Electric Ship Market Report Scope & Overview:

The Electric Ship Market Size was valued at USD 5.63 billion in 2022 and is expected to reach USD 17.23 billion by 2030 with a growing CAGR of 15% over the forecast period 2023-2030.

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 Analysis

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  • Expansion in Seaborne

  • Maritime Tourism Industry growing

  • Electric Ships development


  • limited range.

  • Electric Ships Market development

  • Slow charging

  • Deficient battery



  • Country’s major supply chain

  • Production dependent

  • Failure to maintain vessels

  • Operational failure


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.


By Range

  • <50Km

  • 50-100Km

  • 101-1000Km

  • >1,000Km

By Power Source

  • Electric

  • Hybrid

By System

By Tonnage

  • <500DWT

  • 500-5,000DWT

  • 5,001-15,000DWT

  • >15,000DWT

By Operation

  • Manned

  • Autonomous

By Platform

  • Commercial

  • Defense

By End-Use

  • Line fit

  • Retrofit

Electric Ship Market Segmentation Analysis

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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.


North America

  • USA

  • Canada

  • Mexico


  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe


  • 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


The Key Players are Boesch Motorboote AG, Bureau Veritas, Canadian Electric Boat Company, Corvus Energy, Baltic Workboats AS, VARD AS, TRITON, Electrovaya, KONGSBERG, General Dynamics Electric Boat, Duffy Electric Boat Company, Yara & Other Players.

Kongsberg-Company Financial Analysis

Electric Aircraft Market Report Scope:

Report Attributes Details
Market Size in 2022 US$ 5.63 Billion
Market Size by 2030 US$ 17.23 Billion
CAGR CAGR of 15.1% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
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 Boesch Motorboote AG, Bureau Veritas, Canadian Electric Boat Company, Corvus Energy, Baltic Workboats AS, VARD AS, TRITON, Electrovaya, KONGSBERG, General Dynamics Electric Boat, Duffy Electric Boat Company, Yara
Key Drivers • Environment pollution control.
• Carbon-dioxide emissions.
RESTRAINTS • Low energy density of batteries.
• Time Consuming

Frequently Asked Questions

Electric Ship Market Size was valued at USD 5.63 billion in 2022 and is expected to reach USD 17.23 billion by 2030, and grow at a CAGR of 15% over the forecast period 2023-2030.

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 Segmentation, By Range

8.1 <50Km

8.2 50-100Km

8.3 101-1000Km

8.4 >1,000Km

9. Electric Ship Market Segmentation, By Power Source

9.1 Electric

9.2 Hybrid

10. Electric Ship Market Segmentation, By System

10.1 Energy storage

10.2 Power conversion

10.3 Power generation

10.4 Power distribution

11. Electric Ship Market Segmentation, By Tonnage

11.1 <500DWT

11.2 500-5,000DWT

11.3 5,001-15,000DWT

11.4 >15,000DWT

12. Electric Ship Market Segmentation, By Operation

12.1 Manned

12.2 Autonomous

13. Electric Ship Market Segmentation, By Platform

13.1 Commercial

13.2 Defense

14. Electric Ship Market Segmentation, By End-Use

14.1 Line fit

14.2 Retro fit

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 Boesch Motorboote AG

16.1.1 Financial

16.1.2 Products/ Services Offered

16.1.3 SWOT Analysis

16.1.4 The SNS view

16.2 Bureau Veritas

16.3 Canadian Electric Boat Company

16.4 Corvus Energy

16.5 Baltic Workboats AS

16.6 VARD AS


16.8 Electrovaya


16.10 General Dynamics Electric Boat

16.11 Duffy Electric Boat Company

16.12 Yara 

16.13 Other Players

17. Competitive Landscape

17.1 Competitive Benchmark

17.2 Market Share Analysis

17.3 Recent Developments

18. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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