Electric Ships Market Global Analysis and Forecast to 2028

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Electric ShipsMarket Overview

 The electric ships market was valued US$ 3.82 billion in 2021, it is estimated to grow at a CAGR of 10.3% from 2021 to 2028.

 An electric boat is any boat or ship whose primary propulsion technology is an electric drive system. It can be a full-battery electric, hydrogen fuel cell electric, electric hybrid boat or ship, from tugboats, ferries, cargo ships, and barges to tour boats, fishing trawlers, cruising yachts, and unmanned underwater vehicles (UUVs). Electric ships are driven electrically, unlike conventional diesel engine ships. These ships use a battery storage device as their power source to drive electric motors. Numerous types of batteries can be used in an electric ship, including lithium-ion batteries, lead-acid batteries, and fuel cells. Electric ships are mainly ferries and small passenger ships on inland waterways that sail entirely with electricity. They travel only short distances with ~80 km in a single charge. Further, solarpowered ships are also used in lightweight ships that require low power output. However, the power requirements of cargo ships cannot be fulfilled by a fully electric system due to heavyweight; hence cargo ships are utilizing a hybrid diesel-electric system.

By Geography

 North America (the US, Canada, and Mexico)

Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe)

Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific)

Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa)

South & Central America (Brazil, Argentina, and the Rest of South & Central America).