Press release
2025 Electric Ships Market Outlook: Key Indicators Shaping Growth Through 2034
Electric Ships Market
How Large Will the Electric Ships Market Size By 2025?
In recent times, the market size of electric ships has witnessed a swift expansion. The market, which is projected to rise from $8.87 billion in 2024 to $9.83 billion in 2025, will experience a compound annual growth rate (CAGR) of 10.8%. The previously seen growth is due to robust economic development in emerging markets, growth in global commercial exchange, and increased governmental backing.
How Big Is the Electric Ships Market Size Expected to Grow by 2029?
The market size for electric ships is predicted to experience accelerated expansion in the upcoming years, with projections setting it at $15.01 billion by 2029, increasing at a compound annual growth rate (CAGR) of 11.2%. This steady growth trajectory during the projection period can be ascribed to growing acceptance of hybrid and electric propulsion to retrofit ships, an upswing in defense spending, mounting concerns about the environment, along with a growth in sea-commerce. The forecast period will be dominated by various trends such as the influx of advanced, high-powered bass boats, concentration on battery-hybrid vessels, emphasis on zero-emission crafts, technological breakthroughs, a shift towards artificial intelligence, the launch of innovative electric foiling water taxis, and a series of strategic partnerships and cooperative ventures.
View the full report here:
https://www.thebusinessresearchcompany.com/report/electric-ships-global-market-report
Which Key Market Drivers Powering Electric Ships Market Expansion and Growth?
The increased interest in recreational boating and water sports is anticipated to give a significant boost to the electric ship market. Leisure activities on water like boating, sailing, fishing, kayaking, jet skiing, and other water sports for pleasure and relaxation all fall under the banner of recreational boating and water sports. The trend can be attributed to higher disposable incomes, along with growing curiosity in outdoor and adventurous activities. Electric motors are favored in tourist boats and leisure crafts for their serene, and pollution-free rides. For instance, the National Marine Manufacturers Association (NMMA), a United States-based trade association, disclosed that the recreational boating sector experienced a substantial economic upswing in May 2023. Specifically, annual economic activity spiked by 36% moving from $170 billion to $230 billion within the year. Additionally, 260,000 new boats were purchased in 2022, alongside over one million second-hand boats showing an upward trail in comparison to the prior year. Consequently, this increase in recreational boating and water sporting activities is set to stimulate the growth of the electric ship market.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6420&type=smp
Which Fast-Growing Trends Are Poised to Disrupt the Electric Ships Market?
Leading corporations within the electric ship market are concentrating their efforts on technological advancements, such as fully electric tugs, as a means to secure an edge over competitors. An all-electric tug is a kind of tugboat powered exclusively by electric propulsion systems, doing away with the requirement for conventional fossil fuel engines. To exemplify, Damen Shipyards Group, a shipbuilding company based in the Netherlands, rolled out the entirely electric RSD-E Tug 2513 for the Port of Antwerp-Bruges in April 2024. This groundbreaking vessel seeks to heighten port operations' sustainability through the use of electric propulsion tech, which dramatically cuts down emissions and lessens harm to the environment. The RSD-E Tug 2513, characterized by its superior maneuverability and strong performance, will facilitate an array of harbour tasks such as towing and docking, thereby fostering a more eco-friendly maritime sector.
What Are the Emerging Segments in the Electric Ships Market?
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
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=6420&type=smp
Who Are the Global Leaders 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
Which are the Top Profitable Regional Markets for the Electric Ships Industry?
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.
Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=6420
This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.
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 2025 Electric Ships Market Outlook: Key Indicators Shaping Growth Through 2034 here
News-ID: 4102466 • Views: …
More Releases from The Business Research Company
Global Surge In Air Pollution Propels Growth In The Industrial Air Filtration Ma …
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 Industrial Air Filtration Industry Market Size Be by 2025?
Over the past several years, the industrial air filtration market has seen robust growth. Expected to increase from $14.97 billion in 2024 to $15.79 billion in 2025, it will experience a compound annual growth rate (CAGR) of…
Steady Expansion Forecast for Heavy Construction Equipment Market, Projected to …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Heavy Construction Equipment Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of heavy construction equipment has seen significant expansion in the past few years. The market, which is expected to rise from $204.24 billion in 2024 to $215.46 billion in 2025, will…
Form-Fill-Seal Equipment Industry Outlook 2025-2029: Market Set to Cross $23.82 …
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 Form-Fill-Seal Equipment Market Size By 2025?
The market for form-fill-seal equipment has experienced gradual expansion in recent times. It's projected to rise from $17.81 billion in 2024 to $18.62 billion in 2025, with a compound annual growth rate (CAGR) of 4.5%. The growth in previous…
Top Market Shifts Transforming the Filtration & Drying Equipment Market Landscap …
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 Filtration & Drying Equipment Market Through 2025?
Recent years have seen a robust increase in the size of the filtration & drying equipment market. Forecasts show a market rise from $1.94 billion in 2024 to $2.06 billion in 2025, with a Compound…
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.…
