Electric Ship Market Expected to Exceed $14.5 Billion by 2030, MarkWide Research Reports
According to a new report published by MarkWide Research, titled, “Electric Ship Market,” the global market for electric ships is expected to exceed $14.5 billion by 2030, displaying a robust CAGR of 8.2% during the forecast period from 2023 to 2030.
Electric ships, powered by electricity, offer a sustainable and environmentally friendly alternative to traditional marine propulsion systems. The market’s growth is driven by the increasing focus on reducing carbon emissions, advancements in electric propulsion technology, and the transition to cleaner energy sources in the maritime industry.
Key findings from the report:
- Environmental Sustainability: Electric ships contribute to reduced greenhouse gas emissions and support eco-friendly maritime practices.
- Energy Efficiency: Electric propulsion systems offer greater energy efficiency and lower operational costs.
- Naval Applications: Electric ships find applications in naval fleets, passenger vessels, and cargo transport.
- Market Competitors: Leading players in the electric ship market include Siemens AG, ABB Group, and General Electric Company, who continually innovate to meet evolving industry demands.
The report predicts substantial growth in the global electric ship market as the maritime industry embraces sustainable and energy-efficient propulsion solutions. MarkWide Research’s comprehensive analysis provides insights into the market’s current landscape and future trends, empowering maritime professionals, shipbuilders, and industry stakeholders to make informed decisions and capitalize on opportunities in the electric ship market.
MarkWide Research is a leading market research and consulting firm, providing in-depth analysis and strategic insights across various industries. With a team of experienced analysts, MarkWide Research is committed to delivering actionable intelligence, assisting clients in making informed business decisions and achieving sustainable growth.