North America Electric Ship Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Battery Electric ships, Plug-In Hybrid Electric ships, and Hybrid Electric Ships), Power (Less than 75 Kw, 75 - 150 Kw, 151 - 745 Kw, 746 - 7560 Kw, and More than 7560 Kw), Range (Less than 50 Km, 50 - 100 Km, 101 - 1000 Km, and More than 1000 Km), and Ship Type (Cruise Ships, Ferries, Tankers, Bulk Carriers, Fishing Vessels, Destroyers, Aircraft Carriers, and Others)

The North America electric ship market is expected to grow from US$ 1054.16 million in 2021 to US$ 2272.17 million by 2028; it is estimated to grow at a CAGR of 11.6% from 2021 to 2028.

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 A hybrid-electric propulsion system is a convenient choice for retrofitting outdated ships.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.

  
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America electric ship market. The North America electric ship market is expected to grow at a good CAGR during the forecast period.

North America Electric Ship Market Revenue and Forecast to 2028 (US$ Million)

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.

1. BAE System
2. Duffy Electric Boat Company
3. General Dynamic Electric Boat
4. MAN Energy Solution
5. Siemens Energy
6. Vard AS

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