PUBLISHER: Acute Market Reports | PRODUCT CODE: 1129117
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1129117
Electric Boat Market - Growth, Future Prospects and Competitive Analysis, 2022 - 2030
Key Market Insights
"Environmental concerns and strict laws for clean energy source is driving the electric boat market, worldwide"
Growing concern about environment and advancement in battery technology have influenced any industries across the globe to adopt green-tech in their application. With traditional combustion-based boats emits high pollution, there is a need for an alternate energy source to propel boats. The electric boat is one such industry where manufacturers are shifting towards batteries for improving the carbon footprint of the industry. Along with this, with the passage of the Paris Climate Agreement, many countries of the world are forming laws to promote eco-friendly technologies, the boat industry is not an exclusion from it.
On the other hand, the wider application of electric boats is hindered by the high prices of boats with longer runtime and higher speed. However, the global electric boat market expected to cross US$ 16.71 Bn by 2030, growing at a CAGR of 11.9% from 2022 to 2030.
Battery Type Analysis
"New age lithium-ion battery technology is preferred by manufacturers"
The use of lithium-ion batteries is the current trend in the boating industry. Lithium-ion batteries offer high energy density, longer life, and low maintenance making it the preferred choice of the manufacturers such as Torqeedo to adopt lithium-ion batteries in its boats. In 2017, Torqeedo adopted BMW's lithium-ion battery for its marine market. Further, light-weight, fast-charging and low toxicity level adds up to the advantages of the use of a lithium-ion battery in electric boats.
Although the lithium-ion battery has a number of advantages, battery manufacturers are focusing on new battery technology such as silicon-anode, solid-state and other possible technologies to further improve the performance. These upcoming battery technologies expected to reduce the market share of lithium-ion batteries in the future.
Regional Analysis
"Increasing adoption in the U.S. made North America the largest regional market"
North America is the largest regional market in 2021 owing to its high demand for electric boats. The regional population now prefer new electric boats for leisure and recreational purposes that includes ski boats, pontoon boats, sailboats and houseboats used for vacationing and for residential purpose for long-term. High local demand influenced corporate investment and partnership in the region.
For instance, in November 2019, Exro Technologies Inc. partnered with The Templar Marine Group Ltd. for optimizing the performance of electrical engines. Such company-to-company partnerships helps to grow the market in 2018. Moreover, in April 2018, Canadian Electric Boat Co. won the "Future of the Industry" award from the AMQ. The award recognized the company's development of boating and its vision to the marine industry.
"Emerging partnership trend is keeping the market competitive"
The overall electric boat market is fragmented and market players are focusing on partnership and improving their boat capability to bolster their market position. For instance, Torqeedo is using BMW i3 and i8 battery technologies for its electric boats. This new "Deep Blue 40 kWh" battery has 30% more capacity and an energy density of 144 Wh per kg. Further, in December 2018, Torqeedo displayed its 100 KW motor for its deep blue drive system.
List of Companies Covered:
General Dynamics Electric Boat
ElectraCraft Boats
Canadian Electric Boat Co.
Grove Boats SA
Duffy Electric Boat Company
Torqeedo GmbH
Boote Marian GmbH
Naviwatt
Ruban Bleu
Alfastreet Marine
Others
Key Industry Development:
Major industry players participate in the Boat Shows to promote their brand. For instance, Alfastreet Marine premiered its latest 28 ft. cabin cruise which is equipped with 100% electric drive.
In November 2018, Laguna 760 of Boote Marian GmbH awarded "Excellent Product Design" from German Design Award. Equipped with a powerful electric motor, Laguna 760 is the next step towards electro-mobility and offers excellent performance. With this recognition, the company expected to improve its market share in the coming years.
In August 2019, Canadian Electric Boat Co. expanding its Boisbriand plant for producing a photovoltaic roof for its Volt 180 and Fantail 217 models. Also, with this expansion, the new Phoenix model will be alive and powered by 2 BMW i3 batteries, Torqeedo's deep blue twin engine.
Historical & Forecast Period:
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Electric Boat market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report
Micro and macro environment factors that are currently influencing the Electric Boat market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
ATTRIBUTE DETAILS
Research Period 2020-2030
Base Year 2021
Forecast Period 2022-2030
Historical Year 2020
Unit USD Million
Segmentation
Type
Hybrid
Pure Electric
Battery
Lithium-ion
Lead Acid
Nickel-based
Runtime
Less than 7 hours
7 to 12 hours
More than 12 hours
Passenger Capacity
Less than 10 Passengers
10 to 25 Passengers
More than 25 Passengers
Region Segment (2020-2030; US$ Million)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Global Impact of COVID-19 Segment (2020-2021; US$ Million )
Pre COVID-19 situation
Post COVID-19 situation
Key questions answered in this report:
What are the key micro and macro environmental factors that are impacting the growth of Electric Boat market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Electric Boat market?
Which is the largest regional market for Electric Boat market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Electric Boat market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Electric Boat market worldwide?
Table of Contents
1. Preface
- 1.1. Report Description
- 1.1.1. Purpose of the Report
- 1.1.2. Target Audience
- 1.1.3. Key Offerings
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.3.1. Phase I - Secondary Research
- 1.3.2. Phase II - Primary Research
- 1.3.3. Phase III - Expert Panel Review
- 1.3.4. Assumptions
- 1.3.5. Approach Adopted
2. Executive Summary
- 2.1. Market Snapshot: Global Electric Boat Market
- 2.2. Global Electric Boat Market, By Type, 2021 (US$ Million)
- 2.3. Global Electric Boat Market, By Battery, 2021 (US$ Million)
- 2.4. Global Electric Boat Market, By Runtime, 2021 (US$ Million)
- 2.5. Global Electric Boat Market, By Passenger Capacity, 2021 (US$ Million)
- 2.6. Global Electric Boat Market, By Geography, 2021 (US$ Million)
- 2.7. Impact of Covid 19
- 2.8. Attractive Investment Proposition by Geography, 2021
- 2.9. Competitive Analysis
- 2.9.1. Market Positioning of Key Electric Boat Market Vendors
- 2.9.2. Strategies Adopted by Electric Boat Market Vendors
- 2.9.3. Key Industry Strategies
3. Electric Boat Market: Business Outlook & Market Dynamics
- 3.1. Introduction
- 3.2. Global Electric Boat Market Value, 2020 - 2030, (US$ Million)
- 3.3. Market Dynamics
- 3.3.1. Market Drivers
- 3.3.2. Market Restraints
- 3.3.3. Key Challenges
- 3.3.4. Key Opportunities
- 3.4. Impact Analysis of Drivers and Restraints
- 3.5. See-Saw Analysis
- 3.6. Porter's Five Force Model
- 3.6.1. Supplier Power
- 3.6.2. Buyer Power
- 3.6.3. Threat Of Substitutes
- 3.6.4. Threat Of New Entrants
- 3.6.5. Competitive Rivalry
- 3.7. PESTEL Analysis
- 3.7.1. Political Landscape
- 3.7.2. Economic Landscape
- 3.7.3. Technology Landscape
- 3.7.4. Legal Landscape
- 3.7.5. Social Landscape
4. Electric Boat Market: By Type, 2020-2030, USD (Million)
- 4.1. Market Overview
- 4.2. Growth & Revenue Analysis: 2021 Versus 2030
- 4.3. Market Segmentation
- 4.3.1. Hybrid
- 4.3.2. Pure Electric
5. Electric Boat Market: By Battery, 2020-2030, USD (Million)
- 5.1. Market Overview
- 5.2. Growth & Revenue Analysis: 2021 Versus 2030
- 5.3. Market Segmentation
- 5.3.1. Lithium-ion
- 5.3.2. Lead Acid
- 5.3.3. Nickel-based
6. Electric Boat Market: By Runtime, 2020-2030, USD (Million)
- 6.1. Market Overview
- 6.2. Growth & Revenue Analysis: 2021 Versus 2030
- 6.3. Market Segmentation
- 6.3.1. Less than 7 hours
- 6.3.2. 7 to 12 hours
- 6.3.3. More than 12 hours
7. Electric Boat Market: By Passenger Capacity, 2020-2030, USD (Million)
- 7.1. Market Overview
- 7.2. Growth & Revenue Analysis: 2021 Versus 2030
- 7.3. Market Segmentation
- 7.3.1. Less than 10 Passengers
- 7.3.2. 10 to 25 Passengers
- 7.3.3. More than 25 Passengers
8. North America Electric Boat Market, 2020-2030, USD (Million)
- 8.1. Market Overview
- 8.2. Electric Boat Market: By Type, 2020-2030, USD (Million)
- 8.3. Electric Boat Market: By Battery, 2020-2030, USD (Million)
- 8.4. Electric Boat Market: By Runtime, 2020-2030, USD (Million)
- 8.5. Electric Boat Market: By Passenger Capacity, 2020-2030, USD (Million)
- 8.6.Electric Boat Market: By Region, 2020-2030, USD (Million)
- 8.6.1.North America
- 8.6.1.1. U.S.
- 8.6.1.2. Canada
- 8.6.1.3. Rest of North America
- 8.6.1.North America
9. UK and European Union Electric Boat Market, 2020-2030, USD (Million)
- 9.1. Market Overview
- 9.2. Electric Boat Market: By Type, 2020-2030, USD (Million)
- 9.3. Electric Boat Market: By Battery, 2020-2030, USD (Million)
- 9.4. Electric Boat Market: By Runtime, 2020-2030, USD (Million)
- 9.5. Electric Boat Market: By Passenger Capacity, 2020-2030, USD (Million)
- 9.6.Electric Boat Market: By Region, 2020-2030, USD (Million)
- 9.6.1.UK and European Union
- 9.6.1.1. UK
- 9.6.1.2. Germany
- 9.6.1.3. Spain
- 9.6.1.4. Italy
- 9.6.1.5. France
- 9.6.1.6. Rest of Europe
- 9.6.1.UK and European Union
10. Asia Pacific Electric Boat Market, 2020-2030, USD (Million)
- 10.1. Market Overview
- 10.2. Electric Boat Market: By Type, 2020-2030, USD (Million)
- 10.3. Electric Boat Market: By Battery, 2020-2030, USD (Million)
- 10.4. Electric Boat Market: By Runtime, 2020-2030, USD (Million)
- 10.5. Electric Boat Market: By Passenger Capacity, 2020-2030, USD (Million)
- 10.6.Electric Boat Market: By Region, 2020-2030, USD (Million)
- 10.6.1.Asia Pacific
- 10.6.1.1. China
- 10.6.1.2. Japan
- 10.6.1.3. India
- 10.6.1.4. Australia
- 10.6.1.5. South Korea
- 10.6.1.6. Rest of Asia Pacific
- 10.6.1.Asia Pacific
11. Latin America Electric Boat Market, 2020-2030, USD (Million)
- 11.1. Market Overview
- 11.2. Electric Boat Market: By Type, 2020-2030, USD (Million)
- 11.3. Electric Boat Market: By Battery, 2020-2030, USD (Million)
- 11.4. Electric Boat Market: By Runtime, 2020-2030, USD (Million)
- 11.5. Electric Boat Market: By Passenger Capacity, 2020-2030, USD (Million)
- 11.6.Electric Boat Market: By Region, 2020-2030, USD (Million)
- 11.6.1.Latin America
- 11.6.1.1. Brazil
- 11.6.1.2. Mexico
- 11.6.1.3. Rest of Latin America
- 11.6.1.Latin America
12. Middle East and Africa Electric Boat Market, 2020-2030, USD (Million)
- 12.1. Market Overview
- 12.2. Electric Boat Market: By Type, 2020-2030, USD (Million)
- 12.3. Electric Boat Market: By Battery, 2020-2030, USD (Million)
- 12.4. Electric Boat Market: By Runtime, 2020-2030, USD (Million)
- 12.5. Electric Boat Market: By Passenger Capacity, 2020-2030, USD (Million)
- 12.6.Electric Boat Market: By Region, 2020-2030, USD (Million)
- 12.6.1.Middle East and Africa
- 12.6.1.1. GCC
- 12.6.1.2. Africa
- 12.6.1.3. Rest of Middle East and Africa
- 12.6.1.Middle East and Africa
13. Company Profile
- 13.1. General Dynamics Electric Boat
- 13.1.1. Company Overview
- 13.1.2. Financial Performance
- 13.1.3. Product Portfolio
- 13.1.4. Strategic Initiatives
- 13.2. ElectraCraft Boats
- 13.2.1. Company Overview
- 13.2.2. Financial Performance
- 13.2.3. Product Portfolio
- 13.2.4. Strategic Initiatives
- 13.3. Canadian Electric Boat Co.
- 13.3.1. Company Overview
- 13.3.2. Financial Performance
- 13.3.3. Product Portfolio
- 13.3.4. Strategic Initiatives
- 13.4. Grove Boats SA
- 13.4.1. Company Overview
- 13.4.2. Financial Performance
- 13.4.3. Product Portfolio
- 13.4.4. Strategic Initiatives
- 13.5. Duffy Electric Boat Company
- 13.5.1. Company Overview
- 13.5.2. Financial Performance
- 13.5.3. Product Portfolio
- 13.5.4. Strategic Initiatives
- 13.6. Torqeedo GmbH
- 13.6.1. Company Overview
- 13.6.2. Financial Performance
- 13.6.3. Product Portfolio
- 13.6.4. Strategic Initiatives
- 13.7. Boote Marian GmbH
- 13.7.1. Company Overview
- 13.7.2. Financial Performance
- 13.7.3. Product Portfolio
- 13.7.4. Strategic Initiatives
- 13.8. Naviwatt
- 13.8.1. Company Overview
- 13.8.2. Financial Performance
- 13.8.3. Product Portfolio
- 13.8.4. Strategic Initiatives
- 13.9. Ruban Bleu
- 13.9.1. Company Overview
- 13.9.2. Financial Performance
- 13.9.3. Product Portfolio
- 13.9.4. Strategic Initiatives
- 13.10. Alfastreet Marine
- 13.10.1. Company Overview
- 13.10.2. Financial Performance
- 13.10.3. Product Portfolio
- 13.10.4. Strategic Initiatives
List of Tables
- TABLE 1 Global Electric Boat Market By Type, 2020-2030, USD (Million)
- TABLE 2 Global Electric Boat Market By Battery, 2020-2030, USD (Million)
- TABLE 3 Global Electric Boat Market By Runtime, 2020-2030, USD (Million)
- TABLE 4 Global Electric Boat Market By Passenger Capacity, 2020-2030, USD (Million)
- TABLE 5 North America Electric Boat Market By Type, 2020-2030, USD (Million)
- TABLE 6 North America Electric Boat Market By Battery, 2020-2030, USD (Million)
- TABLE 7 North America Electric Boat Market By Runtime, 2020-2030, USD (Million)
- TABLE 8 North America Electric Boat Market By Passenger Capacity, 2020-2030, USD (Million)
- TABLE 9 UK and European Union Electric Boat Market By Type, 2020-2030, USD (Million)
- TABLE 10 UK and European Union Electric Boat Market By Battery, 2020-2030, USD (Million)
- TABLE 11 UK and European Union Electric Boat Market By Runtime, 2020-2030, USD (Million)
- TABLE 12 UK and European Union Electric Boat Market By Passenger Capacity, 2020-2030, USD (Million)
- TABLE 13 Asia Pacific Electric Boat Market By Type, 2020-2030, USD (Million)
- TABLE 14 Asia Pacific Electric Boat Market By Battery, 2020-2030, USD (Million)
- TABLE 15 Asia Pacific Electric Boat Market By Runtime, 2020-2030, USD (Million)
- TABLE 16 Asia Pacific Electric Boat Market By Passenger Capacity, 2020-2030, USD (Million)
- TABLE 17 Latin America Electric Boat Market By Type, 2020-2030, USD (Million)
- TABLE 18 Latin America Electric Boat Market By Battery, 2020-2030, USD (Million)
- TABLE 19 Latin America Electric Boat Market By Runtime, 2020-2030, USD (Million)
- TABLE 20 Latin America Electric Boat Market By Passenger Capacity, 2020-2030, USD (Million)
- TABLE 21 Middle East and Africa Electric Boat Market By Type, 2020-2030, USD (Million)
- TABLE 22 Middle East and Africa Electric Boat Market By Battery, 2020-2030, USD (Million)
- TABLE 23 Middle East and Africa Electric Boat Market By Runtime, 2020-2030, USD (Million)
- TABLE 24 Middle East and Africa Electric Boat Market By Passenger Capacity, 2020-2030, USD (Million)
List of Figures
- FIG. 1 Global Electric Boat Market: Market Coverage
- FIG. 2 Research Methodology and Data Sources
- FIG. 3 Market Size Estimation - Top Down & Bottom-Up Approach
- FIG. 4 Global Electric Boat Market: Quality Assurance
- FIG. 5 Global Electric Boat Market, By Type, 2021
- FIG. 6 Global Electric Boat Market, By Battery, 2021
- FIG. 7 Global Electric Boat Market, By Runtime, 2021
- FIG. 8 Global Electric Boat Market, By Passenger Capacity, 2021
- FIG. 9 Global Electric Boat Market, By Geography, 2021
- FIG. 10 Global Electric Boat Market, By Type, 2021 Vs 2030, %
- FIG. 11 Global Electric Boat Market, By Battery, 2021 Vs 2030, %
- FIG. 12 Global Electric Boat Market, By Runtime, 2021 Vs 2030, %
- FIG. 13 Global Electric Boat Market, By Passenger Capacity, 2021 Vs 2030, %
- FIG. 14 U.S. Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 15 Canada Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 16 Rest of North America Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 17 UK Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 18 Germany Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 19 Spain Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 20 Italy Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 21 France Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 22 Rest of Europe Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 23 China Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 24 Japan Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 25 India Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 26 Australia Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 27 South Korea Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 28 Rest of Asia Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 29 Brazil Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 30 Mexico Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 31 Rest of Latin America Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 32 GCC Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 33 Africa Electric Boat Market (US$ Million), 2020 - 2030
- FIG. 34 Rest of Middle East and Africa Electric Boat Market (US$ Million), 2020 - 2030
