Market Research Report
Electric Ships Global Market Report 2022
|Electric Ships Global Market Report 2022|
The Business Research Company
Content info: 175 Pages
Delivery time: 2-10 business days
“Electric Ships Global Market Report 2022 ” from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global electric ships market.
This report focuses on electric ships market which is experiencing strong growth. The report gives a guide to the electric ships market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
Where is the largest and fastest growing market for the electric ships? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The Electric Ships market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider electric ships market, and compares it with other markets.
Markets Covered: 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
5) By Range: Less Than 50Km
Companies Mentioned: ABB Ltd.; Wartsila; Vard (Finacntieri); Kongsberg; Norwegian Electric Systems AS
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Major players in the electric ship's market are: ABB Ltd, Wartsila, Kongsberg, Norwegian Electric Systems AS, Corvus Energy, General Dynamics Electric Boat, MAN Energy Solutions SE, Leclanche SA, Siemens AG, General Electric Company, Bureau Veritas, Canadian Electric Boat Company, Electrovaya Inc., Triton Submarines, Duffy Electric Boats, and Akasol AG.
The global electric ships market is expected to grow from $6.39 billion in 2021 to $7.12 billion in 2022 at a compound annual growth rate (CAGR) of 11.4%. The electric ships market is expected to grow to $11.06 billion in 2026 at a CAGR of 11.6%.
The electric ship market consists of sales of the electric ships by entities (organizations, sole traders, and partnerships) which refer to a ship that runs on a battery. Ships that run on electricity instead of traditional gasoline are known as electric ships. These ships abide by all environmental rules and do not endanger marine life. Electric propulsion systems are an environmentally friendly alternative to traditional fuel in inland navigation and large commerce ships.
The main types of electric ships are fully electric, and hybrid. A fully electric ship operates on electricity. Electrical power is used to propel propeller blades in electric propulsion systems. Electric propulsion has gained traction in a wide range of maritime applications across Europe and Japan in recent years, from commercial and research ships to fishing vessels. The mode of operation for these ships is manned, remotely operated, autonomous that using systems such as energy storage systems, power conversion, power generation, and power distribution. It requires power of less than 75kw, 75 to 150kw, 151 to 745kw, 746 to 7,560kw, Greater than 7,560kw that can cover a distance of less than 50km, 50 to 100km, 101 to 1000km, greater than 1,000km.
Western Europe was the largest region in the electric ship market in 2021. The regions covered in the electric ship market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The electric ships market research report is one of a series of new reports from The Business Research Company that provides electric ships market statistics, including electric ships industry global market size, regional shares, competitors with a electric ships market share, detailed electric ships market segments, market trends and opportunities, and any further data you may need to thrive in the electric ships industry. This electric ships market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rise in the adoption of hybrid and electric propulsion for retrofitting ships is anticipated to drive the growth of the electric ship market. An eco-friendly ship's electric propulsion system is a hybrid system that uses dual-fuel engines, batteries, and fuel cells as multiple power sources. However, technologies such as fuel storage facilities, gas vaporizers, and battery thermal runaway avoidance must all be developed concurrently to apply these power sources to ships. For instance, in February 2021, the 2030 Green Ship-K Promotion Strategy, which is a key component of South Korea's aims to become carbon-neutral by 2050, focuses on the advancement and widespread use of low-carbon ship technologies, such as hydrogen fuel cells and propulsion systems. The initiative's goal is to reduce the country's shipping greenhouse gas emissions by 40% in the next 25 years, and 70% by 2050. Furthermore, Kawasaki has received its first order for large-capacity battery propulsion systems for coastal ships. Large-capacity lithium-ion (Li-ion) marine batteries, a propulsion control system, and an electric power management system are all part of the battery propulsion system. In addition, in February 2019, Wartsila signed a contract for a hybrid retrofit installation with Hagland Maritime AS, an international shipping firm. The ship's environmental performance will be greatly improved with the installation of a Wartsila battery hybrid propulsion technology, which will reduce pollutants, fuel consumption, and noise.
Technological advancements are shaping the electric ship market. The welding consumables market is increasing its demand by introducing and applying new technologies and their updated software for the industries. The automotive industry is increasingly focusing on integrating smarter and safer safety systems into vehicles for better safety in different terrains and conditions. For instance, in November 2021, The Yara Birkeland, the world's first electric and self-propelled container ship with zero emissions, had its first journey in the Oslo fjord. Yara Birkeland is a multi-actor project in which KONGSBERG is in charge of the development and delivery of all newly created technologies on the ship. Massterlys' monitoring and operations center in Horten will be in charge of the ship. KONGSBERG and Wilhelmsen have teamed up to form Massterly.
In October 2021, Groupe Beneteau, a French company involved in building sailing yachts and motorboats for all types of boating practices, acquired Starfisher, for an undisclosed amount. This acquisition will allow Beneteau to expand its small motorboat production capacity and create a presence in Portugal, in addition to the three other plants dedicated to these markets in Poland and the United States. Starfisher is a Portuguese company that designs and builds two types of motorboats, from 6 to 12 meters in length, pleasure-fishing boats, and recreational cruisers.
The countries covered in the electric ships market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.