Power Ship Market By Type (Fully Electric, Hybrid, Plug-in-hybrid), By System (Electricity Storage, Power Conversion, Power Generation, Others), By Application (Commercial, Defense): Global Opportunity Analysis and Industry Forecast, 2021-2031
Global power ship market was valued at $3.4 billion in 2021, and is projected to reach $22.8 billion by 2031, growing at a CAGR of 21.4% from 2022 to 2031.
Powership is a special-purpose ship where a power plant is installed to generate power. It caters to short-term energy needs. Powerships can be deployed in areas where disaster has struck and energy installations are damaged or destroyed. Powerships can be deployed to serve a state’s energy demand till the time the required infrastructure is developed. Economies in the region such as the U.S., Canada, and Mexico are initiating policies to minimize carbon emissions from their distribution sectors by switching to electricity and natural gas and by improving energy efficiency in defense that produce large amounts of carbon emissions. This is expected to drive the growth of the powership market in North America. The rise in demand for improving energy performance through the installation of powership devices is expected to drive the growth of the market during the forecast period. In addition, energy service providers in Europe are increasingly investing in smart grid and smart metering infrastructure, which collects data and enable consumers to minimize damages from energy distribution in the region. Rapid industrialization in the region increases the demand for energy and an increase in investments in power infrastructure is expected to drive the growth of the global powership market during the forecast period. In addition, the rapid growth of smart energy infrastructure, adoption of green building models, and rise in government support toward achieving damage control due to power surge is further projected to fuel the growth of the global powership industry in the upcoming years
The powership market is segmented on the basis of type, system, application, and region. Depending on the type, the market is divided into fully electric, hybrid, and plug-in hybrid. On the basis of the system, the division of the market is done into electricity storage, power conversion, power generation, and others. By application, the market bifurcation is done into defense and commercial. Region-wise, the powership market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). The key players in the market are ABB Ltd., Konsberg, GE, Wartsila, MAN Energy Solutions, Siemens AG, Corvus Energy, General Dynamics electric boat, Norwegian Electric Systems AS, Leclanch SA, Karadeniz Holding, Mitsui osk, and Volkswagen AG.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investments. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain the intense competition in the industry.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the powership market analysis from 2021 to 2031 to identify the prevailing powership market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the powership market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes an analysis of the regional as well as global powership market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Fully Electric
Hybrid
Plug-in-hybrid
By System
Electricity Storage
Power Conversion
Power Generation
Others
By Application
Commercial
Defense
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
Italy
Spain
UK
France
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa,
Saudi Arabia
Rest of LAMEA
Key Market Players
ABB Ltd
Konsberg
GE
Wartsila
MAN Energy Solutions
Siemens AG
Corvus Energy
General Dynamics electric boat
Norwegian Electric Systems AS
Leclanch SA
Karadeniz Holding
Mitsui osk
Volkswagen AG
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