Electric-Boat Market Updates

Global Electric-Boat Market size was valued at USD 2.9 billion in 2023 and is poised to grow from USD 3.27 billion in 2024 to USD 8.57 billion by 2032, growing at a CAGR of 12.8% during the forecast period (2025-2032).

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. 'Torqeedo GmbH (Germany) ', 'Duffy Electric Boat Company (USA) ', 'Pure Watercraft (USA) ', 'Triton Submarines (USA) ', 'Ruban Bleu (France) ', 'Boesch Motorboote AG (Switzerland) ', 'Oceanvolt (Finland) ', 'Ray Electric Outboards (USA) ', 'Aqua-Jet (Sweden) ', 'LEHR (USA) ', 'Kräutler Elektromaschinen GmbH (Austria) ', 'Transfluid Srl (Italy) ', 'Elco Motor Yachts (USA) ', 'Greenline Yachts (Slovenia) ', 'Silent Yachts (Austria) ', 'Candela Speed Boat (Sweden) ', 'Vision Marine Technologies (Canada) ', 'Evoy (Norway) ', 'Nibbi Srl (Italy) ', 'ElectraCraft (USA)'

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 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.