October 27, 2020

Electric Ship Market Forecast Report 2020 – 2027 – Top Key Players Analysis

The market report aims to provide an overview of the industry through detailed market segmentation. The report provides thorough information regarding the overview and scope of the market, along with the market drivers, restrains, and key trends. It covers both the quantitative and qualitative aspects of the industry in each region and country participating in the study.

Key Drivers of the Electric Ship Market:

The primary factors contributing to the growth of the global electric ship market include the implementation of the Sulfur 2020 Rule, growing adoption of hybrid and electric propulsion for retrofitting of ships, increasing marine time tourism industry, rising development of lithium-ion batteries, along with growing seaborne trades across the world. The increasing aim of decreasing harmful emissions from ships at a global level is further surging the growth of the market. For example, in 2018, the European Union launched a study on compliance with the sulfur needs for marine fuels to decrease all liquid fuels' sulfur content. These amendments are focusing on reducing contaminants at sea, coupled with air, which are expected to bolster market growth in the upcoming years. In addition to this, potential in charging of batteries through renewable energy resources such as wind energy or solar, increasing adoption of hybrid propulsion technologies in hybrid ships, and rising development of high powered batteries are creating new opportunities for the growth of the market. On the other hand, the restricted capacity of fully-electric ships and high downtime in retrofitting of ships will hinder the growth of the market.

This report splits the Electric Ship Market as follows:

By Type:

  • Fully Electric

o Lithium Battery

o Lead Acid Battery

o Electro-Solar

o Fuel Cells

  • Hybrid

o Diesel & Battery Driven

o LPG/LNG & Battery Driven

By System:

  • Energy Storage Systems

o <1,000 kW

o 1,000 - 5,000 kW

o >5,000 kW

  • Power Conversion
  • Power Generation

o Generators

o Engines

o Propulsion Motors

  • Power Distribution

By Mode of Operation:

  • Manned
  • Remotely Operated
  • Autonomous

By Ship Type:

  • Commercial

o Passenger Vessels

  • Yachts
  • Ferries
  • Cruise Ships

o Cargo Vessels

  • Container Vessels
  • Bulk Vessels
  • Tankers
  • General Cargo Ships

o Others

  • Fishing Vessels
  • Dredgers
  • Tugs, & Workboats
  • Research Vessels
  • Submarine
  • Defence

o Destroyers

o Frigates

o Corvettes

o Offshore Support Vessels (OSV)

o Aircraft Carriers

o Submarine

By Power:

  • <75 kW
  • 75-150 kW
  • 151-745 kW
  • 756-7,560 kW

By Range:

  • <50 km
  • 50-100 km
  • 101-1,000 km
  • >1,000 km

By End-Use:

  • Newbuild and Line Fit
  • Retrofits

By Region:

  • North America

o United States of America

o Canada

  • Asia Pacific

o China

o Japan

o India

o Rest of APAC

  • Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

  • RoW

o Brazil

o South Africa

o Saudi Arabia

o UAE

o Rest of the world (remaining countries of the LAMEA region)

Competitive Landscape:

The electric ship market report also scans the competitive landscape and profiles the major players operating in the market including Wartsila Corporation, General Electric, Vard Group AS, Kongsberg Gruppen, Leclanche SA, BAE Systems plc, Norwegian Electric Systems, Siemens AG, MAN Energy Solutions SE, Corvus Energy, and General Dynamics Electric Boat.

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