Retrofitting ships are gaining interest and attracting shipowners/shipbuilders to extend the lifetime of their existing ships. Such a process provides a chance to reduce fuel consumption and stay up to date with the latest eco-friendly solutions as a cost-effective procedure. Retrofitting is becoming a common practice in the maritime industry. Further, shipbuilders are moving toward automation, integrating new build ships, and retrofitting existing ships with hybrid and electric propulsion systems. A hybrid-electric propulsion system is a convenient choice for retrofitting outdated ships. Ships have a large retrofit potential, including ferries, container vessels, cruise ships, tugboats, and general cargo ships. Shipbuilders choose to retrofit ships with a hybrid-electric propulsion system or a fully electric propulsion system as it is a relatively cheaper option than purchasing a new ship. These factors mentioned above have resulted in the adoption of hybrid and electric propulsion systems for retrofitting ships.
North America Electric Ship Market Segmentation
The North America electric ship market is segmented based on type, power, range, ship type and country. Based on type, the North America electric ship market is segmented into battery electric ships, plug-in hybrid electric ships, and hybrid electric ships. The hybrid electric ships segment dominated the North America electric ship market in 2020. Based on power, the North America electric ship market is segmented into less than 75 Kw, 75 - 150 Kw, 151 - 745 Kw, 746 - 7560 Kw, and more than 7560 Kw. The 746 - 7560 Kw segment dominated the North America electric ship market in 2020. Based on range, North America electric ship market is segmented into Less than 50 Km, 50 - 100 Km, 101 - 1000 Km, and more than 1000 Km. The 50 - 100 Km segment dominated the North America electric ship market in 2020. Based on ship type, North America electric ship market is segmented into cruise ships, ferries, tankers, bulk carriers, fishing vessels, destroyers, aircraft carriers, and others. The others segment dominated the North America electric ship market in 2020. Based on country, the North America electric ship market is segmented into the US, Canada, and Mexico. The US segment dominated the North America electric ship market in 2020.
BAE System; Duffy Electric Boat Company; General Dynamic Electric Boat; MAN Energy Solution; Siemens Energy; and Vard AS are among the leading companies in the North America electric ship market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1054.16 Million |
| Market Size by 2028 | US$ 2272.17 Million |
| CAGR (2021 - 2028) | 11.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Electric Ship Market is valued at US$ 1054.16 Million in 2021, it is projected to reach US$ 2272.17 Million by 2028.
As per our report North America Electric Ship Market, the market size is valued at US$ 1054.16 Million in 2021, projecting it to reach US$ 2272.17 Million by 2028. This translates to a CAGR of approximately 11.6% during the forecast period.
The North America Electric Ship Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Electric Ship Market report:
The North America Electric Ship Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Electric Ship Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Electric Ship Market value chain can benefit from the information contained in a comprehensive market report.
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