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Electric Ships Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Publisher Global Market Insights
Published Aug 03, 2024
Length 250 Pages
SKU # GMI19157289

Description

Electric Ships Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032


Global Electric Ships Market size will expand at a 24.6% CAGR from 2024 to 2032, fueled by the focus on meeting corporate sustainability goals and enhancing fuel efficiency. Companies are increasingly focusing on minimizing their environmental footprint and complying with strict emissions regulations, leading to a surge in demand for electric and hybrid vessels. These vessels promise significant fuel savings and lower operational costs compared to traditional counterparts, aligning seamlessly with corporate goals of curbing carbon emissions. The combined focus on sustainability and efficiency drives both innovation and investment in electric ship technologies. In 2024, AtoB@C Shipping, a Swedish arm of ESL Shipping, inaugurated its third plug-in hybrid vessel in India. This milestone underscores the momentum in the electric hybrid ship sector. Such advancements highlight the escalating interest and financial commitment towards sustainable shipping, reinforcing the maritime industry's pivot towards greener practices. The electric ships industry is segmented based on the power source, system, operation, platform, end-use, and region. By 2032, the energy storage segment is poised for considerable growth, driven by the pressing demand for efficient and reliable power management systems. With the adoption of battery-powered propulsion and hybrid systems in electric ships, the need for robust energy storage solutions becomes paramount. These systems ensure operational efficiency and an extended vessel range while playing a crucial role in balancing power supply, curbing operational costs, and adhering to stringent environmental standards, solidifying their market dominance. The line fit segment is set to carve out a notable share in the electric ships industry over 2024-2032, with the demand for bespoke electric vessels. Shipbuilders and operators are increasingly leaning towards custom solutions that incorporate advanced electric propulsion systems from the outset, boosting both efficiency and performance. The trend is accentuated by the industry's shift towards greener technologies and tightening emissions regulations. Line fit solutions, with their tailored designs and optimizations, align seamlessly with the maritime industry's evolving standards, ensuring a significant market share. Asia Pacific region is on track to see a remarkable expansion in the electric ships market through 2032. This surge is driven by swift industrialization, investments in green technologies, and the development of robust maritime infrastructure. Countries across the region are adopting electric propulsion systems to meet stringent environmental standards and champion sustainable shipping practices. Government incentives further amplify this growth trajectory. Coupled with an expanding shipbuilding industry and a rising demand for energy-efficient vessels, APAC stands as a dominant contributor to the electric ships industry.

Table of Contents

250 Pages
Chapter 1 Scope and Methodology
1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast parameters
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 360° synopsis, 2021-2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Technology and innovation landscape
3.4 Patent analysis
3.5 Key news and initiatives
3.6 Regulatory landscape
3.7 Impact forces
3.7.1 Growth drivers
3.7.1.1 Shift toward low emission technologies
3.7.1.2 Rising integration of renewable energy sources
3.7.1.3 Stringent environmental regulations imposed by international and national maritime authorities
3.7.1.4 Growing adoption of electric boats and ships
3.7.1.5 Technological advancements in battery technology and electric propulsion systems
3.7.2 Industry pitfalls and challenges
3.7.2.1 High initial costs and technical issues
3.7.2.2 Limited range and battery life of current electric propulsion systems
3.8 Growth potential analysis
3.9 Porter’s analysis
3.9.1 Supplier power
3.9.2 Buyer power
3.9.3 Threat of new entrants
3.9.4 Threat of substitutes
3.9.5 Industry rivalry
3.10 PESTEL analysis  
Chapter 4 Competitive Landscape, 2023
4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix
Chapter 5 Market Estimates and Forecast, By Power Source, 2021-2032 (USD Million and Units)
5.1 Key trends
5.2 Electric
5.3 Hybrid
Chapter 6 Market Estimates and Forecast, By System, 2021–2032 (USD Million and Units)
6.1 Key trends
6.2 Energy storage
6.3 Power conversion
6.4 Power generation
6.5 Power distribution
Chapter 7 Market Estimates and Forecast, By Operation, 2021–2032 (USD Million and Units)
7.1 Key trends
7.2 Manned
7.3 Autonomous
Chapter 8 Market Estimates and Forecast, By Platform, 2021–2032 (USD Million and Units)
8.1 Key trends
8.2 Commercial
8.3 Defense
Chapter 9 Market Estimates and Forecast, By End-Use, 2021–2032 (USD Million and Units)
9.1 Key trends
9.2 Line fit
9.3 Retro fit
Chapter 10 Market Estimates and Forecast, By Region, 2021-2032 (USD Million and Units)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 ANZ
10.4.6 Rest of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Rest of Latin America
10.6 MEA
10.6.1 UAE
10.6.2 Saudi Arabia
10.6.3 South Africa
10.6.4 Rest of MEA
Chapter 11 Company Profiles
11.1 Austal
11.2 BMT Group
11.3 Brødrene Aa AS
11.4 China State Shipbuilding Corporation (CSSC)
11.5 Damen Shipyards Group
11.6 Duffy Electric Boat Company
11.7 Fincantieri
11.8 Fjord1
11.9 Gladding-Hearn Shipbuilding
11.10 Hyundai Heavy Industries (HHI)
11.11 Imabari Shipbuilding
11.12 Kawasaki Heavy Industries
11.13 Leclanché
11.14 MV Yara Birkeland
11.15 Navantia
11.16 Norwegian Electric Systems As
11.17 Samsung Heavy Industries
11.18 Tuco Marine Group
11.19 Vard Marine
11.20 Wartsila
 

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