Global Electric-Boat Market Size, Share, Growth Analysis, By Propulsion type(Hybrid and pure electric and others), By Battery type(Lead-acid, Lithium-ion), By Carriage type(Passenger and Cargo) - Industry Forecast 2023-2030

Global Electric boats Market size was valued at USD 5 billion in 2021 and is poised to grow from USD 5.64 billion in 2022 to USD 16.6 billion by 2030, growing at a CAGR of 12.9% in the forecast period (2023-2030).

Electric boats are gaining popularity due to their numerous advantages. These advantages include a wide range of charging sources, ample range capabilities, unrestricted usage, compact and lightweight batteries, availability of existing infrastructure on the Quay, quiet operation, zero environmental impact, adaptability and versatility, reduced weight and increased interior space, absence of transmission systems, and compatibility with both inboard and outboard setups.

Furthermore, electric boats contribute to the reduction of water pollution and protect marine life above and below the water's surface. Their propulsion systems emit no harmful substances like carbon monoxide, hydrocarbons, particulate matter, and nitrogen oxides into the atmosphere while the engine is running. By being powered by clean and green energy directly from the grid, electric boat owners have the option to choose renewable electricity, making their vessels more environmentally friendly when compared to combustion engines.

Segments covered in this report:

Global Electric-Boat market is segmented on the basis of Propulsion Type, battery type, carriage type and region. By Propulsion Type, the market is segmented into Hybrid and pure electric and others. By battery type, the market is segmented into Lead-acid, Lithium-ion, and Nickel-based Batteries and others. By carriage type, the market is segmented into Passenger and Cargo. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Driver

The market for electric boats is expected to witness significant growth in the future, primarily due to their environmentally friendly features. Electric boats play a crucial role in reducing water pollution and minimizing harm to marine life above and below the water's surface. The emission-free propulsion of electric boats ensures that harmful substances such as carbon monoxide, hydrocarbons, particulate matter, and nitrogen oxides are not released into the atmosphere while the engine is running.

Electric boats rely on clean and green energy directly from the grid, further enhancing their environmental credentials. Owners of electric boats have the option to power their vessels with renewable electricity, making them a more sustainable choice compared to traditional combustion engines. The positive impact of electric boats on the environment is expected to drive market growth in the coming years.

Restraint

The growth of the electric boat market may be hindered by certain factors, including inadequate infrastructure, limited range, and slower speeds compared to conventionally powered boats. The availability of charging facilities is currently insufficient, which poses a challenge for electric boat owners. Additionally, electric boats often have lower speeds compared to their conventionally powered counterparts.

Another constraint on the market is the higher cost associated with electric boats. The price of electric boards, along with the expenses related to electric propulsion systems, tends to be higher compared to purchasing a comparable model that runs on petrol or diesel. These factors contribute to the slower adoption and growth of the electric boat market.

Market Trends

The electrification of recreational boating has caught the attention of established industry leaders like Brunswick Corp. and Mercury Marine Corp., as well as a range of emerging startups. The market for electric leisure craft is experiencing rapid growth as an increasing number of boat owners actively consider the choice between conventional internal combustion engines (ICEs) and the benefits of a quiet and clean electric drive technologyBranched Stent Grafts Market is segmented based on the type, application and region. Based on type, Branched Stent Grafts Market is segmented into Iliac Stent and Others. Based on application, Branched Stent Grafts Market is segmented into EVAR, FEVAR, chimney, others. Based on Region Branched Stent Grafts Market is categorized into North America; Europe, Asia Pacific, Latin America, Middle East & Africa. Market Driver

Increased EVAR Procedures to Bolster Market

Market Restraints

High Cost to Hinder Market Growth. Abdominal endovascular aneurysm repair (AEVAR), branched endovascular aneurysm repair (BEVAR), and thoracic endovascular aneurysm repair (TEVAR) have all become standard treatments for aneurysms. The majority of people choose these procedures because they are safe, effective, less expensive, and reduce operative time. The success of these procedures is heavily reliant on the use of image guidance techniques such as X-rays.