Global Green Shipping Technologies Market Assessment, By Service Type [Value Added Services, Warehousing, Distribution, Transportation, Reverse Logistics, Packaging], By End-use Industry [Marine and Offshore, Defense and Paramilitary Forces, Shipyards, Coastal Security, Oil and Gas Industry, Others], By Region, Opportunities and Forecast, 2018-2032F

Global Green Shipping Technologies Market is projected to witness a CAGR of 25.89% during the forecast period 2025-2032, growing from USD 22.31 billion in 2024 to USD 140.74 billion in 2032. The market has experienced significant growth in recent years and is expected to maintain an expansion in the coming years owing to the decarbonization goals, regulatory frameworks from governments worldwide, and market demand. International bodies such as the International Maritime Organization (IMO) have strict rules under which shipowners have to adopt greener practices, as the IMO aims to cut shipping greenhouse gas emissions by at least 50 percent by 2050. This regulatory pressure encourages industry to investigate alternative fuels and energy-efficient technologies. In addition, technological progress has rendered eco-friendly solutions more attainable and practical, as advancements and decreased costs in carbon-neutral fuels and energy-efficient systems improve vessel design and functioning via automation and digitalization. Growing awareness of climate change and its effects on worldwide ecosystems is further fueling the demand for sustainable shipping methods, as stakeholders such as cargo owners and consumers place greater importance on environmental accountability. This change in consumer choices encourages companies to embrace more sustainable technologies to stay competitive. Furthermore, declining costs for renewable energy sources have made it cost-effective for shipping companies to invest in decarbonizing technology. Collectively, these factors are driving the transition towards greener shipping practices, positioning the market for continued growth.

For instance, in April 2024, HD Hyundai Heavy Industries opened a new research and development facility focused on maritime decarbonization. The Marine Innovative R&D facility will be located at the HD Hyundai Heavy Industries (HHI) yard in Ulsan, South Korea.

Technological Advancements Propelling the Global Green Shipping Technologies Market Growth

The growth of the global green shipping technologies market is significantly propelled by various technological advancements that enhance sustainability and efficiency in maritime operations. Significant advancements involve enhancements in engine performance and the integration of alternative propulsion methods, including wind-assist solutions like Kite-Sail and Rig-Sail systems, which are capable of cutting fuel use and carbon emissions by as much as 20%. In addition, the transition to cleaner fuels, especially liquefied natural gas (LNG), is significant since LNG produces fewer harmful emissions than conventional fuels, thus helping to decrease air pollution from vessels. Moreover, adopting carbon capture and scrubbing technologies further illustrates the sector's dedication to sustainability by allowing vessels to reduce their environmental impact significantly. Overall, the convergence of regulatory pressures, technological innovations, and market dynamics pushes ships toward greener sailing practices.

For instance, in October 2024, HD Hyundai Heavy Industries created an innovative ship design for ammonia dual-fuel container ships, focusing on delivering environmentally friendly shipping solutions that align with global market needs.

Regulatory Framework Worldwide is Expanding the Market Scope

The expansion of regulatory frameworks worldwide is significantly enhancing the scope of the green shipping technologies market. For instance, according to the 2023 IMO GHG Strategy, the International Maritime Organization (IMO) has set ambitious targets for reducing greenhouse gas (GHG) emissions from international shipping, including a goal of reducing carbon intensity by 40% by 2030, and 80% by 2050 compared to 2008 levels. These regulations are designed to compel shipowners to adopt more sustainable practices and technologies, thereby driving innovation in the sector. Regional regulations are also playing a crucial role. For instance, the European Union has integrated maritime transport emissions into its Emissions Trading System (ETS), which requires shipping companies to monitor and report their emissions. This system incentivizes energy efficiency and the adoption of low-carbon solutions by imposing a cap on emissions that decreases over time. The EU's commitment to climate neutrality by 2050 further reinforces the need for green shipping technologies. Moreover, national policies, such as the U.S. Clean Shipping Act, aimed to reduce the carbon intensity of the fuel used by ships to 0% in 2040, are among the most stringent maritime laws globally, mandating compliance with rigorous environmental standards for vessels. Comprehensive regulatory measures create a robust framework that encourages investment in alternative fuels and innovative technologies, such as carbon capture systems and energy-efficient vessel designs.

For instance, in November 2024, The Government of Canada invested USD 30 million in green shipping corridors at Quebec ports.

Dominance of Oil and Gas Industry in Global Green Shipping Technologies Market

The prevailing influence of the oil and gas sector in the worldwide green shipping technologies market reflects an intricate relationship between dependence on conventional energy and the shift toward sustainable methods. For years, the shipping operation has been very much dependent on fossil fuels, especially heavy fuel oils, which are derived from the refining of crude oil. This reliance has made the oil and gas sector an important player in maritime activities. Moreover, the rising regulatory pressures, especially from the International Maritime Organization (IMO), target a substantial reduction in GHG emissions by 2050; such pressures now force the oil and gas sector to transform under the new set of requirements. Companies invest money in research and development to create more environmentally friendly options, such as green LNG, methanol, and hydrogen fuels. As these companies innovate and adapt their offerings to include sustainable options, they can play a crucial role in shaping a greener maritime future while still capitalizing on their established expertise in fuel production and distribution.

For instance, in April 2024, SHM Shipcare, a subsidiary of SHM Group, partnered with Oil and Natural Gas Corporation Limited (ONGC) to launch India's first fast crew boat vessel in the oil and gas sector. They unveiled the inaugural Fast Crew Boat Vessel, Sea Stallion-I, which aims to transform offshore passenger transfer and enhance ONGC’s operational efficiency.

North America Dominates Global Green Shipping Technologies Market Share

North America is presently leading the worldwide green shipping technologies market, propelled by various crucial elements that boost its competitive advantage. The region has an upper edge due to its advanced logistics systems and robust infrastructure, which facilitate efficient cargo handling and transportation. Furthermore, North America emphasizes green shipping initiatives, aligning with global decarbonization goals. The region is actively funding research and development of cutting-edge technologies, such as hydrogen fuel cells and hybrid-electric ships, which are essential for decreasing emissions in maritime activities. Government programs and financial backing for clean energy initiatives enhance this endeavor, encouraging collaborations between industry stakeholders and research organizations. These factors collectively position the region as a dominant player in the global transition towards greener maritime operations.

For instance, in July 2024, Algoma Central Corporation is set to receive USD 480,000 in funding from Transport Canada’s Green Shipping Corridor Program (GSCP). The main goal of the GSCP is to remove the barriers that prevent the implementation of equipment and infrastructure designed to reduce emissions.

Download Free Sample Report

Future Market Scenario (2025 – 2032F)

• Regulatory framework will compel manufacturers and consumers to adopt alternative fuels and innovative technologies further expanding the market scope.
• Innovations in vessel design, propulsion systems, and fuel efficiency are expected to improve operational performance while reducing environmental impact.
• The global shift towards sustainable maritime practices and investments in methanol bunkering infrastructure at key ports enhances the viability of green methanol as a preferred fuel option.

Report Scope

“Green Shipping Technologies Market Assessment, Opportunities and Forecast, 2018-2032F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global green shipping technologies market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2025 and 2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.

Report Attribute	Details
Base Year of the Analysis	2024
Historical Period	2018-2023
Forecast Period	2025-2032
Projected Growth Rate	CAGR of 25.89% between 2025 and 2032
Revenue Forecast in 2032	USD 140.74 billion
Segments Covered	Service Type, End-use Industry
Regions Covered	North America, Europe, South America, Asia-Pacific, Middle East and Africa
Key Companies Profile	HD Hyundai Heavy Industries, Samsung Heavy Industries Co., Ltd, A.P. Moller-Maersk A/S, Samskip Holding B.V., DFDS A/S, Algoma Central Corporation, American Steamship Company, Larsen & Toubro Limited, SHM Group, GREEN SHIP TECHNOLOGIES
Customization Scope	15% free report customization with purchase
Pricing and Purchase Options	Avail the customized purchase options to fulfill your precise research needs
Delivery Format	PDF and Excel through email (subject to the license purchased)

In the report, global green shipping technologies market has been segmented into the following categories: 

• By Service Type
  • Value Added Services
  • Warehousing
  • Distribution
  • Transportation
  • Reverse Logistics
  • Packaging
• By End-use Industry
  • Marine and Offshore
  • Defense and Paramilitary Forces
  • Shipyards
  • Coastal Security
  • Oil and Gas Industry
  • Others
• By Region
  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa

Key Players Landscape and Outlook

The green shipping technologies market is characterized by a dynamic landscape of key players who are driving innovation and sustainability in maritime operations. Companies are concentrating on dual-fuel engine technology that enables ships to run on conventional fuels while also being able to switch to methanol, thereby greatly lowering carbon emissions in comparison to standard marine fuels. They are diligently incorporating sustainable technologies into their shipbuilding methods, demonstrating a dedication to fulfilling regulatory requirements and addressing market demands for environmentally friendly alternatives. The future perspective for the green shipping technologies market appears favorable. The growing regulatory demands targeting the decarbonization of the maritime sector are expected to speed up investments in alternative fuels and cutting-edge technologies. As companies continue adopting sustainable practices and aligning with global decarbonization goals by strategically investing in advanced products, partnerships, and contracts to strengthen their positions in the green shipping sector, the market is expected to grow substantially.

For instance, in September 2022, BASF SE and Samsung Heavy Industries Co., Ltd signed a memorandum of understanding to collaborate on Onboard Carbon Capture and Storage (OCCS) technology for maritime vessels. BASF will leverage its expertise in floating liquefied natural gas (FLNG) and its OASE blue technology to enhance sustainability by achieving significant energy savings compared to traditional methods.

Key Players Operating in Global Green Shipping Technologies Market are:

• HD Hyundai Heavy Industries
• Samsung Heavy Industries Co., Ltd
• P. Moller-Maersk A/S
• Samskip Holding B.V.
• DFDS A/S
• Algoma Central Corporation
• American Steamship Company
• Larsen & Toubro Limited
• SHM Group
• GREEN SHIP TECHNOLOGIES

Markets and Data’s reports answer the following questions:

• What is the current and future market size of the product/service in question globally or specific to different countries?
• How are the markets divided into different product/service segments and the market size and growth of each segment?
• What is the market potential of different product segments and their investment case?
• How are the markets predicted to develop in the future and what factors will drive or inhibit growth?
• What is the business environment and regulatory landscape specific to the product/service?

If you can't find what you're searching for or have any custom requirements for global green shipping technologies market, you may approach our team at info@marketsandata.com