[199 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 Organizations 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.
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 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.
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.
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.
Report Metric |
Details |
Market size available for years |
20172030 |
Base year considered |
2018 |
Forecast period |
20192030 |
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.
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 Market Stakeholders
2 Research Methodology (Page No. - 26)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries
2.2 Market Definition & Scope
2.2.1 Segment Definitions
2.2.1.1 Electric Ships Market, By System
2.2.1.2 Electric Ships Market, By End Use
2.2.1.3 Electric Ships Market, By Type
2.2.1.4 Electric Ships Market, By Mode of Operation
2.2.1.5 Electric Ships Market, By Power (kW)
2.2.1.6 Electric Ships Market, By Range (km)
2.2.1.7 Electric Ships Market, By Ship Type
2.2.2 Exclusions
2.3 Market Size Estimation & Methodology
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Data Triangulation
2.5 Market Sizing & Forecasting
2.6 Limitations
3 Executive Summary (Page No. - 36)
4 Premium Insights (Page No. - 39)
4.1 Attractive Growth Opportunities in Electric Ships Market
4.2 Hybrid Ships Market, By Type
4.3 Electric Ships Market, By Range
4.4 Electric Ships Market, By Ship Type
4.5 Commercial Electric Ships Market, By Type
4.6 Electric Ships Market, By Region
5 Market Overview (Page No. - 42)
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 Rise in Adoption of Hybrid and Electric Propulsion Technologies for Retrofitting Ships
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 High Downtime in Retrofitting Ships
5.3.2.2 Limited Range and Capacity of Fully-Electric Ships
5.3.3 Opportunities
5.3.3.1 Potential of High Powered Batteries
5.3.3.2 Potential for Battery Charging Via Renewable Sources of Energy
5.3.3.3 Hybrid Propulsion Technology for Large Ships
5.3.4 Challenges
5.3.4.1 Inadequate Charging Infrastructure
5.3.4.2 High Initial Capital Expenditure Cost
6 Industry Trends (Page No. - 53)
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 2020
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 Zero Emission Fuel for the Shipping Industry
6.7 Innovations & Patent Registrations
7 Electric Ships Market, By Type (Page No. - 61)
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 Electro-Solar Technology Involves the Use of Renewable Energy to Recharge Batteries in Ships
7.2.4 Fuel Cells
7.2.4.1 Fuel Cells are an Alternative Technology to Lithium-Ion and Lead Acid Batteries
7.3 Hybrid
7.3.1 Diesel & Battery-Driven
7.3.1.1 Significant Advancements in Hybrid Technology Encouraged Adoption of Hybrid-Electric Propulsion for Large Cruise Ships
7.3.2 Lpg/Lng & Battery-Driven
7.3.2.1 Lpg/Lng Based Engines Use Electric Propulsion Motors to Power Ships
8 Electric Ships Market, By System (Page No. - 68)
8.1 Introduction
8.2 Energy Storage Systems
8.2.1 <1,000 kW
8.2.1.1 <1,000 kW Energy Storage Systems are Majorly Required By Small Ships
8.2.2 1,0015,000 kW
8.2.2.1 Medium-Sized Ships With Medium Sailing Speed Require 1,001-5,000 kW
8.2.3 >5,000 kW
8.2.3.1 Large Ships Use >5,000 kW Power
8.3 Power Conversion
8.4 Power Generation
8.4.1 Generators
8.4.1.1 Rise in Demand for Electric Propulsion is Driving the Demand for Generators
8.4.2 Engines
8.4.2.1 Rise in Demand for Hybrid Driven Propulsion is Driving the Demand for Engines
8.4.3 Propulsion Motors
8.4.3.1 Power for Propulsion Motor is Supplied By the Ships Generator and Prime Mover Assembly
8.5 Power Distribution
9 Electric Ships Market, By Mode of Operation (Page No. - 75)
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 Remotely Operated Ships are Controlled By Operators Via Satellite Communications
9.4 Autonomous
9.4.1 Autonomous Electric Ships Function Based on Artificial Intelligence and Sensor Fusion Technologies
10 Electric Ships Market, By Ship Type (Page No. - 79)
10.1 Introduction
10.2 Commercial
10.2.1 Passenger Vessels
10.2.1.1 Yachts
10.2.1.1.1 Fully Electric Yachts have the Ability to Use Solar Power to Charge the Batteries
10.2.1.2 Ferries
10.2.1.2.1 The Adoption of Electric Ferries is High in North America and Europe Due to the Changing Environmental Regulations.
10.2.1.3 Cruise Ships
10.2.1.3.1 The Adoption of Hybrid-Electric Propulsion Technologies for Cruise Ships is Estimated to Increase in the Coming Years
10.2.2 Cargo Vessels
10.2.2.1 Container Vessels
10.2.2.1.1 Container Ships Were the First to Adopt A Full Electric Set Up Due to Their Smaller Size and Distance Traveled.
10.2.2.2 Bulk Carriers
10.2.2.2.1 The Demand for Retrofitting Existing Bulk Carriers is Expected to Increase in the Coming Years
10.2.2.3 Tankers
10.2.2.3.1 Japense Company Designed A Domestic Fully Electric Shipping Tanker Using Lithium-Ion Batteries.
10.2.2.4 General Cargo Ships
10.2.2.4.1 The Potential of the Retrofit Market for General Cargo Ships is High
10.2.3 Others
10.2.3.1 Fishing Vessels
10.2.3.1.1 Rising Adoption of Electric Propulsion in Fishing Vessel
10.2.3.2 Dredgers
10.2.3.2.1 Dredgers have Been Using A Diesel-Electric Propulsion System
10.2.3.3 Tugs & Workboats
10.2.3.3.1 Tugs & Workboats Account for A Major Share in the Worlds Ships Fleet
10.2.3.4 Research Vessels
10.2.3.4.1 Market for Retrofitting Research Vessels is Larger Than That for Newbuilds at Present
10.2.3.5 Submarines
10.2.3.5.1 Fully Electric Submarines are Useful for Underwater Exploration as There is Minimal Vibration From the Motor
10.3 Defense
10.3.1 Destroyers
10.3.1.1 Defense Forces of Countries Like Us, the Uk, and India are Focusing on Integrating Electric Propulsive Destroyers to Its Fleet
10.3.2 Frigates
10.3.2.1 Electric and Hybrid Propulsion has Been Used in Frigates Either Directly Or Along With A Diesel Engine
10.3.3 Corvettes
10.3.3.1 South Korea Ordered Corvettes With All-Electric Propulsion
10.3.4 Offshore Support Vessels (OSV)
10.3.4.1 The Adoption of Hybrid Propulsion Technology for Offshore Support Vessels is Estimated to Increase During the Forecast Period
10.3.5 Aircraft Carriers
10.3.5.1 Indian Navy, There is A Possibility of Using an Aircraft Carrier With Hybrid Propulsion
10.3.6 Submarines
10.3.6.1 Us, France, and India are Currently Using Or Developing Electric Propulsion Systems
11 Electric Ships Market, By Power (Page No. - 88)
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 75150 kW
11.3.1 Use of Fully Electric Ferries for Transport Will Drive the Electric Ships Market
11.4 151745 kW
11.4.1 Cargo Vessels in the 151745 kW Range has Large Retrofit Potential
11.5 7467,560 kW
11.5.1 Increased Investment in Hybrid-Electric Propulsion Systems Drive the Market for Electric Ships
11.5.2 Adoption of Electric Propulsion in Large-Sized Container and Cargo Ships is Driving the Demand for These Ships Having Power >7,560 kW
12 Electric Ships Market, By Range (Page No. - 91)
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 50100 km
12.3.1 Demand for Fully Electric Container Ships Will Drive the Demand for Electric Propulsion
12.4 1011,000 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. - 94)
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 Shipowners Update Or Retrofit Equipment Installed on Existing Vessels to Increase Their Efficiency and Extend Their Durability
14 Regional Analysis (Page No. - 98)
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 Governments 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
14.3.5 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. - 133)
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 Strategy Excellence
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. - 145)
16.1 ABB
(Business Overview, Products/Solutions/Services Offered, Customers and Application Areas, Unique Value Proposition and Right to Win, Growth Strategy, Organic Strategy, Inorganic Strategy, Recent Developments, SWOT Analysis, and MnM View)*
16.2 Wartsila
16.3 Kongsberg Gruppen
16.4 General Electric (GE)
16.5 Vard
16.6 Siemens
16.7 Leclanchι SA
16.8 Bae Systems
16.9 Norwegian Electric Systems
16.1 MAN Energy Solutions SE
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
16.17 ECO Marine Power Co Ltd.
16.18 Akasol AG
16.19 EST Floattech
16.20 Saft (Total)
*Details on Business Overview, Products/Solutions/Services Offered, Customers and Application Areas, Unique Value Proposition and Right to Win, Growth Strategy, Organic Strategy, Inorganic Strategy, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.
17 Appendix (Page No. - 194)
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 (131 Tables)
Table 1 USD Exchange Rates, 20172019
Table 2 Research Assumptions
Table 3 Milestones of the Implementation Plan for Electrification in Marine Transport
Table 4 Sulfur Content Regulations in Bunker Fuel
Table 5 Current Battery Capacity and Requirements of Ships
Table 6 Capital Expenditure, Savings, and Payback
Table 7 Capital Expenditure, Savings, and Payback
Table 8 Capital Expenditure, Savings, and Payback
Table 9 Innovations & Patent Registrations, 20112017
Table 10 Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 11 Global All Electric Ships Projects
Table 12 Ongoing Fuel Cell Projects in Shipping Industry
Table 13 Electric Ships Market Size, By System, 20172030 (USD Million)
Table 14 Comparison Between Principle Energy Storage Systems (Ess)
Table 15 Energy Storage Systems Market Size, By Wattage, 20172030 (USD Million)
Table 16 Electric Propulsion Ship (8,444G/T, Cement Carrying Vessel) and Existing Ship: Comparison
Table 17 Electric Ships Market Size, By Mode of Operation, 20172030 (USD Million)
Table 18 Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 19 Commercial Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 20 Commercial Electric Ships Market Size, By Passenger Vessel, 20172030 (USD Million)
Table 21 Commercial Electric Ships Market Size, By Cargo Vessel, 20172030 (USD Million)
Table 22 Commercial Electric Ships Market Size, Other Vessel, 20172030 (USD Million)
Table 23 Defense Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 24 Electric Ships Market Size, By Power, 20172030 (USD Million)
Table 25 Electric Ships Market Size, By Range, 20172030 (USD Million)
Table 26 Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 27 Newbuild & Line Fit Electric Ships Market Size, By Shipbuilding, 20172030 (USD Million)
Table 28 Electric Ships Market Size, By Region, 20172030 (USD Million)
Table 29 North America: Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 30 North America: Fully Electric Ships Market Size, By Power Source, 20172030 (USD Million)
Table 31 North America: Hybrid Ships Market Size, By Power Source, 20172030 (USD Million)
Table 32 North America: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 33 North America: Commercial Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 34 North America: Commercial Electric Ships Market Size, By Passenger Vessel, 20172030 (USD Million)
Table 35 North America: Commercial Electric Ships Market Size, By Cargo Vessel, 20172030 (USD Million)
Table 36 North America: Commercial Electric Ships Market Size, By Other Vessel, 20172030 (USD Million)
Table 37 North America: Electric Ships Market Size, By Mode of Operation, 20172030 (USD Million)
Table 38 North America: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 39 North America: Electric Ships Market Size, By Range, 20172030 (USD Million)
Table 40 North America: Electric Ships Market Size, By Power, 20172030 (USD Million)
Table 41 North America: Electric Ships Market Size, By Country, 20172030 (USD Million)
Table 42 US: Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 43 US: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 44 US: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 45 Canada: Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 46 Canada: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 47 Canada: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 48 Europe: Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 49 Europe: Fully Electric Ships Market Size, By Power Source, 20172030 (USD Million)
Table 50 Europe: Hybrid Ships Market Size, By Power Source, 20172030 (USD Million)
Table 51 Europe: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 52 Europe: Commercial Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 53 Europe: Commercial Electric Ships Market Size, By Passenger Vessel, 20172030 (USD Million)
Table 54 Europe: Commercial Electric Ships Market Size, By Cargo Vessel, 20172030 (USD Million)
Table 55 Europe: Commercial Electric Ships Market Size, By Other Vessel, 20172030 (USD Million)
Table 56 Europe: Electric Ships Market Size, By Mode of Operation, 20172030 (USD Million)
Table 57 Europe: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 58 Europe: Electric Ships Market Size, By Range, 20172030 (USD Million)
Table 59 Europe: Electric Ships Market Size, By Power, 20172030 (USD Million)
Table 60 Europe: Electric Ships Market Size, By Country, 20172030 (USD Million)
Table 61 Norway: Electric Ship Market Size, By Type, 20172030 (USD Million)
Table 62 Norway: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 63 Norway: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 64 Greece: Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 65 Greece: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 66 Greece: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 67 Netherlands: Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 68 Netherlands: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 69 Netherlands: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 70 France: Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 71 France: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 72 France: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 73 Rest of Europe: Electric Ship Market Size, By Type, 20172030 (USD Million)
Table 74 Rest of Europe: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 75 Rest of Europe: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 76 Asia Pacific: Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 77 Asia Pacific: Fully Electric Ships Market Size, By Power Source, 20172030 (USD Million)
Table 78 Asia Pacific: Hybrid Ships Market Size, By Power Source, 20172030 (USD Million)
Table 79 Asia Pacific: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 80 Asia Pacific: Commercial Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 81 Asia Pacific: Commercial Electric Ships Market Size, By Passenger Vessel, 20172030 (USD Million)
Table 82 Asia Pacific: Commercial Electric Ships Market Size, By Cargo Vessel, 20172030 (USD Million)
Table 83 Asia Pacific: Commercial Electric Ships Market Size, By Other Vessel, 20172030 (USD Million)
Table 84 Asia Pacific: Electric Ships Market Size, By Mode of Operation, 20172030 (USD Million)
Table 85 Asia Pacific: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 86 Asia Pacific: Electric Ships Market Size, By Range, 20172030 (USD Million)
Table 87 Asia Pacific: Electric Ships Market Size, By Power, 20172030 (USD Million)
Table 88 Asia Pacific: Electric Ships Market Size, By Country, 20172030 (USD Million)
Table 89 China: Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 90 China: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 91 China: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 92 South Korea: Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 93 South Korea: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 94 South Korea: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 95 Japan: Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 96 Japan: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 97 Japan: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 98 New Zealand: Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 99 New Zealand: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 100 New Zealand: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 101 Rest of Asia Pacific: Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 102 Rest of Asia Pacific: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 103 Rest of Asia Pacific: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 104 Rest of the World: Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 105 Rest of the World: Fully Electric Ships Market Size, By Power Source, 20172030 (USD Million)
Table 106 Rest of the World: Hybrid Ships Market Size, By Power Source, 20172030 (USD Million)
Table 107 Rest of the World: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 108 Rest of the World: Commercial Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 109 Rest of the World: Commercial Electric Ships Market Size, By Passenger Vessel, 20172030 (USD Million)
Table 110 Rest of the World: Commercial Electric Ships Market Size, By Cargo Vessel, 20172030 (USD Million)
Table 111 Rest of the World: Commercial Electric Ships Market Size, By Other Vessel, 20172030 (USD Million)
Table 112 Rest of the World: Electric Ships Market Size, By Mode of Operation, 20172030 (USD Million)
Table 113 Rest of the World: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 114 Rest of the World: Electric Ships Market Size, By Range, 20172030 (USD Million)
Table 115 Rest of the World: Electric Ships Market Size, By Power, 20172030 (USD Million)
Table 116 Rest of the World: Electric Ships Market Size, By Region, 20172030 (USD Million)
Table 117 Latin America: Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 118 Latin America: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 119 Latin America: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 120 Middle East & Africa: Electric Ships Market Size, By Type, 20172030 (USD Million)
Table 121 Middle East & Africa: Electric Ships Market Size, By Ship Type, 20172030 (USD Million)
Table 122 Middle East & Africa: Electric Ships Market Size, By End Use, 20172030 (USD Million)
Table 123 New Product Launches, August 2015 May 2019
Table 124 Contracts, 2015 - 2019
Table 125 Expansions and Acquisitions, 20152019
Table 126 Partnerships, Agreements, Joint Ventures, and Collaborations, 2015 2019
Table 127 ABB: SWOT Analysis
Table 128 Wartsila: SWOT Analysis
Table 129 Kongsberg: SWOT Analysis
Table 130 GE: SWOT Analysis
Table 131 Siemens: SWOT Analysis
List of Figures (53 Figures)
Figure 1 Report Process Flow
Figure 2 Electric Ships 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: Electric Ships Market
Figure 7 By Type, Hybrid Segment Projected to Lead Electric Ships Market From 2019 to 2030
Figure 8 By Mode of Operation, Manned Segment Projected to Dominate Electric Ships Market From 2019 to 2030
Figure 9 By End Use, Newbuild & Line Fit Segment Projected to Lead Electric Ships Market During Forecast Period
Figure 10 By System, Energy Storage Systems Segment Projected to Lead Electric Ships Market During Forecast Period
Figure 11 By Region, Europe is Projected to Lead Electric Ships Market From 2019 to 2030
Figure 12 Implementation of Sulfur 2020 Rule and Development of Lithium-Ion Batteries are Major Factors Driving Electric Ships Market
Figure 13 Diesel & Battery-Driven Segment to Lead Hybrid Ships Market During Forecast Period
Figure 14 <50 km Segment Projected to Lead Electric Ships Market From 2019 to 2030
Figure 15 Commercial Segment Expected to Dominate Electric Ships Market During Forecast Period
Figure 16 Passenger Vessels Segment to Lead Commercial Electric Ships Market From 2019 to 2030
Figure 17 Europe Expected to Lead Electric Ships Market From 2019 to 2025
Figure 18 Electric Ships Market Dynamics: Drivers, Restraints, Opportunities & Challenges
Figure 19 Global Seaborne Trade, By Quantity Traded, 20052017
Figure 20 Increase in Number of Cruise Passengers in Europe, 20072016
Figure 21 Global Cruise Industry Share, By Region, 2016
Figure 22 Most Common Lithium-Ion Batteries With Key Features
Figure 23 Relative Feasibility of Different Energy-Storage Technologies
Figure 24 Roadmap Towards Emission Free Shipping Industry
Figure 25 Potential Phasing of Different Propulsion Technologies in Marine Industry
Figure 26 Battery Energy Storage Systems: Maximum Value-Added During Manufacturing Stage
Figure 27 Fully Electric Segment Expected to Grow at the Highest CAGR During Forecast Period
Figure 28 Expert Views on Hybrid Technology
Figure 29 Power Conversion Segment Projected to Grow at the Highest CAGR During Forecast Period
Figure 30 Type of Energy Storage Systems
Figure 31 Adoption of Fuel Cells in Small & Medium Electric Ship
Figure 32 Electric Ships Market, By Mode of Operation, 2019 & 2030 (USD Million)
Figure 33 Commercial Segment Projected to Dominate Electric Ships Market During Forecast Period
Figure 34 151745 kW Segment Projected to Lead Electric Ships Market During Forecast Period
Figure 35 The <50 km Segment Projected to Grow at the Highest CAGR During Forecast Period
Figure 36 Newbuild & Line Fit Segment is Expected to Grow at A Higher CAGR During Forecast Period
Figure 37 Europe Estimated to Hold Largest Share of Electric Ships Market in 2019
Figure 38 North America Electric Ships Market Snapshot
Figure 39 Europe Electric Ships Market Snapshot
Figure 40 Co2 Emissions From Domestic Shipping in Norway
Figure 41 Asia Pacific Electric Ships Market Snapshot
Figure 42 Major Players in Electric Ships Market, 2018
Figure 43 Companies Adopted Several Growth Strategies From August 2015 to October 2019
Figure 44 Electric Ships Competitive Leadership Mapping, 2019
Figure 45 ABB: Company Snapshot
Figure 46 Wartsila: Company Snapshot
Figure 47 Kongsberg Gruppen: Company Snapshot
Figure 48 General Electric: Company Snapshot
Figure 49 Vard: Company Snapshot
Figure 50 Siemens: Company Snapshot
Figure 51 Leclanche SA: Company Snapshot
Figure 52 BAE Systems: Company Snapshot
Figure 53 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.
In the secondary research process, various secondary sources such as Clarksons 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.
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.
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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:
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.
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Growth opportunities and latent adjacency in Electric Ships Market