Electric Boat and Ship Market Share

Market Share of Electric Boat and Ship Industry

The electric boats and ships market is moderately consolidated due to the presence of several major and local players in the market. The market has also seen the entry of some startups that manufacture leisure electric boats in recent years, especially in Europe. Some of the key players in the market are ABB Limited, Siemens AG, Kongsberg Gruppen, General Dynamics Electric Boat, Corvus Energy, and many more. Several key market players are entering collaborations and engaging in mergers and acquisitions with other electric ship companies to strengthen their positions in the market. Furthermore, the market participants focus on improving battery technology to attain a competitive edge over other players. For instance:

• In October 2022, Enevate a global battery innovation company, and boat propulsion company Sealence announced a collaboration to develop high-performance battery cells for marine applications. 
• In August 2022, Swedish luxury electric vehicle manufacturer Polestar, a subsidiary of Volvo Cars Ltd., signed a contract with the Swedish electric boat manufacturer Candela to provide battery and charging systems in a multi year deal. 
• In March 2022, DeepSpeed launched a new new high power liquid cooled electric boat battery with energy storage capacity of 83 kiloWatt hours and the 400V electric boat battery. The new battery is developed by eDriveLab, the e-mobility spinoff from University of Parma in Italy which is acquired by DeepSpeed. 

Electric Boat & Ship Market Leaders

1. Siemens SE

2. Kongsberg Gruppen

3. ABB Marine and Port Solutions

4. Corvus Energy

5. General Dynamics Electric Boat

*Disclaimer: Major Players sorted in no particular order