PUNE, India, Oct. 20, 2022 (GLOBE NEWSWIRE) — The global electric ship market amounted to USD 5.50 billion in 2019. The global market size is expected to gain momentum by reaching USD 10.82 billion by 2027, showing a CAGR of 11.2% during the forecast period of 2021-2027. This information is provided by Fortune Business Insights in its report titled “Electric Ships Market, 2021-2027”.
According to our analysts, the global electric ship market will gain momentum with the increasing collaborative efforts of numerous well-known manufacturers. For example, seven Japanese companies formed a consortium called e5. It would help commercialize and develop all-electric zero-emission ships over the next two years.
Request a sample copy of the research report: https://www.fortunebusinessinsights.com/enquiry/sample/electric-ships-market-104444
Report Highlights:
| report coverage | details |
| forecast period | 2020-2027 |
| Forecast period 2020 to 2027 CAGR | 11.2% |
| Value prognosis 2027 | $10.82 billion |
| base year | 2019 |
| Market size in 2019 | $5.50 billion |
| Historical data for | 2016-2018 |
| number of pages | 200 |
| segments covered | By energy source, by power, by ship type, by autonomy level and by region |
| growth accelerator | Increasing government initiatives to promote growth in Europe |
| Implementation of various regulations to increase demand |
Effects of COVID-19:
COVID-19: Disruptions in supply of battery raw materials hamper growth
The COVID-19 pandemic has forced original equipment manufacturers (OEMs) and investors to defer funding for unique programs like autonomous ship operations. Disturbances in the supply of materials for battery systems are also a major concern for several manufacturers. Most raw materials such as cobalt, nickel and lithium are imported from Japan and China. But these countries are in full lockdown amid the pandemic. We’ll help you better understand the current situation to look for key investment areas.
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