Electric Boats & Ships Market - Global Electric Boats & Ships Industry Analysis, Size, Share, Growth, Trends, and Forecast 2025-2032 - (By Propulsion Type, By Battery Type, By Carriage Type, By Geographic Coverage and By Company)

Description

The global Electric Boats & Ships Market is entering a pivotal growth phase as maritime industries accelerate the shift toward sustainable propulsion technologies. With tightening global emission standards, expanding investments in eco-friendly marine transport, and rapid technological advancements in battery systems, electric vessels are gaining widespread adoption across both commercial and recreational segments. The market is projected to grow from USD 8.4 billion in 2025 to USD 19.0 billion by 2032, advancing at a strong 12.4% CAGR, demonstrating the industry's accelerating transition toward clean maritime mobility.

Market Insights

Electric propulsion is increasingly recognized as an essential solution for the maritime sector's decarbonization efforts. Continuous improvements in lithium-ion batteries, power electronics, thermal management, and hybrid propulsion architectures are expanding the range, safety, and operational efficiency of electric vessels. Hybrid-electric boats are particularly gaining traction for ferries, patrol vessels, tugboats, and utility crafts, while fully electric vessels are emerging prominently in short-distance passenger transport, leisure boats, and harbor applications. Investments in fast-charging systems, shore-to-ship power integration, and smart port electrification further strengthen market momentum.

Drivers

Stringent environmental regulations enforced by the International Maritime Organization (IMO) and national governments remain the primary growth catalyst. Rising pressure to reduce CO2, NOx, SOx, and particulate emissions is compelling shipbuilders, port authorities, and fleet operators to transition toward hybrid and fully electric marine systems. The growing demand for cost-efficient vessel operations, reduced fuel consumption, and lower lifecycle maintenance strengthens adoption across diverse vessel categories. Technological advancements in lithium-ion batteries-characterized by higher energy density, improved safety, and longer operational lifespans-also serve as significant enablers. Additionally, increasing fuel prices and the rising popularity of electric recreational boats contribute to sustained market expansion.

Business Opportunity

The Electric Boats & Ships Market presents strong opportunities for shipbuilders, battery suppliers, software developers, marine OEMs, and port operators. Expanding applications of electric propulsion in autonomous boats, passenger ferries, cargo vessels, and coastal surveillance create substantial innovation potential. Battery management systems, onboard energy-efficiency solutions, hybrid powertrains, and marine charging infrastructure represent high-value investment areas. Companies investing in green port initiatives, electric fleet conversions, and advanced marine battery services stand to gain significant long-term competitive advantages. The increasing demand for sustainable tourism and waterway transport also opens new opportunities in emerging economies.

Region Analysis

Europe maintains leadership, supported by strong regulatory frameworks, widespread adoption of electric ferries, and advanced maritime electrification programs across Nordic countries. Government incentives and major pilot deployments in Norway, Finland, and Denmark continue to boost the region's dominance.

North America demonstrates rapid adoption driven by electric recreational boats, hybrid tugboats, and port electrification initiatives across the U.S. and Canada. Rising awareness regarding clean maritime mobility and increasing private-sector investments further strengthen growth.

Asia Pacific showcases strong potential with large-scale shipbuilding capabilities, rising maritime trade, and government-backed decarbonization commitments. China, Japan, and South Korea are leading the development of electric cargo vessels, harbor crafts, and next-generation battery technologies.

Latin America and Middle East & Africa are steadily adopting electric marine systems due to tourism expansion, port modernization projects, and growing interest in sustainable coastal transport.

Key Players

Vision Marine Technologies Inc.
Kongsberg
Siemens AG
Leclanche S.A.
Wartsila
Navalt, Inc.
ABB Ltd.
Grove Boats SA
Yara International ASA
Hyundai Heavy Industries (Hyundai Electric Limited)
GE Power Conversion (GE Vernova)

Global Electric Boats & Ships Market Segmentation

By Propulsion Type

Hybrid
Pure Electric

By Battery Type

Lead-acid
Lithium-ion
Nickel-based

By Carriage Type

Passenger
Cargo

By Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

1. Executive Summary

1.1. Global Electric Boats & Ships Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2025
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. Covid-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Electric Boats & Ships Market Outlook, 2019-2032

3.1. Global Electric Boats & Ships Market Outlook, by Propulsion Type, Value (US$ Bn), 2019-2032
- 3.1.1. Key Highlights
  - 3.1.1.1. Hybrid
  - 3.1.1.2. Pure Electric
3.2. Global Electric Boats & Ships Market Outlook, by Battery Type, Value (US$ Bn), 2019-2032
- 3.2.1. Key Highlights
  - 3.2.1.1. Lead-acid
  - 3.2.1.2. Lithium-ion
  - 3.2.1.3. Nickel-based Batteries
3.3. Global Electric Boats & Ships Market Outlook, by Carriage Type, Value (US$ Bn), 2019-2032
- 3.3.1. Key Highlights
  - 3.3.1.1. Passenger
  - 3.3.1.2. Cargo
3.4. Global Electric Boats & Ships Market Outlook, by Region, Value (US$ Bn), 2019-2032
- 3.4.1. Key Highlights
  - 3.4.1.1. North America
  - 3.4.1.2. Europe
  - 3.4.1.3. Asia Pacific
  - 3.4.1.4. Latin America
  - 3.4.1.5. Middle East & Africa

4. North America Electric Boats & Ships Market Outlook, 2019-2032

4.1. North America Electric Boats & Ships Market Outlook, by Propulsion Type, Value (US$ Bn), 2019-2032
- 4.1.1. Key Highlights
  - 4.1.1.1. Hybrid
  - 4.1.1.2. Pure Electric
4.2. North America Electric Boats & Ships Market Outlook, by Battery Type, Value (US$ Bn), 2019-2032
- 4.2.1. Key Highlights
  - 4.2.1.1. Lead-acid
  - 4.2.1.2. Lithium-ion
  - 4.2.1.3. Nickel-based Batteries
4.3. North America Electric Boats & Ships Market Outlook, by Carriage Type, Value (US$ Bn), 2019-2032
- 4.3.1. Key Highlights
  - 4.3.1.1. Passenger
  - 4.3.1.2. Cargo
- 4.3.2. Market Attractiveness Analysis
4.4. North America Electric Boats & Ships Market Outlook, by Country, Value (US$ Bn), 2019-2032
- 4.4.1. Key Highlights
  - 4.4.1.1. U.S. Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 4.4.1.2. U.S. Electric Boats & Ships Market Battery Type, Value (US$ Bn), 2019-2032
  - 4.4.1.3. U.S. Electric Boats & Ships Market Carriage Type, Value (US$ Bn), 2019-2032
  - 4.4.1.4. Canada Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 4.4.1.5. Canada Electric Boats & Ships Market Battery Type, Value (US$ Bn), 2019-2032
  - 4.4.1.6. Canada Electric Boats & Ships Market Carriage Type, Value (US$ Bn), 2019-2032
- 4.4.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Electric Boats & Ships Market Outlook, 2019-2032

5.1. Europe Electric Boats & Ships Market Outlook, by Propulsion Type, Value (US$ Bn), 2019-2032
- 5.1.1. Key Highlights
  - 5.1.1.1. Hybrid
  - 5.1.1.2. Pure Electric
5.2. Europe Electric Boats & Ships Market Outlook, by Battery Type, Value (US$ Bn), 2019-2032
- 5.2.1. Key Highlights
  - 5.2.1.1. Lead-acid
  - 5.2.1.2. Lithium-ion
  - 5.2.1.3. Nickel-based Batteries
5.3. Europe Electric Boats & Ships Market Outlook, by Carriage Type, Value (US$ Bn), 2019-2032
- 5.3.1. Key Highlights
  - 5.3.1.1. Passenger
  - 5.3.1.2. Cargo
- 5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Europe Electric Boats & Ships Market Outlook, by Country, Value (US$ Bn), 2019-2032
- 5.4.1. Key Highlights
  - 5.4.1.1. Germany Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 5.4.1.2. Germany Electric Boats & Ships Market Battery Type, Value (US$ Bn), 2019-2032
  - 5.4.1.3. Germany Electric Boats & Ships Market Carriage Type, Value (US$ Bn), 2019-2032
  - 5.4.1.4. U.K. Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 5.4.1.5. U.K. Electric Boats & Ships Market Battery Type, Value (US$ Bn), 2019-2032
  - 5.4.1.6. U.K. Electric Boats & Ships Market Carriage Type, Value (US$ Bn), 2019-2032
  - 5.4.1.7. France Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 5.4.1.8. France Electric Boats & Ships Market Battery Type, Value (US$ Bn), 2019-2032
  - 5.4.1.9. France Electric Boats & Ships Market Carriage Type, Value (US$ Bn), 2019-2032
  - 5.4.1.10. Italy Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 5.4.1.11. Italy Electric Boats & Ships Market Battery Type, Value (US$ Bn), 2019-2032
  - 5.4.1.12. Italy Electric Boats & Ships Market Carriage Type, Value (US$ Bn), 2019-2032
  - 5.4.1.13. Norway Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 5.4.1.14. Norway Electric Boats & Ships Market Battery Type, Value (US$ Bn), 2019-2032
  - 5.4.1.15. Norway Electric Boats & Ships Market Carriage Type, Value (US$ Bn), 2019-2032
  - 5.4.1.16. Russia Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 5.4.1.17. Russia Electric Boats & Ships Market Battery Type, Value (US$ Bn), 2019-2032
  - 5.4.1.18. Russia Electric Boats & Ships Market Carriage Type, Value (US$ Bn), 2019-2032
  - 5.4.1.19. Rest of Europe Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 5.4.1.20. Rest of Europe Electric Boats & Ships Market Battery Type, Value (US$ Bn), 2019-2032
  - 5.4.1.21. Rest of Europe Electric Boats & Ships Market Carriage Type, Value (US$ Bn), 2019-2032
- 5.4.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Electric Boats & Ships Market Outlook, 2019-2032

6.1. Asia Pacific Electric Boats & Ships Market Outlook, by Propulsion Type, Value (US$ Bn), 2019-2032
- 6.1.1. Key Highlights
  - 6.1.1.1. Hybrid
  - 6.1.1.2. Pure Electric
6.2. Asia Pacific Electric Boats & Ships Market Outlook, by Battery Type, Value (US$ Bn), 2019-2032
- 6.2.1. Key Highlights
  - 6.2.1.1. Lead-acid
  - 6.2.1.2. Lithium-ion
  - 6.2.1.3. Nickel-based Batteries
6.3. Asia Pacific Electric Boats & Ships Market Outlook, by Carriage Type, Value (US$ Bn), 2019-2032
- 6.3.1. Key Highlights
  - 6.3.1.1. Passenger
  - 6.3.1.2. Cargo
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Asia Pacific Electric Boats & Ships Market Outlook, by Country, Value (US$ Bn), 2019-2032
- 6.4.1. Key Highlights
  - 6.4.1.1. China Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 6.4.1.2. China Electric Boats & Ships Market Battery Type, Value (US$ Bn), 2019-2032
  - 6.4.1.3. China Electric Boats & Ships Market Carriage Type, Value (US$ Bn), 2019-2032
  - 6.4.1.4. Japan Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 6.4.1.5. Japan Electric Boats & Ships Market by Battery Type, Value (US$ Bn), 2019-2032
  - 6.4.1.6. Japan Electric Boats & Ships Market by Carriage Type, Value (US$ Bn), 2019-2032
  - 6.4.1.7. South Korea Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 6.4.1.8. South Korea Electric Boats & Ships Market by Battery Type, Value (US$ Bn), 2019-2032
  - 6.4.1.9. South Korea Electric Boats & Ships Market by Carriage Type, Value (US$ Bn), 2019-2032
  - 6.4.1.10. India Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 6.4.1.11. India Electric Boats & Ships Market by Battery Type, Value (US$ Bn), 2019-2032
  - 6.4.1.12. India Electric Boats & Ships Market by Carriage Type, Value (US$ Bn), 2019-2032
  - 6.4.1.13. Southeast Asia Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 6.4.1.14. Southeast Asia Electric Boats & Ships Market by Battery Type, Value (US$ Bn), 2019-2032
  - 6.4.1.15. Southeast Asia Electric Boats & Ships Market by Carriage Type, Value (US$ Bn), 2019-2032
  - 6.4.1.16. Rest of Asia Pacific Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 6.4.1.17. Rest of Asia Pacific Electric Boats & Ships Market by Battery Type, Value (US$ Bn), 2019-2032
  - 6.4.1.18. Rest of Asia Pacific Electric Boats & Ships Market by Carriage Type, Value (US$ Bn), 2019-2032
- 6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Electric Boats & Ships Market Outlook, 2019-2032

7.1. Latin America Electric Boats & Ships Market Outlook, by Propulsion Type, Value (US$ Bn), 2019-2032
- 7.1.1. Key Highlights
  - 7.1.1.1. Hybrid
  - 7.1.1.2. Pure Electric
7.2. Latin America Electric Boats & Ships Market Outlook, by Battery Type, Value (US$ Bn), 2019-2032
- 7.1.2. Key Highlights
  - 7.2.1.1. Lead-acid
  - 7.2.1.2. Lithium-ion
  - 7.2.1.3. Nickel-based Batteries
7.3. Latin America Electric Boats & Ships Market Outlook, by Carriage Type, Value (US$ Bn), 2019-2032
- 7.1.3. Key Highlights
  - 7.3.1.1. Passenger
  - 7.3.1.2. Cargo
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Latin America Electric Boats & Ships Market Outlook, by Country, Value (US$ Bn), 2019-2032
- 7.4.1. Key Highlights
  - 7.4.1.1. Brazil Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 7.4.1.2. Brazil Electric Boats & Ships Market by Battery Type, Value (US$ Bn), 2019-2032
  - 7.4.1.3. Brazil Electric Boats & Ships Market by Carriage Type, Value (US$ Bn), 2019-2032
  - 7.4.1.4. Mexico Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 7.4.1.5. Mexico Electric Boats & Ships Market by Battery Type, Value (US$ Bn), 2019-2032
  - 7.4.1.6. Mexico Electric Boats & Ships Market by Carriage Type, Value (US$ Bn), 2019-2032
  - 7.4.1.7. Rest of Latin America Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 7.4.1.8. Rest of Latin America Electric Boats & Ships Market by Battery Type, Value (US$ Bn), 2019-2032
  - 7.4.1.9. Rest of Latin America Electric Boats & Ships Market by Carriage Type, Value (US$ Bn), 2019-2032
- 7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Electric Boats & Ships Market Outlook, 2019-2032

8.1. Middle East & Africa Electric Boats & Ships Market Outlook, by Propulsion Type, Value (US$ Bn), 2019-2032
- 8.1.1. Key Highlights
  - 8.1.1.1. Hybrid
  - 8.1.1.2. Pure Electric
8.2. Middle East & Africa Electric Boats & Ships Market Outlook, by Battery Type, Value (US$ Bn), 2019-2032
- 8.2.1. Key Highlights
  - 8.2.1.1. Lead-acid
  - 8.2.1.2. Lithium-ion
  - 8.2.1.3. Nickel-based Batteries
8.3. Middle East & Africa Electric Boats & Ships Market Outlook, by Carriage Type, Value (US$ Bn), 2019-2032
- 8.3.1. Key Highlights
  - 8.3.1.1. Passenger
  - 8.3.1.2. Cargo
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Middle East & Africa Electric Boats & Ships Market Outlook, by Country, Value (US$ Bn), 2019-2032
- 8.4.1. Key Highlights
  - 8.4.1.1. GCC Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 8.4.1.2. GCC Electric Boats & Ships Market by Battery Type, Value (US$ Bn), 2019-2032
  - 8.4.1.3. GCC Electric Boats & Ships Market by Carriage Type, Value (US$ Bn), 2019-2032
  - 8.4.1.4. South Africa Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 8.4.1.5. South Africa Electric Boats & Ships Market by Battery Type, Value (US$ Bn), 2019-2032
  - 8.4.1.6. South Africa Electric Boats & Ships Market by Carriage Type, Value (US$ Bn), 2019-2032
  - 8.4.1.7. Rest of Middle East & Africa Electric Boats & Ships Market by Propulsion Type, Value (US$ Bn), 2019-2032
  - 8.4.1.8. Rest of Middle East & Africa Electric Boats & Ships Market by Battery Type, Value (US$ Bn), 2019-2032
  - 8.4.1.9. Rest of Middle East & Africa Electric Boats & Ships Market by Carriage Type, Value (US$ Bn), 2019-2032
- 8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Product vs Carriage Type Heatmap
9.2. Manufacturer vs Carriage Type Heatmap
9.3. Company Market Share Analysis, 2025
9.4. Competitive Dashboard
9.5. Company Profiles
- 9.5.1. Vision Marine Technologies Inc.
  - 9.5.1.1. Company Overview
  - 9.5.1.2. Product Portfolio
  - 9.5.1.3. Financial Overview
  - 9.5.1.4. Business Strategies and Development
- 9.5.2. Kongsberg
  - 9.5.2.1. Company Overview
  - 9.5.2.2. Product Portfolio
  - 9.5.2.3. Financial Overview
  - 9.5.2.4. Business Strategies and Development
- 9.5.3. Siemens AG
  - 9.5.3.1. Company Overview
  - 9.5.3.2. Product Portfolio
  - 9.5.3.3. Financial Overview
  - 9.5.3.4. Business Strategies and Development
- 9.5.4. Leclanche S.A.
  - 9.5.4.1. Company Overview
  - 9.5.4.2. Product Portfolio
  - 9.5.4.3. Financial Overview
  - 9.5.4.4. Business Strategies and Development
- 9.5.5. Wartsila
  - 9.5.5.1. Company Overview
  - 9.5.5.2. Product Portfolio
  - 9.5.5.3. Financial Overview
  - 9.5.5.4. Business Strategies and Development
- 9.5.6. Navalt, Inc.
  - 9.5.6.1. Company Overview
  - 9.5.6.2. Product Portfolio
  - 9.5.6.3. Financial Overview
  - 9.5.6.4. Business Strategies and Development
- 9.5.7. ABB Ltd
  - 9.5.7.1. Company Overview
  - 9.5.7.2. Product Portfolio
  - 9.5.7.3. Financial Overview
  - 9.5.7.4. Business Strategies and Development
- 9.5.8. Grove Boats SA
  - 9.5.8.1. Company Overview
  - 9.5.8.2. Product Portfolio
  - 9.5.8.3. Financial Overview
  - 9.5.8.4. Business Strategies and Development
- 9.5.9. Yara International ASA
  - 9.5.9.1. Company Overview
  - 9.5.9.2. Product Portfolio
  - 9.5.9.3. Financial Overview
  - 9.5.9.4. Business Strategies and Development
- 9.5.10. Hyundai Heavy Industries (Hyundai Electric Limited)
  - 9.5.10.1. Company Overview
  - 9.5.10.2. Product Portfolio
  - 9.5.10.3. Financial Overview
  - 9.5.10.4. Business Strategies and Development
- 9.5.11. GE Power Conversion, part of GE Vernova
  - 9.5.11.1. Company Overview
  - 9.5.11.2. Product Portfolio
  - 9.5.11.3. Financial Overview
  - 9.5.11.4. Business Strategies and Development

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations