Table of Content

1 INTRODUCTION 42
1.1 STUDY OBJECTIVES 42
1.2 MARKET DEFINITION 42
1.2.1 MARKETS COVERED 43
1.2.2 REGIONAL SCOPE 43
1.2.3 YEARS CONSIDERED 44
1.3 CURRENCY & PRICING 44
TABLE 1 USD EXCHANGE RATES, 2019–2021 44
1.4 LIMITATIONS 45
1.5 INCLUSIONS & EXCLUSIONS 45
1.6 MARKET STAKEHOLDERS 46
1.7 SUMMARY OF CHANGES 46
2 RESEARCH METHODOLOGY 47
2.1 RESEARCH DATA 47
FIGURE 1 REPORT PROCESS FLOW 47
FIGURE 2 ELECTRIC SHIPS MARKET: RESEARCH DESIGN 48
2.1.1 SECONDARY DATA 48
2.1.1.1 Key data from secondary sources 49
2.1.2 PRIMARY DATA 49
2.1.2.1 Key data from primary sources 50
2.2 RECESSION IMPACT ANALYSIS 50
2.2.1 DEMAND-SIDE ANALYSIS 50
FIGURE 3 US: NAVAL DEFENSE BUDGET 51
FIGURE 4 BREAKDOWN OF US NAVAL DEFENSE BUDGET 51
2.2.2 SUPPLY-SIDE ANALYSIS 52
FIGURE 5 QUARTERLY REVENUE OF TOP THREE COMPANIES 52
2.3 FACTOR ANALYSIS 52
2.3.1 INTRODUCTION 52
2.3.2 DEMAND-SIDE INDICATORS 53
2.3.2.1 Growing maritime tourism industry 53
2.3.3 SUPPLY-SIDE INDICATORS 53
2.3.3.1 Advanced batteries for electric ships 53
2.3.4 KEY PRIMARY DETAILS 54
TABLE 2 PRIMARY DETAILS 54
2.4 MARKET SIZE ESTIMATION & METHODOLOGY 54
2.4.1 BOTTOM-UP APPROACH 54
2.4.1.1 Regional electric ships market 54
2.4.1.2 Electric ships: demand-side analysis 55
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 55
2.4.2 TOP-DOWN APPROACH 56
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 56
2.5 DATA TRIANGULATION 57
FIGURE 8 DATA TRIANGULATION: ELECTRIC SHIPS MARKET 57
2.6 PRICING ANALYSIS 58
2.7 MARKET SIZING & FORECASTING 58
TABLE 3 RESEARCH ASSUMPTIONS 58
2.8 LIMITATIONS 59
2.9 LIST OF SOURCES 59
TABLE 4 PUBLICATIONS & ORDER BOOKS OF SHIPYARDS/COMPONENT SUPPLIERS/REGULATORY PUBLICATIONS CONSIDERED FOR MARKET STUDY 59
TABLE 5 MAGAZINES/PRESS RELEASES/NEWSLETTERS REFERRED TO FOR MARKET STUDY 61
3 EXECUTIVE SUMMARY 64
FIGURE 9 HYBRID ELECTRIC SHIPS EXPECTED TO DOMINATE MARKET IN 2022 64
FIGURE 10 MANNED SEGMENT PROJECTED TO LEAD ELECTRIC SHIPS MARKET FROM 2022 TO 2030 65
FIGURE 11 NEWBUILD & LINE FIT SEGMENT TO HOLD LARGEST SHARE DURING FORECAST PERIOD 65
FIGURE 12 EUROPE TO COMMAND ELECTRIC SHIPS MARKET IN 2022 66
4 PREMIUM INSIGHTS 67
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ELECTRIC SHIPS MARKET, 2022–2030 67
FIGURE 13 INCREASING NEED TO REDUCE EMISSIONS DRIVES DEMAND FOR ELECTRIC SHIPS 67
4.2 ELECTRIC SHIPS MARKET, BY PASSENGER SHIP TYPE 67
FIGURE 14 FERRIES TO LEAD MARKET DURING FORECAST PERIOD 67
4.3 ELECTRIC SHIPS MARKET, BY RANGE 68
FIGURE 15 50–100 KM SEGMENT EXPECTED TO LEAD MARKET DURING FORECAST PERIOD 68
4.4 ELECTRIC SHIPS MARKET, BY COUNTRY 68
FIGURE 16 MARKET IN FINLAND PROJECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 68
5 MARKET OVERVIEW 69
5.1 INTRODUCTION 69
5.2 ROADMAP OF MARINE ELECTRIFICATION 69
TABLE 6 MILESTONES IN IMPLEMENTATION PLAN FOR ELECTRIFICATION IN MARINE TRANSPORT (2025-2035-2050) 69
5.3 MARKET DYNAMICS 71
FIGURE 17 ELECTRIC SHIPS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 71
5.3.1 DRIVERS 71
5.3.1.1 Implementation of IMO Sulphur 2020 regulation 71
TABLE 7 SULFUR CONTENT REGULATIONS IN BUNKER FUEL 72
5.3.1.2 Rise in adoption of hybrid and electric propulsion to retrofit ships 72
5.3.1.3 Increase in seaborne trade across globe 73
5.3.1.4 Growing maritime tourism industry 73
FIGURE 18 GLOBAL CRUISE INDUSTRY, BY REGION, 2021 74
5.3.1.5 Development of lithium-ion batteries 74
FIGURE 19 MOST COMMON LITHIUM-ION BATTERIES WITH KEY FEATURES 74
TABLE 8 CURRENT BATTERY CAPACITY AND REQUIREMENTS OF SHIPS 75
5.3.1.6 Need for reduction in carbon emissions 75
5.3.1.7 Reduction in overall operating costs of ships 76
5.3.2 RESTRAINTS 77
5.3.2.1 Long downtime in retrofitting ships 77
5.3.2.2 Limited range and capacity of fully electric ships 77
5.3.3 OPPORTUNITIES 77
5.3.3.1 Potential of high-powered batteries 77
FIGURE 20 RELATIVE FEASIBILITY OF DIFFERENT ENERGY STORAGE TECHNOLOGIES 78
5.3.3.2 Potential for battery charging via renewable sources of energy 78
5.3.3.3 Hybrid propulsion technology for large ships 79
5.3.4 CHALLENGES 79
5.3.4.1 Inadequate charging infrastructure 79
5.3.4.2 High initial capital expenditure 79
5.4 PRICING ANALYSIS 80
TABLE 9 CASE 1: CAPITAL EXPENDITURE, SAVINGS, AND PAYBACK 80
TABLE 10 CASE 2: CAPITAL EXPENDITURE, SAVINGS, AND PAYBACK 80
TABLE 11 CASE 3: CAPITAL EXPENDITURE, SAVINGS, AND PAYBACK 80
TABLE 12 AVERAGE SELLING PRICE OF ELECTRIC SHIPPING HARDWARE (USD MILLION) 81
5.5 VALUE CHAIN ANALYSIS 81
FIGURE 21 VALUE CHAIN ANALYSIS: ELECTRIC SHIPS MARKET 81
5.6 MARKET ECOSYSTEM MAP 82
FIGURE 22 ELECTRIC SHIPS MARKET: ECOSYSTEM MAP 82
5.7 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 83
5.7.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR ELECTRIC SHIPS MARKET 83
FIGURE 23 REVENUE SHIFT IN ELECTRIC SHIPS MARKET 83
5.8 PORTER’S FIVE FORCES ANALYSIS 83
FIGURE 24 PORTER’S FIVE FORCES ANALYSIS OF ELECTRIC SHIPS MARKET 83
TABLE 13 PORTER’S FIVE FORCES ANALYSIS 84
5.8.1 THREAT OF NEW ENTRANTS 84
5.8.2 THREAT OF SUBSTITUTES 84
5.8.3 BARGAINING POWERS OF SUPPLIERS 84
5.8.4 BARGAINING POWERS OF BUYERS 84
5.8.5 INTENSITY OF COMPETITIVE RIVALRY 84
5.9 TRADE ANALYSIS: IMPORT/EXPORT DATA 85
5.9.1 INTERNATIONAL MARITIME TRADE DATA, 2010–2019 85
FIGURE 25 DEVELOPMENT OF INTERNATIONAL MARITIME TRADE (2010–2019) 85
5.9.2 WORLD SEABORNE TRADE, 2015–2019 85
TABLE 14 WORLD SEABORNE TRADE, 2015–2019 85
5.10 RECESSION IMPACT ANALYSIS 86
FIGURE 26 RECESSION IMPACT ANALYSIS 86
5.11 CASE STUDY ANALYSIS 86
5.11.1 USE CASE: AURIGA LEADER 86
5.11.2 USE CASE: YARA BIRKELAND 87
5.11.3 USE CASE: CHANGJIANG SAN XIA 1 87
5.11.4 USE CASE: ELLEN 87
5.11.5 USE CASE: FUTURE OF THE FJORDS 87
5.12 TARIFF AND REGULATORY LANDSCAPE 88
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 89
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 89
FIGURE 27 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF ELECTRIC SHIP PRODUCTS AND SYSTEMS 89
TABLE 15 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF ELECTRIC SHIP PRODUCTS AND SYSTEMS (%) 89
5.13.2 BUYING CRITERIA 90
FIGURE 28 KEY BUYING CRITERIA FOR ELECTRIC SHIP PRODUCTS AND SYSTEMS 90
TABLE 16 KEY BUYING CRITERIA FOR ELECTRIC SHIP PRODUCTS AND SYSTEMS 90
5.14 KEY CONFERENCES AND EVENTS, 2023 90
TABLE 17 ELECTRIC SHIPS MARKET: CONFERENCES AND EVENTS IN 2023 90
6 INDUSTRY TRENDS 91
6.1 INTRODUCTION 91
6.2 ROADMAP TOWARD EMISSION-FREE SHIPPING INDUSTRY 91
FIGURE 29 ROADMAP TOWARD EMISSION-FREE SHIPPING INDUSTRY 91
6.3 PHASING OF MARINE PROPULSION TECHNOLOGIES 92
FIGURE 30 POTENTIAL PHASING OF DIFFERENT PROPULSION TECHNOLOGIES IN MARINE INDUSTRY 92
6.4 EMERGING TRENDS 93
FIGURE 31 EMERGING TRENDS 93
6.4.1 ELECTRIFICATION OF LEISURE BOATS 93
6.4.2 POTENTIAL OF HYBRID TECHNOLOGY 93
6.4.3 SOLAR SAILS 94
6.4.4 ADVANCED BATTERIES FOR ELECTRIC SHIPS 94
6.4.5 HYDROGEN AS ZERO-EMISSION FUEL 95
6.4.6 BATTERY-POWERED NAVAL VESSELS 95
6.4.7 NEXT-GENERATION SOLID-STATE BATTERY TECHNOLOGY 96
6.4.7.1 Summary of commercial batteries 96
6.5 SUPPLY CHAIN ANALYSIS 96
FIGURE 32 ELECTRIC SHIPS: SUPPLY CHAIN 97
6.6 ELECTRIC SHIPS MARKET: KEY PATENTS 98
7 ELECTRIC SHIPS MARKET, BY SHIP TYPE 99
7.1 INTRODUCTION 100
FIGURE 33 COMMERCIAL SEGMENT PROJECTED TO DOMINATE ELECTRIC SHIPS MARKET DURING FORECAST PERIOD 100
TABLE 18 ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 100
TABLE 19 ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 100
7.2 COMMERCIAL 101
TABLE 20 COMMERCIAL ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 101
TABLE 21 COMMERCIAL ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 101
7.2.1 PASSENGER VESSELS 101
TABLE 22 ELECTRIC PASSENGER VESSELS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 101
TABLE 23 ELECTRIC PASSENGER VESSELS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 102
TABLE 24 ELECTRIC PASSENGER VESSELS VOLUME (UNITS) 102
TABLE 25 ELECTRIC CARGO VESSELS VOLUME (UNITS) 102
TABLE 26 OTHER COMMERCIAL ELECTRIC VESSELS VOLUME (UNITS) 102
7.2.1.1 Yachts 103
7.2.1.1.1 Solar power used to charge batteries of fully electric yachts 103
7.2.1.2 Ferries 103
7.2.1.2.1 High adoption in North America and Europe due to changing environmental regulations 103
7.2.1.3 Cruise ships 103
7.2.1.3.1 Adoption of hybrid-electric propulsion technology likely to increase in coming years 103
7.2.1.4 Motorboats 104
7.2.1.4.1 Rising demand for electric motorboats in Europe 104
7.2.2 CARGO VESSELS 104
TABLE 27 ELECTRIC CARGO VESSELS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 104
TABLE 28 ELECTRIC CARGO VESSELS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 104
7.2.2.1 Container vessels 105
7.2.2.1.1 First to adopt full electric setup due to smaller size 105
7.2.2.2 Bulk carriers 105
7.2.2.2.1 Retrofit demand in bulk carriers to increase in coming years 105
7.2.2.3 Tankers 105
7.2.2.3.1 Increasing developments underway to equip tankers with lithium-ion batteries 105
7.2.2.4 General cargo ships 105
7.2.2.4.1 High potential of retrofit market for general cargo ships 105
7.2.3 OTHERS 106
TABLE 29 OTHER COMMERCIAL VESSELS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 106
TABLE 30 OTHER COMMERCIAL VESSELS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 106
7.2.3.1 Fishing vessels 106
7.2.3.1.1 Rising adoption of electric propulsion in fishing vessels 106
7.2.3.2 Dredgers 107
7.2.3.2.1 Negligible market for dredgers with fully electric propulsion system 107
7.2.3.3 Tugs & workboats 107
7.2.3.3.1 Account for major share of global ship fleet 107
7.2.3.4 Research vessels 107
7.2.3.4.1 Market for retrofitting research vessels larger than newbuilds 107
7.2.3.5 Submarines 107
7.2.3.5.1 Useful for underwater exploration due to minimal vibration from motor 107
7.3 DEFENSE 108
TABLE 31 DEFENSE ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 108
TABLE 32 DEFENSE ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 108
7.3.1 DESTROYERS 108
7.3.1.1 Defense forces of US, UK, and India to focus on integration of electric propulsive destroyers 108
7.3.2 FRIGATES 109
7.3.2.1 Electric and hybrid propulsion used in frigates either directly or along with diesel engine 109
7.3.3 CORVETTES 109
7.3.3.1 South Korea key market for corvettes with all-electric propulsion 109
7.3.4 OFFSHORE SUPPORT VESSELS 109
7.3.4.1 Adoption of hybrid propulsion technology for OSVs to increase during forecast period 109
7.3.5 AIRCRAFT CARRIERS 109
7.3.5.1 Indian Navy states possibility of using aircraft carrier with hybrid propulsion 109
7.3.6 SUBMARINES 109
7.3.6.1 US, France, and India ? currently using or developing electric propulsion systems 109
8 ELECTRIC SHIPS MARKET, BY TYPE 110
8.1 INTRODUCTION 111
FIGURE 34 FULLY ELECTRIC SEGMENT EXPECTED TO GROW AT HIGHER CAGR DURING FORECAST PERIOD 111
TABLE 33 ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 111
TABLE 34 ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 111
TABLE 35 CRUISE SHIPS MARKET VOLUME, BY POWER SOURCE (UNITS) 112
TABLE 36 YACHTS MARKET VOLUME, BY POWER SOURCE (UNITS) 112
TABLE 37 FERRY MARKET VOLUME, BY POWER SOURCE (UNITS) 112
TABLE 38 COMMERCIAL SHIPS MARKET VOLUME, BY POWER SOURCE (UNITS) 112
8.2 FULLY ELECTRIC 113
TABLE 39 GLOBAL ELECTRIC SHIP PROJECTS 113
TABLE 40 LIST OF FULLY ELECTRIC SHIPS 114
FIGURE 35 NUMBER OF FULLY ELECTRIC SHIPS, BY COUNTRY, 2019 114
TABLE 41 FULLY ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 114
TABLE 42 FULLY ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 115
8.2.1 BATTERY 115
8.2.1.1 Lithium battery 115
8.2.1.1.1 Major power source for hybrid and fully electric vessels 115
8.2.1.2 Lead acid battery 115
8.2.1.2.1 Wide range of applications in marine sector 115
8.2.2 ELECTRO-SOLAR 115
8.2.2.1 Involves use of renewable energy to recharge batteries in ships 115
8.2.3 FUEL CELLS 116
8.2.3.1 Alternative to lithium-ion and lead acid batteries 116
TABLE 43 ONGOING FUEL CELL PROJECTS IN SHIPPING INDUSTRY 116
8.3 HYBRID 117
FIGURE 36 EXPERT VIEWS ON HYBRID TECHNOLOGY 117
TABLE 44 HYBRID ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 117
TABLE 45 HYBRID ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 118
8.3.1 DIESEL & BATTERY 118
8.3.1.1 Significant advancements to encourage adoption of hybrid-electric propulsion in large cruise ships 118
8.3.2 LPG/LNG & BATTERY 118
8.3.2.1 LPG/LNG engines use electric propulsion motors to power ships 118
9 ELECTRIC SHIPS MARKET, BY END USE 119
9.1 INTRODUCTION 120
FIGURE 37 NEWBUILD & LINE FIT SEGMENT EXPECTED TO LEAD MARKET DURING FORECAST PERIOD 120
TABLE 46 ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 120
TABLE 47 ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 121
9.2 NEWBUILD & LINE FIT 121
9.2.1 HIGH DEMAND FOR FULLY ELECTRIC FERRIES IN EUROPE 121
9.3 RETROFIT 122
9.3.1 INCREASE IN RETROFITTING TO INCREASE EFFICIENCY AND EXTEND DURABILITY OF VESSELS 122
10 ELECTRIC SHIPS MARKET, BY POWER 123
10.1 INTRODUCTION 124
FIGURE 38 75–150 KW SEGMENT PROJECTED TO DOMINATE ELECTRIC SHIPS MARKET DURING FORECAST PERIOD 124
TABLE 48 ELECTRIC SHIPS MARKET, BY POWER, 2018–2021 (USD MILLION) 124
TABLE 49 ELECTRIC SHIPS MARKET, BY POWER, 2022–2030 (USD MILLION) 125
10.2 <75 KW 125
10.2.1 DEMAND FOR FULLY ELECTRIC YACHTS IN EUROPE TO DRIVE MARKET 125
10.3 75–150 KW 125
10.3.1 USE OF FULLY ELECTRIC FERRIES FOR TRANSPORT TO BOOST MARKET 125
10.4 151–745 KW 126
10.4.1 CARGO VESSELS WITH 151–745 KW POWER RANGE TO PRESENT LARGE RETROFIT MARKET 126
10.5 746–7,560 KW 126
10.5.1 INCREASED DEVELOPMENT OF HYBRID PROPULSION IN 746–7560 KW SEGMENT 126
10.6 >7,560 KW 126
10.6.1 ADOPTION OF HYBRID-ELECTRIC PROPULSION SYSTEMS CHALLENGING IN SHIPS WITH HIGH POWER CAPACITY 126
11 ELECTRIC SHIPS MARKET, BY TONNAGE 127
11.1 INTRODUCTION 128
FIGURE 39 <500 DWT SEGMENT PROJECTED TO LEAD ELECTRIC SHIPS MARKET DURING FORECAST PERIOD 128
TABLE 50 ELECTRIC SHIPS MARKET, BY TONNAGE, 2018–2021 (USD MILLION) 128
TABLE 51 ELECTRIC SHIPS MARKET, BY TONNAGE, 2022–2030 (USD MILLION) 129
11.2 <500 DWT 129
11.2.1 RISE IN DEMAND FOR PUBLIC TRANSPORT VESSELS TO DRIVE MARKET 129
11.3 500–5,000 DWT 129
11.3.1 INCREASING MARINE TRADE ACROSS VARIOUS INDUSTRIES TO BOOST MARKET 129
11.4 5,001–15,000 DWT 129
11.4.1 INCREASING CROSS-COUNTRY TRADE BY CARGO VESSELS TO DRIVE DEMAND 129
11.5 >15,000 DWT 130
11.5.1 GROWING DEFENSE MARINE INDUSTRY TO FUEL MARKET 130
12 ELECTRIC SHIPS MARKET, BY SYSTEM 131
12.1 INTRODUCTION 132
FIGURE 40 POWER CONVERSION SEGMENT TO GROW FASTEST DURING FORECAST PERIOD 132
TABLE 52 ELECTRIC SHIPS MARKET, BY SYSTEM, 2018–2021 (USD MILLION) 132
TABLE 53 ELECTRIC SHIPS MARKET, BY SYSTEM, 2022–2030 (USD MILLION) 133
12.2 ENERGY STORAGE SYSTEMS 133
FIGURE 41 TYPES OF ENERGY STORAGE SYSTEMS 133
FIGURE 42 FLYWHEEL, SMES, AND ULTRA-CAPACITORS: EFFICIENT FOR USE IN SHIPPING INDUSTRY 134
TABLE 54 COMPARISON OF PRINCIPAL ENERGY STORAGE SYSTEMS 134
12.2.1 <1,000 KW 135
12.2.1.1 <1,000 kW energy storage systems majorly required by small ships 135
12.2.2 1,001–5,000 KW 135
12.2.2.1 Tourism to drive 1,001–5,000-kW segment for Ro-Ro and sightseeing boats 135
12.2.3 >5,000 KW 135
12.2.3.1 >5,000 kW power used by large ships 135
12.3 POWER CONVERSION 135
12.4 POWER GENERATION 135
TABLE 55 ELECTRIC PROPULSION SHIP (8,444G/T, CEMENT CARRYING VESSEL) AND EXISTING SHIP: COMPARISON 136
12.4.1 GENERATORS 136
12.4.1.1 Rise in demand for electric propulsion to increase demand for generators 136
12.4.2 ENGINES 137
12.4.2.1 Hybrid propulsion to boost demand for engines 137
12.4.3 PROPULSION MOTORS 137
12.4.3.1 Retrofitting to fuel demand for propulsion motors 137
12.5 POWER DISTRIBUTION 137
13 ELECTRIC SHIPS MARKET, BY MODE OF OPERATION 138
13.1 INTRODUCTION 139
FIGURE 43 MANNED SEGMENT TO COMMAND LARGEST MARKET SHARE DURING FORECAST PERIOD 139
TABLE 56 ELECTRIC SHIPS MARKET, BY MODE OF OPERATION, 2018–2021 (USD MILLION) 139
TABLE 57 ELECTRIC SHIPS MARKET, BY MODE OF OPERATION, 2022–2030 (USD MILLION) 139
13.2 MANNED 140
13.2.1 RETROFITTING DIESEL-DRIVEN SHIPS WITH ELECTRIC AND HYBRID PROPULSION TO DRIVE SEGMENT 140
13.3 REMOTELY OPERATED 140
13.3.1 INCREASING INVESTMENTS IN REMOTELY OPERATED SHIPS TO BOOST SEGMENT 140
13.4 AUTONOMOUS 140
13.4.1 INCREASING INVESTMENTS DRIVE MARKET FOR AUTONOMOUS ELECTRIC SHIPS 140
FIGURE 44 VIEWS ON AUTONOMY IN ELECTRIC SHIPS BY INDUSTRY EXPERTS 141
14 ELECTRIC SHIPS MARKET, BY RANGE 142
14.1 INTRODUCTION 143
FIGURE 45 50–100 KM SEGMENT PROJECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 143
TABLE 58 ELECTRIC SHIPS MARKET, BY RANGE, 2018–2021 (USD MILLION) 143
TABLE 59 ELECTRIC SHIPS MARKET, BY RANGE, 2022–2030 (USD MILLION) 144
14.2 <50 KM 144
14.2.1 ADOPTION OF FULLY ELECTRIC PASSENGER FERRIES AND TUGS TO DRIVE SEGMENT 144
14.3 50–100 KM 144
14.3.1 DEMAND FOR FULLY ELECTRIC INLAND CONTAINER SHIPS TO FUEL MARKET 144
14.4 100–1,000 KM 145
14.4.1 INCREASED DEMAND FOR RETROFITTING CARGO VESSELS TO FUEL SEGMENT 145
14.5 >1,000 KM 145
14.5.1 HIGH DEMAND FOR LONG-DISTANCE CARGO VESSELS TO BOOST MARKET 145
15 REGIONAL ANALYSIS 146
15.1 INTRODUCTION 147
FIGURE 46 EUROPE ESTIMATED TO HOLD LARGEST SHARE OF ELECTRIC SHIPS MARKET IN 2022 147
15.1.1 REGIONAL RECESSION IMPACT ANALYSIS 148
FIGURE 47 NAVAL BUDGET TREND, BY REGION (2019–2022) 148
TABLE 60 REGIONAL RECESSION IMPACT ANALYSIS 149
TABLE 61 ELECTRIC SHIPS MARKET, BY REGION, 2018–2021 (USD MILLION) 150
TABLE 62 ELECTRIC SHIPS MARKET, BY REGION, 2022–2030 (USD MILLION) 150
15.2 NORTH AMERICA 151
15.2.1 PESTLE ANALYSIS: NORTH AMERICA 151
FIGURE 48 NORTH AMERICA: ELECTRIC SHIPS MARKET SNAPSHOT 153
TABLE 63 NORTH AMERICA: ELECTRIC SHIPS MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 153
TABLE 64 NORTH AMERICA: ELECTRIC SHIPS MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 153
TABLE 65 NORTH AMERICA: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 154
TABLE 66 NORTH AMERICA: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 154
TABLE 67 NORTH AMERICA: FULLY ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 154
TABLE 68 NORTH AMERICA: FULLY ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 154
TABLE 69 NORTH AMERICA: HYBRID ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 154
TABLE 70 NORTH AMERICA: HYBRID ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 155
TABLE 71 NORTH AMERICA: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 155
TABLE 72 NORTH AMERICA: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 155
TABLE 73 NORTH AMERICA: COMMERCIAL ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 155
TABLE 74 NORTH AMERICA: COMMERCIAL ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 156
TABLE 75 NORTH AMERICA: ELECTRIC PASSENGER VESSELS MARKET, BY TYPE, 2018–2021 (USD MILLION) 156
TABLE 76 NORTH AMERICA: ELECTRIC PASSENGER VESSELS MARKET, BY TYPE, 2022–2030 (USD MILLION) 156
TABLE 77 NORTH AMERICA: ELECTRIC CARGO VESSELS MARKET, BY TYPE, 2018–2021 (USD MILLION) 156
TABLE 78 NORTH AMERICA: ELECTRIC CARGO VESSELS MARKET, BY TYPE, 2022–2030 (USD MILLION) 157
TABLE 79 NORTH AMERICA: OTHER COMMERCIAL VESSELS MARKET, BY TYPE, 2018–2021 (USD MILLION) 157
TABLE 80 NORTH AMERICA: OTHER COMMERCIAL VESSELS MARKET, BY TYPE, 2022–2030 (USD MILLION) 157
TABLE 81 NORTH AMERICA: ELECTRIC SHIPS MARKET, BY MODE OF OPERATION, 2018–2021 (USD MILLION) 158
TABLE 82 NORTH AMERICA: ELECTRIC SHIPS MARKET, BY MODE OF OPERATION, 2022–2030 (USD MILLION) 158
TABLE 83 NORTH AMERICA: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 158
TABLE 84 NORTH AMERICA: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 158
TABLE 85 NORTH AMERICA: ELECTRIC SHIPS MARKET, BY RANGE, 2018–2021 (USD MILLION) 159
TABLE 86 NORTH AMERICA: ELECTRIC SHIPS MARKET, BY RANGE, 2022–2030 (USD MILLION) 159
TABLE 87 NORTH AMERICA: ELECTRIC SHIPS MARKET, BY POWER, 2018–2021 (USD MILLION) 159
TABLE 88 NORTH AMERICA: ELECTRIC SHIPS MARKET, BY POWER, 2022–2030 (USD MILLION) 159
15.2.2 US 160
15.2.2.1 High demand for luxury sailing to increase adoption of electric boats 160
TABLE 89 US: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 160
TABLE 90 US: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 160
TABLE 91 US: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 160
TABLE 92 US: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 161
TABLE 93 US: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 161
TABLE 94 US: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 161
15.2.3 CANADA 161
15.2.3.1 Strategic government decision to develop indigenous marine industry 161
TABLE 95 CANADA: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 162
TABLE 96 CANADA: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 162
TABLE 97 CANADA: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 162
TABLE 98 CANADA: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 162
TABLE 99 CANADA: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 163
TABLE 100 CANADA: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 163
15.3 EUROPE 163
15.3.1 PESTLE ANALYSIS: EUROPE 163
FIGURE 49 EUROPE: ELECTRIC SHIPS MARKET SNAPSHOT 165
TABLE 101 EUROPE: ELECTRIC SHIPS MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 166
TABLE 102 EUROPE: ELECTRIC SHIPS MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 166
TABLE 103 EUROPE: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 166
TABLE 104 EUROPE: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 166
TABLE 105 EUROPE: FULLY ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 167
TABLE 106 EUROPE: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 167
TABLE 107 EUROPE: HYBRID ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 167
TABLE 108 EUROPE: HYBRID ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 167
TABLE 109 EUROPE: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 167
TABLE 110 EUROPE: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 168
TABLE 111 EUROPE: ELECTRIC COMMERCIAL SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 168
TABLE 112 EUROPE: ELECTRIC COMMERCIAL SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 168
TABLE 113 EUROPE: ELECTRIC PASSENGER VESSELS MARKET, BY TYPE, 2018–2021 (USD MILLION) 168
TABLE 114 EUROPE: ELECTRIC PASSENGER VESSELS MARKET, BY TYPE, 2022–2030 (USD MILLION) 169
TABLE 115 EUROPE: ELECTRIC CARGO VESSELS MARKET, BY TYPE, 2018–2021 (USD MILLION) 169
TABLE 116 EUROPE: ELECTRIC CARGO VESSELS MARKET, BY TYPE, 2022–2030 (USD MILLION) 169
TABLE 117 EUROPE: OTHER COMMERCIAL VESSELS MARKET, BY TYPE, 2018–2021 (USD MILLION) 169
TABLE 118 EUROPE: OTHER COMMERCIAL VESSELS MARKET, BY TYPE, 2022–2030 (USD MILLION) 170
TABLE 119 EUROPE: ELECTRIC SHIPS MARKET, BY MODE OF OPERATION, 2018–2021 (USD MILLION) 170
TABLE 120 EUROPE: ELECTRIC SHIPS MARKET, BY MODE OF OPERATION, 2022–2030 (USD MILLION) 170
TABLE 121 EUROPE: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 170
TABLE 122 EUROPE: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 171
TABLE 123 EUROPE: ELECTRIC SHIPS MARKET, BY RANGE, 2018–2021 (USD MILLION) 171
TABLE 124 EUROPE: ELECTRIC SHIPS MARKET, BY RANGE, 2022–2030 (USD MILLION) 171
TABLE 125 EUROPE: ELECTRIC SHIPS MARKET, BY POWER 2018–2021 (USD MILLION) 171
TABLE 126 EUROPE: ELECTRIC SHIPS MARKET, BY POWER, 2022–2030 (USD MILLION) 172
15.3.2 NORWAY 172
15.3.2.1 Implementation of IMO rule to drive adoption of hybrid or electric propulsion 172
FIGURE 50 CO2 EMISSIONS FROM DOMESTIC SHIPPING IN NORWAY 172
TABLE 127 NORWAY: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 173
TABLE 128 NORWAY: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 173
TABLE 129 NORWAY: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 173
TABLE 130 NORWAY: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 173
TABLE 131 NORWAY: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 174
TABLE 132 NORWAY: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 174
15.3.3 GREECE 174
15.3.3.1 Stringent IMO 2020 rule to drive demand for electric ships 174
TABLE 133 GREECE: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 174
TABLE 134 GREECE: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 174
TABLE 135 GREECE: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 175
TABLE 136 GREECE: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 175
TABLE 137 GREECE: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 175
TABLE 138 GREECE: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 175
15.3.4 NETHERLANDS 176
15.3.4.1 Push toward using zero-emission ships to reduce costs and improve efficiency 176
TABLE 139 NETHERLANDS: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 176
TABLE 140 NETHERLANDS: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 176
TABLE 141 NETHERLANDS: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 176
TABLE 142 NETHERLANDS: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 177
TABLE 143 NETHERLANDS: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 177
TABLE 144 NETHERLANDS: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 177
15.3.5 FINLAND 177
15.3.5.1 Major focus on green marine technologies 177
TABLE 145 FINLAND: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 178
TABLE 146 FINLAND: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 178
TABLE 147 FINLAND: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 178
TABLE 148 FINLAND: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 178
TABLE 149 FINLAND: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 178
TABLE 150 FINLAND: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 179
15.3.6 GERMANY 179
15.3.6.1 Upgrades of ship equipment to boost demand for electric ships 179
TABLE 151 GERMANY: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 179
TABLE 152 GERMANY: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 179
TABLE 153 GERMANY: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 180
TABLE 154 GERMANY: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 180
TABLE 155 GERMANY: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 180
TABLE 156 GERMANY: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 180
15.3.7 DENMARK 180
15.3.7.1 Presence of stringent environmental regulations 180
TABLE 157 DENMARK: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 181
TABLE 158 DENMARK: ELECTRIC SHIP



15.4 ASIA PACIFIC 184
15.4.1 PESTLE ANALYSIS: ASIA PACIFIC 184
FIGURE 51 ASIA PACIFIC: ELECTRIC SHIPS MARKET SNAPSHOT 185
TABLE 169 ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 186
TABLE 170 ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY COUNTRY, 2022–2030 (USD MILLION) 186
TABLE 171 ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 186
TABLE 172 ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 186
TABLE 173 ASIA PACIFIC: FULLY ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 187
TABLE 174 ASIA PACIFIC: FULLY ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 187
TABLE 175 ASIA PACIFIC: HYBRID ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 187
TABLE 176 ASIA PACIFIC: HYBRID ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 187
TABLE 177 ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 188
TABLE 178 ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 188
TABLE 179 ASIA PACIFIC: COMMERCIAL ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 188
TABLE 180 ASIA PACIFIC: COMMERCIAL ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 188
TABLE 181 ASIA PACIFIC: ELECTRIC PASSENGER VESSELS MARKET, BY TYPE, 2018–2021 (USD MILLION) 189
TABLE 182 ASIA PACIFIC: ELECTRIC PASSENGER VESSELS MARKET, BY TYPE, 2022–2030 (USD MILLION) 189
TABLE 183 ASIA PACIFIC: ELECTRIC CARGO VESSELS MARKET, BY TYPE, 2018–2021 (USD MILLION) 189
TABLE 184 ASIA PACIFIC: ELECTRIC CARGO VESSELS MARKET, BY TYPE, 2022–2030 (USD MILLION) 190
TABLE 185 ASIA PACIFIC: OTHER COMMERCIAL VESSELS MARKET, BY TYPE, 2018–2021 (USD MILLION) 190
TABLE 186 ASIA PACIFIC: OTHER COMMERCIAL VESSELS MARKET, BY TYPE, 2022–2030 (USD MILLION) 190
TABLE 187 ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY MODE OF OPERATION, 2018–2021 (USD MILLION) 191
TABLE 188 ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY MODE OF OPERATION, 2022–2030 (USD MILLION) 191
TABLE 189 ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 191
TABLE 190 ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY END USE, 2021–2030 (USD MILLION) 191
TABLE 191 ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY RANGE, 2018–2021 (USD MILLION) 192
TABLE 192 ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY RANGE, 2022–2030 (USD MILLION) 192
TABLE 193 ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY POWER, 2018–2021 (USD MILLION) 192
TABLE 194 ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY POWER, 2022–2030 (USD MILLION) 192
15.4.2 CHINA 193
15.4.2.1 Presence of several shipbuilding companies 193
TABLE 195 CHINA: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 193
TABLE 196 CHINA: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 193
TABLE 197 CHINA: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 193
TABLE 198 CHINA: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 194
TABLE 199 CHINA: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 194
TABLE 200 CHINA: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 194
15.4.3 SOUTH KOREA 194
15.4.3.1 Adoption of fuel cells for development of ships and hydrogen economy 194
TABLE 201 SOUTH KOREA: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 195
TABLE 202 SOUTH KOREA: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 195
TABLE 203 SOUTH KOREA: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 195
TABLE 204 SOUTH KOREA: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 195
TABLE 205 SOUTH KOREA: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 195
TABLE 206 SOUTH KOREA: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 196
15.4.4 JAPAN 196
15.4.4.1 Focus on reduction of greenhouse gas emissions from international shipping 196
TABLE 207 JAPAN: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 196
TABLE 208 JAPAN: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 196
TABLE 209 JAPAN: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2020 (USD MILLION) 197
TABLE 210 JAPAN: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 197
TABLE 211 JAPAN: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 197
TABLE 212 JAPAN: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 197
15.4.5 NEW ZEALAND 197
15.4.5.1 Increased focus on shift from diesel-driven ships to electric ships to reduce operational costs 197
TABLE 213 NEW ZEALAND: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 198
TABLE 214 NEW ZEALAND: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 198
TABLE 215 NEW ZEALAND: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 198
TABLE 216 NEW ZEALAND: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 198
TABLE 217 NEW ZEALAND: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 198
TABLE 218 NEW ZEALAND: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 199
15.4.6 INDIA 199
15.4.6.1 Significant retrofit potential for navy ships 199
TABLE 219 INDIA: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 199
TABLE 220 INDIA: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 199
TABLE 221 INDIA: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 200
TABLE 222 INDIA: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 200
TABLE 223 INDIA: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 200
TABLE 224 INDIA: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 200
15.4.7 REST OF ASIA PACIFIC 200
15.4.7.1 Increasing development of electric passenger ferries 200
TABLE 225 REST OF ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 201
TABLE 226 REST OF ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 201
TABLE 227 REST OF ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 201
TABLE 228 REST OF APAC: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 201
TABLE 229 REST OF ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 202
TABLE 230 REST OF ASIA PACIFIC: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 202
15.5 REST OF THE WORLD 202
15.5.1 PESTLE ANALYSIS: REST OF THE WORLD 202
FIGURE 52 REST OF THE WORLD: ELECTRIC SHIPS MARKET SNAPSHOT 204
TABLE 231 REST OF THE WORLD: ELECTRIC SHIPS MARKET, BY REGION, 2018–2021 (USD MILLION) 204
TABLE 232 REST OF THE WORLD: ELECTRIC SHIPS MARKET, BY REGION, 2022–2030 (USD MILLION) 205
TABLE 233 REST OF THE WORLD: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 205
TABLE 234 REST OF THE WORLD: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 205
TABLE 235 REST OF THE WORLD: FULLY ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 205
TABLE 236 REST OF THE WORLD: FULLY ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 206
TABLE 237 REST OF THE WORLD: HYBRID ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 206
TABLE 238 REST OF THE WORLD: HYBRID ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 206
TABLE 239 REST OF THE WORLD: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 206
TABLE 240 REST OF THE WORLD: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 207
TABLE 241 REST OF THE WORLD: COMMERCIAL ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 207
TABLE 242 REST OF THE WORLD: COMMERCIAL ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 207
TABLE 243 REST OF THE WORLD: ELECTRIC PASSENGER VESSELS MARKET, BY TYPE, 2018–2021 (USD MILLION) 207
TABLE 244 REST OF THE WORLD: ELECTRIC PASSENGER VESSELS MARKET, BY TYPE, 2022–2030 (USD MILLION) 208
TABLE 245 REST OF THE WORLD: ELECTRIC CARGO VESSELS MARKET, BY TYPE, 2018–2021 (USD MILLION) 208
TABLE 246 REST OF THE WORLD: ELECTRIC CARGO VESSELS MARKET, BY TYPE, 2022–2030 (USD MILLION) 208
TABLE 247 REST OF THE WORLD: OTHER COMMERCIAL VESSELS MARKET, BY TYPE, 2018–2021 (USD MILLION) 209
TABLE 248 REST OF THE WORLD: OTHER COMMERCIAL VESSELS MARKET, BY TYPE, 2022–2030 (USD MILLION) 209
TABLE 249 REST OF THE WORLD: ELECTRIC SHIPS MARKET, BY MODE OF OPERATION, 2018–2021 (USD MILLION) 209
TABLE 250 REST OF THE WORLD: ELECTRIC SHIPS MARKET, BY MODE OF OPERATION, 2022–2030 (USD MILLION) 210
TABLE 251 REST OF THE WORLD: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 210
TABLE 252 REST OF THE WORLD: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 210
TABLE 253 REST OF THE WORLD: ELECTRIC SHIPS MARKET, BY RANGE, 2018–2021 (USD MILLION) 210
TABLE 254 REST OF THE WORLD: ELECTRIC SHIPS MARKET, BY RANGE, 2022–2030 (USD MILLION) 211
TABLE 255 REST OF THE WORLD: ELECTRIC SHIPS MARKET, BY POWER, 2018–2021 (USD MILLION) 211
TABLE 256 REST OF THE WORLD: ELECTRIC SHIPS MARKET, BY POWER, 2022–2030 (USD MILLION) 211
15.5.2 LATIN AMERICA 212
15.5.2.1 Large fleet size of ships to encourage adoption of hybrid propulsion 212
TABLE 257 LATIN AMERICA: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 212
TABLE 258 LATIN AMERICA: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 212
TABLE 259 LATIN AMERICA: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 212
TABLE 260 LATIN AMERICA: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 213
TABLE 261 LATIN AMERICA: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 213
TABLE 262 LATIN AMERICA: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 213
15.5.3 MIDDLE EAST & AFRICA 213
15.5.3.1 Retrofitting of existing fleet of ships to boost market 213
TABLE 263 MIDDLE EAST & AFRICA: ELECTRIC SHIPS MARKET, BY TYPE, 2018–2021 (USD MILLION) 214
TABLE 264 MIDDLE EAST & AFRICA: ELECTRIC SHIPS MARKET, BY TYPE, 2022–2030 (USD MILLION) 214
TABLE 265 MIDDLE EAST & AFRICA: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2018–2021 (USD MILLION) 214
TABLE 266 MIDDLE EAST & AFRICA: ELECTRIC SHIPS MARKET, BY SHIP TYPE, 2022–2030 (USD MILLION) 214
TABLE 267 MIDDLE EAST & AFRICA: ELECTRIC SHIPS MARKET, BY END USE, 2018–2021 (USD MILLION) 215
TABLE 268 MIDDLE EAST & AFRICA: ELECTRIC SHIPS MARKET, BY END USE, 2022–2030 (USD MILLION) 215
16 COMPETITIVE LANDSCAPE 216
16.1 INTRODUCTION 216
16.2 RANKING OF LEADING PLAYERS, 2022 216
FIGURE 53 RANKING OF LEADING PLAYERS IN ELECTRIC SHIPS MARKET, 2022 216
16.3 MARKET SHARE ANALYSIS OF LEADING PLAYERS, 2022 217
FIGURE 54 ELECTRIC SHIPS MARKET: SHARE OF LEADING BATTERY SUPPLIERS, 2022 217
FIGURE 55 ELECTRIC SHIPS MARKET: SHARE OF LEADING SYSTEM INTEGRATORS, 2022 217
FIGURE 56 ELECTRIC SHIPS MARKET SHARE, BY AREA OF OPERATION, 2022 218
FIGURE 57 ELECTRIC SHIPS MARKET SHARE, BY BATTERY APPLICATION, 2022 218
FIGURE 58 ELECTRIC SHIPS MARKET SHARE, BY MODE OF OPERATION 219
16.4 REVENUE ANALYSIS OF TOP FIVE MARKET PLAYERS, 2022 219
FIGURE 59 REVENUE ANALYSIS OF LEADING PLAYERS IN ELECTRIC SHIPS MARKET, 2022 219
16.5 COMPETITIVE OVERVIEW 220
TABLE 269 KEY DEVELOPMENTS BY LEADING PLAYERS IN ELECTRIC SHIPS MARKET BETWEEN 2018 AND 2023 220
16.6 COMPANY PRODUCT FOOTPRINT ANALYSIS 221
TABLE 270 COMPANY PRODUCT FOOTPRINT 221
TABLE 271 COMPANY TYPE FOOTPRINT 222
TABLE 272 COMPANY SHIP TYPE FOOTPRINT 223
TABLE 273 COMPANY REGION FOOTPRINT 224
16.7 COMPANY EVALUATION QUADRANT 225
16.7.1 STARS 225
16.7.2 EMERGING LEADERS 225
16.7.3 PERVASIVE PLAYERS 225
16.7.4 PARTICIPANTS 225
FIGURE 60 ELECTRIC SHIPS MARKET COMPETITIVE LEADERSHIP MAPPING, 2022 226
16.8 STARTUPS/SME EVALUATION QUADRANT 227
16.8.1 PROGRESSIVE COMPANIES 227
16.8.2 RESPONSIVE COMPANIES 227
16.8.3 DYNAMIC COMPANIES 227
16.8.4 STARTING BLOCKS 227
FIGURE 61 ELECTRIC SHIPS MARKET: STARTUPS/SME COMPETITIVE LEADERSHIP MAPPING, 2022 228
16.9 COMPETITIVE BENCHMARKING 229
TABLE 274 ELECTRIC SHIP MARKET: KEY STARTUPS/SMES 229
16.10 COMPETITIVE SCENARIO 229
16.10.1 DEALS 229
TABLE 275 DEALS, 2018–2023 229
16.10.2 PRODUCT LAUNCHES 272
TABLE 276 PRODUCT LAUNCHES, 2018–2023 272
16.10.3 OTHERS 273
TABLE 277 OTHERS, 2018–2023 273
17 COMPANY PROFILES 274
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) *
17.1 INTRODUCTION 274
17.2 KEY PLAYERS 275
17.2.1 ABB 275
TABLE 278 ABB: BUSINESS OVERVIEW 275
FIGURE 62 ABB: COMPANY SNAPSHOT 276
TABLE 279 ABB: PRODUCTS/SERVICES/SOLUTIONS OFFERED 276
TABLE 280 ABB: DEALS 277
17.2.2 W?RTSIL? 282
TABLE 281 W?RTSIL?: BUSINESS OVERVIEW 282
FIGURE 63 W?RTSIL?: COMPANY SNAPSHOT 283
TABLE 282 W?RTSIL?: PRODUCTS/SERVICES/SOLUTIONS OFFERED 283
TABLE 283 W?RTSIL?: DEALS 284
TABLE 284 W?RTSIL?: PRODUCT LAUNCHES 287
17.2.3 KONGSBERG GRUPPEN 289
TABLE 285 KONGSBERG GRUPPEN: BUSINESS OVERVIEW 289
FIGURE 64 KONGSBERG GRUPPEN: COMPANY SNAPSHOT 290
TABLE 286 KONGSBERG GRUPPEN: PRODUCTS/SERVICES/SOLUTIONS OFFERED 290
TABLE 287 KONGSBERG GRUPPEN: DEALS 291
17.2.4 GENERAL ELECTRIC COMPANY 295
TABLE 288 GENERAL ELECTRIC COMPANY: BUSINESS OVERVIEW 295
FIGURE 65 GENERAL ELECTRIC COMPANY: COMPANY SNAPSHOT 296
TABLE 289 GENERAL ELECTRIC COMPANY: PRODUCTS/SERVICES/SOLUTIONS OFFERED 296
TABLE 290 GENERAL ELECTRIC COMPANY: DEALS 297
17.2.5 VARD (FINCANTIERI) 300
TABLE 291 VARD (FINCANTIERI): BUSINESS OVERVIEW 300
TABLE 292 VARD (FINCANTIERI): PRODUCTS/SERVICES/SOLUTIONS OFFERED 300
TABLE 293 VARD (FINCANTIERI): DEALS 301
17.2.6 SIEMENS 304
TABLE 294 SIEMENS: BUSINESS OVERVIEW 304
FIGURE 66 SIEMENS: COMPANY SNAPSHOT 305
TABLE 295 SIEMENS: PRODUCTS/SERVICES/SOLUTIONS OFFERED 305
TABLE 296 SIEMENS: DEALS 306
17.2.7 LECLANCH? SA 308
TABLE 297 LECLANCH? SA: BUSINESS OVERVIEW 308
FIGURE 67 LECLANCH? SA: COMPANY SNAPSHOT 309
TABLE 298 LECLANCH? SA: PRODUCTS/SERVICES/SOLUTIONS OFFERED 309
TABLE 299 LECLANCH? SA: DEALS 310
TABLE 300 LECLANCH? SA: PRODUCT LAUNCHES 311
17.2.8 BAE SYSTEMS 312
TABLE 301 BAE SYSTEMS: BUSINESS OVERVIEW 312
FIGURE 68 BAE SYSTEMS: COMPANY SNAPSHOT 313
TABLE 302 BAE SYSTEMS: PRODUCTS/SERVICES/SOLUTIONS OFFERED 313
TABLE 303 BAE SYSTEMS: DEALS 314
17.2.9 SAFT 315
TABLE 304 SAFT: BUSINESS OVERVIEW 315
FIGURE 69 SAFT: COMPANY SNAPSHOT 316
TABLE 305 SAFT: PRODUCTS/SERVICES/SOLUTIONS OFFERED 316
TABLE 306 SAFT: DEALS 317
17.2.10 NORWEGIAN ELECTRIC SYSTEMS AS (HAVYARD GROUP ASA) 318
TABLE 307 NORWEGIAN ELECTRIC SYSTEMS AS (HAVYARD GROUP ASA): BUSINESS OVERVIEW 318
TABLE 308 NORWEGIAN ELECTRIC SYSTEMS AS (HAVYARD GROUP ASA): PRODUCTS/SERVICES/SOLUTIONS OFFERED 318
TABLE 309 NORWEGIAN ELECTRIC SYSTEMS AS (HAVYARD GROUP ASA): DEALS 319
17.2.11 MAN ENERGY SOLUTIONS SE (TRATON GROUP) 322
TABLE 310 MAN ENERGY SOLUTIONS SE (TRATON GROUP): BUSINESS OVERVIEW 322
TABLE 311 MAN ENERGY SOLUTIONS SE (TRATON GROUP): PRODUCTS & SERVICES OFFERED 322
TABLE 312 MAN ENERGY SOLUTIONS SE (TRATON GROUP): DEALS 323
17.2.12 CORVUS ENERGY 326
TABLE 313 CORVUS ENERGY: BUSINESS OVERVIEW 326
TABLE 314 CORVUS ENERGY: PRODUCTS/SERVICES/SOLUTIONS OFFERED 326
TABLE 315 CORVUS ENERGY: DEALS 327
TABLE 316 CORVUS ENERGY: OTHERS 330
17.2.13 ECHANDIA MARINE AB 331
TABLE 317 ECHANDIA MARINE AB: BUSINESS OVERVIEW 331
TABLE 318 ECHANDIA MARINE AB: PRODUCTS/SERVICES/SOLUTIONS OFFERED 331
TABLE 319 ECHANDIA MARINE AB: DEALS 332
17.2.14 GENERAL DYNAMICS ELECTRIC BOAT 334
TABLE 320 GENERAL DYNAMICS ELECTRIC BOAT: BUSINESS OVERVIEW 334
TABLE 321 GENERAL DYNAMICS ELECTRIC BOAT: PRODUCTS/SERVICES/SOLUTIONS OFFERED 334
TABLE 322 GENERAL DYNAMICS ELECTRIC BOAT: DEALS 335
17.2.15 ANGLO BELGIAN CORPORATION (ABC) NV 336
TABLE 323 ANGLO BELGIAN CORPORATION (ABC) NV: BUSINESS OVERVIEW 336
TABLE 324 ANGLO BELGIAN CORPORATION (ABC) NV: PRODUCTS/SERVICES/SOLUTIONS OFFERED 337
TABLE 325 ANGLO BELGIAN CORPORATION (ABC) NV: DEALS 337
17.2.16 SCHOTTEL GMBH 339
TABLE 326 SCHOTTEL GMBH: BUSINESS OVERVIEW 339
TABLE 327 SCHOTTEL GMBH: PRODUCTS/SERVICES/SOLUTIONS OFFERED 340
TABLE 328 SCHOTTEL GMBH: DEALS 340
17.2.17 VISEDO (DANFOSS) 343
TABLE 329 VISEDO (DANFOSS): BUSINESS OVERVIEW 343
TABLE 330 VISEDO (DANFOSS): PRODUCTS/SERVICES/SOLUTIONS OFFERED 343
TABLE 331 VISEDO (DANFOSS): DEALS 344
17.2.18 BORGWARNER 347
TABLE 332 BORGWARNER: BUSINESS OVERVIEW 347
TABLE 333 BORGWARNER: PRODUCTS/SERVICES/SOLUTIONS OFFERED 347
TABLE 334 BORGWARNER: DEALS 348
17.2.19 FJELLSTRAND 349
TABLE 335 FJELLSTRAND: BUSINESS OVERVIEW 349
TABLE 336 FJELLSTRAND: PRODUCTS/SERVICES/SOLUTIONS OFFERED 349
TABLE 337 FJELLSTRAND: PRODUCT LAUNCHES 350
TABLE 338 FJELLSTRAND: DEALS 350
17.2.20 S?BY V?RFT A/S 351
TABLE 339 S?BY V?RFT A/S: BUSINESS OVERVIEW 351
TABLE 340 S?BY V?RFT A/S: PRODUCTS/SERVICES/SOLUTIONS OFFERED 351
17.2.21 MITSUBISHI SHIPBUILDING CO. LTD. 352
TABLE 341 MITSUBISHI SHIPBUILDING CO. LTD.: BUSINESS OVERVIEW 352
TABLE 342 MITSUBISHI SHIPBUILDING CO. LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED 352
TABLE 343 MITSUBISHI SHIPBUILDING CO. LTD.: DEALS 353
17.3 OTHER PLAYERS 354
17.3.1 ECO MARINE POWER CO. LTD. 354
TABLE 344 ECO MARINE POWER CO. LTD.: COMPANY OVERVIEW 354
17.3.2 EST FLOATTECH 355
TABLE 345 EST FLOATTECH: COMPANY OVERVIEW 355
17.3.3 THE COCHIN SHIPYARD 356
TABLE 346 THE COCHIN SHIPYARD: COMPANY OVERVIEW 356
17.3.4 SHIFT 357
TABLE 347 SHIFT: COMPANY OVERVIEW 357
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.
18 APPENDIX 358
18.1 DISCUSSION GUIDE 358
18.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 360
18.3 CUSTOMIZATION OPTIONS 362
18.4 RELATED REPORTS 362
18.5 AUTHOR DETAILS 363