openPR Logo
Press release

Global Electric Ships Market Worth $14.6 Billion by 2029, Growing at 10.6% CAGR

09-08-2025 11:18 AM CET | Logistics & Transport

Press release from: The Business Research Company

Electric Ships

Electric Ships

Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.

Electric Ships Market Outlook: What Size And CAGR Are Anticipated By 2025?
In the past few years, the scale of the electric ships market has expanded swiftly. The market, which is expected to surge from $8.87 billion in 2024 to $9.78 billion in 2025, boasts a compound annual growth rate (CAGR) of 10.3%. Factors that have contributed to this growth during the historical period include powerful economic growth in developing markets, a surge in global commercial trading, and rising governmental backing.

What Is the Expected CAGR for the Electric Ships Market Growth Through 2029?
The market size for electric ships is projected to exponentially increase in the coming years, to $14.6 billion by 2029 with a CAGR of 10.6%. This swift growth during the forecast period can be associated with factors such as the rising implementation of hybrid and electric propulsion in renovated ships, a surge in defense spending, escalating concerns over the environment, and the growth in seaborne commerce. Main trends over the forecast period involve high-performance and advanced technological bass boats, prioritizing battery-hybrid ships, focusing on zero-emission vessels, technological breakthroughs, emphasis on artificial intelligence, introduction of new electric foiling water taxis, and critical partnerships and alliances.

Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/electric-ships-global-market-report

What Are the Primary Drivers Behind Electric Ships Market Growth?
The electric ship market is predicted to surge due to the growing popularity of recreational boating and water sports. These outdoor activities, which include boating, sailing, fishing, kayaking, jet skiing, and other water-based activities for leisure and relaxation, are enjoying a significant boom. This growth is fueled by rising disposable incomes and an increasing fascination with outdoor and adventure activities. Leisure crafts and tourist boats often equip electric motors due to their quiet and pollution-free experience for passengers. The National Marine Manufacturers Association (NMMA), a trade organization based in the US, reported that in May 2023, there was a substantial economic surge in recreational boating. The annual economic activity saw a 36% increase from $170 billion to $230 billion in 2023. Furthermore, the sale of new boats hit 260,000 in 2022, joined by over one million second-hand boats, showing an uptick compared to the preceding year. As such, the future of the electric ship market is forecast to be positively influenced by the expansion of recreational boating and water sports.

Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6420&type=smp

What Are the Key Segments Driving Electric Ships Market Growth?
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

What Are the Technological Trends Impacting the Electric Ships Market?
Leading corporations in the electric ship market are capitalizing on technological breakthroughs like all-electric tugboats in an effort to secure a competitive edge. All-electric tugs run solely on electric propulsion systems, making conventional fossil fuel engines redundant. For example, in April 2024, Damen Shipyards Group, a shipbuilding company from the Netherlands, unveiled their fully electric RSD-E Tug 2513, constructed for Port of Antwerp-Bruges. By harnessing electric propulsion technology, this innovative boat significantly lowers emissions and reduces environmental harm, thus improving the sustainability aspect in port operations. Beyond providing enhanced manoeuvrability and impressive power, the RSD-E Tug 2513 will aid in different harbour tasks like towing and berthing, all while fostering a more eco-friendly maritime industry.

Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=6420&type=smp

Who Are the Major Competitors in the Global 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 Region Dominates the Electric Ships Market Share in 2025?
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.

Speak With Our Expert:
Saumya Sahay,
Americas: +1 310-496-7795,
Asia: +44 7882 955267 & +91 8897263534,
Europe: +44 7882 955267,
Email: saumyas@tbrc.info

The Business Research Company - www.thebusinessresearchcompany.com

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company

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 Global Electric Ships Market Worth $14.6 Billion by 2029, Growing at 10.6% CAGR here

News-ID: 4173433 • Views:

More Releases from The Business Research Company

Air Cargo And Freight Logistics Global Market Insights: Growth Drivers, Size & Forecasts to 2029
Air Cargo And Freight Logistics Global Market Insights: Growth Drivers, Size & F …
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports. What Is the Forecasted Market Growth Rate of the Air Cargo And Freight Logistics Industry? The market size for air cargo and freight logistics has seen robust expansion in the past few years. The projection is that it will rise from $225.06 billion in 2024 to $240.65 billion in 2025, demonstrating
Future of Two-wheeler Shock Absorber Market: Size, Share & Forecasts to 2029
Future of Two-wheeler Shock Absorber Market: Size, Share & Forecasts to 2029
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports. What Is the Projected Market Size Valuation of the Two-wheeler Shock Absorber Market by 2025? The market size of the two-wheeler shock absorber has witnessed consistent growth over the recent years. It is projected to expand from $3.29 billion in 2024 to $3.39 billion in 2025, registering a compound annual growth
Solar Powered Car Industry to Achieve $8.7 Billion Growth by 2029
Solar Powered Car Industry to Achieve $8.7 Billion Growth by 2029
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments. How Will the Solar Powered Car Market Grow by 2025 in Terms of Size and Growth? The market dimension of solar powered vehicles has undergone substantial growth in the past few years. It is projected to increase from $1.94 billion in 2024 to $2.58 billion in 2025, reflecting a compound annual growth
Recreational Boating Market Growth to be Driven by Emerging Trends | $46.66 Billion by 2029
Recreational Boating Market Growth to be Driven by Emerging Trends | $46.66 Bill …
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports. What is the Projected Market Size of the Recreational Boating Industry? The size of the recreational boating market has been on a steady rise over the past few years. This market is projected to escalate from $32.87 billion in 2024 to $34.94 billion in 2025, reflecting a compound annual growth rate

All 5 Releases


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.