Marine Electric Vehicle Market worth $29.1 Billion by 2030

1
Marine Electric Vehicle Market Set to Soar to
29.1 Billion by 2030
The Global Marine Electric Vehicle Market is
projected to grow from USD 10.1 billion in 2022
to USD 29.1 billion by 2030, at a CAGR of 16.4
from 2023 to 2030. The global rise in sea- borne
trade is likely to drive growth in the
Marine Electric Vehicle Market across many
categories. Furthermore, the increasing demand
for electrified maritime solutions to curb
harmful emissions is a key factor driving the
growth in the market. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id67757407 Based on Ship Type, the
commercial segment is expected to dominate the
market share during the forecast period.
Increasing adoption of electric passenger
transportation vessels and recreational boats
that are replacing conventional vessels on
account of rising emissions and the need to
reduce fuel and operational costs. Based on
Technology, the fully electric segment is
projected to hold a larger market share during
the forecasted period. The growth of the fully
electric segment can also be attributed to the
increasing demand for electric medium and
small-sized vessels as well as fully electric
autonomous vessels. All manufacturers are
investing excessively in the manufacturing of
ships adhering to the strict regulations against
emissions. Based on the Range, the gt1,000 km
segment is expected to have higher growth during
the forecast period. With advancements in hybrid
electric propulsion systems, more long-range
vessels are expected to be introduced into the
market in the coming years. This will be one of
the driving factors for the segment. Based on
Region, Europe accounted for the largest market
share in 2023, and it is also projected to
witness the highest CAGR during the forecast
period. The expansion of the shipbuilding
industry can be attributed to the strong demand
for electric and hybrid electric ships within
the region. Leading the way in adopting electric
solutions for maritime vessels, countries such
as Norway, Denmark, the Netherlands, and Germany
have played a pivotal role in driving this
trend. Key Market Players Major players operating
in the Marine Electric Vehicle Market include ABB
(Switzerland), Siemens AG (Germany), BAE Systems
(UK), General Electric (US), and Kongsberg
Gruppen (Norway). These companies have reliable
manufacturing
2
facilities as well as strong distribution
networks across key regions, such as North
America, Europe, and Asia Pacific. Ask for Sample
Report _at_ https//www.marketsandmarkets.com/request
sampleNew.asp?id67757407 About
MarketsandMarkets MarketsandMarkets is a blue
ocean alternative in growth consulting and
program management, leveraging a man-machine
offering to drive supernormal growth for
progressive organizations in the B2B space. We
have the widest lens on emerging technologies,
making us proficient in co-creating supernormal
growth for clients. The B2B economy is witnessing
the emergence of 25 trillion of new revenue
streams that are substituting existing revenue
streams in this decade alone. We work with
clients on growth programs, helping them monetize
this 25 trillion opportunity through our
service lines - TAM Expansion, Go-to-Market (GTM)
Strategy to Execution, Market Share Gain,
Account Enablement, and Thought Leadership
Marketing. Built on the GIVE Growth principle,
we work with several Forbes Global 2000 B2B
companies - helping them stay relevant in a
disruptive ecosystem. Our insights and
strategies are molded by our industry experts,
cutting-edge AI-powered Market Intelligence
Cloud, and years of research. The KnowledgeStore
(our Market Intelligence Cloud) integrates our
research, facilitates an analysis of
interconnections through a set of applications,
helping clients look at the entire ecosystem and
understand the revenue shifts happening in their
industry. Contact Mr. Aashish Mehra
MarketsandMarkets INC. 630 Dundee Road Suite
430 Northbrook, IL 60062 USA 1-888-600-6441