Electric Ship Market Report: Trends, Forecast and Competitive Analysis to 2030

Electric Ship Market Report: Trends, Forecast and Competitive Analysis to 2030

Electric Ship Trends and Forecast

The future of the global electric ship market looks promising with opportunities in the commercial vessel, defense vessel, and special vessel markets. The global electric ship market is expected to reach an estimated $8.1 billion by 2030 with a CAGR of 15.8% from 2024 to 2030. The major drivers for this market are significantly growing port infrastructure, rising seaborne trade, and increasing adoption of hybrid and fully-electric vessels.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Electric Ship by Segment

The study includes a forecast for the global electric ship by power source, type, vessel type, and region.

Electric Ship Market by Power Source [Shipment Analysis by Value from 2018 to 2030]:

• Fully Electric
• Hybrid

Electric Ship Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Semi Autonomous
• Fully Autonomous

Electric Ship Market by Vessel Type [Shipment Analysis by Value from 2018 to 2030]:

• Commercial Vessels
• Defense Vessels
• Special Vessels
• Others

Electric Ship Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Electric Ship Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies electric ship companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the electric ship companies profiled in this report include-

• Boesch Motorboote
• Bureau Veritas
• Canadian Electric Boat
• Corvus Energy
• Yara
• Duffy Electric Boat
• General Dynamics Electric Boat
• KONGSBERG
• Electrovaya
• TRITON

Electric Ship Market Insights

Lucintel forecasts that hybrid will remain the larger segment over the forecast period because it ensures higher load requirements and extended range.

Within this market, commercial vessel will remain the largest segment due to growing use of electric ship solutions as they are inland vessels, which covers shorter distances.

Europe will remain the largest region over the forecast period due to the expanding demand for electric shipping solutions for both commercial as well as civil applications.

Features of the Global Electric Ship Market

Market Size Estimates: Electric ship market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Electric ship market size by power source, type, vessel type, and region in terms of value ($B).

Regional Analysis: Electric ship market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different power sources, types, vessel types, and regions for the electric ship market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the electric ship market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the electric ship market size?

Answer: The global electric ship market is expected to reach an estimated $8.1 billion by 2030.

Q2. What is the growth forecast for electric ship market?

Answer: The global electric ship market is expected to grow with a CAGR of 15.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the electric ship market?

Answer: The major drivers for this market are significantly growing port infrastructure, rising seaborne trade, and increasing adoption of hybrid and fully-electric vessels.

Q4. What are the major segments for electric ship market?

Answer: The future of the electric ship market looks promising with opportunities in the commercial vessel, defense vessel, and special vessel markets.

Q5. Who are the key electric ship market companies?

Answer: Some of the key electric ship companies are as follows:

• Boesch Motorboote
• Bureau Veritas
• Canadian Electric Boat
• Corvus Energy
• Yara
• Duffy Electric Boat
• General Dynamics Electric Boat
• KONGSBERG
• Electrovaya
• TRITON

Q6. Which electric ship market segment will be the largest in future?

Answer: Lucintel forecasts that hybrid will remain the larger segment over the forecast period because it ensures higher load requirements and extended range.

Q7. In electric ship market, which region is expected to be the largest in next 5 years?

Answer: Europe will remain the largest region over the forecast period due to the expanding demand for electric shipping solutions for both commercial as well as civil applications.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the electric ship market by power source (fully electric and hybrid), type (semi autonomous and fully autonomous), vessel type (commercial vessels, defense vessels, special vessels, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?