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Dual-purpose batteries segment to register the highest CAGR during the forecast period
Northbrook, IL (SBWIRE) 12/18/2020 The marine battery market is estimated to be USD 250 million in 2020 and is projected to reach USD 812 million by 2025, at a CAGR of 48.1% from 2020 to 2025. The implementation of the sulfur 2020 rule and growing maritime tourism industry are among the major factors driving the marine battery market. Fully electric segment to register the highest CAGR during the forecast period By propulsion type, the fully electric segment is anticipated 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 ....
Electric Ships Market Is Projected to Grow at the Highest CAGR from 2019 to 2025 Based on the mode of operation, the manned segment is expected to lead the electric ships market from 2019 to 2030. This press release was orginally distributed by SBWire Northbrook, IL (SBWIRE) 12/13/2020 The global electric ships market size is projected to grow from USD 5.2 billion in 2019 to USD 15.6 billion by 2030, at a CAGR of 13.2% from 2025 to 2030. (Two forecast periods, i.e., 2019 to 2025 and 2025 to 2030 are considered in this market report, as the adoption of electric propulsion systems is estimated to grow at a higher rate post-2025). Some of the factors that are expected to fuel the growth of the electric ships are the International Maritime Organization s ruling on reducing sulfur emissions, effective from 1st January 2020, and wide adoption of fully electric passenger vessels. ....
Electric Ships Market Is Projected to Grow at the Highest CAGR from 2019 to 2025 Based on the mode of operation, the manned segment is expected to lead the electric ships market from 2019 to 2030.
Northbrook, IL (SBWIRE) 12/13/2020 The global electric ships market size is projected to grow from USD 5.2 billion in 2019 to USD 15.6 billion by 2030, at a CAGR of 13.2% from 2025 to 2030. (Two forecast periods, i.e., 2019 to 2025 and 2025 to 2030 are considered in this market report, as the adoption of electric propulsion systems is estimated to grow at a higher rate post-2025). Some of the factors that are expected to fuel the growth of the electric ships are the International Maritime Organization s ruling on reducing sulfur emissions, effective from 1st January 2020, and wide adoption of fully electric passenger vessels. ....
Eco Marine Power (Japan) How Did Our Analysts Develop This Report? Our highly skilled analysts have conducted thorough secondary research to gather data on the market. Various sources, such as Global Firepower, United Nations Conference on Trade and Development (UNCTAD), SEC filings, International Maritime Organization (IMO), investor presentations, BusinessWeek, and certified publications were referred to for collecting and identifying information about the demand for electric ships in the market globally.
Implementation of Various Regulations to Surge Demand The International Maritime Organization deployed the global Sulphur cap in January 2020. Under this rule, ships would require low Sulphur fuels to operate outside the emission control areas (ECAs). As compared to the previous limit of 3.5% or less, ships should use fuels with Sulphur content of 0.5% or less this year. Also, the uncertainties regarding the availability of compliant fuels would also acce ....