DUBLIN--(BUSINESS WIRE)--The "Global Electric Boat Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2019 To 2027" report has been added to ResearchAndMarkets.com's offering.
The global market is worth US$ 4.49 Bn in 2018 and expected to grow at a CAGR of 11.9% during the forecast period from 2019 to 2027.
Advancement in battery technology and decreasing battery prices is fueling the market growth
High pollution rate of gasoline-powered combustion boat and rising fuel prices have shifted the priority of boat manufacturers to battery technology. Advancement in battery technology that offers longer run-time and higher speed is driving the demand for the Electric Boat market, worldwide. In addition, noteworthy advantages offered by Electric Boat such as noiseless, smokeless, less vibration and less engine maintenance than the combustion boat helped the market to grow considerably. In 2018, the global Electric Boat market was US$ 4.49 Bn and expected to reach US$ 12.32 Bn in 2027.
In contradiction to the above-mentioned specifics, Electric Boat failed to become superior to combustion boats. Factors such as limited range or runtime of Electric Boat, longer time to charge a battery and high cost of Electric Boat compare to combustion boats expected to obstruct the market growth. Overall, the global Electric Boat market expected to grow with a CAGR of 11.9% from 2019 to 2027.
The overall Electric Boat market is fairly competitive in nature. The market players are more focused on launching new E-boats that have longer range and higher speed than currently available boats in the market.
- In November 2019, Torqeedo GmbH announced that it will launch new fast chargers for the Power 48-5000 series of lithium batteries. With this new product, the company is sure to achieve greater growth in 2020.
- In January 2018, ElectraCraft Boats launched its new TR Series Electric Boat. All three boats viz. 152TR, 162TR, and 182TR provide passenger capacity up to 12 adults and 1000 W inverter.
Key Market Movements:
- Globally, the Electric Boat market is growing at a CAGR of 11.9% for the period from 2019 to 2027.
- Based on type, Electric Boat is segmented into hybrid and pure Electric Boat. In 2018, the hybrid Electric Boat captured the largest market size of approximately 70%. It is found that short-range and slow speed of pure Electric Boat compares to hybrid boats are obstructing the adoption of pure Electric Boat. However, the pure Electric Boat segment expected to improve its share during the forecast period owing to advancements in battery technology.
- On the basis of passenger capacity, Electric Boat with a capacity of less than 10 passengers captured the highest share of the global Electric Boat market in 2018. Additionally, the same segment is the fastest-growing segment pertaining to high demand for small boats for recreational purposes from the rich class of the U.S., Canada, and Western European countries.
Key Topics Covered:
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I - Secondary Research
1.3.2. Phase II - Primary Research
1.3.3. Phase III - Expert Panel Review
1.3.4. Approach Adopted
22.214.171.124. Top-Down Approach
126.96.36.199. Bottom-Up Approach
1.4. Market Segmentation
2. Executive Summary
2.1. Market Snapshot: Global EB Market
2.2. Global EB Market, by Type, 2018 (US$ Bn)
2.3. Global EB Market, by Battery Type, 2018 (US$ Bn)
2.4. Global EB Market, by Runtime, 2018 (US$ Bn)
2.5. Global EB Market, by Passenger Capacity, 2018 (US$ Bn)
2.6. Global EB Market, by Geography, 2018 (US$ Bn)
3. Market Dynamics
3.2. Market Dynamics
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
4. Global Electric Boat (EB) Market, by Type , 2017 - 2027 (US$ Bn)
4.3. Pure Electric
5. Global Electric Boat (EB) Market, by Battery Type, 2017 - 2027 (US$ Bn)
5.3. Lead Acid
6. Global Electric Boat (EB) Market, by Runtime, 2017 - 2027 (US$ Bn)
6.2. Less than 7 hours
6.3. 7 to 12 hours
6.4. More than 12 hours
7. Global Electric Boat (EB) Market, by Passenger Capacity, 2017 - 2027 (US$ Bn)
7.2. Less than 10 Passengers
7.3. 10 to 25 Passengers
7.4. More than 25 Passengers
8. North America Electric Boat (EB) Market Analysis, 2017 - 2027 (US$ Bn)
8.1.1. North America EB Market Value and Growth, 2017 - 2027, (US$ Bn)
8.2. North America EB Market Value, By Type, 2017 - 2027 (US$ Bn)
8.2.1. Market Analysis
8.3. North America EB Market Value, By Battery Type, 2017 - 2027 (US$ Bn)
8.3.1. Market Analysis
8.4. North America EB Market Value, By Runtime, 2017 - 2027 (US$ Bn)
8.4.1. Market Analysis
8.5. North America EB Market Value, By Passenger Capacity, 2017 - 2027 (US$ Bn)
8.5.1. Market Analysis
8.6. North America EB Market Value, By Region/Country, 2017 - 2027 (US$ Bn)
8.6.1. Market Analysis
8.6.3. Rest of North America
9. Europe Electric Boat (EB) Market Analysis, 2017 - 2027 (US$ Bn)
10. Asia Pacific Electric Boat (EB) Market Analysis, 2017 - 2027 (US$ Bn)
11. Rest of the World Electric Boat (EB) Market Analysis, 2017 - 2027 (US$ Bn)
12. Company Profiles
12.1. General Dynamics Electric Boat
12.2. ElectraCraft Boats
12.3. Canadian Electric Boat Co.
12.4. Grove Boats SA
12.5. Duffy Electric Boat Company
12.6. Torqeedo GmbH
12.7. Boote Marian GmbH
12.9. Ruban Bleu
12.10. Alfastreet Marine
For more information about this report visit https://www.researchandmarkets.com/r/uzr5dv