According to the new market research report “Electrical System in Ships- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global Electrical System in Ships market size is projected to reach USD 16.28 billion by 2030, at a CAGR of 9.3% during the forecast period.
- Global Electrical System in Ships MarketSize(US$ Million), 2019-2030
Source: QYResearch, "Electrical System in Ships- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
- Global Electrical System in Ships Top15Players Ranking and Market Share (Ranking is based on the revenue of 2023, continually updated)
Source: QYResearch, "Electrical System in Ships- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
According to QYResearch Top Players Research Center, the global key manufacturers of Electrical System in Ships include Wartsila, ABB, Siemens, GE Vernova, Rolls-Royce, Leonardo DRS, Fincantieri Group (VARD), Daihatsu Diesel Mfg, Terasaki Electric, HDKSOE, etc. In 2023, the global top 10 players had a share approximately 65.0% in terms of revenue.
Market Drivers:
D1: With the development of the global economy, the shipping industry is in strong demand. New Trade Routes: Melting Arctic ice has opened up shorter trade routes, reducing transit times and costs.
D2: Technology has to improve. The shipping industry has come a long way as far as R & D for reducing costs of propulsion without increasing marine pollution is concerned. The conventional propulsion system of the ship is efficient but requires high operating costs and increases the marine pollution. Among all the prospective alternate power sources, electrical propulsion system is one of the best tried out alternative in today’s time.
D3: Digitalization and Automation: Technologies like AI, data analytics, and autonomous vessels are transforming shipping operations.
About Analyst
Chirs Ma - Main Analyst of this Article
Email: maciqiang@qyresearch.com
Mr. Ma has 9 years of industry research experience, focusing on mechanical equipment, medical beauty and health, semiconductor equipment and other fields. Some of his in-depth research topics include semiconductor etching equipment, hyaluronic acid-based skin fillers, industrial hoses, slip rings, EMS and ODM, etc.
About QYResearch
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