Electric Boats Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019-2029, Segmented By Power ; By Propulsion ; By Battery Type ; By Range ; By Application ; By Region

Description

Global Electric Boats Market Size More Than Doubles to Touch USD 13.1 Billion by 2029.

Global electric boats market is flourishing because of the rising maritime trade operations, focus on managing the escalating pollution rates, increasing awareness about environmental conservation, and the expanding marine tourism sector.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global electric boats market size at USD 5.6 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global electric boats market size to grow at a significant CAGR of 12.9% reaching a value of USD 13.09 billion by 2029. Major growth drivers for the global electric boats market include the rising demand for environmentally friendly transportation, the imposition of stringent environmental regulations, advancements in electric propulsion technology, and an increasing awareness of carbon emissions within the maritime sector. There is a growing emphasis on sustainable transportation solutions driven by mounting environmental concerns and apprehensions about water pollution. In order to meet rigorous emissions standards, boat manufacturers and operators are progressively embracing electric propulsion systems as cleaner and more energy-efficient alternatives to conventional engines. Furthermore, ongoing innovations in electric propulsion technology, such as enhancements in battery efficiency and charging infrastructure, are augmenting the feasibility and accessibility of electric boats. Collectively, these elements contribute to the expanding electric boats market. However, lack of infrastructure and high initial cost associated with electric boats are anticipated to restrain the overall market growth during the forecast period.

Global Electric Boats Market - Overview:

The global electric boats market refers to the industry involved in the design, production, and distribution of watercraft (such as boats, yachts, and ships) that utilize electric propulsion systems as their primary source of power. Electric boats are distinct from traditional vessels that rely on internal combustion engines, as they are equipped with electric motors and batteries or other electrical power sources to generate propulsion. This market encompasses various types and sizes of electric watercraft, ranging from small recreational boats to larger commercial and industrial vessels. The growth of this market is driven by factors like environmental concerns, regulatory mandates for reduced emissions, advancements in electric propulsion technology, and the increasing adoption of sustainable and eco-friendly transportation solutions in the maritime sector.

Impact of COVID-19 on Global Electric Boats Market:

COVID-19 pandemic adversely affected the global electric boats market. It led to closure of manufacturing facility and the implementation of trade restrictions worldwide. Consequently, the maritime transport sector faced a considerable downturn, with ships stranded at sea and unable to access ports, leading to a significant surge in operational expenses for shipping companies. Notably, the imposition of travel restrictions led to a substantial decrease in container ship traffic by 13.77% and passenger ship traffic by 42.77%. Nevertheless, with governments gradually relaxing restrictions to spur economic recovery, there is optimism that the market will regain momentum in the foreseeable future. Many electric marine propulsion companies responded by making strategic investments in digitalization, allowing for real-time remote fleet monitoring and creating fresh revenue opportunities for original equipment manufacturers (OEMs).

Global Electric Boats Market - By Range:

Based on range, the global electric boats market is divided into Below 5 KW, 5-30 KW, and Above 30 KW segments. The below 5 KW segment holds the highest share in the global electric boats market by range. Boats in the below 5 KW range segment are typically smaller, often used for recreational purposes, such as personal watercraft, kayaks, and small fishing boats. They are energy-efficient and cater to a broader consumer base, including individual enthusiasts and rental services. Additionally, these smaller electric boats are often more affordable, making them accessible to a larger audience. This combination of versatility, affordability, and eco-friendliness drives their popularity and market dominance in the electric boat industry.

Competitive Landscape:

Major players operating in the global electric boats market include: ABB LTD, Greenline Yachts, Vision Marine Technologies Inc., Duffy Electric Boat Company, RAND Boats Ap, Corvus Energy, Frauscher Bootswerft GmbH & Co KG, Boote Marian GmbH, Grove Boats SA, Boesch Motorboote AG, Torqeedo GmbH, Soel Yachts B.V., Echandia Group AB, Candela Technology AB, and Yamaha Motor Co., Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Electric Boats Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Electric Boats Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Product Code: BWC23792

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. Global Electric Boats Market Insights

3.1. Industry Value Chain Analysis
3.2. DROC Analysis
- 3.2.1. Growth Drivers
  - 3.2.1.1. Rise in seaborne trade activities
  - 3.2.1.2. Rise in pollution levels and rise in awareness regarding climate conservation
  - 3.2.1.3. Growth in the marine tourism industry
- 3.2.2. Restraints
  - 3.2.2.1. Lack of infrastructure
  - 3.2.2.2. High initial cost associated with electric boats
- 3.2.3. Opportunities
  - 3.2.3.1. Growth and development to expand charging infrastructure
  - 3.2.3.2. Government support to promote adoption of electric boats,
- 3.2.4. Challenges
  - 3.2.4.1. Lack of awareness regarding electric boats among consumers
3.3. Technology Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry

4. Global Electric Boats Market Overview

4.1. Market Size & Forecast, 2019-2029
- 4.1.1. By Value (USD Million)
4.2. Market Share & Forecast
- 4.2.1. By Power
  - 4.2.1.1. Less than 50 km
  - 4.2.1.2. 50-100 km
  - 4.2.1.3. 101-1,000 km
  - 4.2.1.4. More than 1,000 km
- 4.2.2. By Propulsion
  - 4.2.2.1. Pure Electric Boats
  - 4.2.2.2. Hybrid Electric Boats
- 4.2.3. By Battery Type
  - 4.2.3.1. 2D Battery Type
  - 4.2.3.2. 3D Battery Type
  - 4.2.3.3. 4D Battery Type
- 4.2.4. By Range
  - 4.2.4.1. Below 5 KW
  - 4.2.4.2. Between 5-30 KW
  - 4.2.4.3. Above 30 KW
- 4.2.5. By Application
  - 4.2.5.1. Passenger Boats
  - 4.2.5.2. Cargo Boats
  - 4.2.5.3. Others
- 4.2.6. By Region
  - 4.2.6.1. North America
  - 4.2.6.2. Europe
  - 4.2.6.3. Asia Pacific (APAC)
  - 4.2.6.4. Latin America (LATAM)
  - 4.2.6.5. Middle East and Africa (MEA)

5. North America Electric Boats Market

5.1. Market Size & Forecast, 2019-2029
- 5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
- 5.2.1. By Power
- 5.2.2. By Propulsion
- 5.2.3. By Battery Type
- 5.2.4. By Range
- 5.2.5. By Application
- 5.2.6. By Country
  - 5.2.6.1. United States
  - 5.2.6.1.1. By Power
  - 5.2.6.1.2. By Propulsion
  - 5.2.6.1.3. By Battery Type
  - 5.2.6.1.4. By Range
  - 5.2.6.1.5. By Application
  - 5.2.6.2. Canada
  - 5.2.6.2.1. By Power
  - 5.2.6.2.2. By Propulsion
  - 5.2.6.2.3. By Battery Type
  - 5.2.6.2.4. By Range
  - 5.2.6.2.5. By Application

6. Europe Electric Boats Market

6.1. Market Size & Forecast, 2019-2029
- 6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
- 6.2.1. By Power
- 6.2.2. By Propulsion
- 6.2.3. By Battery Type
- 6.2.4. By Range
- 6.2.5. By Application
- 6.2.6. By Country
  - 6.2.6.1. Germany
  - 6.2.6.1.1. By Power
  - 6.2.6.1.2. By Propulsion
  - 6.2.6.1.3. By Battery Type
  - 6.2.6.1.4. By Range
  - 6.2.6.1.5. By Application
  - 6.2.6.2. United Kingdom
  - 6.2.6.2.1. By Power
  - 6.2.6.2.2. By Propulsion
  - 6.2.6.2.3. By Battery Type
  - 6.2.6.2.4. By Range
  - 6.2.6.2.5. By Application
  - 6.2.6.3. Italy
  - 6.2.6.3.1. By Power
  - 6.2.6.3.2. By Propulsion
  - 6.2.6.3.3. By Battery Type
  - 6.2.6.3.4. By Range
  - 6.2.6.3.5. By Application
  - 6.2.6.4. France
  - 6.2.6.4.1. By Power
  - 6.2.6.4.2. By Propulsion
  - 6.2.6.4.3. By Battery Type
  - 6.2.6.4.4. By Range
  - 6.2.6.4.5. By Application
  - 6.2.6.5. Spain
  - 6.2.6.5.1. By Power
  - 6.2.6.5.2. By Propulsion
  - 6.2.6.5.3. By Battery Type
  - 6.2.6.5.4. By Range
  - 6.2.6.5.5. By Application
  - 6.2.6.6. Belgium
  - 6.2.6.6.1. By Power
  - 6.2.6.6.2. By Propulsion
  - 6.2.6.6.3. By Battery Type
  - 6.2.6.6.4. By Range
  - 6.2.6.6.5. By Application
  - 6.2.6.7. Russia
  - 6.2.6.7.1. By Power
  - 6.2.6.7.2. By Propulsion
  - 6.2.6.7.3. By Battery Type
  - 6.2.6.7.4. By Range
  - 6.2.6.7.5. By Application
  - 6.2.6.8. The Netherlands
  - 6.2.6.8.1. By Power
  - 6.2.6.8.2. By Propulsion
  - 6.2.6.8.3. By Battery Type
  - 6.2.6.8.4. By Range
  - 6.2.6.8.5. By Application
  - 6.2.6.9. Rest of Europe
  - 6.2.6.9.1. By Power
  - 6.2.6.9.2. By Propulsion
  - 6.2.6.9.3. By Battery Type
  - 6.2.6.9.4. By Range
  - 6.2.6.9.5. By Application

7. Asia-Pacific Electric Boats Market

7.1. Market Size & Forecast, 2019-2029
- 7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
- 7.2.1. By Power
- 7.2.2. By Propulsion
- 7.2.3. By Battery Type
- 7.2.4. By Range
- 7.2.5. By Application
- 7.2.6. By Country
  - 7.2.6.1. China
  - 7.2.6.1.1. By Power
  - 7.2.6.1.2. By Propulsion
  - 7.2.6.1.3. By Battery Type
  - 7.2.6.1.4. By Range
  - 7.2.6.1.5. By Application
  - 7.2.6.2. India
  - 7.2.6.2.1. By Power
  - 7.2.6.2.2. By Propulsion
  - 7.2.6.2.3. By Battery Type
  - 7.2.6.2.4. By Range
  - 7.2.6.2.5. By Application
  - 7.2.6.3. Japan
  - 7.2.6.3.1. By Power
  - 7.2.6.3.2. By Propulsion
  - 7.2.6.3.3. By Battery Type
  - 7.2.6.3.4. By Range
  - 7.2.6.3.5. By Application
  - 7.2.6.4. South Korea
  - 7.2.6.4.1. By Power
  - 7.2.6.4.2. By Propulsion
  - 7.2.6.4.3. By Battery Type
  - 7.2.6.4.4. By Range
  - 7.2.6.4.5. By Application
  - 7.2.6.5. Australia & New Zealand
  - 7.2.6.5.1. By Power
  - 7.2.6.5.2. By Propulsion
  - 7.2.6.5.3. By Battery Type
  - 7.2.6.5.4. By Range
  - 7.2.6.5.5. By Application
  - 7.2.6.6. Indonesia
  - 7.2.6.6.1. By Power
  - 7.2.6.6.2. By Propulsion
  - 7.2.6.6.3. By Battery Type
  - 7.2.6.6.4. By Range
  - 7.2.6.6.5. By Application
  - 7.2.6.7. Malaysia
  - 7.2.6.7.1. By Power
  - 7.2.6.7.2. By Propulsion
  - 7.2.6.7.3. By Battery Type
  - 7.2.6.7.4. By Range
  - 7.2.6.7.5. By Application
  - 7.2.6.8. Singapore
  - 7.2.6.8.1. By Power
  - 7.2.6.8.2. By Propulsion
  - 7.2.6.8.3. By Battery Type
  - 7.2.6.8.4. By Range
  - 7.2.6.8.5. By Application
  - 7.2.6.9. Vietnam
  - 7.2.6.9.1. By Power
  - 7.2.6.9.2. By Propulsion
  - 7.2.6.9.3. By Battery Type
  - 7.2.6.9.4. By Range
  - 7.2.6.9.5. By Application
  - 7.2.6.10. Rest of APAC
  - 7.2.6.10.1. By Power
  - 7.2.6.10.2. By Propulsion
  - 7.2.6.10.3. By Battery Type
  - 7.2.6.10.4. By Range
  - 7.2.6.10.5. By Application

8. Latin America Electric Boats Market

8.1. Market Size & Forecast, 2019-2029
- 8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
- 8.2.1. By Power
- 8.2.2. By Propulsion
- 8.2.3. By Battery Type
- 8.2.4. By Range
- 8.2.5. By Application
- 8.2.6. By Country
  - 8.2.6.1. Brazil
  - 8.2.6.1.1. By Power
  - 8.2.6.1.2. By Propulsion
  - 8.2.6.1.3. By Battery Type
  - 8.2.6.1.4. By Range
  - 8.2.6.1.5. By Application
  - 8.2.6.2. Mexico
  - 8.2.6.2.1. By Power
  - 8.2.6.2.2. By Propulsion
  - 8.2.6.2.3. By Battery Type
  - 8.2.6.2.4. By Range
  - 8.2.6.2.5. By Application
  - 8.2.6.3. Argentina
  - 8.2.6.3.1. By Power
  - 8.2.6.3.2. By Propulsion
  - 8.2.6.3.3. By Battery Type
  - 8.2.6.3.4. By Range
  - 8.2.6.3.5. By Application
  - 8.2.6.4. Peru
  - 8.2.6.4.1. By Power
  - 8.2.6.4.2. By Propulsion
  - 8.2.6.4.3. By Battery Type
  - 8.2.6.4.4. By Range
  - 8.2.6.4.5. By Application
  - 8.2.6.5. Rest of LATAM
  - 8.2.6.5.1. By Power
  - 8.2.6.5.2. By Propulsion
  - 8.2.6.5.3. By Battery Type
  - 8.2.6.5.4. By Range
  - 8.2.6.5.5. By Application

9. Middle East & Africa Electric Boats Market

9.1. Market Size & Forecast, 2019-2029
- 9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
- 9.2.1. By Power
- 9.2.2. By Propulsion
- 9.2.3. By Battery Type
- 9.2.4. By Range
- 9.2.5. By Application
- 9.2.6. By Country
  - 9.2.6.1. Saudi Arabia
  - 9.2.6.1.1. By Power
  - 9.2.6.1.2. By Propulsion
  - 9.2.6.1.3. By Battery Type
  - 9.2.6.1.4. By Range
  - 9.2.6.1.5. By Application
  - 9.2.6.2. UAE
  - 9.2.6.2.1. By Power
  - 9.2.6.2.2. By Propulsion
  - 9.2.6.2.3. By Battery Type
  - 9.2.6.2.4. By Range
  - 9.2.6.2.5. By Application
  - 9.2.6.3. Qatar
  - 9.2.6.3.1. By Power
  - 9.2.6.3.2. By Propulsion
  - 9.2.6.3.3. By Battery Type
  - 9.2.6.3.4. By Range
  - 9.2.6.3.5. By Application
  - 9.2.6.4. Kuwait
  - 9.2.6.4.1. By Power
  - 9.2.6.4.2. By Propulsion
  - 9.2.6.4.3. By Battery Type
  - 9.2.6.4.4. By Range
  - 9.2.6.4.5. By Application
  - 9.2.6.5. South Africa
  - 9.2.6.5.1. By Power
  - 9.2.6.5.2. By Propulsion
  - 9.2.6.5.3. By Battery Type
  - 9.2.6.5.4. By Range
  - 9.2.6.5.5. By Application
  - 9.2.6.6. Nigeria
  - 9.2.6.6.1. By Power
  - 9.2.6.6.2. By Propulsion
  - 9.2.6.6.3. By Battery Type
  - 9.2.6.6.4. By Range
  - 9.2.6.6.5. By Application
  - 9.2.6.7. Algeria
  - 9.2.6.7.1. By Power
  - 9.2.6.7.2. By Propulsion
  - 9.2.6.7.3. By Battery Type
  - 9.2.6.7.4. By Range
  - 9.2.6.7.5. By Application
  - 9.2.6.8. Rest of MEA
  - 9.2.6.8.1. By Power
  - 9.2.6.8.2. By Propulsion
  - 9.2.6.8.3. By Battery Type
  - 9.2.6.8.4. By Range
  - 9.2.6.8.5. By Application

10. Competitive Landscape

10.1. List of Key Players and Their Offerings
10.2. Global Electric Boats Company Market Share Analysis, 2022
10.3. Competitive Benchmarking, By Operating Parameters
10.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)

11. Impact of Covid-19 on Global Electric Boats Market

12. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)

12.1. ABB LTD
12.2. Greenline Yachts
12.3. Vision Marine Technologies Inc.
12.4. Duffy Electric Boat Company
12.5. RAND Boats Ap
12.6. Corvus Energy
12.7. Frauscher Bootswerft GmbH & Co KG
12.8. Boote Marian GmbH
12.9. Grove Boats SA
12.10. Boesch Motorboote AG
12.11. Torqeedo GmbH
12.12. Soel Yachts B.V.
12.13. Echandia Group AB
12.14. Candela Technology AB
12.15. Yamaha Motor Co., Ltd.
12.16. Other Prominent Players

13. Key Strategic Recommendations

14. Research Methodology

14.1. Qualitative Research
- 14.1.1. Primary & Secondary Research
14.2. Quantitative Research
14.3. Market Breakdown & Data Triangulation
- 14.3.1. Secondary Research
- 14.3.2. Primary Research
14.4. Breakdown of Primary Research Respondents, By Region
14.5. Assumptions & Limitations