Global Electric-Boat Market

Electric-Boat Market Size, Share, Growth Analysis, By Propulsion type(Hybrid and pure electric and others), By Battery type(Lead-acid, Lithium-ion, and Nickel-based Batteries and others), By Carriage type(Passenger and Cargo), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20T2006 | Region: Global | Published Date: July, 2024
Pages: 242 |Tables: 86 |Figures: 76

Electric-Boat Market Insights

Electric-Boat Market size was valued at USD 5 billion in 2019 and is poised to grow from USD 5.64 billion in 2023 to USD 16.6 billion by 2031, growing at a CAGR of 12.9% in the forecast period (2024-2031).

Electric-Boats are becoming popular since they have many advantages such as more charging sources, sufficient range, no limits, thin batteries, infrastructure already present on the Quay, silence, zero impact, flexible and adaptable, less weight, more space, without transmission, inboard and outboard.

Electric boards also help in reducing water pollution and prevent harm to the wildlife above and below the surface of the sea and ocean.The propulsion of electric boat is emission free, which means harmful substances such as carbon monoxide, hydrocarbons, particulate matters and nitrogen oxides are not released into atmosphere whilst engine is running.It is run off clean and green energy charge directly from the grid. Electric boat owners can choose to power their vessels from renewable electricity, making them more environmentally friendly than combustion engines.

US Electric-Boat Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 5 billion

Largest Segment

Lead-acid

Fastest Growth

Lead-acid

Growth Rate

12.9% CAGR

Global Electric-Boat Market ($ Bn)
Country Share for Europe Region (%)

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Electric-Boat Market Segmental Analysis

Global Electric-Boat market is segmented on the basis of Propulsion Type, battery type, carriage type and region. By Propulsion Type, the market is segmented into Hybrid and pure electric and others. By battery type, the market is segmented into Lead-acid, Lithium-ion, and Nickel-based Batteries and others. By carriage type, the market is segmented into Passenger and Cargo. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Electric-Boat Market Analysis by Battery Type

By type, the global market is divided into many segments such as Lead-acid, Lithium-ion, and Nickel-based Batteries and others. Lithium-ion segment held the largest global Electric-Boat market share due to the wide range of benefits provided by it in Electric-Boat. Furthermore, these provide very smooth connectivity and efficient operation of boat modules. OEMs across the world are continuously focusing on the development and integrity of Electric-Boat in various types of applications. Demand for miniaturization and thin batteries are growing which also boosts the Electric-Boat market globally.

Global Electric-Boat Market By Battery Type, 2023 (%)

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Electric-Boat Market Regional Insights

Globally, Europe is estimated to hold the highest global Electric-Boat market share, followed by North America and Asia Pacific. In Europe, the U.K., Germany, and France are the leading revenue generator countries to the Europe market. Main factors during this growth period are the presence of top market players and government initiatives. and others.

Above all, Europe is expected to grow fastest during the forecast period. The reason for the same is increasing acquisition of Electric-Boat technology in the region of North America and europe. In addition, mobile network operators are investing heavily in order to provide services at an affordable price to the consumers, which is likely to boost the demand for Electric-Boat in the region.

Global Electric-Boat Market By Region, 2024-2031
  • Largest
  • Fastest

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Electric-Boat Market Dynamics

Electric-Boat Market Drivers

Environmental Friendly Features to Bolster Market Growth

  • It helps in reducing water pollution and prevent harm to the wildlife above and below the surface of the sea and ocean.The propulsion of electric boat is emission free, which means harmful substances such as carbon monoxide, hydrocarbons, particulate matters and nitrogen oxides are not released into atmosphere whilst engine is running.It is run off clean and green energy charge directly from the grid. Electric boat owners can choose to power their vessels from renewable electricity, making them more environmentally friendly than combustion engines.These benefits provided by electric boats to the environment will aid the growth of the market in future.

Electric-Boat Market Restraints

Lack of Infrastructure to Hinder Market

  • The lack of charging facility, a poor range and slow speeds are the major restraint for the growth of electric boats market.The regularly powered boards have higher speed compared to electrically powered boats.Along with an 8 porches price of electric board is still higher due to the electric tender expensiveness to buy a comparable model that runs on petrol or diesel.

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Electric-Boat Market Competitive Landscape

Competition in the global Electric-Boat market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of devices compatible with Electric-Boat will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years.

Electric-Boat Market Top Player’s Company Profiles

  • Torqeedo GmbH (Germany)
  • Duffy Electric Boat Company (USA)
  • Ruban Bleu (France)
  • Triton Submarines (USA)
  • WhisperPower (Netherlands)
  • Pure Watercraft (USA)
  • Eco Marine Power (Japan)
  • Boesch Motorboote AG (Switzerland)
  • XALT Energy (USA)
  • Saft Batteries (France)
  • Ray Electric Outboards (USA)
  • Aqua-Jet (Sweden)
  • LEHR (USA)
  • Kräutler Elektromaschinen GmbH (Austria)
  • Transfluid Srl (Italy)
  • Elco Motor Yachts (USA)
  • Rheinstrom-Pumpenfabrik GmbH & Co. KG (Germany)
  • Ansaldo Energia (Italy)
  • Oceanvolt (Finland)
  • Echandia Marine AB (Sweden)

Electric-Boat Market Recent Developments

  • In January 2022, Pure Watercraft, a leading manufacturer of electric boats and propulsion systems, today unveiled its groundbreaking all-electric pontoon boat at CES and opened pre-orders on its web site. This is the first product to result from Pure Watercraft's collaboration with General Motors (NYSE: GM).

Electric-Boat Key Market Trends

  • Electrification of recreational boating has attracted traditional industry heavyweights such as Brunswick Corp. and Mercury Marine Corp., plus a variety of startups.The market for electric leisure craft continues to grow at an increasing rate as more boat owners make a deliberate choice between conventional internal combustion engines (ICEs) or a quiet, clean drive technology.

Electric-Boat Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global Electric-Boat market analysis, the global market is estimated to have significant growth during the forecast period because of the benefits it consists of such as more charging sources, sufficient range, no limits, thin batteries, infrastructure already present on the Quay, silence, zero impact, flexible and adaptable, less weight, more space, without transmission, inboard and outboard. Electric-Boat s will enable services to be more convenient for their users. The market has so much potential for new players also because of the high expected rate of growth and demand.

Report Metric Details
Market size value in 2023 USD 5 billion
Market size value in 2031 USD 16.6 billion
Growth Rate 12.9%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Propulsion type
    • Hybrid and pure electric and others
  • Battery type
    • Lead-acid, Lithium-ion, and Nickel-based Batteries and others
  • Carriage type
    • Passenger and Cargo
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Torqeedo GmbH (Germany)
  • Duffy Electric Boat Company (USA)
  • Ruban Bleu (France)
  • Triton Submarines (USA)
  • WhisperPower (Netherlands)
  • Pure Watercraft (USA)
  • Eco Marine Power (Japan)
  • Boesch Motorboote AG (Switzerland)
  • XALT Energy (USA)
  • Saft Batteries (France)
  • Ray Electric Outboards (USA)
  • Aqua-Jet (Sweden)
  • LEHR (USA)
  • Kräutler Elektromaschinen GmbH (Austria)
  • Transfluid Srl (Italy)
  • Elco Motor Yachts (USA)
  • Rheinstrom-Pumpenfabrik GmbH & Co. KG (Germany)
  • Ansaldo Energia (Italy)
  • Oceanvolt (Finland)
  • Echandia Marine AB (Sweden)
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Electric-Boat Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Electric-Boat Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Electric-Boat Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Electric-Boat Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Electric-Boat Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Electric-Boat Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Electric-Boat Market size was valued at USD 5 billion in 2019 and is poised to grow from USD 5.64 billion in 2023 to USD 16.6 billion by 2031, growing at a CAGR of 12.9% in the forecast period (2024-2031).

Competition in the Electric-Boat market is expected to increase during the forecast period because new players are expected to enter in the market and the number of devices compatible with Electric-Boat will also increase. Currently, only a few key players are providing their services in the market but these numbers will increase in the upcoming years. 'Torqeedo GmbH (Germany)', 'Duffy Electric Boat Company (USA)', 'Ruban Bleu (France)', 'Triton Submarines (USA)', 'WhisperPower (Netherlands)', 'Pure Watercraft (USA)', 'Eco Marine Power (Japan)', 'Boesch Motorboote AG (Switzerland)', 'XALT Energy (USA)', 'Saft Batteries (France)', 'Ray Electric Outboards (USA)', 'Aqua-Jet (Sweden)', 'LEHR (USA)', 'Kräutler Elektromaschinen GmbH (Austria)', 'Transfluid Srl (Italy)', 'Elco Motor Yachts (USA)', 'Rheinstrom-Pumpenfabrik GmbH & Co. KG (Germany)', 'Ansaldo Energia (Italy)', 'Oceanvolt (Finland)', 'Echandia Marine AB (Sweden)'

It helps in reducing water pollution and prevent harm to the wildlife above and below the surface of the sea and ocean.The propulsion of electric boat is emission free, which means harmful substances such as carbon monoxide, hydrocarbons, particulate matters and nitrogen oxides are not released into atmosphere whilst engine is running.It is run off clean and green energy charge directly from the grid. Electric boat owners can choose to power their vessels from renewable electricity, making them more environmentally friendly than combustion engines.These benefits provided by electric boats to the environment will aid the growth of the market in future.

Electrification of recreational boating has attracted traditional industry heavyweights such as Brunswick Corp. and Mercury Marine Corp., plus a variety of startups.The market for electric leisure craft continues to grow at an increasing rate as more boat owners make a deliberate choice between conventional internal combustion engines (ICEs) or a quiet, clean drive technology.

Globally, Europe is estimated to hold the highest Electric-Boat market share, followed by North America and Asia Pacific. In Europe, the U.K., Germany, and France are the leading revenue generator countries to the Europe market. Main factors during this growth period are the presence of top market players and government initiatives. and others.

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Global Electric-Boat Market

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