Electric Ships Market Statistics, Opportunities and Forecast to 2030

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According to the latest market research the
report "Electric Ships Market by Ship Type
(Commercial, Defense), End-Use (Newbuild Line
Fit, Retrofit), System (Energy Storage, Power
Conversion, Power Generation, Power
Distribution), Mode of Operation, Range, Power,
Type, and Region - Global Forecast to 2030", is
projected to grow from USD 5.2 billion in
2019 to USD 15.6 billion by
2030, 13.2 2030.
at a CAGR of from 2025 to Two forecast
2019 to
periods, i.e.,
2025 and 2025 to 2030, are covered in this
market report, as the adoption of electric
propulsion systems is estimated to grow at a
higher rate post- 2025. The growth of the market
can be attributed to the demand for fully
electric ships for passenger transport, and
hybrid ships for commercial and defense
applications. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id167955093 Based on range, the lt50 km
segment is projected to lead the electric ships
market during the forecast period. Based on
range, the electric ships industry is projected
to be led by the lt50 km segment from 2019 to
2030. This segment is expected to grow during the
forecast period, due to the rapid adoption of
fully electric ships for passenger transport in
Europe and North America. Countries such as
Norway, Denmark, Germany, Sweden, and Finland,
among others, are continually developing
environment-friendly technologies to reduce
carbon, sulfur oxide, and nitrogen oxide
emissions, which are major contributors to
pollution in the shipping industry. Companies
such as Corvus Energy, Leclanché, and Eco Marine
Power have developed energy storage systems that
are powerful enough to be used throughout the day
on small vessels such as yachts and passenger
ferries, enabling them to become fully
electric. The energy storage systems segment is
projected to lead the electric ships market from
2019 to 2030. Based on the system, the energy
storage systems segment is projected to grow at
the highest CAGR during the forecast period. The
market for energy storage systems is expected to
grow during the forecast period due to the
increasing requirement of these systems in all
fully electric and hybrid ships, which run on
battery. Advancement in lithium battery
technology has increased the usage of lithium-ion
batteries in the marine sector, especially for
providing power to the ships propellers,
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enabling a fully electric operation. Corvus
Energy, a key player in this segment, has
supplied energy storage systems for AIDA Cruises
(Germany), Seaspan Ferries (US), Grovfjord Mek.
Verksted SA (Norway), and Norwegian Electric
Systems (Norway), among others. Asia Pacific is
projected to be a high growth potential market
for electric ships during the forecast
period. There is a tremendous retrofit and
line-fit potential in Asia Pacific, owing to a
large number of cargo vessels operating in this
region. This rise in sea trade has led to
increasing demand for ships for the
transportation of manufactured goods worldwide.
Thus, the rising number of ships, as well as the
growth of the regions shipping industry, is
projected to impact the growth of the electric
ships market in the Asia Pacific region. Key
Market Players Major players in the electric
ships market are Norwegian Electric Systems
(Norway), Corvus Energy (Canada), General
Dynamics Electric Boat (US), MAN Energy
Solutions SE (Germany), Vard (Norway), Siemens
(Germany), and Leclanché SA (Switzerland), among
others. Ask for Sample Report _at_ https//www.market
sandmarkets.com/requestsampleNew.asp?id167955093
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