According to a study by the International Maritime Organization, the maritime industry generates approximately 940 million tons of CO2 per year, contributing to 2.5-3% of global greenhouse gas emissions.
Governments globally are enforcing stricter regulations for industries that have a higher carbon footprint. In the last few decades, the global maritime industry has started focusing on making a conscious shift to a more sustainable transportation system.
Key players in the maritime industry are exploring alternatives to fossil fuels to embrace electric cargo ships or hybrid electric ships to shift to greener transportation. Manufacturers are integrating electric drive propulsion for ships powered by lithium-ion batteries to maneuver the vessel.
According to a report by Extrapolate, the global electric ships market size is projected to grow to USD14.31 billion by 2030, exhibiting a CAGR (compound annual growth rate) of 11.2% between 2023 - 2030.
Top players in the maritime industry are significantly investing in electric powered ships to adapt to sustainable transport. This blog explores the list of the top 10 electric ship manufacturing companies globally in 2024.
Top 10 Electric Ships Vendors in 2024
Following is the list of best vendors that manufacture electric powered ships or provide battery systems to power hybrid electric ships:
1. Kongsberg
Revenue: USD3.6 Billion
Kongsberg Gruppen, also known as Kongsberg Maritime, is a key player in the electric ships manufacturing sector. It provides a range of innovative solutions for a variety of vessel types. Hybrid and electric propulsion systems in ships, such as Azipull Thrusters and Permanent Magnet (PM) motors, are a few of the key products and solutions offered by Kongsberg. The company also manufactures energy storage systems that utilize electricity efficiently.
Kongsberg, in strategic collaboration with Yara International, has built the world’s first fully electric and autonomous container ship known as Yara Birkeland. The company has developed SDO-SuRS (Special and Diving Operations - Submarine Rescue Ship) for the Italian Navy. It has supplied hybrid propulsion systems for multiple ferry projects.
Kongsberg has built advanced integrated maritime solutions to ensure seamless operations.
2. Corvus Energy
Revenue: USD18.7 Million
Corvus Energy offers high-capacity battery systems for electric and hybrid ships, with a strong emphasis on sustainability and efficiency. AIDAperla cruise ships and multiple hybrid ferries operated by Stena Line are a few of the flagship projects of Corvus Energy for which it supplies battery systems. It offers battery systems like Orca Energy and Dolphin Energy storage solutions, which are designed for efficient performance, safety, and longevity.
Corvus Energy heavily invests in integrating technologies that significantly reduce greenhouse gas emissions and fuel consumption. The company helps the maritime industry ensure a seamless transition to greener ship operations. The batteries offered by Corvus Energy are widely used in various vessels, including passenger ferries and offshore support ships.
3. Echandia Marine AB
Revenue: USD7 Million
Echandia Marine AB has expertise in developing and supplying advanced battery systems for electric and hybrid vessels. The company particularly focuses on lithium-ion battery technology. It offers robust energy storage solutions customized for maritime applications, ensuring high efficiency and safety.
Echandia has formed a strategic collaboration with Damen Shipyards on multiple electric ship projects. It also has supplied its battery systems for the Movitz. The company designs its products to minimize emissions and operational costs to ensure greener maritime transport. The solutions designed by Echandia are integral to accomplishing sustainable, zero-emission operations for ferries, workboats, and other commercial vessels.
4. General Dynamics Electric Boat
Revenue: USD3.7 Billion
General Dynamics Electric Boat, a subsidiary of General Dynamics Corporation, is a pioneer in the maritime industry. It primarily focuses on designing and developing submarines for the U.S. Navy, including nuclear-powered and advanced electric propulsion submarines. The electric ships manufactured by the company are equipped with integrated electric drive systems that improve stealth, efficiency, and operational capability.
Columbia-class ballistic missile submarines and the Virginia-class attack submarines are a few of the notable vessels manufactured by General Dynamics Electric Boat. These submarines leverage advanced electric propulsion technologies to decrease acoustic signatures and enhance maneuverability. The innovative systems supplied by General Dynamics Electric Boat significantly help strengthen the strategic capabilities of the U.S. Navy ships by ensuring reduced detection risk and improved performance in various maritime operations.
5. Wartsila
Revenue: USD6.6 Billion
Wärtsilä is at the forefront of the maritime ship manufacturing sector. It supplies electric and hybrid propulsion systems for multiple vessel types, focusing on sustainability and efficiency. The innovative solutions manufactured by Wartsila have advanced battery systems, energy management, and integrated electric drive propulsion for ships.
Wartsila has collaborated with hybrid ferries offered by FinFerries and Norwegian ferry operator Norled for various projects. The HYTug project has hybrid tugboats that allow for significantly reduced emissions and substantial fuel savings. The company also offers energy storage solutions like the HY hybrid power module, which helps improve vessel performance and environmental compliance. It manufactures systems that allow electric ship operators to optimize fuel usage, minimize emissions, and ensure reliable maritime operations.
6. Anglo Belgian Corporation NV
Revenue: USD 59.4 Million
Anglo Belgian Corporation NV (ABC) is a well-established player in the production of hybrid and electric drive propulsion for ships and other vessels. The hybrid propulsion systems manufactured by ABC integrate traditional engines with electric motors and energy storage systems to improve fuel efficiency and decrease emissions.
ABC has provided propulsion solutions for various hybrid ferries and workboats, enhancing their operational efficiency and environmental footprint. The technologies offered by the company ensure dependable and efficient power delivery, contributing significantly to sustainable maritime transport.
7. Eco Marine Power
Revenue: USD14.5 Million
Eco Marine Power has expertise in developing innovative electric and hybrid marine propulsion solutions. The company focuses on integrating renewable energy sources in maritime transport. The Aquarius Eco Ship is a flagship project of Eco Marine Power, which has solar panels, wind power, and energy storage systems integrated to have a zero-emission vessel.
It offers Energy Sail, a rigid sail that is powered by wind and solar energy, suitable for a variety of vessel types. The company manufactures products that are designed to reduce fuel consumption and emissions significantly while optimizing operational efficiency and sustainability Eco Marine Power focuses on leveraging renewable energy and advanced propulsion systems for electric ships to ensure sustainable operations.
8. Akasol AG
Revenue: USD66 Million
Akasol AG is a leader in the manufacturing of high-performance battery systems for hybrid and electric ships. It offers advanced battery technologies that find use in multiple maritime applications, including ferries, offshore vessels, and cargo ships.
AKA System is a battery system manufactured by Akasol and is popular for its high energy density, safety, and long lifecycle. It is an ideal solution for demanding marine environments. The company has offered battery solutions for hybrid ferries operated by companies like Scandlines and Damen Shipyards.
9. Norwegian Electric Systems
Revenue: USD7.4 Million
Norwegian Electric Systems (NES) provides electric and hybrid propulsion systems for electric ships. It offers sustainable solutions to reduce emissions and operational costs in the maritime sector. The company invests heavily in integrating cutting-edge technologies, such as advanced energy storage, power distribution, and control systems, to enable vessels to operate on cleaner energy sources like batteries or hybrid configurations.
NES has innovative designs that cater to a variety of ship types, including ferries, offshore supply vessels, and even large ocean-going ships, improving efficiency and environmental performance. The systems manufactured by NES are designed to enhance power management and vessel maneuverability and comply with stringent environmental regulations. The company is committed to advancing maritime electrification to accomplish the goal of sustainable shipping solutions globally.
10. Leclanche SA
Revenue: USD22 Million
Leclanche SA produces cutting-edge battery systems for electric ships, focusing on high-capacity lithium-ion solutions. The company has supplied its battery systems for Stena Lines hybrid ferries and German cruise line AIDA Cruises AIDAperla. It manufactures battery systems that significantly minimize emissions and optimize energy efficiency, allowing vessels to operate with lower impact on the environment. The marine battery solutions offered by Leclanche are integral to hybrid and fully electric propulsion systems. The company has made significant contributions to the shift toward sustainable maritime transport.
Wrapping Up Top 10 Electric Ships Companies
With surging environmental consciousness, industries are adopting sustainable operations to reduce the impact on the environment. To that end, the maritime sector is adopting electric cargo ships and passenger ferries to be more eco-friendly. These top 10 electric ship manufacturers are focusing on meeting the increasing demand for hybrid or fully electric vessels or electric battery systems for yachts, cruise ships, ferries, container ships, and cargo ships.
