Global 40-Ft Electric Boat Industry Outlook 2023-2030: Asia-Pacific's Tourism Surge Sparks Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The Global 40-Ft Electric Boat Market Forecast to 2030 report has been added to ResearchAndMarkets.com's offering.

Charting New Waters: The Surge of the 40-Ft Electric Boat Market

The global 40-ft electric boat market is set to undergo remarkable growth, projected to leap from US$ 1.7 billion in 2022 to an impressive US$ 4.9 billion by 2030. This growth trajectory is forecasted to maintain a robust CAGR of 14.6% between 2023 and 2030.

Tourism and Recreation Take the Helm

The rising ocean-based tourism and recreation sector in North America, fueled by an upsurge in disposable income, is steering the market's expansion. The region's increasing development of electric boat charging infrastructure, exemplified by Aqua superPower's marine fast-charging installation at Tahoe City Marina in June 2022, is a driving force for market growth. This combination of growing tourism and enhanced charging infrastructure is propelling the 40-ft electric boat market in North America.

Asia-Pacific: A Rising Tide

In Asia-Pacific (APAC), renowned tourist destinations like China, Thailand, Vietnam, Japan, Singapore, and Indonesia contribute to a vibrant tourism sector. Thailand alone experienced approximately 10 million visitors in 2022, with projections soaring to 23 million in 2023. As tourism continues to surge in the region, demand for the 40-ft electric boat market is expected to follow suit. The presence of a sizeable billionaire population and ample coastlines further enhances the market's growth prospects in APAC.

North America's Nautical Playground

Within North America, the market is divided into the US, Canada, and Mexico. The region's burgeoning ocean-based tourism and recreation industry, buoyed by increasing disposable incomes, is a prime driver. Notably, the US Bureau of Economic Analysis reported a rise in disposable personal income from US$ 18,174.4 billion in Q1 of 2022 to US$ 19,707.2 billion in Q1 of 2023. Coveted cruising destinations such as the San Juan Islands, Block Island, Rhode Island, Chicago, and Florida further contribute to the heightened demand for electric boats.

The industry's growth is also fueled by the trend toward eco-friendly alternatives like electric boats, reflecting increasing environmental consciousness and the pursuit of sustainability. These electric boats offer a quiet operation, improved energy efficiency, and an eco-conscious choice for water sports and leisure activities.

Riding the Waves of Post-Pandemic Recovery

The COVID-19 pandemic cast shadows on the European 40-ft electric boat market. Lockdowns and restrictions stifled leisure and tourism, impacting boat sales and rentals. However, as the pandemic subsides and restrictions ease, the market is poised to rebound. Heightened environmental awareness, supported by government regulations targeting greenhouse gas emissions, will bolster the demand for electric boats in the post-pandemic era.

To address pollution concerns, governments have actively endorsed eco-friendly alternatives, including electric boats, aligning with sustainability goals. Regulatory initiatives like the International Maritime Organization's (IMO) 2020 regulations enforcing a 0.5% sulfur content cap on marine fuel have propelled the adoption of electric vessels. As companies in the electric boat sector align with these initiatives, their growth has been remarkable.

Key Players and Future Horizons

Frauscher Bootswerft GmbH & Co KG, Natural Yachts BV, ESMARIN Ltd, Cockwells Modern & Classic Boatbuilding Ltd, and Navalt Inc are pivotal players in the evolving 40-ft electric boat market. With the wind of environmental consciousness at their backs and supportive government regulations propelling them forward, these players are steering the market into an era of sustainability and innovation.

Key Topics Covered

1. Introduction

2. Key Takeaways

3. Research Methodology

4. 40-Foot Electric Boat Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. 40-Foot Electric Boat Market - Key Market Dynamics

5.1 Market Drivers

5.2 Market Restraints

5.3 Market Opportunities

5.4 Future Trends

5.5 Impact Analysis of Drivers and Restraints

6. 40-Foot Electric Boat Market - Global Market Analysis

6.1 40-Foot Electric Boat Market Global Overview

6.2 Global 40-Foot Electric Boat Market Forecast and Analysis

6.3 Market Positioning - Top Five Players

7. 40-Foot Electric Boat Market Revenue and Forecast to 2030 - Propulsion

7.1 Overview

7.2 40-Foot Electric Boat Market, By Propulsion (2022 and 2030)

7.3 Pure Electric

7.4 Hybrid

7.5 Sail Electric

8. 40-Foot Electric Boat Market Revenue and Forecast to 2030 - Battery Type

8.1 Overview

8.2 40-Foot Electric Boat Market, By Battery Type (2022 and 2030)

8.3 Nickel-Based

8.4 Lead-Acid

8.5 Lithium-ion

9. 40-Foot Electric Boat Market - By Application

9.1 Overview

9.2 40-Foot Electric Boat Market, by Application (2022 and 2030)

9.3 Fishing

9.4 Recreational

9.5 Others

10. 40-Foot Electric Boat Market - By Voltage Architecture

10.1 Overview

10.2 40-Foot Electric Boat Market, by Voltage Architecture (2022 and 2030)

10.3 12V

10.4 24V

10.5 48V

11. 40-Foot Electric Boat Market - By Boat Type

11.1 Overview

11.2 40-Foot Electric Boat Market, by Boat Type (2022 and 2030)

11.3 Trawlers

11.4 Catamarans

11.5 Yachts

11.6 Power Cruisers

11.7 Others

12. 40-Foot Electric Boat Market - Geographic Analysis

12.1 Overview

12.2 North America: Electric Boat

12.3 Europe: Electric Boat

12.4 APAC: 40-Foot Electric Boat Market

12.5 MEA: 40-Foot Electric Boat Market

12.6 SAM: Electric Boat

13. Impact of COVID-19 Pandemic on 40-Foot Electric Boat Market

13.1 Overview

13.2 North America: Impact Assessment of COVID-19 Pandemic

13.3 Europe: Impact Assessment of COVID-19 Pandemic

13.4 APAC: Impact Assessment of COVID-19 Pandemic

13.5 MEA: Impact Assessment of COVID-19 Pandemic

13.6 SAM Impact Assessment of the COVID-19 Pandemic

14. Industry Landscape

14.1 Overview

14.2 Market Initiative

14.3 Product Development

15. Company Profiles

15.1 Frauscher Bootswerft GmbH & Co. KG

15.2 Duffy Electric Boat Co.

15.3 RAND Boats

15.4 Vision Marine Technologies Inc.

15.5 Quadrofoil DOO

15.6 LTS MARINE

15.7 RUBAN BLEU SAS

15.8 aquawatt Mechatronik und Yachtbau

15.9 Wellington Electric Boat Building Co.

15.10 Cockwells Modern & Classic Boatbuilding Ltd.

16. Appendix

16.1 About

16.2 Word Index

For more information about this report visit https://www.researchandmarkets.com/r/un2x5f

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