Global Electric Boat Market, By System (Energy Storage System, Power Conversion, Power Generation, Power Distribution System), Operation (Manned, Remotely-Operated, Autonomous), Range (1,000 km), Ship Type (Commercial, Defence), Power (7560 kW), Application (Recreational Boats, Underwater Leisure, Autonomous Underwater Vehicles, Others), End Use (New Build and Line Fit, Retrofit), Type (Full Electric, Hybrid), Boat Size (Small, Medium, Large), Battery Type (Lead Acid, Lithium Ion, Nickel Based Batteries), Boat Length (Under 30 Ft, 30-60 Ft, More than 60 Ft), Run Time (Less than 7 Hours, 7 to 12 Hours, More than 12 Hours), Passenger Capacity (Less Than 10 Passengers, 10 to 25 Passengers, More Than 25 Passengers), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Electric Boat Market
Electric boat market is expected to reach USD 230,180.50 million by 2028 witnessing market growth at a rate of 11.20% in the forecast period of 2021 to 2028. Data Bridge Market Research report on electric boat market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
Electric boat is a form of electric vehicle that is designed to carry off marine operations by propelling the boat through batteries rather than by fuel. The batteries used in electric boats are equivalent to those used in electric vehicles. These boats are also used as rescue vehicles owing to the speed with which they can traverse the seas and carry out mid-sea rescue operations efficiently.
Increasing number of population across the globe, increasing awareness among the people regarding the rising levels of pollution, increasing levels of disposable income of the people, surging levels of investment for the development of improved infrastructure, rising number of government initiative toward reducing reliability over fossil fuels, consumer preference for economically effective boats are some of the major as well as vital factors which will likely to augment the growth of the electric boat market in the projected timeframe of 2021-2028. On the other hand, increasing adoption of advanced technology along with development of batteries having longer life and reliability, increase in boat transportation and boat leasing which will further contribute by generating massive opportunities that will lead to the growth of the electric boat market in the above mentioned projected timeframe.
High cost of the boat along with increasing demand for fast-speed chargers to charge high horsepower motors which will likely to act as market restraints factor for the growth of the electric boat in the above mentioned projected timeframe. Difficulty in replacement of propulsion components along with technical limitations of lithium-ion battery which will become the biggest and foremost challenge for the growth of the market.
This electric boat market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on electric boat market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Electric Boat Market Scope and Market Size
Electric boat market is segmented on the basis of system, operation, range, ship type, power, application, type, boat size, battery type, boat length, run time, passenger capacity and end use. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Electric boat market on the basis of system has been segmented as energy storage system, power conversion, power generation, and power distribution system.
- Based on operation, the electric boat market has been segmented into manned, remotely-operated, and autonomous.
- On the basis of range, the electric boat market has been segmented into <50 km, 50-100 km, 101-1,000 km, and >1,000 km.
- Based on ship type, the electric boat market has been segmented into commercial, and defence.
- On the basis of power, the electric boat market has been segmented into <75 kW, 75-150 kW, 151-745 kW, 746-7,560 kW, and >7560 kW.
- On the basis of application, the electric boat market has been segmented into recreational boats, underwater leisure, autonomous underwater vehicles, and others.
- Based on type, the electric boat market has been segmented into full electric, and hybrid.
- On the basis of boat size, the electric boat market has been segmented into small, medium, and large.
- Based on battery type, the electric boat market has been segmented into lead acid, lithium ion, and nickel based batteries.
- On the basis of boat length, the electric boat market has been segmented into under 30 Ft, 30-60 Ft, and more than 60 Ft.
- Based on run time, the electric boat market has been segmented into less than 7 hours, 7 to 12 hours, and more than 12 hours.
- On the basis of passenger capacity, the electric boat market has been segmented into less than 10 passengers, 10 to 25 passengers, and more than 25 passengers.
- Electric boat has also been segmented on the basis of end use into new build and line fit, and retrofit.
Electric Boat Market Country Level Analysis
Electric boat market is analysed and market size, volume information is provided by country, system, operation, range, ship type, power, application, type, boat size, battery type, boat length, run time, passenger capacity and end use as referenced above.
The countries covered in the electric boat market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe will dominate the electric boat market due to the increasing demand for electric boats for recreational and passenger-ferrying purposes while Asia-Pacific region will expect to grow in the forecast period of 2021-2028 due to the increasing levels of disposable income along with higher living standard of the people in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Electric Boat Market Share Analysis
Electric boat market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to electric boat market.
The major players covered in the electric boat market report are FRAUSCHER BOOTSWERFT GmbH & Co KG; Duffy Electric Boat Company.; RAND Boats ApS; Echandia; GardaSolar srl; Lillebror Marine; Vision Marine Technologies; Quadrofoil d.o.o.; NAVAL DC B.V.; LTSMARINE.; Symphony Boat Company; Ruban Bleu; aquawatt; Soel Yachts B.V.; Torqeedo GmbH; LEARBOATS USA, Inc.; Grove Boats SA; ElectraCraft; Greenline Yachts; DOMANI YACHTS HQ; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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