North America 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 North America electric boat market is expected to grow from US$ 2,415.02 million in 2022 to US$ 5,432.19 million by 2028. It is estimated to grow at a CAGR of 14.5% from 2022 to 2028.

Increasing Network for Charging Points in Marine Infrastructure for Small Boats is Driving the North America Electric Boat Market

Growing tourism and rising fishing activities are expected to boost the demand for electric boats. In addition, the development of speedboats is expected to fuel innovations in charging infrastructure. The average speed of an electric speedboat is around 60 mph (100 km/h). The major focus on electrification of all transportation type is expected to contribute to the demand for electric boats. In addition, the increasing collaboration between market players to build charging stations is a key factor contributing to the growth of the electric boat market. Thus, an increasing number of investments in establishing charging stations at seaports is anticipated to fuel the demand for electric boats during the forecast period.

Market Overview

The US, Canada, and Mexico are among the major countries in North America. Increasing water sports activities and favorable government policies to promote water sport and develop boating infrastructure are among the major factors driving the North America electric boat market growth. During the COVID-19 pandemic, the imposition of restrictions on trade activities and shutdown of manufacturing facilities hampered the market growth in North America. However, from the second half of 2020, the market is witnessing growth due to the reliving of travel bans.

Furthermore, key players in North America are improving the production processes of electric boats and taking several strategic initiatives to increase the penetration of electric boats. For instance, In May 2021, Limestone Boat Company and Vision Marine Technologies, which produces outboard engines, entered a strategic partnership to develop electric outboard motors. Also, the partnership aims to increase production from 400 to 510 powerboats by the end of 2022. In March 2022, Aqua superPower and X Shore, a Swedish climate technology company and electric boat manufacturer, announced a strategic alliance to expedite electric boat adoption across the region and provide an accessible app to 150 kW superchargers specifically engineered and rated to use in marine environments. Such initiatives fuel the North America electric boat market growth.

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

North America Electric Boat Market Segmentation

The North America 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 North America 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 North America electric boat market is segmented into fishing, recreational, and others. The recreational segment registered the largest market share in 2022.

Based on country, the market is segmented into the US, Canada, and Mexico. The US dominated the market share in 2022.

Budsin Wood Craft; Candela Technology AB; Duffy Electric Boat Company; Frauscher Bootswerft GmbH & Co KG; LTS Marine; Quadrofoil D.O.O; RAND Boats; Ruban Bleu; and Vision Marine Technologies Inc. are the leading companies operating in the electric boat market in the region.

Reasons to Buy:

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America 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 North America 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 North America 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: BMIRE00027829

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. North America Electric Boat Market Landscape

4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion

5. North America 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- North America Market Analysis

6.1 North America Electric Boat Market Overview
6.2 North America Electric Boat Market Forecast and Analysis

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

7.1 Overview
7.2 North America 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. North America Electric Boat Market Revenue and Forecast to 2028 - Battery Type

8.1 Overview
8.2 North America 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. North America Electric Boat Market - By Application

9.1 Overview
9.2 North America 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. North America Electric Boat Market- Country Analysis

10.1 Overview
- 10.1.1 North America: Electric Boat Market, by Key Country
  - 10.1.1.1 US: Electric Boat Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.1.1 US: Electric Boat Market, By Boat Type
    - 10.1.1.1.2 US: Electric Boat Market, By Battery Type
    - 10.1.1.1.3 US: Electric Boat Market, By Application
  - 10.1.1.2 Canada: Electric Boat Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.2.1 Canada: Electric Boat Market, By Boat Type
    - 10.1.1.2.2 Canada: Electric Boat Market, By Battery Type
    - 10.1.1.2.3 Canada: Electric Boat Market, By Application
  - 10.1.1.3 Mexico: Electric Boat Market- Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.3.1 Mexico: Electric Boat Market, By Boat Type
    - 10.1.1.3.2 Mexico: Electric Boat Market, By Battery Type
    - 10.1.1.3.3 Mexico: 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 RAND Boats
- 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 Vision Marine Technologies Inc.
- 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 Quadrofoil D.O.O
- 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 LTS Marine
- 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
12.7 Ruban Bleu
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Budsin Wood Craft
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 Candela Technology AB
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments

13. Appendix

13.1 About The Insight Partners
13.2 Word Index