Market Outlook
Forecasts from MRFR indicate the electric ships market Size will grow from USD 10,500.86 million in 2024 to USD 31,155.85 million by 2035, at a CAGR of 10.39% over 2025-2035. This sets the context for segmentation analysis by ship type.

Industry Overview
The electrification of maritime transport is not limited to commercial applications alone. Both commercial fleets (cargo, passenger, workboats) and defence vessels (destroyers, submarines, OSVs) are entering the electric/hybrid domain. However, their growth profiles and demands differ.

Segmentation by Ship Type – Growth Patterns

• Commercial Ship Type: This includes cargo vessels (container ships, tankers, bulk carriers), passenger vessels (cruise ships, yachts, ferries), and others (dredgers, tugs, research vessels). MRFR reports that the commercial ship type segment dominated the market in 2022.
  The drivers here include increasing seaborne trade, rising maritime tourism and implementation of stricter emission regulations (e.g., IMO 2020).
• Defence Ship Type: This covers submarines, aircraft carriers, destroyers, frigates, corvettes, OSVs and other military vessels. While smaller in share initially, defence applications are growing as navies adopt hybrid/electric propulsion for stealth, efficiency and quiet operation.

Power & Range Segmentation Related to Ship Type
Large vessels (commercial or defence) typically fall into the > 1,000 km range category which dominated in 2022. Medium size vessels such as ferries or workboats may fall into the 75–150 kW, 151–745 kW power segments — with 75–150 kW being dominant in 2022.

Strategic Implications for Stakeholders
For companies focused on commercial ship retrofits or newbuilds, targeting the commercial segment offers immediate scale and demand. For those specialising in defence or niche vessel electrification (autonomous vessels, submarines), the defence segment offers high-value but potentially slower adoption. The segmentation data suggest commercial applications are currently leading — meaning players should ensure their solutions are aligned accordingly.

Outlook Summary
Understanding the differences between commercial and defence ship type segmentation is key when entering or scaling in the electric ships market. With commercial vessels leading the growth today and defence applications gaining steam, stakeholders must define their focus, tailor their offerings accordingly and align to the broader market forecast of USD 31 + billion by 2035.