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Electric Ship Market

Electric Ship Market by Type (Fully Electric, Hybrid), by Mode of Operation (Manned, Remotely Operated, Autonomous), by Ship Type (Commercial, Defense), by End Use (Linefit and Retrofit), by System, by Power, by Range, by Tonnage, and by Region | Global Forecast to 2022-2028

Report Id: SNS/A&D/1114 | May 2022 | Region: Global | 125 Pages

Report Scope & Overview:

Electric Ship Market Size was valued at USD 4.9 billion in 2021 and is expected to reach USD 13 billion by 2028, and grow at a CAGR of 15% over the forecast period 2022-2028.

Various reasons are driving the market, including an increase in the conversion of propulsion systems in passenger vessels, increased seaborne trade around the globe, and developing marine tourist industry. The growing commercial marine sector in many nations throughout various regions, together with the increased need for commercial boats, will fuel the demand for electric ships. Commercial vessels are becoming an important element of the electric ship sector, with countries such as the United States, China, Norway, Greece, and others investing extensively in commercial electric shipping operations.

Electric Ship Market Revenue Graph

MARKET DYNAMICS

KEY DRIVERS

  • Expansion in Seaborne.

  • Maritime Tourism Industry growing.

  • Electric Ships development.

RESTRAINTS

  • limited range.

  • Electric Ships Market development.

  • Slow charging.

  • Deficient battery.

OPPORTUNITIES:

  • renewable energy utilization

  • Hybrid propulsion technology.

  • Fuel cells.

CHALLENGES

  • Country’s major supply chain.

  • Production dependent

  • Failure to maintain vessels.

  • Operational failure.

THE IMPACT OF COVID-19

The COVID-19 pandemic has forced original equipment manufacturers and financial sponsors to postpone financing for revolutionary ventures such as autonomous vessel operations. Furthermore, the disturbing impact on the inventory of materials for battery frameworks has long been a source of concern. The vast majority of raw materials, such as cobalt, nickel, and lithium, are imported from Japan and China. Nonetheless, some countries are completely shut down due to the epidemic. However, because the issue is not under control, the Electric Ships Market is likely to expand in a post-covid space.

IMPACT OF UKRAINE AND RUSSIA CRISIS:

The Russia-Ukraine conflict is causing significant disruptions in maritime and aviation freight. Russian soldiers are closing trade lanes, logistical companies are ceasing operations, and air freight charges are soaring.

KEY MARKET PLAYERS:

The major players in the electric ship market are Siemens, Kongsberg, General Dynamics Electric Boat, ABB, Wartsila, Norwegian Electric Systems AS, Corvus Energy, MAN Energy Solutions SE Vard, and Leclanché SA, 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 ship's market further

KEY MARKET SEGMENTS:

By End-Use

  • Line fit

  • Retrofit

By Range

  • <50Km

  • 50-100Km

  • 101-1000Km

  • >1,000Km

By Power Source

  • Electric

  • Hybrid

By System:

  • Energy storage

  • Power conversion

  • Power generation

  • Power distribution

By Tonnage

  • <500DWT

  • 500-5,000DWT

  • 5,001-15,000DWT

  • >15,000DWT

By Operation

  • Manned

  • Autonomous

By Platform

  • Commercial

  • Defense

Electric Ship Market Segment Chart

REGIONAL ANALYSIS

According to a regional analysis report, the US Navy is monitoring the Electric Ships Market in North America with strategic equipment. Rely on the development of the Electric Ships Market during the research period. In addition, the presence of major energy producers, such as Corvus Energy, facilitates market development in North America. Europe dominated the Electric Ships Industry in 2020. This pattern is expected to be maintained during speculation due to the business of prominent players, such as AKASOL AG, BAE Systems, EST-Floattech, KONGSBERG, and Siemens to develop electric vessels.

The Electric Ships Asia-Pacific Market in the region is expected to register the highest CAGR in the limited period. Increasing defense use in India and China as well as the growing interest in new and improved marine vessels is driving the development of the local market. Increased defense spending in Saudi Arabia, the UAE, and Israel is driving the development of the business sector in the Middle East and Africa.

REGIONAL COVERAGE

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

Electric Aircraft Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 8.21 Billion
Market Size by 2028 US$ 25.18 Billion
CAGR CAGR of 15.1% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By End-Use (Line fit, Retrofit)
• By Range (<50Km, 50-100Km, 101-1000Km, >1,000Km)
• By Power Source (Electric, Hybrid)
• By System (Energy storage, Power conversion, Power generation, Power distribution)
• By Tonnage (<500DWT, 500-5,000DWT, 5,001-15,000DWT, >15,000DWT)
• By Operation (Manned, Autonomous)
• By Platform (Commercial, Defense)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Airbus, Yuneec Holding Limited, Pipistrel Group, Bye Aerospace, Digisky S.R.L, Leonardo S.p.A., Groupe Gorgé, EHang Holdings Limited, Faradair Aerospace Limited, and Boeing are among the market's major players.
Key Drivers • Environment pollution control.
• Carbon-dioxide emissions.
RESTRAINTS • Low energy density of batteries.
• Time Consuming


Frequently Asked Questions (FAQ) :

According to SNS insiders, the Electric ship market size was USD 4.9 billion  in 2021 and is expected to reach USD 13 billion by 2028 with a CAGR of  15% over the forecasted period.

The COVID-19 pandemic has forced original equipment manufacturers and financial sponsors to postpone financing for revolutionary ventures such as autonomous vessel operations. Furthermore, disturbing impact on the inventory of materials for battery frameworks has long been a source of concern.

Europe dominated the Electric Ships Industry in 2021. This pattern is expected to be maintained during speculation due to the business of prominent players

Expansion in Seaborne and Maritime Tourism Industry growing and Electric Ships development.

The sample for the Electric ship market report is available on the website upon request. To obtain the sample report, you can also use the 24*7 chat support and direct call services.


Table of Contents


1. Introduction
1.1 Market Definition 
1.2 Scope
1.3 Research Assumptions
 
2. Research Methodology
 
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
 
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of Ukraine War

5. Value Chain Analysis
 
6. Porter’s 5 forces model
 
7.  PEST Analysis
  
8. Electric Ship Market, By End-Use:
8.1 Line fit
8.2 Retro fit

9. Electric Ship Market, By Range
9.1 <50Km
9.2 50-100Km
9.3 101-1000Km
9.4 >1,000Km

10. Electric Ship Market, By Power Source:
10.1 Electric
10.2 Hybrid

11. Electric Ship Market, By System:
11.1 Energy storage
11.2 Power conversion
11.3 Power generation
11.4 Power distribution

12. Electric Ship Market, By Tonnage
12.1 <500DWT
12.2 500-5,000DWT
12.3 5,001-15,000DWT
12.4 >15,000DWT

13. Electric Ship Market, By Operation:
13.1 Manned
13.2 Autonomous

14. Electric Ship Market, By Platform:
14.1 Commercial
14.2 Defense

15. Regional Analysis
15.1 Introduction
15.2 North America
15.2.1 USA
15.2.2    Canada
15.2.3    Mexico
15.3    Europe
15.3.1    Germany
15.3.2    UK
15.3.3    France
15.3.4    Italy
15.3.5    Spain
15.3.6    The Netherlands
15.3.7    Rest of Europe
15.4    Asia-Pacific
15.4.1    Japan
15.4.2    South Korea
15.4.3    China
15.4.4    India
15.4.5    Australia
15.4.6    Rest of Asia-Pacific
15.5    The Middle East & Africa
15.5.1    Israel
15.5.2    UAE
15.5.3    South Africa
15.5.4    Rest
15.6    Latin America
15.6.1    Brazil
15.6.2    Argentina
15.6.3    Rest of Latin America

16. Company Profiles
16.1 HITACHI LTD.
16.1.1 Financial
16.1.2 Products/ Services Offered
16.1.3 SWOT Analysis
16.1.4 The SNS view
16.2 AB VOLVO
16.3 CATTERPILLAR INC.
16.4 CNH INDUSTRIAL N.V
16.5 DEERE AND COMPANY
16.6 DOOSAN INFRACOE CO.LTD
16.7 J C BAMFORD EXCAVATORS. LTD.
16.8 KOMATSU LTD.
16.9 Liebherr-international AG
16.10 XCMG GROUP

17. Competitive Landscape
17.1 Competitive Benchmark
17.2 Market Share analysis
17.3 Recent Developments

18. Conclusion
 

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