About Electric Boats
Electric boats or electric ships, are vessels which are powered with an electric motor. The electric boat often use renewable energy sources such as wind turbines, solar panels and towed generators. Many boats take a hybrid approach with sails or diesel engines as a primary power source with electric motors as auxiliary power. The global electric boats market is expected to witness a significant growth during the forecast period owing to ban on the use of marine combustion engines in specific areas and increase in recreational activities across well-developed countries.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Leading global players are focusing on strategic partnerships to improve their services and products. Companies are focusing on increasing their client base to strengthen market position and to enhance service & product offerings. Analyst at AMA Research estimates that European Manufacturers will contribute the maximum growth to Global Electric Boats market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Frauscher Boats (Austria), Duffy Electric Boat Company (United States), RAND Boats ApS (Denmark), Echandia Marine AB (Sweden), GardaSolar s.r.l. (Italy), Lillebror Marine (Netherlands), Canadian Electric Boat Company (Canada), Quadrofoil d.o.o. (Slovenia), LTS Marine (Canada) and Symphony Boat Company (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Ruban Bleu (France), aquawatt Mechatronik und Yachtbau (Austria), Soel Yachts B.V. (Netherlands), Torqeedo GmbH (Germany) and Lear Electric Boats (United States).
Segmentation Overview
AMA Research has segmented the market of Global Electric Boats market by Type (Pure Electric and Hybrid) and Region.
On the basis of geography, the market of Electric Boats has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, Austria, United Kingdom, Slovenia, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Battery Type, the sub-segment i.e. Lead Acid will boost the Electric Boats market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Boat Size, the sub-segment i.e. Small will boost the Electric Boats market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Power Output, the sub-segment i.e. Below 5KW will boost the Electric Boats market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase in Awareness about Environmental Safety
Market Growth Drivers:
Ban On the Use of Marine Combustion Engines in Specific Areas, Increase in Recreational Activities across Well-Developed Countries and Increasing Disposable Income and Higher Standards of Living
Challenges:
Technical Challenges and Acceptance of an Electric Boat
Restraints:
High Cost and Concern Regarding Battery Operation
Opportunities:
Rising Demand for Environmentally Friendly Vessels in Marine Industry and Government Supports Regarding Reducing Reliability over Fossil Fuels
Key Target Audience
Manufacturers of Electric Boats, Suppliers of Electric Boats Parts, Dealers of Electric Boats, Marine Industry, Governmental Bodies and Research Firms
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.