The powerships market share is expected to increase by 7.38 GW from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 23%.
This powerships market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentations by type (Oil-fired and Gas-fired) and geography (MEA and ROW). The powerships market report also offers information on several market vendors, including ABB Ltd., Power Barge Corp., GAS Entec Co. Ltd., General Electric Co., Karadeniz Holding, Mitsui O.S.K. Lines Ltd., Volkswagen AG, Waller Marine Inc., Wartsila Corp., and Burmeister & Wain Scandinavian Contractor AS among others.
What will the Powerships Market Size be During the Forecast Period?
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Powerships Market: Key Drivers and Trends
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The rising global energy demand is notably driving the powerships market growth, although factors such as competition from renewable energy sources may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the powerships industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Driver for the Powerships Market
Rising global energy demand is one of the key drivers for the market in focus. The robust economic growth has increased the demand for energy across the globe. The global energy demand growth was driven by countries such as China and the US, which together accounted for more than 70% of the global energy demand growth in 2018. The global electricity demand is expected to increase twofold compared with global energy demand, thus registering a significant growth rate. The growth in global electricity demand is driven by emerging economies such as China and India, which will drive the market in focus during the forecast period.
Key Challenge for the Powerships Market
Competition from renewable energy sources is one of the key challenges for the market in focus. The power sector accounted for nearly two-thirds of the growth in emissions in 2018. As a result, there has been a rising focus on the adoption of clean energy sources such as renewables. The increasing carbon emissions due to power generation has been propelling the adoption of clean energy sources such as renewables. Thus, the rising adoption of renewables for electricity production limits the use of fossil fuels such as natural gas and oil, thereby hindering the growth of the market in focus.
This powerships market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Who are the Major Powerships Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- ABB Ltd.
- Power Barge Corp.
- GAS Entec Co. Ltd.
- General Electric Co.
- Karadeniz Holding
- Mitsui O.S.K. Lines Ltd.
- Volkswagen AG
- Waller Marine Inc.
- Wartsila Corp.
- Burmeister & Wain Scandinavian Contractor AS
This statistical study of the powerships market encompasses successful business strategies deployed by the key vendors. The powerships market is concentrated and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The powerships market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Which are the Key Regions for Powerships Market?
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57% of the market’s growth will originate from MEA during the forecast period. Indonesia, Ghana, Lebanon, Iraq, and Sudan are the key markets for powerships market in MEA. Market growth in this region will be slower than the growth of the market in ROW.
Rising global energy demand and the presence of huge oil reserves will facilitate the powerships market growth in MEA over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What are the Revenue-generating Type Segments in the Powerships Market?
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The powerships market share growth by the oil-fired segment will be significant during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the powerships market size and actionable market insights on post COVID-19 impact on each segment.
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Powerships Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 23% |
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Market growth 2021-2025 |
7.38 GW |
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Market structure |
Concentrated |
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YoY growth (%) |
12.44 |
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Regional analysis |
MEA and ROW |
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Performing market contribution |
MEA at 57% |
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Key consumer countries |
Indonesia, Ghana, Lebanon, Iraq, and Sudan |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
ABB Ltd., Power Barge Corp., GAS Entec Co. Ltd., General Electric Co., Karadeniz Holding, Mitsui O.S.K. Lines Ltd., Volkswagen AG, Waller Marine Inc., Wartsila Corp., and Burmeister & Wain Scandinavian Contractor AS |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Powerships Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive powerships market growth during the next five years
- Precise estimation of the powerships market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the powerships industry across MEA and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of powerships market vendors
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