Electric Boat market size is expected to gain momentum owing to the rising demand for zero emission, and high-performance boats during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Electric Boat Market, 2021-2028.” It is a type of electric vehicle that uses batteries to move the boat rather than fuel to carry out marine operations. They employ batteries that are comparable to those used in electric vehicles. They are primarily ferries and small passenger boats that operate entirely on electricity on interior waterways.
Electric Boat Industry Regional Analysis
Geographically, the electric boat market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Europe holds the largest share of the global electric boat market and is expected to maintain its leading position in the forecast period. The European Government is largely focusing on reducing the fuel emission that is impacting the environment. The government is also taking initiatives to promote clean and zero-emission power sources which is ultimately generating high demand for electric boats in this region. Moreover, the manufacturing companies are also working towards developing advanced battery system to provide high performance and longer range batteries for boats. Many cities in this region are adjacent to water bodies and seas which are likely to offer lucrative opportunities for the electric boats in this region.
Electric Boat Segments:
By boat type, the market is segmented into pure electric, and hybrid. On the basis of battery type, the market is segregated into nickel-based, lead acid, and lithium-ion. On the basis of application type, the market is fragmented into passenger, cargo, and others. The market is divided into North America, Europe, Asia Pacific, and the Rest of the world by geography.
Rising Environmental Concerns to Stimulate Growth
The global electric boat market to grow due to rising environmental concerns during the projected period. Pollution has become a major factor impacting the environment as demand for transportation, and travel by marine has increased. The market provides an environmentally beneficial alternative while also assisting in the expansion. Moreover, increasing tourism, boat transportation, boat leasing, increasing urbanization, standard of living, and monitoring criminal activities are major factors driving the growth of the market.
Moreover, sudden explosion of the COVID-19 pandemic has created unprecedented turmoil across all economic systems around the globe, aggravating the already widespread uncertainty in the business world. Worldwide, governments have been taking emergency measures to wade their economies out of this crisis. Private sector entities are also exploring alternatives to survive these challenging times. At Fortune Business Insights™, we are making concrete efforts to gain market intelligence and equip you with updated information to aid your fight against this crisis. We are offering precise market reports based on our expertise and experience in the field of market research.
Government Initiatives to Promote Growth in Europe
Moreover, Europe is expected to hold the largest global electric boat market share during the forecast period. The government is focusing on reducing fuel emission, promoting zero-emission power sources, advanced battery systems, presence of prominent players, and high performance of longer-range batteries are the major contributing factors in the region.
Moreover, North America to hold a significant position in the market. The government initiatives to promote tourism, businesses in coastal regions, high rate of recreational activities, and marine crop patrolling are to drive the market forward.
Electric Boat Manufacturers Focus on R&D Investments to Offer Advanced Products
To improve their position in the market, several key market players are forming partnerships, and pursuing mergers and acquisitions with other firms. Furthermore, electric boat industry participants are concentrating on upgrading battery technology to get a competitive advantage over their competitors.
List of the Companies Operating in the Market:
- Frauscher Sensortechnik GmbH
- Canadian Electric Boat Co.
- Ruban Bleu
- Echandia
- Symphony Boat Company
- GardaSolar s.r.l.
- Duffy Electric Boat Company
- Aquawatt
- NavAlt Boats
- Soel Yachts
- RAND
- Torqeedo GmbH
Global Electric Boat Market Segmentation:
By Boat Type:
- Pure Electric
- Hybrid
By Battery Type:
- Nickel-Based
- Lead Acid
- Lithium-Ion
By Application Type:
- Passenger
- Cargo
- Other
By Geography:
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
Table Of Content:
Moreover, Introduction
1.1. Moreover, Research Scope
1.2. Moreover, Market Segmentation
1.3. Moreover, Research Methodology
1.4. Moreover, Definitions and Assumptions
Executive Summary
Market Dynamics
3.1. Moreover, Market Drivers
3.2. Moreover, Market Restraints
3.3. Moreover, Market Opportunities
Moreover, Key Insights
4.1. Key Industry Developments – Moreover, Merger, Acquisitions, and Partnerships
4.2. Porter’s Five Forces Moreover, Analysis
4.3. Moreover, SWOT Analysis
4.4. Moreover, Technological Developments
4.5. Moreover, Value Chain Analysis
4.6. Moreover, Impact of COVID-19 on Bicycle Market
Global Electric Boat Market Analysis, Moreover, Insights and Forecast, 2017-2028
5.1. Key Findings / Moreover, Summary
