Saarthi GreenTech, an Indo-Australian clean-tech company, has proudly announced the grand inauguration of its state-of-the-art factory inChakan, Pune. In
The global Electric Ships Market was USD 5.50 billion in 2019. The global market size is expected to gain momentum by reaching USD 10.82 billion by 2027,
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 accelerate the electri