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.
Expansion in Seaborne.
Maritime Tourism Industry growing.
Electric Ships development.
Electric Ships Market development.
renewable energy utilization
Hybrid propulsion technology.
Country’s major supply chain.
Failure to maintain vessels.
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 Power Source
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.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|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|
|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
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
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
10. Electric Ship Market, By Power Source:
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
13. Electric Ship Market, By Operation:
14. Electric Ship Market, By Platform:
15. Regional Analysis
15.2 North America
15.3.6 The Netherlands
15.3.7 Rest of Europe
15.4.2 South Korea
15.4.6 Rest of Asia-Pacific
15.5 The Middle East & Africa
15.5.3 South Africa
15.6 Latin America
15.6.3 Rest of Latin America
16. Company Profiles
16.1 HITACHI LTD.
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
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