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#Marine Fully Electric Propulsion Market
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maximizegn1 · 5 months
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A prominent global market research organization has recently published an all-encompassing market research report focusing on the “Marine Fully Electric Propulsion Market”. This comprehensive report presents a wealth of data and visually engaging representations, facilitating an in-depth analysis of both regional and global markets.
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delvenservices · 10 months
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Electric Ship Market Report Scope
Electric Ship Market by Type (Fully Electric, Hybrid), System, Mode of Operation (Manned, Remotely Operated, Autonomous), Ship Type (Commercial, Defense), Power, Range, Tonnage, End Use (Linefit and Retrofit), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Market Overview
Electric Ships Market Size is projected to grow at a USD of 15.7 billion by 2020 at a CAGR of 10.8% from 2021 to 2028.
An electric boat is a form of electric vehicle designed to carry off marine operations by propelling the boat through batteries rather than by fuel. Batteries used in electric boats are similar to the batteries used in electric vehicles. Electric ships are mainly ferries and small passenger ships on inland waterways that sail completely with electricity. They sail only short distances and dock often.
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International Maritime Organization’s ruling on reducing sulphur emissions and worldwide adoption of fully electric passenger vessels is the factor that has supported long-term expansion for Electric Ships Market.
The COVID-19 pandemic hampered the growth of the electric boat and ship market due to the shutdown of manufacturing facilities and trade restrictions imposed worldwide.
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Regional Analysis
Europe is projected to grow the highest CAGR during the forecast period, due to the increase in demand for electric ships for fully electric passenger vessels, tugs, yachts, and cruise vessels, among others. Countries such as Norway, Finland, and Denmark have actively started replacing conventional passenger ferries with fully electric passenger ferries. Major developments in autonomous electric vessels that use fuel cells and remotely controlled electric vessels are also driving the market in Europe to grow.
Competitive Landscape
Key Players
ABB Limited
Siemens AG
Kongsberg Gruppen
General Dynamics Electric Boat
Corvus energy
Echandia Marine AB
General Dynamics Electric Boat
Anglo Belgian Corporation (Abc) Nv
Schottel Gmbh
Visedo (Danfoss)
Eco Marine Power Co Ltd.
Akasol Ag
Est Floattech
Fjellstrand
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Recent Developments
In September 2019, Corvus Energy received a contract from AIDA Cruises (Germany) to supply a battery package for its cruise vessels. Under this contract, Corvus Energy will supply a 10MWh energy storage system for the AIDAperla ship by 2020.
ABB won three contracts with Orange Marine, Global Mercy and Oceano for installation of their newly developed Azipod Electric Propulsion system in 2021.
Reasons to Acquire
Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
Gain authentic and granular data access for Electric Ships Market so as to understand the trends and the factors involved behind changing market situations
Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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Report Scope
Electric Ships Market is segmented into type, system, mode of operation, ship type, power, range, tonnage, end use and region.
On the basis of Type
Fully electric
hybrid                                                            
On the basis of System
Energy Storage Systems
Power Conversion
Power Generation
Power Distribution
On the basis of Mode of Operation
Manned
Remotely Operated
Autonomous
On the basis of Ship Type
Commercial
Defence
On the basis of Power
<75KW
75-150KW
151-745KW
746-7,560KW
>7,560KW
On the basis of Range
<50Km
50-100Km
101-1000Km
>1,000Km
On the basis of Tonnage
<500DWT
500-5,000DWT
5,001-15,000DWT
>15,000DWT
On the basis of End-User
New Build and Line fit
Retrofit
On the basis of Region
Asia Pacific
North America
Europe
South America
Middle East & Africa
About Us:
Delvens is a strategic advisory and consulting company headquartered in New Delhi, India. The company holds expertise in providing syndicated research reports, customized research reports and consulting services. Delvens qualitative and quantitative data is highly utilized by each level from niche to major markets, serving more than 1K prominent companies by assuring to provide the information on country, regional and global business environment. We have a database for more than 45 industries in more than 115+ major countries globally.
Delvens database assists the clients by providing in-depth information in crucial business decisions. Delvens offers significant facts and figures across various industries namely Healthcare, IT & Telecom, Chemicals & Materials, Semiconductor & Electronics, Energy, Pharmaceutical, Consumer Goods & Services, Food & Beverages. Our company provides an exhaustive and comprehensive understanding of the business environment.
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The Electric Ships Market report answers a number of crucial questions, including:
Which companies dominate the Electric Ships Market?
What current trends will influence the market over the next few years?
 What are the market's opportunities, obstacles, and driving forces?
What predictions for the future can help with strategic decision-making?
What advantages does market research offer businesses?
Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
What is the anticipated growth rate for the market economy globally?
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paullui2002 · 2 years
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Electric Ships Market Size, Share, Trends, Latest Innovations, Drivers, Dynamics And Strategic Analysis, Challenges By 2028
According to the latest research report titled “Electric Ships Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Power, Range and Ship Type,” the market is expected to grow from US$ 3.82 billion in 2021 to US$ 7.76 billion by 2028; it is estimated to grow at a CAGR of 10.3% from 2021 to 2028.
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Several marine industry associations are focusing on reducing the gas emission from the shipping industry. As per a report published by the Norwegian Ministry of Climate and Environment, in April 2018, International Maritime Organization (IMO) adopted a plan to reduce greenhouse gas emissions from international shipping by ~50% compared with the level in 2008 by the end of 2050. Additionally, the IMO strategy aims to improve the energy efficiency of each ship and to reduce the carbon intensity of the whole marine industry by reducing emissions per unit of transport work done by ~40% by 2030, and further toward 70% by 2050, according to a report published by the Norwegian Ministry of Climate and Environment. Further, several governments are focusing on reducing the gas emission from the shipping industry. For instance, according to a report published by the Norwegian Ministry of Climate and Environment, in 2019, the Norway government’s focus is on reducing greenhouse gas emissions from domestic shipping and fishing ships by half by 2030 and promoting the development of zero- and low-emission solutions for all vessel categories. For this, the government had allocated NOK 7 million (US$ 0.77 million) to the Green Shipping Programme in the 2019 budget. Therefore, the increasing regulatory support from government authorities and industry associations for reducing greenhouse gas emissions in the shipping industry supports the growth of electric ships by adopting electric or hybrid propulsion systems.
Key Findings of Study:                                                          
The electric ships market has been segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In North America and Europe, the demand for electric ships increases due to its rising demand for fully electric passenger vessels, tugs, yachts, and cruise vessels. Norway, Finland, the US, and Denmark are replacing conventional passenger ferries with fully electric passenger ferries. Significant developments in autonomous electric vessels that use fuel cells and remotely controlled electric vessels are also driving the market growth.
In APAC, the demand for electric ships increases due to the rising sea trade activities and growing government focus on reducing gas emissions from the shipping industry. This has resulted in ship integrators and owners switching the existing diesel-driven engines with electric or hybrid propulsion systems. Therefore, these factors create a vast opportunity for the APAC electric ships market players to produce more electric ships. According to the UN Merchant Fleet 2020 statistics, ~93% of the global new shipbuilding occurred in China, Japan, and South Korea in 2019. The global shipping and offshore energy equipment industry has shifted unequivocally toward Asia. South Korea, Japan, and China now dominate with ~80% of orders. According to IHS Maritime, 134 liquefied natural gas (LNG) tankers built since 2009—133 were built in Asia, 100 in South Korea, 20 in China, and 13 in Japan. While domination by Asian manufacturers is expected to continue, it is important to recognize that each of Asia’s shipping giants has distinct strengths and challenges. Shipbuilding in Japan is going through a renaissance. Focus on shipbuilding and port development is driving the growth of the electric ships market in the region.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi                   
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research-news · 2 years
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Electric Ships Market Regional Outlook Opportunity Assessment, forecast till 2028
Market Overview:
According to the latest research report titled “Electric Ships Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Power, Range and Ship Type,” the market is expected to grow from US$ 3.82 billion in 2021 to US$ 7.76 billion by 2028; it is estimated to grow at a CAGR of 10.3% from 2021 to 2028.
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Increasing Regulatory Support from Government Authorities and Industry Associations to Favor Market Growth
Several marine industry associations are focusing on reducing the gas emission from the shipping industry. As per a report published by the Norwegian Ministry of Climate and Environment, in April 2018, International Maritime Organization (IMO) adopted a plan to reduce greenhouse gas emissions from international shipping by ~50% compared with the level in 2008 by the end of 2050. Additionally, the IMO strategy aims to improve the energy efficiency of each ship and to reduce the carbon intensity of the whole marine industry by reducing emissions per unit of transport work done by ~40% by 2030, and further toward 70% by 2050, according to a report published by the Norwegian Ministry of Climate and Environment. Further, several governments are focusing on reducing the gas emission from the shipping industry. For instance, according to a report published by the Norwegian Ministry of Climate and Environment, in 2019, the Norway government’s focus is on reducing greenhouse gas emissions from domestic shipping and fishing ships by half by 2030 and promoting the development of zero- and low-emission solutions for all vessel categories. For this, the government had allocated NOK 7 million (US$ 0.77 million) to the Green Shipping Programme in the 2019 budget. Therefore, the increasing regulatory support from government authorities and industry associations for reducing greenhouse gas emissions in the shipping industry supports the growth of electric ships by adopting electric or hybrid propulsion systems.
The Asia Pacific electric ships market has many players accounting for small market shares. A few of the prominent companies in the market in this region are ABB, General Electric, and Wartsila. The major players are spending heavily on research and development of new products and delivering mobile cranes globally. For instance, Vallianz, SeaTech, Shift Clean Energy, and ABS are teaming up to design and build an all-electric harbor tug. Vallianz has cut steel on the first all-electric harbor tug in Asia Pacific at its shipyard in Batam, Indonesia. Based on the E-Volt Electric Tug design by SeaTech, the vessel will be driven by a fully-classed electric battery system provided by Shift. This follows a recent memorandum of understanding between Vallianz and Shift Clean Energy to collaborate on vessels that require electrification solutions.
Key Findings of Study:
The electric ships market has been segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In North America and Europe, the demand for electric ships increases due to its rising demand for fully electric passenger vessels, tugs, yachts, and cruise vessels. Norway, Finland, the US, and Denmark are replacing conventional passenger ferries with fully electric passenger ferries. Significant developments in autonomous electric vessels that use fuel cells and remotely controlled electric vessels are also driving the market growth.
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The Asia Pacific electric ships market has many players accounting for small market shares. A few of the prominent companies in the market in this region are ABB, General Electric, and Wartsila. The major players are spending heavily on research and development of new products and delivering mobile cranes globally. For instance, Vallianz, SeaTech, Shift Clean Energy, and ABS are teaming up to design and build an all-electric harbor tug. Vallianz has cut steel on the first all-electric harbor tug in Asia Pacific at its shipyard in Batam, Indonesia. Based on the E-Volt Electric Tug design by SeaTech, the vessel will be driven by a fully-classed electric battery system provided by Shift. This follows a recent memorandum of understanding between Vallianz and Shift Clean Energy to collaborate on vessels that require electrification solutions.
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Person: Sameer Joshi
E-mail: [email protected]  
Phone: +1-646-491-9876
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Insights on the Electric Ships Market to 2028 | The Insight Partners
The Electric Ships Market is expected to grow from US$ 3.82 billion in 2021 to US$ 7.76 billion by 2028; it is estimated to grow at a CAGR of 10.3% from 2021 to 2028.
Several marine industry associations are focusing on reducing the gas emission from the shipping industry. For instance, according to a report published by the Norwegian Ministry of Climate and Environment, in April 2018, International Maritime Organization (IMO) adopted a plan for reducing greenhouse gas emissions from international shipping by at least 50% by the end of 2050 compared with the level in 2008. Additionally, the IMO strategy includes ambitions to improve the energy efficiency of each ship and to reduce the carbon intensity of the whole marine industry by reducing emissions per unit of transport work done by at least 40% by 2030 and further towards 70% by 2050, according to report published by the Norwegian Ministry of Climate and Environment. Also, in January 2020, according to IMO 2020 regulation, the IMO 2020 rule limits the use of Sulphur in the fuel oil used on board ships operating outside designated emission control areas to 0.50% m/m (mass by mass), a significant reduction from the previous limit of sulfur content by 3.50%. This has also resulted in switching the existing diesel-driven engines with electric or hybrid propulsion systems by the ship integrators and owners.
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Type-Based Market Insights
Based on type, the electric ships market is segmented into battery electric ships, plug-in hybrid electric ships, and hybrid electric ships. The hybrid electric ships segment led the market in 2020. The reliability offered by hybrid electric ships supports its demand owing to the use of supplementary propulsion systems and higher speed, which can reduce the risk of failure and cover greater distances in less time. Besides, hybrid electric vessel propulsion can be propelled in two ways—electrical (via diesel-electric or battery power-driven) or mechanical (direct diesel drove). Furthermore, ship owners or shipping and logistic companies across the globe prefer hybrid electric ships as they enable lower fuel consumption and help reduce operational costs. The use of diesel-electric propulsion at low power and direct diesel-driven propulsion in need of high power that is inland water sailing with different speed conditions enables a reduction in operational cost in the electric ship. This is a smarter way to use available energy and save on fuel costs by using hybrid electric ship propulsion.
Electric Ships Market Insights
Rise in Adoption of Hybrid and Electric Propulsion Systems for Retrofitting Ships
Retrofitting ships is 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 updated with the latest eco-friendly solutions as a cost-effective procedure. Retrofitting is becoming a common practice in the maritime industry. Shipbuilders are moving toward automation, integrating newly built ships, and retrofitting existing ships with hybrid and electric propulsion systems. This system is a convenient choice for retrofitting outdated ships with enormous 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. Further, several European shipbuilders are actively retrofitting their current ship fleet with hybrid and electric propulsion systems. For instance, according to the article published by the Riviera Maritime Media Ltd, in March 2020, the offshore supply vessel (OSV) owners invested in retrofitting diesel-electric/LNG-powered fleets with battery-hybrid propulsion in a move that is paying off for the charterer, owner, and the environmental issues in Norway. These factors have resulted in the adoption of hybrid and electric propulsion systems for retrofitting ships.
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2020, the COVID-19 pandemic adversely affected the growth of the global electric ship market due to the shutdown of manufacturing facilities and trade restrictions. Ship manufacturers had faced short-term operational issues due to supply chain disruption caused by several government initiatives to slow the spread of COVID-19. The shipping industry had become a significant part of several countries’ supply chains; it was significantly affected by the COVID-19 pandemic. The shipping industry depends on production, which was discontinued to prevent people from being affected by SARS-CoV-2, resulting in significant challenges. A South Florida-based cruise ship was affected for the third time, as Florida recorded its highest number of COVID-19 cases. SARS-CoV-2 infected an undisclosed number of passengers and crew of the Carnival Freedom cruise, so the ship was denied entry to Bonaire and Aruba. The growing maritime tourism industry helps in supporting the electric ships market growth. Thus, during 2021 and 2022, the COVID-19 pandemic will positively impact the market growth. This is expected to normalize the electric ships market growth over the forecast period of 2021–2028.
Company Profiles
BAE Systems
Duffy Electric Boat Company
Fjellstrand AS
X Shore
General Dynamic Electric Boat
Hurtigruten
MAN Energy Solutions
PortLiner
Siemens Energy
VARD AS
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
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nita-world · 2 years
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Electric Ships Market Growth Revenue value Trends Manufacturers Growth Opportunities, Demand, Trends, Industry Analysis And Forecasts Report To 2026 With Dominant Countries Data
Electric Ships Market Report by Type (Fully Electric and Hybrid), System (Energy Storage Systems, Power Generation, Power Conversion and Power Distribution Systems), Ship Type (Commercial and Defense), Operation (Manned, Remotely Operated and Autonomous) and Region - Forecast till 2030 By MRFR
Overview
The Europe Electric Ships Market is expected to reach USD 9,307.6 Million by 2030 with a CAGR of 11.05% during the forecast period, 2019 to 2030. There has been significant development of hybrid cruise ships in the last few years to reduce acoustic pollution, emission, and vibrations. In February 2018, Hurtigruten, a Norwegian expedition cruise company, unveiled the world's first hybrid cruise ship. It reduces fuel consumption and CO2 emissions on the ships by 20% by sailing with electrical propulsion.
Competitive Analysis
The Key Players in the Europe Electric Ships Market are BAE Systems plc (UK), Kongsberg Maritime (Norway), Wärtsilä (Finland), Siemens (Germany), ABB (Switzerland), General Electric (US), Leclanché (Switzerland), AKASOL AG (Germany), Norwegian Electric Systems (Norway), and Volvo Penta (Sweden).
Segmental Analysis
The Europe Electric Ships Market has been segmented based on Type, System, Range, Operation, Ship Type, Power, and End-Use.
Based on type, the electric ship's market has been segmented into fully electric and hybrid. The hybrid segment dominated the market with a valuation of USD 1,421.9 million in 2018 and is expected to reach USD 3,966 million by 2030. Ships with hybrid-electric propulsion systems produce less pollution as compared to conventional marine propulsion systems that involve the burning of heavy oil. In this system, the propeller shaft of the ship is connected to large propulsion motor, which can be driven by DC/AC power. The power for the propulsion motor is supplied by a diesel/natural gas generator and prime mover assembly.
Based on ship type, the Europe electric ship market has been classified as commercial and defense. The commercial segment is expected to exhibit a higher CAGR of 11.36% during the forecast period. Factors such as an increase in seaborne trade, rising maritime tourism industry, and implementation of the IMO Sulphur 2020 Regulation, the demand for electric ships for commercial applications is expected to increase during the forecast period. Additionally, the growing development of hydrogen fuel cell power systems for cruise vessels is also likely to drive the growth of the segment.
By end-use, the Europe electric ship market has been divided into newbuild & line fit and retrofit. The newbuild & line-fit segment is expected to register a higher CAGR of 12.05% during the forecast period. The newly build & line fit of electric or hybrid ships includes the design of ships according to its application and integration of electric or hybrid propulsion systems. The demand for newly-built electric or hybrid ships has been increasing in the last few years, but the initial cost of such vessels is very high.
Regional Analysis
The country-wise analysis of the Europe electric ships market covers the UK, Germany, France, Russia, Italy, Norway, Turkey, Sweden, Greece, and the rest of Europe.
Germany led the market with a valuation of USD 354.5 million in 2018, and the market is expected to reach USD 1,460.4 Million by 2030 at a CAGR of 12.52% during the forecast period. Market growth in the country is driven by increasing investments by companies such as Siemens, Kongsberg Maritime, and AKASOL AG.
The UK was the second-largest market with a valuation of USD 301.5 million in 2018. The market in the country is projected to exceed USD 1,116 million by 2030 at 11.52% CAGR.  This can be attributed to the presence of major manufacturers such as BAE Systems plc and Rolls-Royce PLC in the country.
Key Developments
In January 2020, Norwegian Electric Systems signed a contract with Fjord1 ASA, a global transport company to provide battery systems, and electrical and automation packages for the latter’s three ferries.
In December 2019, Volvo Penta provided its marine engines to GS Marine Production AS for its three hybrid ferries. This contract enabled the company to strengthen its customer base.
In December 2017, Wärtsilä signed a Memorandum of Understanding (MOU) with Mitsubishi Heavy Industries Marine Machinery & Equipment Co., Ltd to develop advanced power and propulsion systems for ships.
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Marine Engine Monitoring System Market Demand, Size, Share,Analysis, Key Trends, and Top Manufacturers, 2025
The global Marine Battery Market size is projected to grow USD 374 Million in 2021 to USD 1,897 Million by 2030, at a CAGR of 19.8% from 2021 to 2030. The market is driven by various factors, such as rise in conversion of propulsion system in passenger vessel, Increasing sea borne trade across globe and growing maritime tourism industry.
The Marine Battery Market includes major players such Wartsila (Finland), Akasol AG (Germany), Corvus Energy (Canada), Enchandia AB (Sweden), Saft Total (France), Siemens (Germany), and Leclanché SA (Switzerland). players have spread their business across various countries includes North America, Europe, Asia Pacific, and Rest of the World. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 has affected electric ship production and services globally in 2020.
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Based on the battery type the lithium battery operated vessels are projected to grow at the highest CAGR rate for the Marine Battery Market during the forecast period. With the increasing demand for commercial vessels across regions throughout the industry the demand for battery operated vessels is also increasing. A battery operated vessel helps in giving a more ecofriendly solution to maritime operations along with more efficiency and reliability.
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Commercial vessels are projected to witness the highest CAGR during the forecast period
Based on ship type, the commercial vessels segment is projected to grow at the highest CAGR rate for the Marine Battery Market during the forecast period. Commercial vessels are as varied as the jobs they are required to do. Different type of commercial vessels according to the purpose they serve are passenger vessels, cargo vessels, and others. Further, passenger vessels is segmented into yachts, ferries, cruise and others. Under which the passenger and cargo vessels will be seeing the maximum growth as these are the short ranged vessels which require less power to operate efficiently.
75-150KW are projected to witness the highest CAGR during the forecast period
Based on power, the 75-150KW power is projected to grow at the highest CAGR for the Marine Battery Market during the forecast period. Medium-size passenger ferries are considered under ships having power between 76–150 kW. The need for a reduced, or zero-emission transport system across countries is high. Countries such as Japan, New Zealand, and Australia are also moving toward using fully electric ferries for passenger transport. Norway has incorporated fully electric, and hybrid technology in its ferries.
The European market is projected to contribute the largest share from 2021 to 2030
Europe is projected to be the largest regional share of the Marine Battery Market during the forecast period. The key factor responsible for Europe, leading the Marine Battery Market owing to the rapid growth of the technologically advanced electric ships in the region. In Europe, the rise in manufacturing industries and growing commercial and defence maritime industry is encouraging manufacturers of electric ships to introduce technologically advanced and efficient products across various vessel type. The increasing demand for electric ship and the presence of some of the leading players operating in the market, such as Wartsila (Finland), Akasol AG (Germany), Corvus Energy (Canada), Enchandia AB (Sweden), Saft Total (France), Siemens (Germany), and Leclanché SA (Switzerland). These players are focusing on R&D to increase their product lines and using technologically advanced systems, subsystems, and other components for manufacturing electric ship.
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maximizegn1 · 6 months
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The scope of the report encompasses a thorough examination of the including key market segments, emerging trends, and potential challenges. 
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delvenservices · 10 months
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Autonomous Ships Market Share, Size, Trends & Forecast: 2028
The Autonomous Ships Market research report study discusses about market dynamics like drivers, opportunities, restrictions, and challenges. In addition, the report also describes new and developing patterns and their influence on current and future market dynamics. The XYZ research report provides information about market penetration that offers thorough data on the market offered by the main market players. It also offers analysis and awareness and analysis about different factors during the projected period.
Autonomous Ships Market by Level of Autonomy (Semi-autonomous and Fully-autonomous), Ship Type (Commercial, Passenger, and Défense), Component (Hardware and Software) and Fuel Type (Carbon Neutral Fuels, LNG, Electric, and Heavy Fuel Oil/Marine Engine Fuel) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
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Market Overview
The global autonomous ships market size is estimated to be valued at USD 85.84 billion in 2020, registering a CAGR of 4.8% from 2021 to 2028.
Autonomous ships also known as crewless ships are equipped with the software & hardware without human interference. The components such as sensors, automated navigation, propulsion & auxiliary systems, GPS tracker, and others, present in the ships help to make decision in accordance with the environment. Moreover, the partially automated ships are controlled & monitored through the off-board control centers with the interference of humans. In addition, autonomous ships have their complete operations controlled by the advanced operating systems, which enables it to take decisions and actions by itself.
Demand for smart and autonomous ships, which can reduce human involvement in the operation is the major factor that has supported long-term expansion for Autonomous Ships Market.
Unlike other industries, the shipping industry have also suffered due to the COVID-19 disease. According to estimations from the International Chamber of Shipping (world's principal shipping organization, which represents around 80% of the world's merchant tonnage, through membership by national shipowners’ associations), every month roughly 100,000 seafarers reach the end of their employment contract and need to be repatriated.
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Regional Analysis
Asia-Pacific will drive the growth of the autonomous ships market due to the high number of ship ownership and autonomous driving. Moreover, the demand for these features will increase due to improved safety requirements in the Asia-Pacific.
Competitive Landscape
ABB
GENERAL ELECTRIC
Vigor Industrial LLC.
Honeywell International Inc.
Rolls-Royce plc
Wärtsilä
KONGSBERG
Siemens
Hyundai Heavy Industries Co., Ltd.
Marine Technologies LLC
Praxis Automation Technology B.V.
L3Harris Technologies, Inc.
Northrop Grumman.
Mitsui E&S Holdings Co., Ltd.
DNV GL
Fugro
Valmet
ASELSAN A.Ş.
BAE Systems
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Recent Developments
Kongsberg Maritime signed a contract with China Merchants Jinling Shipyard (Weihai) to provide propulsion and manoeuvring system for two roll-ons, roll-off passenger (RoPax) vessels under construction for Finnlines. The two 230m-long vessels will be deployed in the Baltic Sea by 2023 after they are delivered.
Kongsberg Maritime and Massterly, a Kongsberg Wilhelmsen joint venture, signed contracts with the leading Norwegian grocery distributor ASKO to equip two new vessels with autonomous technology and manage their operations at sea.
Reasons to Acquire
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Report Scope
Autonomous Ships Market is segmented into component, level of autonomy, fuel type, ship type and region.
On the basis of Component
Hardware
Software
On the basis of Level of Autonomy  
Semi-Autonomous
Fully-Autonomous
On the basis of Fuel Type  
Carbon Neutral Fuels
Liquefied natural gas
Electric batteries
Heavy fuel oils (HFO)
On the basis of Ship Type
Commercial ships
Defence ships
Passenger ships
On the basis of Region
Asia Pacific
North America
Europe
South America
Middle East & Africa
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industrygrowth · 3 years
Text
Unmanned Surface Vehicles (USVs) Market Report Analysis and Forecast 2021 to 2030 | Global Key Players, Industry Size & Share, Revenue with Regional Trend Analysis
In a recent published report, Kenneth Research has updated the Unmanned Surface Vehicles (USVs) Market report for for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Unmanned Surface Vehicles (USVs) Market products.
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According to the statistics by the Bureau of Economic Analysis (BEA) of the U.S. Dept. of Commerce, the gross output registered from the data processing, internet publishing and other information services industry grew from USD 162.5 Billions in 2010 to USD 530.4 Billion in 2020.
The Unmanned Surface Vehicles (USV) or Autonomous Surface Vehicles (ASV) are vessels that operates on the water surface without any crew. USV are valuable for oceanographic applications, as they are more useful than the weather buoys, but more cost-effective than the weather ships or equivalent research vessels, and more adaptable than commercial vessels. Global total Capex (capital expenditure) of USVs in 2025 will advance to $1.94 billion. This represents a continuous XX% increase yearly between 2016 and 2025 and a cumulative Capex of $XXX billion during 2017-2025 driven by the substantial adoption of USVs for commercial purpose, defense & security, scientific research, and other applications. Highlighted with 38 tables and 80 figures, this 165-page report “Global Unmanned Surface Vehicles (USVs) Market 2017-2025 by Application, Vehicle Type, Size, Hardware Component, Propulsion System and Region” is based on a comprehensive research of the USVs market by analyzing the entire global market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The study provides historical market data for 2014 and 2015, revenue estimates for 2016, and forecasts from 2017 till 2025. In-depth qualitative analyses include identification and investigation of the following aspects: • Market Structure • Growth Drivers • Restraints and Challenges • Emerging Product Trends & Market Opportunities • Porter’s Fiver Forces The global market is forecast in optimistic, conservative and balanced view. The balanced (most likely) projection is used to quantify global USVs market in every aspect of the classification from perspectives of application, vehicle type, vehicle size, hardware component, propulsion system and region. Based on application, the global USVs market is segmented into the following sub-markets with annual capex included for 2014-2025 (historical and forecast) for each section. • Defense & Security (further categorized into Intelligence, Surveillance and Reconnaissance (ISR), Mine Counter Measures (MCM), Maritime Security, Military Training and Tests, Anti-Submarine Warfare (ASW), Drug Interdiction & Unlawful Immigration, Host Platform (Launch and Recovery), Communication Assurance, Counter-Piracy, and Others) • Commercial (further categorized into Oil & Gas Exploration, Ocean Data Collection and Others) • Scientific Research (further categorized into Seabed Mapping, Environmental Monitoring and Compliance, Oceanographic & Hydrographic Studies, Others) • Others
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Based on vehicle type, the global market is divided into the following sub-markets with annual capex included for 2014-2025 (historical and forecast) for each section. • Remotely Operated USVs • Autonomous USVs Based on vehicle size, the global market is analyzed on the following segments with annual capex in 2014-2025 provided for each segment. • Small USVs • Medium USVs • Large USVs • Extra-large USVs Based on hardware component, the global market is divided and analyzed on the following segments in terms of capex for 2014-2025. • Imaging System • Sensors and Automation Systems • Steering and Positioning • Navigation System • Energy and Propulsion • Others Based on propulsion system, the global market is segmented into the following sections and analyzed in terms of annual capex for 2014-2025. • Mechanical Systems • Hybrid Systems • Electric Systems • Others Geographically, the following regions together with the listed national markets are fully investigated: • APAC (China, Japan, Australia, India, and Rest of APAC) • Europe (Germany, UK, France, Italy, Spain, Rest of Europe) • North America (U.S. and Canada) • Latin America (Argentina, Brazil, Mexico, Rest of Latin America) • Africa • Middle East (Saudi Arabia, UAE) For each of the aforementioned regions and countries, detailed analysis and data for annual capex are available for 2014-2025. Breakdown of all regional markets and some national markets by application and vehicle size over the forecast years is included. The report also covers current competitive scenario and the predicted manufacture trend; and profiles global USV vendors including market leaders and important emerging players. Specifically, potential risks associated with investing in global USVs market are assayed quantitatively and qualitatively through GMD’s Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions. Key Players: 5G International Inc. ASV Unmanned Marine Systems Atlas Elektronik GmbH ECA Group Elbit Systems Ltd. Israel Aerospace Industries Ltd. Liquid Robotics Ocean Aero, Inc. Ocius Technology Ltd. Rafael Advanced Defense Systems Ltd. SeaRobotics Corporation Seebyte Ltd. Teledyne Technologies Inc. Textron Inc.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys  & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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paullui2002 · 2 years
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Electric Ships Market Trends and Future Growth Opportunities Analysis Report
According to the latest research report titled “Electric Ships Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Power, Range and Ship Type,” the market is expected to grow from US$ 3.82 billion in 2021 to US$ 7.76 billion by 2028; it is estimated to grow at a CAGR of 10.3% from 2021 to 2028.
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Several marine industry associations are focusing on reducing the gas emission from the shipping industry. As per a report published by the Norwegian Ministry of Climate and Environment, in April 2018, International Maritime Organization (IMO) adopted a plan to reduce greenhouse gas emissions from international shipping by ~50% compared with the level in 2008 by the end of 2050. Additionally, the IMO strategy aims to improve the energy efficiency of each ship and to reduce the carbon intensity of the whole marine industry by reducing emissions per unit of transport work done by ~40% by 2030, and further toward 70% by 2050, according to a report published by the Norwegian Ministry of Climate and Environment. Further, several governments are focusing on reducing the gas emission from the shipping industry. For instance, according to a report published by the Norwegian Ministry of Climate and Environment, in 2019, the Norway government’s focus is on reducing greenhouse gas emissions from domestic shipping and fishing ships by half by 2030 and promoting the development of zero- and low-emission solutions for all vessel categories. For this, the government had allocated NOK 7 million (US$ 0.77 million) to the Green Shipping Programme in the 2019 budget. Therefore, the increasing regulatory support from government authorities and industry associations for reducing greenhouse gas emissions in the shipping industry supports the growth of electric ships by adopting electric or hybrid propulsion systems.
Key Findings of Study:                                                          
The electric ships market has been segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In North America and Europe, the demand for electric ships increases due to its rising demand for fully electric passenger vessels, tugs, yachts, and cruise vessels. Norway, Finland, the US, and Denmark are replacing conventional passenger ferries with fully electric passenger ferries. Significant developments in autonomous electric vessels that use fuel cells and remotely controlled electric vessels are also driving the market growth.
In APAC, the demand for electric ships increases due to the rising sea trade activities and growing government focus on reducing gas emissions from the shipping industry. This has resulted in ship integrators and owners switching the existing diesel-driven engines with electric or hybrid propulsion systems. Therefore, these factors create a vast opportunity for the APAC electric ships market players to produce more electric ships. According to the UN Merchant Fleet 2020 statistics, ~93% of the global new shipbuilding occurred in China, Japan, and South Korea in 2019. The global shipping and offshore energy equipment industry has shifted unequivocally toward Asia. South Korea, Japan, and China now dominate with ~80% of orders. According to IHS Maritime, 134 liquefied natural gas (LNG) tankers built since 2009—133 were built in Asia, 100 in South Korea, 20 in China, and 13 in Japan. While domination by Asian manufacturers is expected to continue, it is important to recognize that each of Asia’s shipping giants has distinct strengths and challenges. Shipbuilding in Japan is going through a renaissance. Focus on shipbuilding and port development is driving the growth of the electric ships market in the region.
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sunil7773 · 3 years
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Global Vessel Energy Storage System Market
Global Vessel Energy Storage System Market is expected to reach US$ XX Mn by 2027 from US$ XX Mn in 2019 at a CAGR of 14.4% during the forecast period. The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Global Vessel Energy Storage System Market Dynamics:
The energy storage system is an important part of environmental-friendly, modern, and energy-efficient ship propulsion systems. The vessel energy storage systems help to lower operation costs by using and storing regenerated energy. The benefits provided by the vessel energy storage systems such as load leveling, peak shaving, less cost for fuel, and zero-emission are the major factors positively impacted on the marine industry. The safety level is also increased thanks to the reverse of backup power that keeps the system running in the event of failure. This storage system helps to ship companies to maintain their ecological profile whereas growing the durability of ships. However, high capital spending required for the installation of battery energy storage systems is a major restraint factor in the global market for vessel energy storage systems.
Global Vessel Energy Storage System Market Segment Analysis:
The report covers the segments in the vessel energy storage system market such as type and application. By type, the hybrid energy storage system segment dominated the market, with a market size of US$ XX Mn. in 2019 and to reach US$ XX Mn. by 2027, with a CAGR of XX.23%. This growth is attributed to an easy upgrade option and increasing adoption of cost-effective solutions. Based on application, the commercial vessels segment is expected to grow at the highest CAGR of XX% thanks to increased investment in the commercial industry and growing trades between the countries such as China, Japan, and the U.K.
Global Vessel Energy Storage System Market Regional Insights:
North America accounted for the largest market share in 2019, with a market value of US$ XX.68 Mn because of growth in international trade and to meet the environmental standard in the region. The U.S. is projected to be a major consumer of vessel energy storage systems in North America thanks to rising offshore exploration activities. The overall market revenues of the U.S. vessel energy storage system have enhanced at a substantial CAGR of XX.13 % during the forecast period, with revenues being registered at US$ XX Mn. in 2019. The government in the U.S. is actively investing in renewable energy plants to achieve a future with maintainable energy. As per the International Energy Agency (IEA), the U.S government has imposed a multi-year allowance on tax credits for renewable energy plants, like thermal energy storage stations and CSP (Concentrating Solar Power).
Global Vessel Energy Storage System Market Competitive Landscape: The research study includes the profiles of leading companies operating in the global vessel energy storage system market. Such as, Corvus Energy Company has a fully automated lithium-ion battery factory in Norway. The company has provided energy storage systems for various vessels and projects around the globe, with the world’s first electric car and passenger ferry. Global Vessel Energy Storage System Market Key Developments: The reports also cover key developments in the vessel energy storage system market as organic and inorganic growth strategies. Various players are focusing on organic growth strategies like product launches, product approvals, and others. For example, in 2018, Rolls-Royce Plc. had its footsteps in the market for vessel energy storage systems with the introduction of a new SAVe energy storage system. This system helps to reduce carbon footprints and support the diesel hybrid vessel. The objective of the report is to present a comprehensive analysis of the Global Vessel Energy Storage System Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Vessel Energy Storage System Market dynamics, structure by analyzing the market segments and projects the Global Vessel Energy Storage System Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Vessel Energy Storage System Market make the report investor’s guide.
Global Vessel Energy Storage System Market Scope:
Global Vessel Energy Storage System Market, By Type
• Lithium • Hybrid Energy Storage System
Global Vessel Energy Storage System Market, By Application
• Commercial Vessels • Transport Vessels • Military Vessels • Others
Global Vessel Energy Storage System Market, By Region
• Asia Pacific • North America • Europe • Latin America • Middle East Africa
Global Vessel Energy Storage System Market Key Players:
• ABB • Plan B Energy Storage • Wartsila • Rolls-Royce Plc. • NORIS Group • General Electric • EST-Floattech • Corvus Energy • Aspin Kemp and Associated Inc. • MG Energy Systems • PATHION • Leclanche • Siemens • Magnus Marine • Hyundai Electric • Kokam • Maxwell Technologies, Inc.
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waaaiz · 3 years
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Fixed-wing VTOL UAV Market Research Report
Global Fixed-wing VTOL UAV Market
The GMI Research forecasts that the Fixed-wing VTOL UAV Market is witnessing an upsurge in demand over the forecast period. This is mainly due to their increasing adoption in various commercial applications, including monitoring, surveying & mapping, agriculture, aerial remote sensing, and product delivery.
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Introduction of the Fixed-wing VTOL UAV Market:
A fixed-wing VTOL (Vertical Take-off and Landing) UAV (Unmanned Aerial Vehicle) refers to a fixed-wing drone that can take off, fly, land vertically, and hover in place. These drones have transformed the way experts map the world. The vehicle is specially designed for better aerodynamic performance and low take-off weight.
Key Players of the Global Fixed-wing VTOL UAV Market:
·        Arcturus UAV
·        AVY
·        IdeaForge
·        ALTI UAS (PTY) LTD
·        Carbonix
·        ULC Robotics
·        Autel Robotics
·        Zerotech
·        Ukrspecsystems
Fixed-wing VTOL UAV Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The global fixed-wing VTOL UAV market is forecasted to witness robust growth in the near future. Growth in the market is primarily driven by their augmenting demand in the agricultural sector and various defense applications led by their enormous features, including high-speed traveling and runway-less platforms. In addition, these vehicles inculcate the properties of both fixed-wing and rotorcraft aircraft. They remove the requirement for a long way infrastructure without harming constancy and speed as these aircraft can land and take-off vertically, further transiting into a horizontal flight. Also, the surging endorsement of these products in various commercial applications which include, distant aerial sensing, supervising, surveying & mapping, product delivery and agriculture is another major factor stimulating the market size. Furthermore, many countries throughout the world have substitutes their manned forces with VTOL UAVs. Furthermore, the growing implication of fixed-wing VTOL at marine borders in modernized patrolling is raising the market growth. On the other hand, the inadequacy of skilled professionals to operate these VTOLs and the absence of appropriate traffic management for UAVs might hinder the fixed-wing VTOL UAV market share.
Fixed-wing VTOL UAV Market Segmentation:
Segmentation by Vertical
·        Military
o   Intelligence, Surveillance, and Reconnaissance (ISR)
o   Combat Operations
o   Battle Damage Management
·        Government & Law Enforcement
o   Border Management
o   Traffic Monitoring
o   Firefighting & Disaster Management
o   Search & Rescue
o   Police Operations & Investigation
o   Maritime Security
·        Commercial
o   Remote Sensing
o   Inspection & Monitoring
o   Product Delivery
o   Surveying & Mapping
o   Aerial Imaging
o   Agriculture
o   Others
Segmentation by Range
·        Visual Line of Sight Fixed-Wing VTOL UAVs
·        Extended Visual Line of Sight UAVs
·        Beyond Line of Sight Fixed-Wing VTOL UAVs
Segmentation by MTOW
·        <25 Kilograms
·        25-100 Kilograms
·        >100 Kilograms
Segmentation by Endurance
·        <5 Hours
·        5-10 Hours
·        >10 Hours
Segmentation by Mode of Operation
·        Remotely Piloted
·        Optionally Piloted
·        Fully Autonomous
Segmentation by Propulsion Type
·        Electric
·        Hybrid
·        Gasoline
Segmentation by Region:
·        North America
o   United States of America
o   Canada
 ·        Asia Pacific
o   China
o   Japan
o   India
o   Rest of APAC
·        Europe
o   United Kingdom
o   Germany
o   France
o   Spain
o   Rest of Europe
·        RoW
o   Brazil
o   South Africa
o   Saudi Arabia
o   UAE
o   Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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sandlerresearch · 3 years
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Marine Battery Market by Battery Type (Lithium, Fuel Cell, Lead-acid), Propulsion Type (Fully Electric, Hybrid, Conventional), Application, Sales Channel, Ship Range, Nominal Capacity, Battery Design, Battery Function and Region - Global Forecast to 2025 published on
https://www.sandlerresearch.org/marine-battery-market-by-battery-type-lithium-fuel-cell-lead-acid-propulsion-type-fully-electric-hybrid-conventional-application-sales-channel-ship-range-nominal-capacity-battery-design-2.html
Marine Battery Market by Battery Type (Lithium, Fuel Cell, Lead-acid), Propulsion Type (Fully Electric, Hybrid, Conventional), Application, Sales Channel, Ship Range, Nominal Capacity, Battery Design, Battery Function and Region - Global Forecast to 2025
Increase in seaborne trade across the globe and development of lithium batteries are driving the market growth
The marine battery market is projected to grow from USD 250 million in 2020 to USD 812 million by 2025, at a CAGR of 26.5% between 2020 and 2025 period. The increase in seaborne trade across the globe and the development of lithium batteries are anticipated to drive the growth of the marine battery market. However, the limited range and capacity of fully electric ships are limiting the overall growth of the market.
Based on sales channel, the aftermarket segment is anticipated to grow at a higher CAGR during the forecast period
Based on sales channel, the aftermarket segment is anticipated to grow at a higher CAGR than the OEM segment during the forecast period. Shipowners are updating or retrofitting the equipment installed on their existing vessels to increase efficiency and durability. Ships can be retrofitted with batteries and electric motors to reduce the load demand on engines for propulsion. A growing number of offshore vessel owners/operators are upgrading their diesel-electric propulsion systems to hybrid configurations to provide greater operational flexibility and minimize fuel consumption across their fleets.
Based on propulsion type, the fully electric segment is projected to register the highest CAGR during the forecast period
Based on propulsion type, the fully electric segment is projected to witness the highest CAGR during the forecast period. Fully electric-driven ships have a positive effect on the environment as the inclusion of high energy storage in batteries and optimized power control can reduce fuel consumption, maintenance, and emissions. The growth of the fully electric segment can be attributed to the increasing demand for fully electric small and medium passenger and cargo ships. Several manufacturers are jointly investing in the manufacturing of ships adhering to the IMO 2020 rule.
Europe is estimated to lead the marine battery market in 2020
The growth of the shipbuilding industry in Europe is one of the most significant factors contributing to the demand for ships with hybrid propulsion in the region. Increasing investments in the electrification of ships and the restructuring efforts undertaken by ship manufacturing companies are additional factors driving the growth of the marine battery market in Europe.
The break-up of profiles of primary participants in the marine battery market:
By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40%
By Region: North America – 45%, Europe – 20%, Asia Pacific – 30%, Rest of the World – 5%
Key players in the marine battery market are Corvus Energy (Canada), Akasol AG (Germany), EST-Floattech (Netherlands), Siemens (Germany), Spear Power Systems (US), Echandia Marine (Sweden), Sterling PBES Energy Solutions (Canada), Furukawa Battery Solutions (Japan), Lithium Werks (Netherlands), Exide Technologies (US), Craftsman Marine (Netherlands), PowerTech Systems (France), Kokam Co. Ltd. (South Korea), Toshiba Corporation (Japan), XALT Energy (US), EverExceed Industrial Co. Ltd. (China), U.S. Battery (US), Lifeline Batteries (US), Saft (France), Forsee Power (France), and Leclanché (Switzerland).
Research Coverage:
The report covers the marine battery market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as battery type, propulsion type, sales channel, application, nominal capacity, ship range, ship power, battery function, battery design, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Reasons to buy this report:
This report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall marine battery market and its sub segments. The report covers the entire ecosystem of the maritime industry and will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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Lithium battery segment is projected to witness the highest CAGR during the forecast period
The global Marine Battery Market size is projected to grow USD 374 Million in 2021 to USD 1,897 Million by 2030, at a CAGR of 19.8% from 2021 to 2030The market is driven by various factors, such as rise in conversion of propulsion system in passenger vessel, Increasing sea borne trade across globe and growing maritime tourism industry.
The Marine Battery Market includes major players such Wartsila (Finland), Akasol AG (Germany), Corvus Energy (Canada), Enchandia AB (Sweden), Saft Total (France), Siemens (Germany), and Leclanché SA (Switzerland). players have spread their business across various countries includes North America, Europe, Asia Pacific, and Rest of the World. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 has affected electric ship production and services globally in 2020.
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Based on the battery type the lithium battery operated vessels are projected to grow at the highest CAGR rate for the Marine Battery Market during the forecast period. With the increasing demand for commercial vessels across regions throughout the industry the demand for battery operated vessels is also increasing. A battery operated vessel helps in giving a more ecofriendly solution to maritime operations along with more efficiency and reliability.
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Commercial vessels are projected to witness the highest CAGR during the forecast period
Based on ship type, the commercial vessels segment is projected to grow at the highest CAGR rate for the Marine Battery Market during the forecast period. Commercial vessels are as varied as the jobs they are required to do. Different type of commercial vessels according to the purpose they serve are passenger vessels, cargo vessels, and others. Further, passenger vessels is segmented into yachts, ferries, cruise and others. Under which the passenger and cargo vessels will be seeing the maximum growth as these are the short ranged vessels which require less power to operate efficiently.
75-150KW are projected to witness the highest CAGR during the forecast period
Based on power, the 75-150KW power is projected to grow at the highest CAGR for the Marine Battery Market during the forecast period. Medium-size passenger ferries are considered under ships having power between 76–150 kW. The need for a reduced, or zero-emission transport system across countries is high. Countries such as Japan, New Zealand, and Australia are also moving toward using fully electric ferries for passenger transport. Norway has incorporated fully electric, and hybrid technology in its ferries.
The European market is projected to contribute the largest share from 2021 to 2030
Europe is projected to be the largest regional share of the Marine Battery Market during the forecast period. The key factor responsible for Europe, leading the Marine Battery Market owing to the rapid growth of the technologically advanced electric ships in the region. In Europe, the rise in manufacturing industries and growing commercial and defence maritime industry is encouraging manufacturers of electric ships to introduce technologically advanced and efficient products across various vessel type. The increasing demand for electric ship and the presence of some of the leading players operating in the market, such as Wartsila (Finland), Akasol AG (Germany), Corvus Energy (Canada), Enchandia AB (Sweden), Saft Total (France), Siemens (Germany), and Leclanché SA (Switzerland). These players are focusing on R&D to increase their product lines and using technologically advanced systems, subsystems, and other components for manufacturing electric ship.
Corvus Energy (Canada) is another major organization when it comes to vessels and its electrical battery and solution. The company is a very well known energy storage system solution provider in the Europe and North American region. It majorly provides electrical solutions and services specifically for commercial vessels. They have a very strong R&D due to which they are able to deliver new products along with innovations. The company has also been working with ABB, Corvus Energy announced that it has been selected by ABB Marine & Ports to supply the energy storage system for the all-electric tug eWolf by Crowley Maritime Corporation. The vessel will be installed with 6.2 MWh of Corvus Orca Energy battery, which will become an essential part of the complete integrated electrical propulsion system delivered by ABB.
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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441
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