Electric Ship Market Size, Share & Trends Analysis Report By Type (Semi Autonomous, Fully Autonomous), By Power Source (Fully Electric, Hybrid), By Power Output (<75 kW, 75 - 745 kW), By Vessel Type, By Region, And Segment Forecasts, 2023

The global electric ship market size is projected to reach USD 17.91 billion by 2030, growing at a CAGR of 10.9% during the forecast period, according to a recent analysis from Grand View Research, Inc. The growing sensitivity of various international maritime authorities toward a cleaner environment has supported the demand for a zero-emission marine electric vessel. Additionally, the rising adoption of electric ships for inland cargo and passenger transportation is anticipated to boost the market's growth over the forecast period.

Marine vessels with conventional internal combustion engine-based propulsion systems and propellers are directly connected to the engine with the shaft, creating a high friction and vibration level, thereby decreasing the ship's overall efficiency. Also, the vibrations created by this connection generate structural fatigue in the vessel structure and discomfort to the crew/passengers. However, in electric ship propulsion, there is no physical connection of the power source to the propeller, which reduces noise, vibration, and friction generated from this link. Moreover, the increased focus of international maritime authorities to limit the noise and vibration in the ship has compelled shipbuilders to invest and adopt alternative technologies in accordance with environmental regulations. Also, the high adoption of low-vibration propulsion systems in luxury passenger cruises and yachts is expected to significantly boost the electric ship industry's growth over the forecast period.

The conventional internal combustion engine encapsulates much space compared to an electric propulsion system owing to its physically connected machines from the power source and propeller through a shaft. The shift from conventional engines to the electrical propulsion system can save much space in the ship, which can be used to carry extra cargo and passengers to earn more profit in this competitive era. Moreover, the internal combustion engine of big marine vessels runs on bunker fuel owing to its low cost, although it generates a high volume of sulfur emission. However, increased focus shipbuilders on reducing sulfur emissions, with higher effectiveness and efficiency, is expected to impact the market for electric ships over the forecast period positively.

Moreover, the increasing adoption of electric-based defense technology in naval defense, such as laser gun and rail guns, are also expected to boost the electrically propelled ship. The technology, such as laser guns and medium to large-caliber rail guns, energy requirement in millions of amps. These systems cannot be installed on conventional ships owing to their huge power requirement, and none of the vessels can generate or store such an amount of energy. Besides, in an electric boat, the energy generated can be diverted to these new technology weapons, leading to the adoption of the electric ship in the naval defense forces.

Electric Ship Market Report Highlights:

By power source, a hybrid electric segment is expected to be a key segment, exhibiting the highest CAGR over the forecast period. The primary factor for high growth is the presence of an additional propulsion option, which reduces the risk during long route voyages.
Less than 75KW power output segment is expected to dominate the market in the upcoming years, and it is expected to retain its dominance throughout the forecast period owing to its adoption rate in maritime tourism, border patrol, and specialized purpose vessels.
Europe accounted for the largest revenue share of 35.8% in 2022 and is expected to grow at the fastest CAGR of 11.9% during the forecast period.

Product Code: GVR-4-68038-545-8

Chapter 1. Methodology and Scope

1.1. Market Segmentation & Scope
- 1.1.1. Power output
- 1.1.2. Power source
- 1.1.3. Type
- 1.1.4. Vessel type
- 1.1.5. Regional scope
- 1.1.6. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR's internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.3.5. Details of primary research
1.4. Information or Data Analysis
1.5. Market Formulation & Validation
1.6. Model Details
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives

Chapter 2. Executive Summary

2.1. Market Outlook
2.2. Segment Outlook
- 2.2.1. Power output
- 2.2.2. Power source
- 2.2.3. Type
- 2.2.4. Vessel type
- 2.2.5. Regional outlook
2.3. Competitive Insights

Chapter 3. Electric Ship Market Variables, Trends & Scope

3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
- 3.3.1. Market driver analysis
- 3.3.2. Market restraint analysis
- 3.3.3. Market opportunity analysis
3.4. Electric Ship Market Analysis Tools
- 3.4.1. Industry analysis - Porter's
  - 3.4.1.1. Supplier power
  - 3.4.1.2. Buyer power
  - 3.4.1.3. Substitution threat
  - 3.4.1.4. Threat of new entrant
  - 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL analysis
  - 3.4.2.1. Political landscape
  - 3.4.2.2. Technological landscape
  - 3.4.2.3. Economic landscape
  - 3.4.2.4. Social landscape

Chapter 4. Electric Ship Market : Power Output Estimates & Trend Analysis

4.1. Electric Ship Market: Key Takeaways
4.2. Electric Ship Market: Movement & Market Share Analysis, 2022 & 2030
4.3. <75 kW
- 4.3.1. <75 kW market estimates and forecasts, 2017 to 2030 (USD Million)
4.4. 75 kW-745kW
- 4.4.1. 75 kW-745kW market estimates and forecasts, 2017 to 2030 (USD Million)
4.5. 746 kW-7,560 kW
- 4.5.1. 746 kW-7,560 kW market estimates and forecasts, 2017 to 2030 (USD Million)
4.6. >7,560 kW
- 4.6.1. >7,560 kW market estimates and forecasts, 2017 to 2030 (USD Million)

Chapter 5. Electric Ship Market : Power Source Estimates & Trend Analysis

5.1. Electric Ship Market: Key Takeaways
5.2. Electric Ship Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Fully Electric
- 5.3.1. Fully Electric market estimates and forecasts, 2017 to 2030 (USD Million)
5.4. Hybrid
- 5.4.1. Hybrid market estimates and forecasts, 2017 to 2030 (USD Million)

Chapter 6. Electric Ship Market : Type Estimates & Trend Analysis

6.1. Electric Ship Market: Key Takeaways
6.2. Electric Ship Market: Movement & Market Share Analysis, 2022 & 2030
6.3. Semi Autonomous
- 6.3.1. Semi autonomous market estimates and forecasts, 2017 to 2030 (USD Million)
6.4. Fully Autonomous
- 6.4.1. Fully autonomous market estimates and forecasts, 2017 to 2030 (USD Million)

Chapter 7. Electric Ship: Vessel Type Estimates & Trend Analysis

7.1. Electric Ship Market: Key Takeaways
7.2. Electric Ship Market: Movement & Market Share Analysis, 2022 & 2030
7.3. Commercial Vessel
- 7.3.1. Commercial vessel market estimates and forecasts, 2017 to 2030 (USD Million)
7.4. Defense Vessel
- 7.4.1. Defense vessel market estimates and forecasts, 2017 to 2030 (USD Million)
7.5. Special Vessel
- 7.5.1. Special vessel market estimates and forecasts, 2017 to 2030 (USD Million)

Chapter 8. Electric Ship Market: Regional Estimates & Trend Analysis

8.1. Regional Outlook
8.2. Electric Ship Market by Region: Key Takeaway
8.3. North America
8.4. North America
- 8.4.1. North America Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 8.4.2. U.S.
  - 8.4.2.1. U.S. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 8.4.3. Canada
  - 8.4.3.1. Canada Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
8.5. Europe
- 8.5.1. Europe Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 8.5.2. UK
  - 8.5.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 8.5.3. Germany
  - 8.5.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 8.5.4. France
  - 8.5.4.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
8.6. Asia Pacific
- 8.6.1. Asia Pacific Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 8.6.2. Japan
  - 8.6.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 8.6.3. China
  - 8.6.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 8.6.4. India
  - 8.6.4.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 8.6.5. Australia
  - 8.6.5.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 8.6.6. South Korea
  - 8.6.6.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
8.7. Latin America
- 8.7.1. Latin America Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 8.7.2. Brazil
  - 8.7.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 8.7.3. Mexico
  - 8.7.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
8.8. MEA
- 8.8.1. MEA Market estimates and forecasts, 2018 to 2030 (Revenue, USD Million)
- 8.8.2. Saudi Arabia
  - 8.8.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 8.8.3. South Africa
  - 8.8.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 8.8.4. UAE
  - 8.8.4.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)

Chapter 9. Competitive Landscape

9.1. Recent Developments & Impact Analysis, By Key Market Participants
9.2. Market Participant Categorization
- 9.2.1. Boesch Motorboote AG
  - 9.2.1.1. Company overview
  - 9.2.1.2. Financial performance
  - 9.2.1.3. Product benchmarking
  - 9.2.1.4. Strategic initiatives
- 9.2.2. Bureau Veritas
  - 9.2.2.1. Company overview
  - 9.2.2.2. Financial performance
  - 9.2.2.3. Product benchmarking
  - 9.2.2.4. Strategic initiatives
- 9.2.3. Canadian Electric Boat Company
  - 9.2.3.1. Company overview
  - 9.2.3.2. Financial performance
  - 9.2.3.3. Product benchmarking
  - 9.2.3.4. Strategic initiatives
- 9.2.4. Corvus Energy
  - 9.2.4.1. Company overview
  - 9.2.4.2. Financial performance
  - 9.2.4.3. Product benchmarking
  - 9.2.4.4. Strategic initiatives
- 9.2.5. Yara
  - 9.2.5.1. Company overview
  - 9.2.5.2. Financial performance
  - 9.2.5.3. Product benchmarking
  - 9.2.5.4. Strategic initiatives
- 9.2.6. Duffy Electric Boat Company.
  - 9.2.6.1. Company overview
  - 9.2.6.2. Financial performance
  - 9.2.6.3. Product benchmarking
  - 9.2.6.4. Strategic initiatives
- 9.2.7. General Dynamics Electric Boat
  - 9.2.7.1. Company overview
  - 9.2.7.2. Financial performance
  - 9.2.7.3. Product benchmarking
  - 9.2.7.4. Strategic initiatives
- 9.2.8. KONGSBERG
  - 9.2.8.1. Company overview
  - 9.2.8.2. Financial performance
  - 9.2.8.3. Product benchmarking
  - 9.2.8.4. Strategic initiatives
- 9.2.9. Electrovaya
  - 9.2.9.1. Company overview
  - 9.2.9.2. Financial performance
  - 9.2.9.3. Product benchmarking
  - 9.2.9.4. Strategic initiatives
- 9.2.10. TRITON
  - 9.2.10.1. Company overview
  - 9.2.10.2. Financial performance
  - 9.2.10.3. Product benchmarking
  - 9.2.10.4. Strategic initiatives
- 9.2.11. VARD AS
  - 9.2.11.1. Company overview
  - 9.2.11.2. Financial performance
  - 9.2.11.3. Product benchmarking
  - 9.2.11.4. Strategic initiatives
- 9.2.12. Baltic Workboats AS
  - 9.2.12.1. Company overview
  - 9.2.12.2. Financial performance
  - 9.2.12.3. Product benchmarking
  - 9.2.12.4. Strategic initiatives

Product Code: GVR-4-68038-545-8

List of Tables

Table 1 List of abbreviation
Table 2 North America electric ship market, by power output, 2017 - 2030 (USD Million)
Table 3 North America electric ship market, by power source, 2017 - 2030 (USD Million)
Table 4 North America electric ship market, by type, 2017 - 2030 (USD Million)
Table 5 North America electric ship market, by vessel type, 2017 to 2030 (USD Million)
Table 6 North America electric ship market, by region, 2017 to 2030 (USD Million)
Table 7 U.S. electric ship market, by power output, 2017 - 2030 (USD Million)
Table 8 U.S. electric ship market, by power source, 2017 - 2030 (USD Million)
Table 9 U.S. electric ship market, by type, 2017 - 2030 (USD Million)
Table 10 U.S. electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 11 Canada electric ship market, by power output, 2017 - 2030 (USD Million)
Table 12 Canada electric ship market, by power source, 2017 - 2030 (USD Million)
Table 13 Canada electric ship market, by type, 2017 - 2030 (USD Million)
Table 14 Canada electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 15 Europe electric ship market, by power output, 2017 - 2030 (USD Million)
Table 16 Europe electric ship market, by power source, 2017 - 2030 (USD Million)
Table 17 Europe electric ship market, by type, 2017 - 2030 (USD Million)
Table 18 Europe electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 19 Europe electric ship market, by region, 2017 to 2030 (USD Million)
Table 20 Germany electric ship market, by power output, 2017 - 2030 (USD Million)
Table 21 Germany electric ship market, by power source, 2017 - 2030 (USD Million)
Table 22 Germany electric ship market, by type, 2017 - 2030 (USD Million)
Table 23 Germany electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 24 UK electric ship market, by power output, 2017 - 2030 (USD Million)
Table 25 UK electric ship market, by power source, 2017 - 2030 (USD Million)
Table 26 UK electric ship market, by type, 2017 - 2030 (USD Million)
Table 27 UK electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 28 France electric ship market, by power output, 2017 - 2030 (USD Million)
Table 29 France electric ship market, by power source, 2017 - 2030 (USD Million)
Table 30 France electric ship market, by type, 2017 - 2030 (USD Million)
Table 31 France electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 32 Asia Pacific electric ship market, by power output, 2017 - 2030 (USD Million)
Table 33 Asia Pacific electric ship market, by power source, 2017 - 2030 (USD Million)
Table 34 Asia Pacific electric ship market, by type, 2017 - 2030 (USD Million)
Table 35 Asia Pacific electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 36 Asia Pacific electric ship market, by region, 2017 to 2030 (USD Million)
Table 37 China electric ship market, by power output, 2017 - 2030 (USD Million)
Table 38 China electric ship market, by power source, 2017 - 2030 (USD Million)
Table 39 China electric ship market, by type, 2017 - 2030 (USD Million)
Table 40 China electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 41 Japan electric ship market, by power output, 2017 - 2030 (USD Million)
Table 42 Japan electric ship market, by power source, 2017 - 2030 (USD Million)
Table 43 Japan electric ship market, by type, 2017 - 2030 (USD Million)
Table 44 Japan electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 45 India electric ship market, by power output, 2017 - 2030 (USD Million)
Table 46 India electric ship market, by power source, 2017 - 2030 (USD Million)
Table 47 India electric ship market, by type, 2017 - 2030 (USD Million)
Table 48 India electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 49 Australia electric ship market, by power output, 2017 - 2030 (USD Million)
Table 50 Australia electric ship market, by power source, 2017 - 2030 (USD Million)
Table 51 Australia electric ship market, by type, 2017 - 2030 (USD Million)
Table 52 Australia electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 53 South Korea electric ship market, by power output, 2017 - 2030 (USD Million)
Table 54 South Korea electric ship market, by power source, 2017 - 2030 (USD Million)
Table 55 South Korea electric ship market, by type, 2017 - 2030 (USD Million)
Table 56 South Korea electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 57 Latin America electric ship market, by power output, 2017 - 2030 (USD Million)
Table 58 Latin America electric ship market, by power source, 2017 - 2030 (USD Million)
Table 59 Latin America electric ship market, by type, 2017 - 2030 (USD Million)
Table 60 Latin America electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 61 Latin America electric ship market, by region, 2017 to 2030 (USD Million)
Table 62 Brazil electric ship market, by power output, 2017 - 2030 (USD Million)
Table 63 Brazil electric ship market, by power source, 2017 - 2030 (USD Million)
Table 64 Brazil electric ship market, by type, 2017 - 2030 (USD Million)
Table 65 Brazil electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 66 Mexico electric ship market, by power output, 2017 - 2030 (USD Million)
Table 67 Mexico electric ship market, by power source, 2017 - 2030 (USD Million)
Table 68 Mexico electric ship market, by type, 2017 - 2030 (USD Million)
Table 69 Mexico electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 70 Middle East and Africa electric ship market, by power output, 2017 - 2030 (USD Million)
Table 71 Middle East and Africa electric ship market, by power source, 2017 - 2030 (USD Million)
Table 72 Middle East and Africa electric ship market, by type, 2017 - 2030 (USD Million)
Table 73 Middle East and Africa electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 74 Middle East and Africa electric ship market, by region, 2017 to 2030 (USD Million)
Table 75 South Africa electric ship market, by power output, 2017 - 2030 (USD Million)
Table 76 South Africa electric ship market, by power source, 2017 - 2030 (USD Million)
Table 77 South Africa electric ship market, by type, 2017 - 2030 (USD Million)
Table 78 South Africa electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 79 Saudi Arabia electric ship market, by power output, 2017 - 2030 (USD Million)
Table 80 Saudi Arabia electric ship market, by power source, 2017 - 2030 (USD Million)
Table 81 Saudi Arabia electric ship market, by type, 2017 - 2030 (USD Million)
Table 82 Saudi Arabia electric ship market, by vessel type, 2017 - 2030 (USD Million)
Table 83 UAE electric ship market, by power output, 2017 - 2030 (USD Million)
Table 84 UAE electric ship market, by power source, 2017 - 2030 (USD Million)
Table 85 UAE electric ship market, by type, 2017 - 2030 (USD Million)
Table 86 UAE electric ship market, by vessel type, 2017 - 2030 (USD Million)

List of Figures

Fig. 1 Market research process
Fig. 2 Data triangulation techniques
Fig. 3 Primary research pattern
Fig. 4 Market research approaches
Fig. 5 Value-chain-based sizing & forecasting
Fig. 6 QFD modeling for market share assessment
Fig. 7 Market formulation & validation
Fig. 8 Electric ship: Market outlook
Fig. 9 Electric ship: Competitive insights
Fig. 10 Parent market outlook
Fig. 11 Related/ancillary market outlook
Fig. 12 Penetration and growth prospect mapping
Fig. 13 Industry value chain analysis
Fig. 14 Electric ship market driver impact
Fig. 15 Electric ship market restraint impact
Fig. 16 Electric ship market strategic initiatives analysis
Fig. 17 Electric ship market: Power output movement analysis
Fig. 18 Electric ship market: Power output outlook and key takeaways
Fig. 19 <75 kW market estimates and forecasts, 2017 - 2030
Fig. 20 75 kW-745kW market estimates and forecasts, 2017 - 2030
Fig. 21 746 kW-7,560 kW market estimates and forecasts, 2017 - 2030
Fig. 22 >7,560 kW market estimates and forecasts, 2017 - 2030
Fig. 23 Electric ship market: Power source movement analysis
Fig. 24 Electric ship market: Power source outlook and key takeaways
Fig. 25 Fully Electric market estimates and forecasts, 2017 - 2030
Fig. 26 Hybrid market estimates and forecasts, 2017 - 2030
Fig. 27 Electric ship market: Type movement analysis
Fig. 28 Electric ship market: Type outlook and key takeaways
Fig. 29 Semi autonomous market estimates and forecasts, 2017 - 2030
Fig. 30 Fully autonomous market estimates and forecasts, 2017 - 2030
Fig. 31 Electric ship market: Vessel type movement analysis
Fig. 32 Electric ship market: Vessel type outlook and key takeaways
Fig. 33 Commercial vessel market estimates and forecasts, 2017 - 2030
Fig. 34 Defense Vessel market estimates and forecasts, 2017 - 2030
Fig. 35 Special vessel market estimates and forecasts, 2017 - 2030
Fig. 36 Global electric ship market: Regional movement analysis
Fig. 37 Global electric ship market: Regional outlook and key takeaways
Fig. 38 North America market estimates and forecasts, 2017 - 2030
Fig. 39 U.S. market estimates and forecasts, 2017 - 2030
Fig. 40 Canada market estimates and forecasts, 2017 - 2030
Fig. 41 Europe market estimates and forecasts, 2017 - 2030
Fig. 42 UK market estimates and forecasts, 2017 - 2030
Fig. 43 Germany market estimates and forecasts, 2017 - 2030
Fig. 44 France market estimates and forecasts, 2017 - 2030
Fig. 45 Asia Pacific market estimates and forecasts, 2017 - 2030
Fig. 46 Japan market estimates and forecasts, 2017 - 2030
Fig. 47 China market estimates and forecasts, 2017 - 2030
Fig. 48 India market estimates and forecasts, 2017 - 2030
Fig. 49 Australia market estimates and forecasts, 2017 - 2030
Fig. 50 South Korea market estimates and forecasts, 2017 - 2030
Fig. 51 Latin America market estimates and forecasts, 2017 - 2030
Fig. 52 Brazil market estimates and forecasts, 2017 - 2030
Fig. 53 Mexico market estimates and forecasts, 2017 - 2030
Fig. 54 Middle East and Africa market estimates and forecasts, 2017 - 2030
Fig. 55 Saudi Arabia market estimates and forecasts, 2017 - 2030
Fig. 56 South Africa market estimates and forecasts, 2017 - 2030
Fig. 57 UAE market estimates and forecasts, 2017 - 2030

Electric Ship Market Size, Share & Trends Analysis Report By Type (Semi Autonomous, Fully Autonomous), By Power Source (Fully Electric, Hybrid), By Power Output (<75 kW, 75 - 745 kW), By Vessel Type, By Region, And Segment Forecasts, 2023 - 2030

Description

Table of Contents

List of Tables

Electric Ship Market Growth & Trends:

Electric Ship Market Report Highlights:

Table of Contents

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Electric Ship Market Variables, Trends & Scope

Chapter 4. Electric Ship Market : Power Output Estimates & Trend Analysis

Chapter 5. Electric Ship Market : Power Source Estimates & Trend Analysis

Chapter 6. Electric Ship Market : Type Estimates & Trend Analysis

Chapter 7. Electric Ship: Vessel Type Estimates & Trend Analysis

Chapter 8. Electric Ship Market: Regional Estimates & Trend Analysis

Chapter 9. Competitive Landscape

List of Tables

List of Figures