Electric Ships Market Size is projected to grow at a USD of 15.7 Billion at a CAGR of 10.8% from 2020-2030
The global electric ships market is experiencing a significant growth due to demand for environment friendly transport system. Electric ships are electrically driven ship unlike conventional diesel engine ships. These ships use a battery bank as its source of power to drive electric motor. Variety of battery banks can be used in an electric ship such as lead-acid battery, lithium-ion battery, and fuel cells among others. Solar powered ships are also used in lightweight ships that require low power output. However, the power requirements of cargo ships cannot be fulfilled by fully electric system due to heavy weight, hence cargo ships are utilizing hybrid diesel-electric system.
Some of the drivers driving the global market for electric ships include an increase in maritime traffic, rising demand for emission-free transportation, and rising usage of fully electric passenger vessels. However, inadequate battery capacity and products with a lengthy charging procedure limit market expansion. On the other hand, the growth of maritime sports, the digitalization of the marine industry, and the study of energy storage devices open up new opportunities for the sector.
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Global Electric Ships Market: Major Players
Corvus Energy
Duffy Electric Boat
Tamarack Lake Electric Boat Company
Electrovaya
Boesch Motorboote
Saft
Torqeedo
Triton Submarines
Ruban Bleu
Global Electric Ships Market: Types
Battery Electric Ships
Plug-In Hybrid Electric Ships
Hybrid Electric Ships
Global Electric Ships Market: Applications
Work
Leisure
Global Electric Ships Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Electric Ships market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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