United States Electric Ship Market 2025 | Growth Drivers, Trends & Market Forecast, Competitive Landscape & Investment Opportunities

Market Size and Growth

The Global Electric Ship Market is expected to grow at a high CAGR of 14% during the forecasting period (2023-2030).

Key Development:

United States: Recent Industry Developments

✅ In September 2025, Blue Water Autonomy partnered with Conrad Shipyard in Louisiana to construct unmanned autonomous vessels, with the first expected to launch in 2026.

✅ In September 2025, Arc secured a $160 million contract with Curtin Maritime to deploy hybrid-electric tugboats, marking a significant step in sustainable maritime operations.

✅ In September 2025, Eco Wave Power launched its first U.S. wave energy project at the Port of Los Angeles, aiming to harness ocean waves for renewable electricity generation.

Japan: Recent Industry Developments

✅ In August 2025, Tokyo Kisen and Marindows initiated Japan's first fully battery-powered EV harbor tugboat project, targeting zero-emission operations by 2030.

✅ In May 2025, NYK unveiled "e-Crea," Japan's first fully battery-driven work vessel, constructed at Keihin Dock in Yokohama.

✅ In April 2025, Imoto Lines and Marindows launched a zero-emission boxship project featuring swappable batteries, aiming to revolutionize container shipping.

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Electric Ships are vessels powered fully or partially by electric propulsion systems, often using batteries, fuel cells, or hybrid configurations. They offer reduced greenhouse gas emissions, lower fuel consumption, quieter operations, and improved energy efficiency, supporting sustainable maritime transport and compliance with environmental regulations.

Recent Mergers and Acquisitions:

United States: Recent M&A Activity

✅ In September 2025, Fairbanks Morse Defense announced its acquisition of Vestdavit, a European supplier of advanced davit systems. This strategic move aims to enhance Fairbanks Morse's capabilities in providing advanced maritime solutions.

✅ In September 2025, General Dynamics Electric Boat was awarded a $642 million contract modification to support submarine production, focusing on Virginia-class submarines. While not a traditional M&A, this significant contract underscores the company's ongoing investment in maritime technologies.

Japan: Recent M&A Activity

✅ In January 2024, Yamaha Motor Co., Ltd., a Japan-based mobility manufacturer, acquired Torqeedo, a Germany-based manufacturer of electric marine propulsion systems. This acquisition enhances Yamaha's capabilities in the electric marine sector as part of its Marine CASE Strategy, focusing on innovation and sustainability in marine products.

Key Players:

=> General Dynamics Electric Boat, Austal, Wartsila, Schottel Group, Anglo Belgian Corporation NV, Eco Marine Power, Akasol AG, Kongsberg, Norwegian Electric Systems AS, Corvus Energy, General Dynamics, Vard, Siemens, and Leclanché SA.

Growth Forecast Projected:

The Global Electric Ship Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Electric Ship Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

➥ By Type: Fully Electric, Hybrid

➥ By Mode of Operation: Autonomous, Remote Operated, Manual

➥ By Power Output: Less than 75 KW, 75 to 745 KW, 746 to 7560 KW, More than 7560 KW

➥ By End Users: Defence, Commercial, Submarines, Dredgers, Cargo Vessels, Others

Regional Analysis for Electric Ship Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Electric Ship producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Electric Ship revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ

Q: What is the growth rate of the Electric Ship Market?

A: The market is projected to expand at a compound annual growth rate (CAGR) of 14% during the forecast period from 2024 to 2031.

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