Insights on the Electric Boat Global Market to 2031
Increasing Demand for Luxury Vehicles With Greater Cabin Comfort is Driving Growth – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Electric Boat Market By Propulsion, By Battery Type, By Range, By Power, By Application: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
According to the report the electric boat market was valued at $5.0 billion in 2021, and is estimated to reach $16.6 billion by 2031, growing at a CAGR of 12.9% from 2022 to 2031.
Electric boats utilize battery power to carry off marine operation. They often utilize renewable energy sources such as wind turbines, solar panels, and towed generators. They utilize marine-grade lead-acid, nickel-based and lithium-ion batteries for enhanced operational efficiency. Electric boats or vessels are generally available in diesel-electric, pure electric, or hybrid variants. In addition, electric boats comprise key components such as electric charger, battery bank, controller, and electric motor.
They operate silently as they do not use internal combustion; are cost-effective; have minimal fuel requirements; and are highly environment friendly. Moreover, these boats are mainly used for recreational purposes and ferrying a small number of passengers. Sometimes these boats are also utilized as rescue vessels to carry out sea operations efficiently.
The market is driven by introduction of regulations regarding emission of greenhouse gases, increase in demand for luxury vehicles with greater cabin comfort, and rise in production & sale of automotive. However, rise in demand for electric vehicles is the factor acting as a hindrance in the growth of the global electric boat market. On the contrary, increase in demand for multi-filtration system, and technological advancements are expected to create ample growth opportunities for the global electric boat market.
With increase in adoption of electric boats across the globe, need for charging infrastructure is also growing subsequently. Government and private organizations in several countries are working closely to setup electric boat charging infrastructure in their region to support e-mobility.
For instance, Aqua superpower, a UK based company has been rapidly building its network of marine “superchargers” across the globe. Built to the highest IP65 standards, each station provides AC and DC fast charger with a high output of 150kW, enabling fast recharging of electric boats.
Key Benefits
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the electric boat market analysis from 2021 to 2031 to identify the prevailing electric boat market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the electric boat market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global electric boat market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Propulsion
- Pure Electric Boats
- Hybrid Electric Boats
By Battery Type
- Lead-acid Battery
- Lithium-ion Battery
- Nickel-based Battery
By Range
- Less than 50 km
- 50 to 100 km
- 101 to 1,000 km
- More than 1,000 km
By Power
- Below 5 KW
- Between 5 KW to 30 KW
- Above 30 KW
By Application
- Passenger Boats
- Cargo Boats
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- ABB LTD
- Aquawatt Green Marine Technologies
- Boesch Motorboote AG
- Boote Marian GmbH
- Candela Technology AB
- Corvus Energy
- Domani Yachts
- Duffy Electric Boat Company
- Echandia Group AB
- ElectraCraft Power Boats
- Frauscher Bootswerft GmbH & Co KG
- Greenline Yachts
- Grove Boats SA
- Learboats USA, Inc.
- NavAlt Solar & Electric Boats Pvt. Ltd
- Quadrofoil d.o.o.
- RAND Boats ApS
- Ruban Bleu
- Soel Yachts B.V.
- Torqeedo GmbH
- Vision Marine Technologies Inc.
- X Shore
- Yamaha Motor Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ejmv75
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