Global Electrical Propulsion System in Ships Market Growth (Status and Outlook) 2025-2031

The global Electrical Propulsion System in Ships market size is predicted to grow from US$ 3090 million in 2025 to US$ 6237 million in 2031; it is expected to grow at a CAGR of 12.4% from 2025 to 2031.

Electric Propulsion System in Ships is a system that uses electricity to drive the ship's propeller. Compared with traditional mechanical propulsion systems, it has higher flexibility, energy efficiency and environmental protection.

Global Shipping Industry Growth and Maritime Trade Expansion. The continued growth of the global shipping industry and the increase in maritime trade volume have driven the demand for ship power market. New trade routes: The melting of Arctic ice has opened up shorter trade routes, reducing transportation time and costs. With the increase in international trade and ocean shipping demand, the number of ships and shipping frequency have gradually increased, and modern electric drive equipment has become an important option for shipping companies to ensure navigation safety. In the military field, the application power of electric propulsion systems on ships has continued to increase in recent years. With the need for high stealth performance of ships themselves and the increase in power demand for new equipment, the application scope of integrated electric propulsion will continue to expand. In the civilian field, the pollutant emissions of ships using integrated electric propulsion systems have been significantly reduced, and integrated electric propulsion has become the main direction of upgrading ship power technology. The shipping industry has made great progress in the research and development of reducing propulsion costs without increasing marine pollution. The traditional propulsion system of ships is highly efficient, but requires high operating costs and increases marine pollution. Of all the potential alternative energy sources, electric propulsion systems are one of the most worthwhile alternatives to try today.

LPI (LP Information)' newest research report, the “Electrical Propulsion System in Ships Industry Forecast” looks at past sales and reviews total world Electrical Propulsion System in Ships sales in 2024, providing a comprehensive analysis by region and market sector of projected Electrical Propulsion System in Ships sales for 2025 through 2031. With Electrical Propulsion System in Ships sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Electrical Propulsion System in Ships industry.

This Insight Report provides a comprehensive analysis of the global Electrical Propulsion System in Ships landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on Electrical Propulsion System in Ships portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Electrical Propulsion System in Ships market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Electrical Propulsion System in Ships and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Electrical Propulsion System in Ships.

This report presents a comprehensive overview, market shares, and growth opportunities of Electrical Propulsion System in Ships market by product type, application, key players and key regions and countries.

Segmentation by Type:
Shaftline Propulsion
Pod Propulsion
Others

Segmentation by Application:
Passenger Ship
Military Ship
Work Ship
Transport Ship
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
ABB
Siemens
GE Vernova
Wartsila
Leonardo DRS
Rolls-Royce
Yanmar
Daihatsu Diesel Mfg
CSSC
MAN Energy Solutions
Ingeteam Marine
Xiangtan Electric Manufacturing Co., Ltd

Please note: The report will take approximately 2 business days to prepare and deliver.