships Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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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
……
26. Africa Electric Ships Market
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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