PUBLISHER: Allied Market Research | PRODUCT CODE: 1179582
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179582
Solar boat or solar electric boats are marine vessels, are operated with battery power and have solar panels for charging the battery. Solar boats utilize solar energy to power the boats' motors, navigation systems, and onboard electronic equipment. Solar panels mounted on the boat harvest solar energy from the sun and transfer it to a charge controller, which controls flow of electricity to rechargeable batteries, such as lithium-ion batteries. In addition, solar boats have several advantages, such as lower running costs, less maintenance, less environmental impact, and others.
Popularity of hybrid solar boat is increasing, owing to its reduced carbon emissions, high efficiency, and ability to offer greater range. Numerous market players are introducing new hybrid boat models to cater to the growing consumer demand, which supplements the growth of the market. For instance, in 2021, in Singapore, Bureau Veritas certified and classed Singapore's first hybrid-powered ship. This ship is built and operated by Penguin Shipyard International. This hybrid ship is named as Penguin Tenaga, which is 15 meter long and is capable of entirely running in electric mode at 5 knots. In addition, solar panels installed on the roof of Penguin Tenaga provide electrical energy that is used to recharge mobile devices on board and supplements the vessel's "hotel load".
The growth of the global solar boat market is propelling due to introduction of stringent emission regulations, and growth in the marine tourism industry across the globe. However, less operational efficiency and high purchase and maintenance cost of solar boats are factors hampering the growth of the market. Furthermore, government support to promote adoption of electric and solar boat is expected to offer growth opportunities during the forecast period.
The solar boat market is segmented on the battery type, solar panel type, application, and region. By battery type, it is classified into lead acid, lithium-ion, and others. By solar panel type, it is categorized into monocrystalline and polycrystalline. By application, it is fragmented into passenger boats, cargo boats, and others. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For Stakeholders
By Battery Type
By Solar Panel Type
By Application
By Region