Market Overview:
The global electric ships market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for environment-friendly and fuel-efficient modes of transportation. Electric ships are powered by electricity, which makes them more fuel-efficient as compared to traditional ships that run on diesel or petrol engines. This is one of the major factors driving the growth of the electric ships market across the globe. The global electric ships market can be segmented on the basis of type into battery electric ships, plug-in hybrid electric (PHEV) Ships, and hybrid electric (HEV) Ships. Of these, PHEVs are expected to witness highest growth during the forecast period owing to their ability to run on both electricity and traditional fuels such as diesel or petrol. On account of this versatility, PHEVs are being increasingly adopted for commercial applications such as ferry services and cruise liners across regions such as Europe and North America. On basis application, work vessels accounted for majority share in 2017 owing high adoption rates in sectors such as fishing & aquaculture, dredging & marine construction etc.
Product Definition:
Electric Ships are vessels propelled by electricity. They are important because they are more environmentally friendly than traditional fuel-powered ships.
Battery Electric Ships:
Battery electric ships (BES) are vessels propelled by electricity, usually from a single-largest or dual source. The BES can be motorized and have all the amenities of a conventional vessel; it is capable of sailing without the need for any onboard fuel supply. A battery electric ship has no internal combustion engine and cannot be used in diesel mode either; it must always be operated in pure electrical mode.
Plug-In Hybrid Electric Ships:
Plug-in Hybrid Electric Ships (PHES) are ships that combine the propulsion of conventional fuel-driven vessels with the flexibility of electric propulsion. PHES can be used for both short and long voyages, making them an attractive option in comparison to diesel or gas turbine ships.
The market is still at a nascent stage; however, there has been a significant increase in investments by key players such as Samsung Heavy Industries.
Application Insights:
The work application segment dominated the global electric ships market in 2017 and is expected to witness a CAGR of XX% over the forecast period owing to its ability to discharge up to 20 tons of cargo with a single trip, as compared with conventional vessels that can only carry 13 tons at a time. The leisure segment is also projected to witness significant growth over the next eight years due these ships¢â‚¬â„¢ ability toraise above average waves by using its own power through hybrid or all-electric drive systems.
The Asia Pacific region accounted for more than 50% share of the overall revenue in 2017 and is likelyto witness significant growth owingto increasing demandfor cruise services across various countries including China, Japan, Australia and New Zealand among others.
Regional Analysis:
The Asia Pacific regional market accounted for the largest revenue share in 2017. The region is projected to continue its dominance over the forecast period owing to factors such as growing demand for container transportation, increasing trade activities, and rising tourism. Moreover, countries such as China and Japan are anticipated to witness high growth rates owing to their rapidly expanding economies and burgeoning maritime industries.
China is one of the leading electric ship manufacturers in terms of capacity addition along with being a major consumer of electric ships globally. In 2018, China added two new container terminals at Shanghai Hongqiao International Airport (SHIA) with a total investment worth USD X billion which will further boost regional product demand over the coming years.
North America emerged as the second-largest market in 2017 due to stringent government regulations regarding carbon emissions from conventional fuel engines used for propulsion purposes on board vessels operating within U.S.
Growth Factors:
- Increasing demand for electric ships from the commercial sector as a result of environmental regulations and the need to reduce emissions.
- The development of more advanced and efficient electric propulsion systems that can provide greater range and performance for electric ships.
- Growing investment in new port infrastructure and facilities to accommodate the increasing number of electric vessels entering service.
- The launch of new all-electric ship models by major maritime manufacturers that will help to accelerate market growth.
- Increased awareness among shipping companies and consumers about the benefits of using electric ships, which is helping to drive wider adoption across various sectors
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Ships Market Research Report
By Type
Battery Electric Ships, Plug-In Hybrid Electric Ships, Hybrid Electric Ships
By Application
Work, Leisure
By Companies
Boesch Motorboote, Duffy Electric Boat, Ruban Bleu, Torqeedo, Triton Submarines, CORVUS ENERGY, Electrovaya, Saft, Tamarack Lake Electric Boat Company, Boesch Motorboote
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
142
Number of Tables & Figures
100
Customization Available
Yes, the report can be customized as per your need.
Global Electric Ships Market Report Segments:
The global Electric Ships market is segmented on the basis of:
Types
Battery Electric Ships, Plug-In Hybrid Electric Ships, Hybrid Electric Ships
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Work, Leisure
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Boesch Motorboote
- Duffy Electric Boat
- Ruban Bleu
- Torqeedo
- Triton Submarines
- CORVUS ENERGY
- Electrovaya
- Saft
- Tamarack Lake Electric Boat Company
- Boesch Motorboote
Highlights of The Electric Ships Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Battery Electric Ships
- Plug-In Hybrid Electric Ships
- Hybrid Electric Ships
- By Application:
- Work
- Leisure
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electric Ships Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Electric Ships are vessels that use electricity to power their engines. This type of ship is more efficient and environmentally friendly than traditional ships, which use oil or gas to power their engines.
Some of the major companies in the electric ships market are Boesch Motorboote, Duffy Electric Boat, Ruban Bleu, Torqeedo, Triton Submarines, CORVUS ENERGY, Electrovaya, Saft, Tamarack Lake Electric Boat Company, Boesch Motorboote.
The electric ships market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Electric Ships Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Electric Ships Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Electric Ships Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Electric Ships Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Electric Ships Market Size & Forecast, 2020-2028
4.5.1 Electric Ships Market Size and Y-o-Y Growth
4.5.2 Electric Ships Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Battery Electric Ships
5.2.2 Plug-In Hybrid Electric Ships
5.2.3 Hybrid Electric Ships
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Work
6.2.2 Leisure
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Electric Ships Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Electric Ships Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Battery Electric Ships
9.6.2 Plug-In Hybrid Electric Ships
9.6.3 Hybrid Electric Ships
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Work
9.10.2 Leisure
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Battery Electric Ships
10.6.2 Plug-In Hybrid Electric Ships
10.6.3 Hybrid Electric Ships
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Work
10.10.2 Leisure
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Battery Electric Ships
11.6.2 Plug-In Hybrid Electric Ships
11.6.3 Hybrid Electric Ships
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Work
11.10.2 Leisure
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Battery Electric Ships
12.6.2 Plug-In Hybrid Electric Ships
12.6.3 Hybrid Electric Ships
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Work
12.10.2 Leisure
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Battery Electric Ships
13.6.2 Plug-In Hybrid Electric Ships
13.6.3 Hybrid Electric Ships
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Work
13.10.2 Leisure
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Electric Ships Market: Competitive Dashboard
14.2 Global Electric Ships Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Boesch Motorboote
14.3.2 Duffy Electric Boat
14.3.3 Ruban Bleu
14.3.4 Torqeedo
14.3.5 Triton Submarines
14.3.6 CORVUS ENERGY
14.3.7 Electrovaya
14.3.8 Saft
14.3.9 Tamarack Lake Electric Boat Company
14.3.10 Boesch Motorboote
