Electric Ships Market

Electric Ships Market by Power Source (Fully Electric, Hybrid, Plug-In Hybrid), Autonomy (Manned electric ships, Remotely-operated, Fully Autonomous), Ship Type (Bulk Carrier, Gas Tanker, Tankers, Barge, Passenger Cruise, Aircraft Carrier, Amphibious, Destroyer, Frigate) and Region - Global Forecast to 2030

Report Code: AS 7444 Nov, 2019, by marketsandmarkets.com

[204 Pages Report] The global electric ships market size is projected to grow from USD 5.2 billion in 2019 to USD 15.6 billion by 2030, at a CAGR of 13.2% from 2025 to 2030. (Two forecast periods, i.e., 2019 to 2025 and 2025 to 2030 are considered in this market report, as the adoption of electric propulsion systems is estimated to grow at a higher rate post-2025). Some of the factors that are expected to fuel the growth of the electric ships are the International Maritime Organization’s ruling on reducing sulfur emissions, effective from 1st January 2020, and wide adoption of fully electric passenger vessels.

Kongsberg (Norway), ABB (Switzerland), Wartsila (Finland), Norwegian Electric Systems as (Norway), Corvus Energy (Canada), General Dynamics Electric Boat (US), MAN Energy Solutions SE (Germany), Vard (Norway), Siemens (Germany), and Leclanchι SA (Switzerland), among others are some of the players focusing on developing new electric ships with advanced features such as autonomous and remotely modes of operation, use of fuel cells, and solar power for providing power to ships, and fully electric propulsion for large ships among others. There are opportunities for innovative companies to manufacture lightweight, high-density marine lithium batteries.

Electric Ships Market

Based on the system, the power conversion segment of the electric ships is projected to grow at the highest CAGR during the forecast period.

Based on the system, the power conversion segment of the electric ships market is projected to grow at the highest CAGR from 2019 to 2025 and from 2025 to 2030. In the next few years, more cargo and passengers will be transported on electric ships. This increases the demand for power semiconductor devices, as ships could not sail electrically without the power semiconductor devices in their powertrain. ABB, Kongsberg, Wartsila, and Siemens, among others, are some of the electric and hybrid propulsion manufacturers. These companies use converters with components in their systems and engines, and they convert direct current from batteries to alternating current for engines.

Based on the mode of operation, the manned segment is expected to lead the electric ships market from 2019 to 2030.

Based on the mode of operation, the electric ships market is segmented into manned, remotely operated, and autonomous. The growth of the manned segment can be attributed to the high demand for electric and hybrid propulsion systems by commercial ships, including cruise ships, ferries, cargo ships, and container ships, among others. There is a large retrofit market potential for manned cargo vessels, as almost all cargo vessels currently operate with a crew.

Electric Ships Market

Electric ships market in Europe is projected to grow at the highest CAGR from 2019 to 2025.

Based on region, the electric ships market in Europe is projected to grow at the highest CAGR during the forecast period, due to the increase in demand for electric ships for fully electric passenger vessels, tugs, yachts, and cruise vessels, among others. Countries such as Norway, Finland, and Denmark have actively started replacing conventional passenger ferries with fully electric passenger ferries. Major developments in autonomous electric vessels that use fuel cells and remotely controlled electric vessels are also driving the market in Europe to grow.

Key Market Players

The major players in the electric ships market are Kongsberg (Norway), ABB (Switzerland), Wartsila (Finland), Norwegian Electric Systems AS (Norway), Corvus Energy (Canada), General Dynamics Electric Boat (US), MAN Energy Solutions SE (Germany) Vard (Norway), Siemens (Germany), and Leclanchι SA (Switzerland), among others among others. These players have adopted various growth strategies such as contracts, acquisitions, expansions, new product launches, and partnerships & agreements to expand their presence in the electric ships market further.

Scope of the Report

Report Metric

Details

Market size available for years

2017–2030

Base year considered

2018

Forecast period

2019–2030

Forecast monetary unit

Value (USD)

Segments covered

Type, Ship type, End-Use, Mode of Operation, System, Range, Power, and Region

Regions covered

North America, Europe, Asia Pacific, and Rest of the World

Companies covered

Norwegian Electric Systems AS (Norway), Corvus Energy (Canada), General Dynamics Electric Boat (US), MAN Energy Solutions SE (Germany), Vard (Norway), Siemens (Germany), and Leclanchι SA (Switzerland), among others.

This research report categorizes the electric ships market based on type, ship type, end-use, mode of operation, system, range, power, and region.

Based on the System

  • Energy Storage Systems
  • Power Conversion
  • Power Generation
  • Power Distribution Systems

Based on End-Use

  • Newbuild & Line Fit
  • Retrofit

Based on Type

  • Fully Electric
    • Lithium Battery
    • Lead Acid Battery
    • Electro-solar
    • Fuel Cells
  • Hybrid
    • Diesel & Battery-driven
    • LPG/LNG & Battery-driven

Based on the mode of operation:

  • Manned
  •  Remotely Operated
  • Autonomous

Based on power (kW):

  • <75 kW
  • 75–150 kW
  • 151–745 kW
  • 746–7,560 kW
  • >7,560 kW

Based on the Range (km):

  • <50 km
  • 50–100 km
  • 101–1,000 km
  •  >1,000 km

Based on Ship Type:

  • Commercial
    • Passenger Vessels
      • Yachts
      •  Ferries
      • Cruise Ships
    • Cargo vessels
      • Container Vessels
      •  Bulk Carriers
      •  Tankers
      • General Cargo Ships
    • Others
      • Fishing Vessels
      • Dredgers
      • Tugs & Workboats
      • Research Vessels
      • Submarines
  • Defense
    • Destroyers
    • Frigates
    • Corvettes
    • Offshore Support Vessels (OSV)
    • Aircraft Carriers
    • Submarines

Based on the Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Key Questions Addressed by the Report

  • What are your views on the growth perspective of the electric ships? What are key dynamics such as drivers and opportunities, and trends that govern the market?
  • What are the key sustainability strategies adopted by leading players operating in the electric ships?
  • What are the new emerging technologies and use cases disrupting the electric ships market?
  • What are the applications, wherein electric ships for commercial use play a significant role?
  • What are the key trends and opportunities in electric ships across different regions and their respective countries?
  • Who are the key players and innovators in the ecosystem of the electric ships?
  • Which supplier of electric ships had a maximum share in the market in 2019?
  • How is the competitive landscape changing in the client ecosystem and is impacting the revenues of companies?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 23)
    1.1 Objectives of the Study
    1.2 Market Definition
           1.2.1 Markets Covered
           1.2.2 Regional Scope
           1.2.3 Years Considered for the Study
    1.3 Currency & Pricing
    1.4 Limitations
    1.5 Market Stakeholders

2 Research Methodology (Page No. - 27)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
    2.2 Market Definition & Scope
           2.2.1 Primary Data
                    2.2.1.1 Key Data From Primary Sources
                    2.2.1.2 Breakdown of Primaries
           2.2.2 Segment Definitions
                    2.2.2.1 Electric Ships Market, By System
                    2.2.2.2 Electric Ship Market, By End Use
                    2.2.2.3 Electric Ship Market, By Type
                    2.2.2.4 Electric Ship Market, By Mode of Operation
                    2.2.2.5 Electric Ship Market, By Power (kW)
                    2.2.2.6 Electric Ship Market, By Range (Km)
                    2.2.2.7 Electric Ship Market, By Ship Type
           2.2.3 Exclusions
    2.3 Market Size Estimation & Methodology
           2.3.1 Top-Down Approach
    2.4 Data Triangulation
           2.4.1 Market Sizing & Forecasting
    2.5 Limitations

3 Executive Summary (Page No. - 36)

4 Premium Insights (Page No. - 40)
    4.1 Attractive Growth Opportunities in Electric Ships Market
    4.2 Hybrid Ships Market, By Type
    4.3 Electric Ship Market, By Range
    4.4 Electric Ship Market, By Ship Type
    4.5 Commercial Electric Ship Market, By Type
    4.6 Electric Ship Market, By Region

5 Market Overview (Page No. - 43)
    5.1 Introduction
    5.2 Roadmap of Marine Electrification
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Implementation of Sulfur 2020 Rule
                    5.3.1.2 Hybrid and Electric Propulsion Technology Catering to the Retrofit Market
                    5.3.1.3 Increase in Seaborne Trade Across the Globe
                    5.3.1.4 Growing Maritime Tourism Industry
                    5.3.1.5 Development of Lithium-Ion Batteries
           5.3.2 Restraints
                    5.3.2.1 Long Downtime During Retrofitting Ships Causes High Cost and Loss Revenue
                    5.3.2.2 Limited Range and Capacity of Fully-Electric Ships
           5.3.3 Challenges
                    5.3.3.1 Inadequate Charging Infrastructure
                    5.3.3.2 High Initial Capital Expenditure Cost
           5.3.4 Opportunity
                    5.3.4.1 Potential for Marine Battery Manufacturers to Manufacture High Powered Batteries
                    5.3.4.2 Potential for Battery Charging Via Renewable Sources of Energy for Onboard Ship
                    5.3.4.3 Hybrid Propulsion Technology for Large Ships

6 Industry Trends (Page No. - 55)
    6.1 Introduction
    6.2 Roadmap Towards Emission Free Shipping Industry
    6.3 Phasing of Marine Propulsion Technologies
    6.4 Value Chain Analysis
    6.5 Key Autonomous Ships Development Projects
           6.5.1 Rolls-Royce Marine –
           6.5.2 Kongsberg and Yara – 2020
           6.5.3 Japanese Consortium – 2025
    6.6 Emerging Trends
           6.6.1 Electrification of Leisure Boats
           6.6.2 Potential of Hybrid Technology
           6.6.3 Fully Electric Ferries for Passenger Transport
           6.6.4 Solar Sails
           6.6.5 Advanced Batteries for Electric Ships
           6.6.6 Potential of Hydrogen as A Zeo Emisson Fuel for the Shipping Industry
    6.7 Innovations & Patent Registrations

7 Electric Ships Market, By Type (Page No. - 63)
    7.1 Introduction
    7.2 Fully Electric
           7.2.1 Lithium Battery
                    7.2.1.1 Lithium Batteries are Major Power Source for Hybrid and Fully Electric Vessels
           7.2.2 Lead Acid Battery
                    7.2.2.1 Wide Range of Applications in the Marine Sector Increases the Demand for Lead Acid Batteries
           7.2.3 Electro-Solar
                    7.2.3.1 Rapid Development of Electro-Solar Technology for Charging Batteries On-Board Ships
           7.2.4 Fuel Cells
                    7.2.4.1 Growing Investment in A New Fuel Cell Technology
    7.3 Hybrid
           7.3.1 Diesel & Battery-Driven
                    7.3.1.1 Significant Advancements in Hybrid Technology have Allowed Adoption of Hybrid-Electric Propulsion for Large Cruise Ships
           7.3.2 LPG/LNG & Battery-Driven
                    7.3.2.1 Adopting Liquefied Natural Gas (LNG) as Fuel for Ships

8 Electric Ships Market, By System (Page No. - 70)
    8.1 Introduction
    8.2 Energy Storage Systems
           8.2.1 <1,000 kW
                    8.2.1.1 Rising Demand for Small Ships
           8.2.2 1,001–5,000 kW
                    8.2.2.1 Rise in Retrofitting of Large Vessels
           8.2.3 >5,000 kW
                    8.2.3.1 Rise in Large Container and Cargo Ships for Retrofitting
    8.3 Power Conversion
    8.4 Power Generation
           8.4.1 Generators
                    8.4.1.1 Rise in Demand for Electric Propulsion
           8.4.2 Engines
                    8.4.2.1 Rise in Demand for Retrofitting Hybrid Propulsion
           8.4.3 Propulsion Motors
                    8.4.3.1 Industry Majorly Focusing on Electric Motor Drives and Propulsion Motors
    8.5 Power Distribution

9 Electric Ships Market, By Mode of Operation (Page No. - 77)
    9.1 Introduction
    9.2 Manned
           9.2.1 Large Retrofit Market Potential for Manned Cargo Vessels is Expected to Drive the Market for Electric Ships
    9.3 Remotely Operated
           9.3.1 Increasing Investments in Remotely Operated Ships Will Drive the Electric Ships Market
    9.4 Autonomous
           9.4.1 Increasing Investments is Driving the Market for Autonomous Electric Ships

10 Electric Ships Market, By Ship Type (Page No. - 81)
     10.1 Introduction
     10.2 Commercial
             10.2.1 Passenger Vessels
                        10.2.1.1 Yachts
                        10.2.1.2 Ferries
                        10.2.1.3 Cruise Ships
             10.2.2 Cargo Vessels
                        10.2.2.1 Container Vessels
                        10.2.2.2 Bulk Carriers
                        10.2.2.3 Tankers
                        10.2.2.4 General Cargo Ships
             10.2.3 Others
                        10.2.3.1 Fishing Vessels
                        10.2.3.2 Dredgers
                        10.2.3.3 Tugs & Workboats
                        10.2.3.4 Research Vessels
                        10.2.3.5 Submarines
     10.3 Defense
             10.3.1 Destroyers
             10.3.2 Frigates
             10.3.3 Corvettes
             10.3.4 Offshore Support Vessels (OSV)
             10.3.5 Aircraft Carriers
             10.3.6 Submarines

11 Electric Ships Market, By Power (Page No. - 89)
     11.1 Introduction
     11.2 <75 kW
             11.2.1 Demand for Fully Electric Yachts in the European Region to Drive the Electric Ships Market
     11.3 76–150 kW
             11.3.1 Use of Fully Electric Ferries for Transport Will Drive the Market
     11.4 151–745 kW
             11.4.1 Large Retrofit Potential for Cargo Vessels in the 151–745 kW Range
     11.5 746–7,560 kW
             11.5.1 Increased Investment in Hybrid-Electric Propulsion Systems Drive the Market for Electric Ships
             11.5.2 Adoption of Hybrid-Electric Propulsion Systems is Challenging in Ships With High Power Capacity

12 Electric Ships Market, By Range (Page No. - 93)
     12.1 Introduction
     12.2 <50 Km
             12.2.1 Adoption of Fully Electric Passenger Ferries and Tugs Drive the Demand for Electric Ships
     12.3 51–100 Km
             12.3.1 Demand for Fully Electric Container Ships Will Drive the Demand for Electric Propulsion
     12.4 100–1,000 Km
             12.4.1 Retrofit of Cargo Vessels to Drive the Market for Electric Ships
     12.5 >1,000 Km
             12.5.1 Increased Investment in Hybrid-Electric Propulsion Systems Will Bear Fruit as the Adoption Rate Increases for Long-Voyage Ships

13 Electric Ships Market, By End Use (Page No. - 96)
     13.1 Introduction
     13.2 Newbuild & Line Fit
             13.2.1 High Demand for Fully Electric Ferries in Europe is Expected to Drive the Market for Electric Ships
     13.3 Retrofit
             13.3.1 Ship Owners Update Or Retrofit Equipment Installed on Existing Vessels to Increase Their Efficiency and Extend Their Durability

14 Regional Analysis (Page No. - 100)
     14.1 Introduction
     14.2 North America
             14.2.1 US
                        14.2.1.1 Increasing Demand for Luxury Sailing Will Raise the Adoption of Electric Boats
             14.2.2 Canada
                        14.2.2.1 Canada Government’s Strategic Decision to Develop Its Indigenous Marine Industry to Grow the Market
     14.3 Europe
             14.3.1 Norway
                        14.3.1.1 Implementation of Imo Rule is Major Factor Driving the Adoption of Hybrid Or Electric Driven Propulsion in the Shipping Industry in Norway
             14.3.2 Greece
                        14.3.2.1 Stringent Imo 2020 Rule is Driving the Demand for Electric Ships in Greece
             14.3.3 Netherlands
                        14.3.3.1 Push Toward Using Zero-Emission Ships are Driving the Electric Ships Market in the Netherlands
             14.3.4 France
                        14.3.4.1 Presence of Stringent Regulations Drive the Demand for Electric Ships in France
                        14.3.4.2 Rest of Europe
     14.4 Asia Pacific
             14.4.1 China
                        14.4.1.1 Presence of Several Shipbuilding Companies in China Boost the Growth of the Electric Ships Market in the Country
             14.4.2 South Korea
                        14.4.2.1 Adoption of Fuel Cells for the Development of Ships and the Aim Towards Achieving A Hydrogen Economy are Expected to Fuel Electric Ships Market in South Korea
             14.4.3 Japan
                        14.4.3.1 Focus on Reducing Greenhouse Gas Emissions From International Shipping is Supporting the Growth of Electric Ships Market in Japan
             14.4.4 New Zealand
                        14.4.4.1 There is A Switch From Diesel Driven Ships to Electric Ships in New Zealand to Reduce Operational Costs
             14.4.5 Rest of Asia Pacific
                        14.4.5.1 Development of Electric Passenger Ferries is Expected to Fuel the Growth of Electric Ships in Rest of Asia Pacific
     14.5 Rest of the World
             14.5.1 Latin America
                        14.5.1.1 Large Fleet Size of Ships in Latin America Encourages Adoption of Hybrid Propulsion
             14.5.2 Middle East & Africa
                        14.5.2.1 Retrofitting Existing Fleet Size of Ships is Driving the Electric Ships Market in Middle East & Africa

15 Competitive Landscape (Page No. - 136)
     15.1 Introduction
     15.2 Major Players, 2018
     15.3 Competitive Scenario
     15.4 Competitive Leadership Mapping
             15.4.1 Visionary Leaders
             15.4.2 Innovators
             15.4.3 Dynamic Differentiators
             15.4.4 Emerging Companies
     15.5 Strength of Product Portfolio
     15.6 Business Startegy Excellance
     15.7 Competitive Scenario
             15.7.1 New Product Launches
             15.7.2 Contracts
             15.7.3 Expansions & Acquisitions
             15.7.4 Partnerships, Agreements, Joint Ventures and Collaborations

16 Company Profiles (Page No. - 147)
(Business Overview, Products/Services Offered, Customers and Application Areas, Unique Value Proposition and Right to Win, SWOT Analysis, and MnM View)*
     16.1 ABB
     16.2 Wartsila
     16.3 Kongsberg Gruppen
     16.4 General Electric (GE)
     16.5 Vard (Fincantieri)
     16.6 Siemens
     16.7 Leclanchι SA
     16.8 Bae Systems
     16.9 Norwegian Electric Systems as (Havyard Group ASA)
     16.10 Man Energy Solutions Se (Traton Group)
     16.11 Corvus Energy
     16.12 Echandia Marine AB
     16.13 General Dynamics Electric Boat
     16.14 Anglo Belgian Corporation (ABC) NV
     16.15 Schottel GmbH
     16.16 Visedo (Danfoss)
     16.17 ECO Marine Power Co Ltd.
     16.18 Akasol AG
     16.19 EST Floattech
     16.20 Saft (Total)

*Details on Business Overview, Products/Services Offered, Customers and Application Areas, Unique Value Proposition and Right to Win, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

17 Appendix (Page No. - 199)
     17.1 Discussion Guide
     17.2 Knowledge Store: Marketsandmarkets™ Subscription Portal
     17.3 Available Customizations
     17.4 Related Reports
     17.5 Author Details


List of Tables (132 Tables)

Table 1 USD Exchange Rates
Table 2 Research Assumptions
Table 3 Milestones of the Implementation Plan for Electrification in Marine Transport (2025-2035-2050)
Table 4 Sulfur Content Regulations in Bunker Fuel
Table 5 Current Battery Capacity and Requirements of Some Ships
Table 6 Capital Expenditure, Savings, and Payback
Table 7 Capital Expenditure, Savings, and Payback
Table 8 Capital Expenditure, Savings, and Payback
Table 9 Relative Feasibility of Different Energy-Storage Technologies
Table 10 Innovations & Patent Registrations, 2016–2019
Table 11 Electric Ships Market Size, By Type, 2017—2030 (USD Million)
Table 12 Global All Electric Ships Projects
Table 13 Ongoing Fuel Cell Projects in Shipping Industry
Table 14 Electric Ship Market Size, By System, 2017—2030 (USD Million)
Table 15 Comparison Between Principle Energy Storage Systems(Ess)
Table 16 Energy Storage Systems Market Size, By Wattage, 2017—2030 (USD Million)
Table 17 Electric Propulsion Ship (8,444G/T, Cement Carrying Vessel) and Existing Ship: Comparison
Table 18 Market Size, By Mode of Operation, 2017—2030 (USD Million)
Table 19 Market Size, By Ship Type, 2017—2030 (USD Million)
Table 20 Commercial Market Size, By Type, 2017—2030 (USD Million)
Table 21 Commercial Market Size, By Passenger Vessel, 2017—2030 (USD Million)
Table 22 Commercial Market Size, By Cargo Vessel, 2017—2030 (USD Million)
Table 23 Commercial Market Size, Other Vessel, 2017—2030 (USD Million)
Table 24 Defense Electric Ships Market Size, By Type, 2017—2030 (USD Million)
Table 25 Electric Ship Market Size, By Power, 2017—2030 (USD Million)
Table 26 Market Size, By Range, 2017—2030 (USD Million)
Table 27 Market Size, By End Use, 2017—2030 (USD Million)
Table 28 Newbuild & Line Fit Electric Ships Market Size, By Shipbuilding, 2017—2030 (USD Million)
Table 29 Electric Ship Market Size, By Region, 2017—2030 (USD Million)
Table 30 North America: Market Size, By Type, 2017—2030 (USD Million)
Table 31 North America: Fully Market Size, By Power Source, 2017–2030 (USD Million)
Table 32 North America: Hybrid Ships Market Size, By Power Source, 2017—2030 (USD Million)
Table 33 North America: Electric Ship Market Size, By Ship Type, 2017—2030 (USD Million)
Table 34 North America: Commercial Market Size, By Type, 2017–2030 (USD Million)
Table 35 North America: Commercial Market Size, By Passenger Vessel, 2017—2030 (USD Million)
Table 36 North America: Commercial Market Size, By Cargo Vessel, 2017—2030 (USD Million)
Table 37 North America: Commercial Market Size, By Other Vessel, 2017—2030 (USD Million)
Table 38 North America: Electric Ships Market Size, By Mode of Operation, 2017—2030 (USD Million)
Table 39 North America: Electric Ship Market Size, By End Use, 2017—2030 (USD Million)
Table 40 North America: Market Size, By Range, 2017—2030 (USD Million)
Table 41 North America: Market Size, By Power, 2017—2030 (USD Million)
Table 42 North America: Market Size, By Country, 2017—2030 (USD Million)
Table 43 US: Market Size, By Type, 2017—2030 (USD Million)
Table 44 US: Electric Ship Market Size, By Ship Type, 2017—2030 (USD Million)
Table 45 US: Market Size, By Investment, 2017—2030 (USD Million)
Table 46 Canada: Market Size, By Type, 2017—2030 (USD Million)
Table 47 Canada: Market Size, By Ship Type, 2017—2030 (USD Million)
Table 48 Canada: Market Size, By Investment, 2017—2030 (USD Million)
Table 49 Europe: Market Size, By Type, 2017–2030 (USD Million)
Table 50 Europe: Fully Electric Ship Market Size, By Power Source, 2017–2030 (USD Million)
Table 51 Europe: Hybrid Ship Market Size, By Power Source, 2017–2030 (USD Million)
Table 52 Europe: Market Size, By Ship Type, 2017–2030 (USD Million)
Table 53 Europe: Commercial Market Size, By Type, 2017–2030 (USD Million)
Table 54 Europe: Commercial Market Size, By Passenger Vessel, 2017–2030 (USD Million)
Table 55 Europe: Commercial Market Size, By Cargo Vessel, 2017–2030 (USD Million)
Table 56 Europe: Commercial Market Size, By Other Vessel, 2017–2030 (USD Million)
Table 57 Europe: Electric Ship Market Size, By Mode of Operation, 2017–2030 (USD Million)
Table 58 Europe: Market Size, By End Use, 2017–2030 (USD Million)
Table 59 Europe: Market Size, By Range, 2017–2030 (USD Million)
Table 60 Europe: Market Size, By Power, 2017–2030 (USD Million)
Table 61 Europe: Market Size, By Country, 2017–2030 (USD Million)
Table 62 Norway: Electric Ship Market Size, By Type, 2017–2030 (USD Million)
Table 63 Norway: Market Size, By Ship Type, 2017–2030 (USD Million)
Table 64 Norway: Market Size, By End Use, 2017–2030 (USD Million)
Table 65 Greece: Market Size, By Type, 2017–2030 (USD Million)
Table 66 Greece: Market Size, By Ship Type, 2017–2030 (USD Million)
Table 67 Greece: Market Size, By End Use, 2017–2030 (USD Million)
Table 68 Netherlands: Electric Ship Market Size, By Type, 2017–2030 (USD Million)
Table 69 Netherlands: Market Size, By Ship Type, 2017–2030 (USD Million)
Table 70 Netherlands: Market Size, By End Use, 2017–2030 (USD Million)
Table 71 France: Electric Ship Market Size, By Type, 2017–2030 (USD Million)
Table 72 France: Market Size, By Ship Type, 2017–2030 (USD Million)
Table 73 France: Market Size, By End Use, 2017–2030 (USD Million)
Table 74 Rest of Europe: Market Size, By Type, 2017–2030 (USD Million)
Table 75 Rest of Europe: Market Size, By Ship Type, 2017–2030 (USD Million)
Table 76 Rest of Europe: Market Size, By End Use, 2017–2030 (USD Million)
Table 77 Asia Pacific: Electric Ship Market Size, By Type, 2017–2030 (USD Million)
Table 78 Asia Pacific: Fully Market Size, By Power Source, 2017–2030 (USD Million)
Table 79 Asia Pacific: Hybrid Ships Market Size, By Power Source, 2017–2030 (USD Million)
Table 80 Asia Pacific: Electric Ship Market Size, By Ship Type, 2017–2030 (USD Million)
Table 81 Asia Pacific: Commercial Market Size, By Type, 2017–2030 (USD Million)
Table 82 Asia Pacific: Commercial Market Size, By Passenger Vessel, 2017–2030 (USD Million)
Table 83 Asia Pacific: Commercial Market Size, By Cargo Vessel, 2017–2030 (USD Million)
Table 84 Asia Pacific: Commercial Market Size, By Other Vessel, 2017–2030 (USD Million)
Table 85 Asia Pacific: Market Size, By Mode of Operation, 2017–2030 (USD Million)
Table 86 Asia Pacific: Market Size, By End Use, 2017–2030 (USD Million)
Table 87 Asia Pacific: Market Size, By Range, 2017–2030 (USD Million)
Table 88 Asia Pacific: Market Size, By Power, 2017–2030 (USD Million)
Table 89 Asia Pacific: Market Size, By Country, 2017–2030 (USD Million)
Table 90 China: Electric Ships Market Size, By Type, 2017–2030 (USD Million)
Table 91 China: Market Size, By Ship Type, 2017–2030 (USD Million)
Table 92 China: Market Size, By End Use, 2017–2030 (USD Million)
Table 93 South Korea: Market Size, By Type, 2017–2030 (USD Million)
Table 94 South Korea: Market Size, By Ship Type, 2017–2030 (USD Million)
Table 95 South Korea: Electric Ships Market Size, By End Use, 2017–2030 (USD Million)
Table 96 Japan: Market Size, By Type, 2017–2030 (USD Million)
Table 97 Japan: Market Size, By Ship Type, 2017–2030 (USD Million)
Table 98 Japan: Market Size, By End Use, 2017–2030 (USD Million)
Table 99 New Zealand: Market Size, By Type, 2017–2030 (USD Million)
Table 100 New Zealand: Market Size, By Ship Type, 2017–2030 (USD Million)
Table 101 New Zealand: Market Size, By End Use, 2017–2030 (USD Million)
Table 102 Rest of Asia Pacific: Market Size, By Type, 2017–2030 (USD Million)
Table 103 Rest of Asia Pacific: Market Size, By Ship Type, 2017–2030 (USD Million)
Table 104 Rest of Asia Pacific: Market Size, By End Use, 2017–2030 (USD Million)
Table 105 Rest of the World: Market Size, By Type, 2017—2030 (USD Million)
Table 106 Rest of the World: Fully Electric Ships Market Size, By Power Source, 2017—2030 (USD Million)
Table 107 Rest of the World: Hybrid Ships Market Size, By Power Source, 2017—2030 (USD Million)
Table 108 Rest of the World: Market Size, By Ship Type, 2017—2030 (USD Million)
Table 109 Rest of the World: Commercial Market Size, By Type, 2017—2030 (USD Million)
Table 110 Rest of the World: Commercial Electric Ship Market Size, By Passenger Vessel, 2017—2030 (USD Million)
Table 111 Rest of the World: Commercial Electric Ships Market Size, By Cargo Vessel, 2017–2030 (USD Million)
Table 112 Rest of the World: Commercial Electric Ship Market Size, By Other Vessel, 2017–2030 (USD Million)
Table 113 Rest of the World: Market Size, By Mode of Operation, 2017—2030 (USD Million)
Table 114 Rest of the World: Market Size, By End Use, 2017—2030 (USD Million)
Table 115 Rest of the World: Market Size, By Range , 2017—2030 (USD Million)
Table 116 Rest of the World: Market Size, By Power, 2017—2030 (USD Million)
Table 117 Rest of the World: Market Size, By Region, 2017—2030 (USD Million)
Table 118 Latin America: Market Size, By Type, 2017—2030 (USD Million)
Table 119 Latin America: Market Size, By Ship Type, 2017—2030 (USD Million)
Table 120 Latin America: Market Size, By End Use, 2017—2030 (USD Million)
Table 121 Middle East & Africa: Electric Ships Market Size, By Type, 2017—2030 (USD Million)
Table 122 Middle East & Africa: Market Size, By Ship Type, 2017—2030 (USD Million)
Table 123 Middle East & Africa: Market Size, By End Use, 2017—2030 (USD Million)
Table 124 New Product Launches, August 2015– May 2019
Table 125 Contracts, 2015 - 2019
Table 126 Expansions and Acquisitions, 2015–2019
Table 127 Partnerships, Agreements, Joint Ventures and Collaborations, 2015 –2019
Table 128 ABB: SWOT Analysis
Table 129 Wartsila: SWOT Analysis
Table 130 ABB: SWOT Analysis
Table 131 GE: SWOT Analysis
Table 132 ABB: SWOT Analysis


List of Figures (52 Figures)

Figure 1 Report Process Flow
Figure 2 Electric Ship Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation & Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 By Type, Hybrid Segment Projected to Lead Electric Ship Market From 2019 to 2030
Figure 8 By Mode of Operation, Autonomous Segment Projected to Dominate Electric Ship Market From 2019 to 2030
Figure 9 By End Use, Newbuild & Line Fit Segment Projected to Lead the Market During Forecast Period
Figure 10 By System, Energy Storage Systems Segment Projected to Lead Market During Forecast Period
Figure 11 By Region, Europe is Projected to Lead Electric Ship Market From 2019 to 2030
Figure 12 Implementation of Sulfur 2020 Rule and Development of Lithium-Ion Batteries are Major Factors Fueling Electric Ship Market Growth
Figure 13 Diesel & Battery-Driven Segment to Lead Hybrid Ships Market During Forecast Period
Figure 14 >1,000 Segment Projected to Lead Market From 2019 to 2030
Figure 15 Commercial Segment Expected to Dominate Electric Ship Market During Forecast Period
Figure 16 Passenger Vessels Segment to Lead Commercial Market From 2019 to 2030
Figure 17 Europe Expected to Lead Electric Ship Market From 2019 to 2025
Figure 18 Electric Ship Market Dynamics: Drivers, Restraints, Opportunities & Challenges
Figure 19 Global Seaborne Trade, By Quantity Traded, 2006–2017
Figure 20 Increase in Number of Cruise Passengers in Europe, 2007—2016
Figure 21 Global Cruise Industry Share, By Region, 2016 (%)
Figure 22 Most Common Lithium-Ion Batteries With Key Features
Figure 23 Roadmap Towards Emission Free Shipping Industry
Figure 24 Potential Phasing of Different Propulsion Technologies in Marine Industry
Figure 25 Battery Energy Storage Systems: Maximum Value-Added During Manufacturing Stage
Figure 26 Fully Electric Segment Expected to Grow at the Highest CAGR During Forecast Period
Figure 27 Expert Views on Hybrid Technology
Figure 28 Power Conversion Segment Projected to Grow at the Highest CAGR During Forecast Period
Figure 29 Type of Energy Storage Technologies
Figure 30 Flywheel, SMEs, and Ultra-Capacitor are Highly Efficient Materials to Be Used for Shipping Industry
Figure 31 Electric Ship Market, By Mode of Operation, 2019 & 2030 (USD Million)
Figure 32 Commercial Segment Projected to Dominate Electric Ship Market During Forecast Period
Figure 33 151–745 Segment Projected to Dominate Electric Ship Market During Forecast Period
Figure 34 The <50 Km Segment Projected to Grow at the Highest CAGR During Forecast Period
Figure 35 Newbuild & Line Fit Segment is Expected to Grow at A Higher CAGR During Forecast Period
Figure 36 Europe Estimated to Hold Largest Share of Electric Ship Market in 2019
Figure 37 North America: Electric Ship Market Snapshot
Figure 38 Europe: Market Snapshot
Figure 39 Co2 Emissions From Domestic Shipping in Norway
Figure 40 APAC OEM Aircraft Mounts Market Snapshot
Figure 41 Major Players in Electric Ship Market, 2018
Figure 42 Companies Adopted Contracts as Key Growth Strategy From August 2015 to October 2019
Figure 43 Electric Ships Competitive Leadership Mapping, 2019
Figure 44 ABB: Company Snapshot
Figure 45 Wartsila: Company Snapshot
Figure 46 Kongsberg Gruppen: Company Snapshot
Figure 47 General Electric: Company Snapshot
Figure 48 Vard: Company Snapshot
Figure 49 Siemens: Company Snapshot
Figure 50 Leclanche Sa: Company Snapshot
Figure 51 Bae Systems PLC: Company Snapshot
Figure 52 Saft: Company Snapshot

Exhaustive secondary research was undertaken to collect information on the electric ships market, its adjacent markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the value chain through primary research. Both demand and supply-side analyses were employed to estimate the overall size of the market. Thereafter, market breakdown and data triangulation procedures were used to estimate the market sizes of different segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as Clarkson’s Research, International Maritime Organization (IMO), United Nations Conference on Trade and Development (UNCTAD), Statista, World Bank, Global Firepower, Defense IQ, Factiva, Bloomberg, BusinessWeek, SEC filings, annual reports, press releases & investor presentations of companies, certified publications, and articles by recognized authors were referred to for identifying and collecting information on the electric ships market.

Primary Research

The electric ships market comprises several stakeholders such as raw material suppliers, processors, end-product manufacturers, and integratory and regulatory organizations in its supply chain. The demand side of this market is characterized by various end-users, such as commercial organizations and military forces of different countries. The supply side is characterized by technological advancements in energy storage systems, electric propulsion systems, developers of alternate sources of energy, dual-fuel engines, and solar panels, among others. The following is the breakdown of the primary respondents that were interviewed to obtain qualitative and quantitative information about the electric ships market.

Electric Ships Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the electric ships market. These methods were also used extensively to estimate the size of various segments and subsegments of the market. The research methodology used to estimate the market size included the following:

  • Key players in the industry and market were identified through extensive secondary research of their product matrix and geographical presence and developments undertaken by them.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall size of the electric ships market using the market size estimation processes explained above, the market was split into several segments and subsegments. Data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data was triangulated by studying various factors and trends from demand as well as supply sides of the electric ships market.

Report Objectives

  • To define, describe, and forecast the size of the electric ships market based on type, ship type, mode of operation, system, end-use, range, power, and region
  • To forecast the size of segments of the market based on four regions, namely, North America, Europe, Asia Pacific, and the Rest of the World, along with major countries in each of these regions
  • To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To identify industry trends, market trends, and technology trends currently prevailing in the market
  • To analyze micromarkets1 with respect to individual technological trends, prospects, and their contribution to the overall market
  • To analyze the degree of competition in the market by identifying key players
  • To analyze competitive growth strategies, such as new product developments, contracts, partnerships, joint ventures agreements, collaborations, and acquisitions of the key players in the market
  • To strategically profile key players in the electric ships market and comprehensively analyze their market share and core competencies2
  • 1. Micromarkets are defined as further segments and subsegments of the electric ships market.
  • 2. Core competencies of companies have been captured in terms of their key developments, SWOT analyses, and strategies adopted by key players to sustain their position in the market.

Available Customizations

Along with the market data, MarketsandMarkets offers customizations according to the specific requirements of companies.

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Company Information

  • Detailed analysis and profiles of additional market players (up to 5)
Report Code
AS 7444
Published ON
Nov, 2019
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