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Electric Boats Market by End Use (Recreational Boats, Commercial Boats, Military & Law Enforcements Boats), Boat Power (< 5kW, 5-30kW, >30kW), Boat Size (< 20ft, 20-50ft, >50ft), Power Source, Hull Design and Region - Global Forecast to 2030

Publisher MarketsandMarkets
Published Aug 18, 2023
Length 226 Pages
SKU # MKMK18154396

Description

Electric Boats Market by End Use (Recreational Boats, Commercial Boats, Military & Law Enforcements Boats), Boat Power (< 5kW, 5-30kW, >30kW), Boat Size (< 20ft, 20-50ft, >50ft), Power Source, Hull Design and Region - Global Forecast to 2030



The Electric Boats Market size is projected to grow from USD 3.3 billion in 2023 to USD 7.7 billion by 2030, at a CAGR of 13.0% from 2023 to 2030. The market is expected to be driven by the increasing demand for advanced electrical systems in electric boats

The Recreational Boating segment is expected to have largest market share during the forecast period.

One of the primary reasons for the growth of electric boats in the recreational boating market is the increasing emphasis on environmental sustainability. Electric boats produce zero emissions during operation, which is appealing to environmentally conscious consumers who want to reduce their carbon footprint and minimize the impact on water ecosystems.

The <5 kW range is projected to lead the market during the forecast period.

Many low-power electric boats are designed for use on calm waters, such as urban lakes, rivers, and inland waterways. These boats are well-suited for leisurely cruising, sightseeing, and recreational activities in areas where high speeds and long ranges are not necessary. Low-power electric boats tend to have shorter ranges compared to high-power boats. However, for activities like short tours, fishing trips, or simple relaxation on the water, the range of a low-power electric boat is often sufficient. Users may not require long-distance travel capabilities.

The <20 ft is projected to lead Electric Boats Market during the forecast period.

Smaller electric boats are often well-suited for urban and recreational use, such as cruising on calm lakes, rivers, and canals. They are ideal for short trips, leisurely sightseeing, and enjoying time on the water close to urban centers. Electric boats under 20 feet align with the growing emphasis on sustainable transportation options. They emit zero emissions and have a lower environmental impact compared to boats powered by fossil fuels, making them appealing to environmentally conscious consumers.

North America is expected to account for the largest market share in 2023

The Electric Boats Market has been studied for the regions North America, Europe, Asia Pacific, and Rest of the World. North America is expected to have the highest market share during the forecast period. Norway is one of the fastest-growing countries in the Electric Boats Market . All major countries in the region are major contributors to the overall North American market based on regulations supporting the shift towards electrification or supporting infrastructure.

The break-up of the profile of primary participants in the Electric Boats Market :

By Company Type: Tier 1 – 55%, Tier 2 – 25%, and Tier 3 – 20%

By Designation: C Level – 50%, Director Level – 25%, Others-25%

By Region: North America – 47%, Europe – 21%, Asia Pacific – 21%, Rest of the World – 11%.

Prominent companies include Brunswick Corporation (US), Groupe Beneteau (France), Greenline Yachts (Slovenia), Candela (Sweden), and Silent Yachts (Austria). among others.

Research Coverage:

The report segments the Electric Boats Market By End Use (Recreational Boats, Commercial Boats, Military & Law Enforcements Boats), By Boat Power (< 5kW, 5-30kW, >30kW), by Boat Size (< 20ft, 20-50ft, >50ft), By Power Source, By Hull Design and by Region- Global Forecast to 2030. The Electric Boats Market has been studied in North America, Europe, Asia Pacific, and the Rest of the World. The scope of the report covers extensive information covering market overviews, such as drivers, restraints, challenges, and opportunities, that drive the growth in the market. Analysis of key players in the industry providing business overviews, products, solutions, and services, key strategies, recent developments, and new product & service launches associated with the Electric Boats Market is also covered in the report. An extensive competitive analysis of the Key players and the up-and-coming startups in the Marine Electric Vehicle Ecosystem is also covered in the report.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Electric Boats Market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on Electric Boats offered by the top players in the market

Market Drivers: Implementation of maritime Emission regulations laws, Development of advanced battery technologies are driving factors for the market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Electric Boats Market

Market Development: Comprehensive information about lucrative markets – the report analyses the Electric Boats Market across varied regions

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Electric Boats Market

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players in the Electric Boats Market

Table of Contents

226 Pages
1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Inclusions And Exclusions
Table 1 Electric Boats Market: Inclusions And Exclusions
1.4 Market Scope
1.4.1 Markets Covered
Figure 1 Electric Boats Market Segmentation
1.4.2 Regions Covered
1.4.3 Years Considered
1.5 Currency Considered
Table 2 Usd Conversion Rates
1.6 Market Stakeholders
1.7 Limitations
2 Research Methodology
2.1 Research Data
Figure 2 Electric Boats Market: Research Methodology Model
Figure 3 Electric Boats Market: Research Design
2.1.1 Secondary Data
2.1.2 List Of Key Secondary Sources
Table 3 List Of Publications And Order Books Of Shipyards/Component Suppliers/Regulatory Publications
Table 4 List Of Magazines/Press Releases/Newsletters
2.1.3 Key Data From Secondary Sources
2.1.4 Primary Data
2.1.5 Key Primary Sources
Table 5 List Of Key Primary Sources
2.2 Factor Analysis
2.2.1 Introduction
2.2.2 Demand-side Indicators
2.2.2.1 Growing Interest In Recreational Boating Activities
2.2.3 Supply-side Indicators
2.2.3.1 Increasing Technological Advancements To Enhance Passenger Experience
2.3 Market Scope
2.3.1 Segments And Subsegments
2.3.1.1 Electric Boats Market, By End Use
2.3.1.2 Electric Boats Market, By Boat Power
2.3.1.3 Electric Boats Market, By Boat Size
2.4 Research Approach And Methodology
2.4.1 Bottom-up Approach
2.4.1.1 Regional Electric Boats Market Size Estimation: Bottom-up Approach
Figure 4 Market Size Estimation Methodology: Bottom-up Approach
2.4.2 Top-down Approach
Figure 5 Market Size Estimation Methodology: Top-down Approach
2.5 Data Triangulation
Figure 6 Electric Boats Market: Data Triangulation
2.6 Recession Impact Analysis
2.6.1 Demand-side Indicators
2.6.2 Supply-side Indicators
2.7 Market Estimation And Forecasting
2.8 Research Assumptions
3 Executive Summary
Figure 7 Recreational Boats Segment To Dominate Market During Forecast Period
Figure 8 <5 Kw Segment To Have Largest Market Share In 2023
Figure 9 Europe To Lead Electric Boats Market During Forecast Period
4 Premium Insights
4.1 Attractive Opportunities For Players In Electric Boats Market, 2023–2030
Figure 10 Increasing Usage Of Electric Boats For Recreation To Drive Market Growth During Forecast Period
4.2 Electric Boats Market, By End Use
Figure 11 Recreational Boats To Lead Market During Forecast Period
4.3 Electric Boats Market, By Boat Size
Figure 12 <20 Feet Segment To Lead Market During Forecast Period
4.4 Electric Boats Market, By Country
Figure 13 Market In Norway To Register Highest Cagr During Forecast Period
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 14 Electric Boats Market Dynamics
5.2.1 Drivers
5.2.1.1 Emergence Of Green Boating Solutions
5.2.1.2 Development Of Innovative Electric Boat Technologies
5.2.1.3 Booming Maritime Tourism And Surface Water Sport Industry
5.2.1.4 Improved Electric Boat Range And Performance
Figure 15 Common Lithium-ion Batteries With Key Features
5.2.1.5 Cost Efficiency Of Electric And Hybrid Boats
5.2.2 Restraints
5.2.2.1 Shortage Of Raw Materials
5.2.2.2 Limited Availability And High Cost Of Batteries
5.2.3 Opportunities
5.2.3.1 Development Of High-powered Batteries
5.2.3.2 Potential For Battery Charging Via Renewable Energy Sources
5.2.3.3 Advancements In Marine Electronics And Control
5.2.4 Challenges
5.2.4.1 Inadequate Charging Infrastructure
5.2.4.2 Technological Limitations
5.3 Porter’s Five Forces Analysis
Table 6 Porter’s Five Forces Analysis
Figure 16 Porter’s Five Forces Analysis
5.3.1 Threat Of New Entrants
5.3.2 Threat Of Substitutes
5.3.3 Bargaining Power Of Suppliers
5.3.4 Bargaining Power Of Buyers
5.3.5 Intensity Of Competitive Rivalry
5.4 Value Chain Analysis
Figure 17 Electric Boats Market: Value Chain Analysis
5.4.1 Raw Materials
5.4.2 Research And Development
5.4.3 Component Manufacturing
5.4.4 Oems
5.4.5 End Users
5.4.6 After-sales Services
5.5 Ecosystem Mapping
Figure 18 Electric Boats Market: Ecosystem Mapping
5.5.1 Prominent Companies
5.5.2 Private And Small Enterprises
5.5.3 End Users
Table 7 Electric Boats Market: Role Of Key Players In Ecosystem
5.6 Trends/Disruptions Impacting Customer Businesses
Figure 19 Revenue Shift For Players In Electric Boats Market
5.7 Trade Data Analysis
Table 8 Country-wise Imports, 2018–2022 (Units)
Table 9 Country-wise Exports, 2018–2022 (Units)
5.8 Technology Analysis
5.8.1 Lithium-sulfur Batteries (Li-s)
5.8.2 Hydrogen Fuel Cells
5.8.3 High Energy Density Electrochemical Storage
5.9 Tariff And Regulatory Landscape
Table 10 North America: Regulatory Bodies, Government Agencies, And Others
Table 11 Europe: Regulatory Bodies, Government Agencies, And Others
Table 12 Asia Pacific: Regulatory Bodies, Government Agencies, And Others
Table 13 Middle East & Africa: Regulatory Bodies, Government Agencies, And Others
Table 14 Latin America: Regulatory Bodies, Government Agencies, And Others
5.10 Average Selling Price Analysis
Table 15 Average Selling Price Of Electric Boats, By Boat Type (Usd Thousand)
5.11 Volume Data
Table 16 Electric Boats Market, By Boat Type, 2019–2022 (Units)
Table 17 Electric Boats Market, By Boat Type, 2023–2030 (Units)
5.12 Key Stakeholders And Buying Criteria
5.12.1 Key Stakeholders In Buying Process
Figure 20 Influence Of Stakeholders On Buying Electric Boats, By End Use
Table 18 Influence Of Stakeholders On Buying Electric Boats, By End Use (%)
5.12.2 Buying Criteria
Figure 21 Key Buying Criteria For Electric Boats, By End Use
Table 19 Key Buying Criteria For Electric Boats, By End Use
5.13 Key Conferences And Events, 2023–2024
Table 20 Electric Boats Market: Key Conferences And Events, 2023–2024
6 Industry Trends
6.1 Introduction
6.2 Technology Advancements In Electric Boats Market
6.2.1 Battery Technology
6.2.2 Electric Propulsion Systems
6.2.3 Charging Infrastructure
6.2.4 Smart Technologies And Connectivity
6.3 Emerging Technology Trends In Electric Boat Manufacturing
6.3.1 3d Printing
6.3.2 Artificial Intelligence
6.3.3 Predictive Maintenance
6.4 Supply Chain Analysis
Figure 22 Supply Chain Analysis
6.5 Use Case Analysis
6.5.1 Use Case 1: Rising Enthusiasm For Boating Drives Us Economy
6.5.2 Use Case 2: Columbian Navy's Cotenergy Boat Provides Eco-friendly And Adaptable Capabilities For Coastal Operations
6.5.3 Use Case 3: Seabubbles Electric Hydrofoil Water Taxi Provides Efficient Transportation Services Between Lakes In France Using Innovative Flying Technology
6.6 Patent Analysis
Table 21 Marine Electric Vehicle Market: Key Patents
7 Electric Boats Market, By End Use
7.1 Introduction
Figure 23 Recreational Boats Segment To Dominate During Forecast Period
Table 22 Electric Boats Market, By End Use, 2019–2022 (Usd Million)
Table 23 Electric Boats Market, By End Use, 2023–2030 (Usd Million)
7.2 Recreational Boats
Table 24 Electric Boats Market, By Recreational Boats, 2019–2022 (Usd Million)
Table 25 Electric Boats Market, By Recreational Boats, 2023–2030 (Usd Million)
7.2.1 Cruising Boats
7.2.1.1 Growing Use Of Cruising Boats In Leisure Travel And Ecotourism To Drive Market
7.2.2 Speedboats
7.2.2.1 Increasing Use In Water Sports To Drive Market
7.3 Commercial Boats
Table 26 Electric Boats Market, By Commercial Boats, 2019–2022 (Usd Million)
Table 27 Electric Boats Market, By Commercial Boats, 2023–2030 (Usd Million)
7.3.1 Passenger/Crew Ferry Boats
7.3.1.1 Need For Safe And Comfortable Transportation To Drive Market
7.3.2 Fishing Boats
7.3.2.1 Increasing Use Of Electric Boats For Inshore And Nearshore Fishing To Drive Market
7.3.3 Tug & Workboats
7.3.3.1 Increasing Use Of Electric Boats In Offshore Wind Farms And Aquaculture To Drive Market
7.3.4 Other Commercial Boats
7.4 Military And Law Enforcement Boats
Table 28 Electric Boats Market, By Military And Law Enforcement Boats, 2019–2022 (Usd Million)
Table 29 Electric Boats Market, By Military And Law Enforcement Boats, 2023–2030 (Usd Million)
7.4.1 Patrol Boats
7.4.1.1 Increasing Use In Stealth Patrolling To Drive Market
7.4.2 Attack/Combat Boats
7.4.2.1 Increasing Use Due To Agility And Stealth To Drive Market
8 Electric Boats Market, By Hull Design
8.1 Introduction
8.2 Hydrofoil Design
8.2.1 Increasing Use Due To Reduced Drag And Smoother Flow To Drive Market
8.3 Conventional Single Hull Design
8.3.1 Increased Retrofitting Of Traditional Hull Boats With Electric Propulsion To Drive Market
8.4 Multihull Design
8.4.1 Increased Stability And Reduced Drag Offered By Multihull Designs To Drive Market
9 Electric Boats Market, By Boat Power
9.1 Introduction
Figure 24 >30 Kw Segment To Register Highest Cagr During Forecast Period
Table 30 Electric Boats Market, By Boat Power, 2019–2022 (Usd Million)
Table 31 Electric Boats Market, By Boat Power, 2023–2030 (Usd Million)
9.2 <5 Kw
9.2.1 Increasing Recreational Boating In Calm Waters To Drive Market
9.3 5–30 Kw
9.3.1 Increased Adoption Of Electric Boats For Recreational Use And Commercial Transportation To Drive Market
9.4 >30 Kw
9.4.1 Increase In Ocean Boating With Sustainable Electric Boats To Drive Market
10 Electric Boats Market, By Boat Size
10.1 Introduction
Figure 25 <20 Ft Segment To Hold Largest Market Share During Forecast Period
Table 32 Electric Boats Market, By Boat Size, 2019–2022 (Usd Million)
Table 33 Electric Boats Market, By Boat Size, 2023–2030 (Usd Million)
10.2 <20 Feet
10.2.1 Growing Inland Water Tourism And Commercial Transportation To Drive Market
10.3 20–50 Feet
10.3.1 Increasing Demand For Compact And Eco-friendly Boats To Drive Market
10.4 >50 Feet
10.4.1 Rising Maritime Tourism To Drive Market
11 Electric Boats Market, By Power Source
11.1 Introduction
11.2 Battery-powered Boats
11.2.1 Development In Battery Technologies To Drive Market
11.3 Solar-powered Boats
11.3.1 Uninterrupted Energy Supply, Enhanced Operational Distance, And Lesser Reliance On Conventional Systems To Drive Market
11.4 Hybrid-powered Boats
11.4.1 Demand For Ecofriendly Boats And Better Range To Drive Market
12 Electric Boats Market, By Region
12.1 Introduction
Figure 26 North America Estimated To Hold Largest Market Share In 2023

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