PUBLISHER: Polaris Market Research | PRODUCT CODE: 1786873
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1786873
The electric ship pod drives market size is expected to reach USD 2,150.20 Million by 2034, according to a new study by Polaris Market Research. The report "Electric Ship Pod Drives Market Share, Size, Trends, Industry Analysis Report: By Propulsion Type (Azimuth Thrusters, Cycloidal Propellers), By Power Rating, By Installation Type, By Control System, By End User, and By Region; Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Electric ship pod drives are integrated propulsion systems that combine electric motors with steerable thrusters to offer maneuverability, better fuel efficiency and less noise. These drives serve as a modern marine engineering while enhancing agility for vessels.
Electric pod drives allow naval architects, shipbuilders and marine operators to streamline vessel design and improve performance with 360 degree thrust control, compact modular design and compatibility with hybrid or fully electric propulsion. In addition to propulsion, these systems help with regulatory compliance, integration with autonomous navigation and enhance cost efficiency of the vessel.
In terms of installation type, the new build vessels segment held the dominant market share in 2024, as shipbuilders increasingly incorporate electric pod propulsion systems during initial design and construction phases.
Based on control systems, the semi-automatic control segment is expected to register significant CAGR growth, offering an optimal balance between manual oversight and automated functionality for marine operations.
Europe's electric ship pod drives industry captured the largest revenue share in 2024, supported by advanced maritime infrastructure, stringent environmental regulations, and pioneering adoption of sustainable propulsion technologies.
The Asia Pacific market is projected to achieve substantial revenue share by 2034, driven by naval modernization initiatives, fleet upgrades, and strategic investments in next-generation port infrastructure.
A few global key market players include ABB Ltd., Siemens Energy AG, General Electric Company, Schottel GmbH, Rolls-Royce Holdings plc, Wartsila Corporation, Voith Group, BAE Systems plc, Thrustmaster of Texas Inc., Veth Propulsion, Nidec Industrial Solutions, and Marine Jet Power AB.
Polaris Market Research has segmented the market report on the basis of propulsion type, power rating, installation type, control system, end user, and region:
By Propulsion Type Outlook (Revenue, USD Million, 2020-2034)
Azimuth Thrusters
Cycloidal Propellers
Rim Drive Systems
Fixed Pod Drives
By Power Rating Outlook (Revenue, USD Million, 2020-2034)
Below 5MW
5-15MW
15-30MW
Above 30MW
By Installation Type Outlook (Revenue, USD Million, 2020-2034)
New Build Vessels
Retrofit Applications
Upgrade Projects
Replacement Systems
Emergency Installations
By Control System Outlook (Revenue, USD Million, 2020-2034)
Manual Control
Semi-Automatic Systems
Fully Automatic Control
By End User Type Outlook (Revenue, USD Million, 2020-2034)
Commercial Shipping
Naval Defense
Offshore Energy
Passenger Transport
Research Organizations
Government Agencies
By Regional Outlook (Revenue, USD Million, 2020-2034)
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Vietnam
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of Middle East & Africa
Latin America
Mexico
Brazil
Argentina
Rest of Latin America