Press release
Rising Recreational Boating Trends Fuel Growth In Electric Ship Market: A Key Factor Shaping the Future of the Electric Ships Market in 2025
Electric Ships Market
The electric ship market is anticipated to expand due to the growing popularity of recreational boating and water sports. These water-based activities, such as boating, sailing, fishing, kayaking, and jet skiing, are enjoyed for leisure and relaxation. The spike in interest in recreational boating and water sports can be attributed to an increase in disposable incomes and a heightened taste for outdoor and adventure pursuits. Electric motors, which provide passengers with a quiet and eco-friendly experience, are increasingly being used in tourist boats and leisure crafts. For example, data from the National Marine Manufacturers Association (NMMA), an American trade body, show that there was a substantial 36% boost in economic activity in the recreational boating sector in May 2023, going up from $170 billion to $230 billion. Additionally, sales of new boats in 2022 reached 260,000, along with the sale of more than a million second-hand boats, showing an increase from the year before. Thus, the electric ship market is likely to be driven by the growing trend in recreational boating and water sports.
Get Your Electric Ships Market Report Here:
https://www.thebusinessresearchcompany.com/report/electric-ships-global-market-report
What growth opportunities are expected to drive the electric ships market's CAGR through 2034?
In recent times, we've seen a considerable expansion in the market size of electric ships. Its growth is projected to increase from $8.87 billion in 2024 to $9.83 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 10.8%. Factors such as significant economic growth in developing markets, a rise in global commercial trade, and enhanced government backing have all contributed to this growth during the historic period.
Expectations for the electric ships market size show a brisk expansion in the following years. It's predicted to inflate to $15.01 billion by 2029, boasting a compound annual growth rate (CAGR) of 11.2%. The anticipation of growth in the projected period can be credited to factors such as the increasing adoption of hybrid and electric propulsion for revamping ships, a rise in defense spending, escalating concerns about the environment, and a surge in maritime trade. The prognosis for the period also highlights trends like high-powered, state-of-the-art bass boats, a focus on hybrid-battery ships, an emphasis on zero-emission vessels, tech advancements, a shift toward artificial intelligence, the introduction of new electric foiling water taxis, and a focus on strategic alliances and collaborations.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6420&type=smp
What are the emerging trends shaping the future of the electric ships market?
Prominent businesses involved in the electric ship industry are concentrating on technological advancements, such as the development of fully-electric tugboats, to outperform their competition. The term "all-electric tug" points to a tugboat run purely on electric propulsion systems, thereby negating the dependence on conventional fossil fuel engines. For instance, in April 2024, a leading shipbuilder from the Netherlands, Damen Shipyards Group, unveiled the completely electric RSD-E Tug 2513, built specifically for the Port of Antwerp-Bruges. The purpose behind this novel tugboat design is to amplify sustainability within port activities through the use of electric propulsion technology, leading to significant emission reductions and lessening environmental harm. Aside from improved flexibility and impressive power, the RSD-E Tug 2513 is intended to facilitate various port services like towing and docking, contributing to a more environmentally-friendly maritime sector.
Which growth-oriented segments of the electric ships market are leading the industry's development?
The electric ships market covered in this report 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 75KW, 75 To 150KW, 151 To 745KW, 746 To 7,560KW, Greater Than 7,560KW
5) By Range: Less Than 50Km, 50 To 100Km, 101 To 1000Km, Greater Than 1,000Km
Subsegments:
1) By Fully Electric: Battery-Powered Vessels, Electric Ferries, Electric Cargo Ships
2) By Hybrid: Diesel-Electric Vessels, Hybrid Ferries, Hybrid Container Ships
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=6420
What regions are leading the charge in the electric ships market?
Western Europe was the largest region in the electric ship market in 2024. The regions covered in the electric ships market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the electric ships market?
Major companies operating in the electric ships market include ABB Limited, Siemens Energy, BAE Systems, Wärtsilä, Kongsberg Gruppen ASA, MAN Energy Solutions SE, Schottel GmbH, Corvus Energy, Anglo Belgian Corporation (ABC) NV, Cochin Shipyard Limited, Western India Shipyard, Hindustan Shipyard Ltd, Adani Kattupalli Shipyard (Larsen & Toubro), Shanghai Waigaoqiao Shipbuilding Co. Ltd., Qingdao Captain Marine Co Ltd, HBM-Huanan Building Materials (Shenzhen) Co Ltd, COSCO Shipping, Headway Technology Co. Ltd, Star MarinePro Corp Limited, China Shipbuilding Industry Co Ltd, Duffy Electric Boats, General Dynamics Electric Boat, Leclanche SA, Tamarack Lake Electric Boat Company, SPRK Electric Boats, Canadian Electric Boat Company, Westport LLC, Midwest Lake Management Inc., Craig Catamaran Corporation, Astillero rio Santiago, Tandanor, Neptun Ship Design Gmbh, Spi astilleros, Lamwec Colombia, Navtek Naval Technologies, Empire Marine International LLC, Majix Marine, Al-Ghawas, Aries Marine, Ocean Boats, Royal Yachting, Crown Electric Ships and Boats, Alexandria, Joemarine Nautical Company Nigeria Limited, The Damen Group, Southern African Shipyards, Nigerdock FZE
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=6420&type=smp
What Is Covered In The Electric Ships Global Market Report?
• Market Size Forecast: Examine the electric ships market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the electric ships market for a structured understanding.
• Key Players Overview: Analyze major players in the electric ships market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the electric ships market.
• Segment Contributions: Evaluate how different segments drive overall growth in the electric ships market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the electric ships market.
• Industry Challenges: Identify potential risks and obstacles affecting the electric ships market.
• Competitive Landscape: Review strategic developments in the electric ships market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Rising Recreational Boating Trends Fuel Growth In Electric Ship Market: A Key Factor Shaping the Future of the Electric Ships Market in 2025 here
News-ID: 3901109 • Views: …
More Releases from The Business Research Company
2025-2034 High Floor Interior Fire Door Market Outlook: Key Drivers, Emerging Ch …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the High Floor Interior Fire Door Industry Market Size Be by 2025?
The market size of high floor interior fire doors has seen substantial growth recently. The projection indicates a surge from $1.46 billion in 2024 to $1.58 billion in 2025, adhering to a compound annual growth…
Heavy Duty Manual Tile Cutters Market Insights 2025-2034: Growth Forecast and St …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Heavy Duty Manual Tile Cutters Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for heavy-duty manual tile cutters has seen a significant increase over the past few years. The market is projected to expand from $1.35 billion in 2024 to $1.48 billion…
2025-2034 Handheld Electric Concrete Saw Market Roadmap: Insights for Competitiv …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Handheld Electric Concrete Saw Market Size By 2025?
There has been a robust expansion in the market size of handheld electric concrete saws in recent years. The market is projected to swell from $1.32 billion in 2024 to $1.43 billion in 2025, growing at an…
Key Trends Influencing the Growth of the Granite And Marble Countertops Market i …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Granite And Marble Countertops Market Through 2025?
In the recent past, the market for granite and marble countertops has seen significant growth. The size of the market is projected to expand from $14.54 billion in 2024 to $15.45 billion in 2025, with…
More Releases for Ship
Ship Leasing Market to Eyewitness Massive Growth by 2030: Global Ship Lease, Fir …
Advance Market Analytics published a new research publication on "Ship Leasing Market Insights, to 2028" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Ship Leasing market was mainly driven by the increasing R&D spending across the world. Some of the key players profiled…
Cargo Shipping Market : Bulk Carriers, General Cargo Ship, Container Ship, Tanke …
According to a new report published by Allied Market Research, titled, "Cargo Shipping Market," The global cargo shipping market size was valued at $2.2 trillion in 2021, and is projected to reach $4.2 trillion by 2031, growing at a CAGR of 7% from 2022 to 2031.
Asia-Pacific dominated the global cargo shipping market in 2021. China is expected to hold a dominant revenue share throughout the forecast period owing to the…
Cargo Shipping Market : Bulk Carriers, General Cargo Ship, Container Ship, Tanke …
According to a new report published by Allied Market Research, titled, "Cargo Shipping Market," The cargo shipping market was valued at $2.2 trillion in 2021, and is estimated to reach $4.2 trillion by 2031, growing at a CAGR of 7% from 2022 to 2031.
Asia-Pacific dominated the global cargo shipping market in 2021. China is expected to hold a dominant revenue share throughout the forecast period owing to the presence of…
Debut at the Port of Emden: Ship-to-Ship Refueling with LNG
“Fill Her Up, Please!” Siem Confucius, a 200-Meter-Long Car Carrier, Is Taking on LNG Fuel From the 108-Meter-Long LNG Bunker Ship Engie Zeebrugge.
Emden | 14. August 2020
It takes some eight hours for approximately 1500 metric tons of cryogenic (-163 degrees C) liquefied natural gas to transfer from ship to ship. The car carrier Siem Confucius had already called the Ems Quay in mid-June for loading vehicles at the Port of…
Ship Leasing Market Growth Scenario 2025 | Hamburg Commercial Bank, First Ship L …
A latest study released by HTF MI on Global Ship Leasing Market covering key business segments and wide scope geographies to get deep dive analysed market data. The study is a perfect balance bridging both qualitative and quantitative information of Ship Leasing market. The study provides historical data (i.e. Volume** & Value) from 2013 to 2018 and forecasted till 2025*. Some are the key & emerging players that are part…
Ship Solar Power System Installed on Large General Cargo Ship MV Panamana
Ship solar power system & associated equipment installed by crew whilst ship operated normally
Fukuoka, Japan – 24th May 2019 – Eco Marine Power (EMP) is pleased to announce its Aquarius MAS + Solar solution has been installed on the large general cargo ship MV Panamana. This installation was carried out by the ship’s crew with remote support provided by Zeaborn Ship Management (Singapore) Pte. Ltd. and EMP from Japan.…
