Asia-Pacific Electric Boat Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Boat Type (Pure Electric and Hybrid), Battery Type (Nickel Based, Lead Acid, and Lithium-ion), and Application (Fishing, Recreational, and Others)

List of Tables

The Asia-Pacific Electric Boat market is expected to grow from US$ 460.63 million in 2022 to US$ 947.92 million by 2028. It is estimated to grow at a CAGR of 12.8% from 2022 to 2028.

Rising Inclination Toward Solar-Electric Boats is Driving APAC Electric Boat Market

Solar-electric boats have numerous benefits, including less maintenance requirement due to no oil change, impeller change, or diesel filter change; fewer vibrations; good fuel economy; avoiding local contamination; and a decrease in the boats' overall weight. Solar energy helps control the flow of electricity to rechargeable batteries such as Lithium-ion. Further, solar-electric boats can run at low operational costs, which makes them the most preferred option for users compared to fuel-based boats wherein there is high need for regular maintenance. These benefits are expected to bolster the demand for solar-electric boats in the coming years.

A diesel boat purchase cost is approximately US$ 2,500 for fishing activities, lower compared to electric boats. However, the operational diesel-based boat costs them around ~US$ 3,000-4,000 annually, as the rising fuel prices right now. The solar-electric boat would cost user around US$ 21,000 to 25,000 at one time, which is the price without any government subsidy that can be recovered in a span of four to five years, with lower operational costs. Furthermore, the rising product development in solar boat manufacturing is supporting market growth. Thus, the manufacturers growing inclination towards developing solar-electric boats is anticipated to provide new growth opportunities for APAC electric boat market growth.

APAC Electric Boat Market Overview

The APAC electric boat market growth is mainly driven by the flourishing marine tourism industry across Asian countries such as Singapore, China, Thailand, the Philippines, and Vietnam. The electric boat market in Asia Pacific is estimated to grow at the fastest pace during the forecast period. Stringent rules for emission control and the rising adoption of speedboats are expected to bolster the growth of the market in this region in the coming years. In June 2020, the Chinese Ministry of Transport (MOT) announced its strategic development guidelines and targets for inland waterway transportation until 2050. Decarbonization initiatives-coupled with the rising demand for waterborne transportation, especially across China, Thailand, Vietnam, and Indonesia-are expected to boost the adoption of electric boats in APAC in the future.

APAC Electric Boat Market Revenue and Forecast to 2028 (US$ Million)

APAC Electric Boat Market Segmentation

The APAC electric boat market is segmented into boat type, battery type, application, and country. Based on boat type, the market is segmented into pure electric and hybrid segment. The pure electric segment registered a larger market share in 2022.

Based on type, the APAC electric boat market is segmented into nickel based, lead acid, and lithium-ion. The lithium-ion segment registered the largest market share in 2022. Based on application, the APAC electric boat market is segmented into fishing, recreational, and others. The recreational segment registered the largest market share in 2022. Based on country, the APAC electric boat market is segmented into China, Japan, India, South Korea, Australia, and the Rest of APAC. The Rest of APAC dominated the market share in 2022. Aquawatt Mechatronik und Yachtbau; Candela Technology AB; Duffy Electric Boat Company; Frauscher Bootswerft GmbH & Co KG; Quadrofoil D.O.O; and Vision Marine Technologies Inc are the leading companies operating in the APAC electric boat market.

Reasons to Buy:

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the APAC electric boat market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the APAC electric boat market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the electric boat market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

Product Code: BMIRE00027811

1. Introduction

1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. APAC Electric Boat Market Landscape

4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion

5. APAC Electric Boat Market- Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Stringent Government Regulations for Controlling Greenhouse Gas Emissions
- 5.1.2 Increasing Network for Charging Points in Marine Infrastructure for Small Boats
5.2 Market Restraints
- 5.2.1 High Cost of Batteries and Range Limitations
5.3 Market Opportunities
- 5.3.1 Increasing Installation of Superchargers at Smaller Ports
5.4 Future Trends
- 5.4.1 Rising Inclination Toward Solar-Electric Boats
5.5 Impact Analysis of Drivers and Restraints

6. Electric Boat Market- APAC Market Analysis

6.1 APAC Electric Boat Market Overview
6.2 APAC Electric Boat Market Forecast and Analysis

7. APAC Electric Boat Market Revenue and Forecast to 2028 - Boat Type

7.1 Overview
7.2 APAC Electric Boat Market, By Boat Type (2021 And 2028)
7.3 Pure Electric
- 7.3.1 Overview
- 7.3.2 Pure Electric: Electric Boat Market Revenue and Forecast To 2028 (US$ Million)
7.4 Hybrid
- 7.4.1 Overview
- 7.4.2 Hybrid: Electric Boat Market Revenue and Forecast To 2028 (US$ Million)

8. APAC Electric Boat Market Revenue and Forecast to 2028 - Battery Type

8.1 Overview
8.2 APAC Electric Boat Market, By Battery Type (2021 And 2028)
8.3 Nickel Based
- 8.3.1 Overview
- 8.3.2 Nickel Based: Electric Boat Market Revenue and Forecast To 2028 (US$ Million)
8.4 Lead Acid
- 8.4.1 Overview
- 8.4.2 Lead Acid: Electric Boat Market Revenue and Forecast To 2028 (US$ Million)
8.5 Lithium-ion
- 8.5.1 Overview
- 8.5.2 Lithium-ion: Electric Boat Market Revenue and Forecast To 2028 (US$ Million)

9. APAC Electric Boat Market - By Application

9.1 Overview
9.2 APAC Electric Boat Market, by Application (2021 and 2028)
9.3 Fishing
- 9.3.1 Overview
- 9.3.2 Fishing: Electric Boat Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Recreational
- 9.4.1 Overview
- 9.4.2 Recreational: Electric Boat Market - Revenue and Forecast to 2028 (US$ Million)
9.5 Others
- 9.5.1 Overview
- 9.5.2 Others: Electric Boat Market - Revenue and Forecast to 2028 (US$ Million)

10. APAC Electric Boat Market- Country Analysis

10.1 Overview
- 10.1.1 Asia Pacific: Electric Boat Market, by Key Country
  - 10.1.1.1 Australia: Electric Boat Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.1.1 Australia: Electric Boat Market, By Boat Type
    - 10.1.1.1.2 Australia: Electric Boat Market, By Battery Type
    - 10.1.1.1.3 Australia: Electric Boat Market, By Application
  - 10.1.1.2 China: Electric Boat Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.2.1 China: Electric Boat Market, By Boat Type
    - 10.1.1.2.2 China: Electric Boat Market, By Battery Type
    - 10.1.1.2.3 China: Electric Boat Market, By Application
  - 10.1.1.3 India: Electric Boat Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.3.1 India: Electric Boat Market, By Boat Type
    - 10.1.1.3.2 India: Electric Boat Market, By Battery Type
    - 10.1.1.3.3 India: Electric Boat Market, By Application
  - 10.1.1.4 Japan: Electric Boat Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.4.1 Japan: Electric Boat Market, By Boat Type
    - 10.1.1.4.2 Japan: Electric Boat Market, By Battery Type
    - 10.1.1.4.3 Japan: Electric Boat Market, By Application
  - 10.1.1.5 South Korea: Electric Boat Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.5.1 South Korea: Electric Boat Market, By Boat Type
    - 10.1.1.5.2 South Korea: Electric Boat Market, By Battery Type
    - 10.1.1.5.3 South Korea: Electric Boat Market, By Application
  - 10.1.1.6 Rest of APAC: Electric Boat Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.6.1 Rest of APAC: Electric Boat Market, By Boat Type
    - 10.1.1.6.2 Rest of APAC: Electric Boat Market, By Battery Type
    - 10.1.1.6.3 Rest of APAC: Electric Boat Market, By Application

11. Industry Landscape

11.1 Overview
11.2 New Product Development

12. Company Profiles

12.1 Frauscher Bootswerft GmbH & Co KG
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 Duffy Electric Boat Company
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Vision Marine Technologies Inc.
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Quadrofoil D.O.O
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Aquawatt Mechatronik und Yachtbau
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 Candela Technology AB
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments

13. Appendix

13.1 About The Insight Partners
13.2 Word Index