Hydrofoil Boats Market Research Report By Type (V-Shaped Foil and T-Shaped Foil), By Range (Up to 45 Nm and More than 45 Nm), By End Use (Water Transport/Taxi Operators, Rental/Charter Companies, Smart Cities/Municipalities, Water Resorts/Travel & Hospita

According to MRFR, the market for electric hydrofoil boats has expanded dramatically in recent years. At a compound annual growth rate (CAGR) of 15.6% from 2024 to 2032, it is anticipated to reach USD 401.5 million.

The market for electric hydrofoil boats is expanding globally as a result of rising demand for these vehicles due to technical improvements, quick electric commutes, and more efficient, fossil fuel-free transportation. However, the market growth is being hindered by a number of factors, including the upfront cost of electric hydrofoil boats being significantly higher than traditional vessels, the difficulty of navigating maritime regulations and classifications for new vessel types, the limited carrying capacity and range, and a lack of awareness and understanding of complex installation and setup. However, over the projected period, there will be chances for market expansion due to the expanding maritime activities in emerging countries, battery technology advancements, the integration of renewable energy, and supportive regulations and subsidies for sustainable marine transportation.

The market for hydrofoil boats is expected to grow significantly over the next several years due to technological advancements, increased demand for environmentally friendly boats, and growing interest in recreational marine activities.

Perspectives on Market Segments
The market for electric hydrofoil boats has been divided into three segments: type, range, and end user.
The market is divided into two segments based on type: V-shaped foil and T-shaped foil.
The market has been divided into two segments based on range: Up to 45 Nm and More than 45 Nm.
Water Transport/Taxi Operators, Rental/Charter Companies, Smart Cities/Municipalities, Water Resorts/Travel & Hospitality, and Others are the market segments based on the end user.

Regional Perspectives
The market is divided into four regions: Asia-Pacific, Europe, North America, and the rest of the world. With a market value of USD 47.15 million in 2023, Europe held the greatest market share and is expected to increase at a CAGR of 14.3% over the course of the forecast period.
North America, Europe, APAC, South America, and MEA are the regions that make up the Hydrofoil Boats Market segmentation. Because of the presence of important market players and advantageous government regulations, North America held the greatest market share in 2023. Because of the growing demand for high-performance boats and increased disposable income, Europe is predicted to experience tremendous growth. Because of its quick economic growth and rising investment in the marine sector, APAC is expected to have the quickest rate of growth. Emerging markets and rising demand for leisure activities are predicted to drive moderate growth in South America and MEA.

Key Players
The main companies that made a substantial contribution to the expansion of the market for electric hydrofoil boats were examined by MRFR during the study. Sea Bubbles, ENATA, foiler, quadrofoil, MobyFly, envgo, Vessev, Boundary Layer Technologies, Artemis Technologies, and Candela are a few of these.