Skip to main content

Electric Boats Market - Future Scenario, Key Insights, Top Companies 2032

 According to Future Market Insights research, during the projected period, the global electric boats market is expected to grow at a CAGR of 12.9%. The electric boats market value is projected to increase from US$ 5.65 Bn in 2022 to US$ 19 Bn by 2032.

Due to growing worries about environmental and marine pollution, shipyards are switching to renewable energy sources from fossil fuels. In addition, companies are allocating a sizable portion of their budgets toward R&D in order to create a more robust and durable battery system. Different regional governments are enforcing strict regulations to slow the growth of pollution, launching programmes to increase the number of battery-powered boats on the water, and subsidising the research and development of new battery and pollution control technologies. This is expected to to drive the electric boats market forward.

Moreover, the demand for recreational boating activities is being propelled by the rising urbanisation, increased standard of life, and growth in disposable income of individuals. To say that electric watercrafts are just used for fishing and leisure is an understatement. They are also used for patrolling the seas, keeping an eye out for illegal activities like smuggling, and performing effective rescue operations.

In addition, tourism's continued expansion, along with the rising tides of boat leasing and waterborne transit, are driving global demand for electric boats.

The global electric boats market is growing due to rising environmental concerns and stringent emission restrictions, rising seaborne commerce operations, and the expansion of the marine tourist sector.

However, the electric boats market is being held back by the expensive price of electric propulsion systems and the low storage capacity of batteries in electric watercrafts. However, chances are likely to arise in the coming years as growth and development work to increase charging infrastructure, governments work to encourage the use of electric watercrafts, and technical advances open new frontiers.

Key Takeaways

  • As of 2021, electric watercrafts only account for about 2% of the market.
  • Sales of electric boats are low in both Europe and the United States.
  • The rising number of people who enjoy freshwater fishing and sailing are largely responsible for the boom in the recreational boating industry in the world's two largest electric boats markets, Western Europe and North America.
  • It is expected to be the technical constraints of the lithium-ion battery, in addition to the difficulty of replacing propulsion components, that is likely to pose the greatest threat to the market's development.

For More Info@ https://www.futuremarketinsights.com/reports/electric-boats-market

Competitive Landscape

The global electric boats market is highly fragmented due to the high number of companies operating within it. The primary objectives of players are to increase their electric boats market share and maximise their financial gain. To achieve this goal, players are resorting to a wide range of strategies, including mergers, acquisitions, and various kinds of cooperation. However, major companies are spending money on R&D to create eco-friendly speedboats with a smaller impact on the economy and the environment.

Recent Developments

  • With the acquisition of STARFISHER announced in October 2021, Groupe Beneteau was able to increase its production capacity for 25- to 35-foot powerboats by establishing a presence in Portugal.
  • At the 2021 Busan International Boat Show in June, Danfoss unveiled the electric drivetrain and sub-system for the first commercially accessible hydrogen-electric yacht, Hydrogenia.
  • In May of 2021, Limestone Boats and Vision Marine Technologies entered a cooperation to develop electric outboard motors for use in Limestone Boats' powerboats; the companies hope to increase production from 400 to 510 powerboats by the end of 2022.

Comments

Post a Comment

Popular posts from this blog

Medical Gloves Market Trends, Growth, Future Demand, Analysis and Forecast by 2032

 The medical gloves market has witnessed significant growth and evolution, especially in recent years, due to the global healthcare challenges, including the COVID-19 pandemic. Medical gloves are crucial protective equipment used by healthcare professionals to prevent the transmission of infections, maintain hygiene standards, and ensure the safety of both patients and medical personnel. This market encompasses a wide range of glove types, including latex, nitrile, vinyl, and others, each with its unique features and applications. One of the key drivers of the medical gloves market is the increasing focus on infection prevention and control in healthcare settings. The heightened awareness of the importance of hand hygiene, especially in the wake of the pandemic, has led to a surge in demand for medical gloves worldwide. Healthcare facilities, including hospitals, clinics, and laboratories, require a steady and reliable supply of gloves to maintain safety protocols an...
Post a Comment
Read more

Frozen Foods Market Demand, Supply, Growth Factors, Latest Rising Trend and Forecast to 2032

 The Frozen Foods Market has experienced a significant transformation in recent years and continues to be a prominent and dynamic segment of the global food industry. As we move into 2033, this market remains a crucial part of modern lifestyles, offering a wide variety of convenient and preserved food options for consumers. The growth of the Frozen Foods Market is fueled by changing consumer preferences, technological innovations, and an ever-increasing demand for convenient, time-saving, and nutritious meal solutions. In 2033, the Frozen Foods Market is expected to continue its upward trajectory, as more consumers seek the benefits of frozen products. This market encompasses an extensive range of items, from frozen vegetables and fruits to ready-to-eat meals, appetizers, and desserts. The versatility and extended shelf life of frozen foods have made them an essential staple in many households. Consumers are drawn to the convenience of having quick, easy-to-prepare, ...
Post a Comment
Read more

Aircraft Tire Market Challenges, Drivers, Outlook, Growth Opportunities - Analysis to 2031

 ESOMAR-certified consulting firm Future Market Insights (FMI) has recently published a report on the global  aircraft tire market  for the forecast period 2021-2031. According to the report, the market is expected to post impressive gains, expanding at a CAGR exceeding  6%  throughout the forecast period. Increasing production of narrowbody and widebody aircrafts are spurring demand. The market posted steady growth in historical period, backed by the high demand of bias ply aircraft ties from military aviation industry. Consistent demand for narrowbody aircrafts backed by the high demand from defense and military sector across the U.S., India, China, and Germany bolstered the market growth. Request a Sample of this Report @   https://www.futuremarketinsights.com/reports/sample/rep-gb-6112 Competitive advantage of bias ply over radial ply in providing higher strength, stability and ground traction will continue to fuelling the demand for former over t...
Post a Comment
Read more