Electric Ship Market $16.2 billion in 2030

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The electric ship market to reach $ 16.2 billion in 2030.


The global electric ship market will grow from $ 4.7 billion in 2021 to $ 16.2 billion by 2030, with an annual growth rate of 14.9% between 2021 and 2030. Polish shipyards are successful in this innovative market.

Electric propulsion systems will become increasingly common in maritime transport. Their introduction to the shipping market will accelerate after 2025. Experts justify this by tightening the policy limiting the use of traditional ship fuels – is on Electric Ship Market by Type – Global Forecast to 2030 report.

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Europe is at the forefront of purchasing electric ships

The electric ship market in Europe will grow by the highest value, from $ 3,358 million in 2021 to $ 11,922 million in 2030, depending on the EU region.

Scandinavian countries are the leaders in Europe. Norway, Finland and Denmark actively began replacing conventional passenger ferries with fully electric passenger ferries several years ago.

Polish shipyards benefit from this policy together with shipyards from other European countries. Crist and Remontowa Shipbuilding have a strong position in the market of building electric ferries for customers from Scandinavian countries. Electric ships for the Norwegian, Finnish and British markets were built in Gdańsk and Gdynia.

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Electric and autonomous

Some electric ships are also provided as autonomous ships. Rolls-Royce and the Finnish operator FinFerries presented the world’s first fully autonomous ferry 5 years ago. The control system was mounted on the ferry. The 54-meter ferry with 80 passengers detected obstacles at sea thanks to sensors and artificial intelligence – Rolls-Royce Ship Intelligence.

Mitsui OSK Lines (MOL) has announced that it has deployed the coastal autonomous container ship Mikage to the sea. The ship has successfully passed sea trials. It is the first ship of this type in the world. The Imoto Lines ship sailed independently from Tsuruga Port in Fukui Prefecture, Japan, to Sakai in Tottori Prefecture. The ship covered the distance between the ports by about 300 kilometers. It took place on January 24 and 25 this year.

In Norway, the first voyage, still with a crew, was made to Oslo by the small container ship Yara Birkeland. It is supposed to be an autonomous ship. The unit will provide transport between the Yara fertilizer plant in Herøya and the ports of Brevik and Larvik. The vessel will make it possible to eliminate 40.000 road transports between the fertilizer factory and these ports.

Ships for over $ 9.3 billion in 2027

The electric ship market was USD 5,114.6 million in 2020. The global electric ship market will reach USD 9,361.4 million by 2027. This value will be achieved with the assumed annual growth rate (CAGR) of 10.6% in 2021-2027 – forecast the authors of the report “Electric Ships Market Statistics 2027”.

Shipowners, public administrations, and investors from Norway, the United States, Greece, China and France order mainly electric ships. They were actively involved in the modernization of the fleets. They are ordering hybrid and electric ships on a large scale.

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Demand for vessel conversion. Nauta has an experience

The first fully electric cargo ship in China can travel 80 km and carry 2,200 tons of cargo. A large electric container ship can transport around 200,000 TEU in containers.

Demand for the conversion of ships with traditional propulsion to hybrid ships is increasing. Wartsila has signed a contract with Hagland Shipping AS for the modernization of general cargo carriers operating on the “short see” market with diesel engines to a hybrid battery drive. This is one example.

The conversion was performed by Nauta Shipyard for the Scandinavian offshore fleet operator. On the Viking Neptun (Offshore Support Vessel), the propulsion system was upgraded to a hybrid one. Two sets of Wartsila batteries with a capacity of 870 kWh were installed on the ship.

Four 1.25 MW drives in containers were installed on the ship. Containers with battery packs are connected to switchboards with power and control cables. A new freshwater cooling system for battery packs has been installed. The existing hull structure was strengthened. Power cables for the VLS tower were installed.