Solar Boat Market By Battery Type (Lead-acid, Lithium-ion, Others), By Solar Panel Type (Monocrystalline, Polycrystalline), By Application (Passenger Boats, Cargo Boats, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
Solar boat or solar electric boats are marine vessels, are operated with battery power and have solar panels for charging the battery. Solar boats utilize solar energy to power the boats’ motors, navigation systems, and onboard electronic equipment. Solar panels mounted on the boat harvest solar energy from the sun and transfer it to a charge controller, which controls flow of electricity to rechargeable batteries, such as lithium-ion batteries. In addition, solar boats have several advantages, such as lower running costs, less maintenance, less environmental impact, and others.
Popularity of hybrid solar boat is increasing, owing to its reduced carbon emissions, high efficiency, and ability to offer greater range. Numerous market players are introducing new hybrid boat models to cater to the growing consumer demand, which supplements the growth of the market. For instance, in 2021, in Singapore, Bureau Veritas certified and classed Singapore’s first hybrid-powered ship. This ship is built and operated by Penguin Shipyard International. This hybrid ship is named as Penguin Tenaga, which is 15 meter long and is capable of entirely running in electric mode at 5 knots. In addition, solar panels installed on the roof of Penguin Tenaga provide electrical energy that is used to recharge mobile devices on board and supplements the vessel’s “hotel load”.
The growth of the global solar boat market is propelling due to introduction of stringent emission regulations, and growth in the marine tourism industry across the globe. However, less operational efficiency and high purchase and maintenance cost of solar boats are factors hampering the growth of the market. Furthermore, government support to promote adoption of electric and solar boat is expected to offer growth opportunities during the forecast period.
The solar boat market is segmented on the battery type, solar panel type, application, and region. By battery type, it is classified into lead acid, lithium-ion, and others. By solar panel type, it is categorized into monocrystalline and polycrystalline. By application, it is fragmented into passenger boats, cargo boats, and others. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the solar boat market analysis from 2021 to 2031 to identify the prevailing solar boat market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the solar boat market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global solar boat market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Battery Type
Lead-acid
Lithium-ion
Others
By Solar Panel Type
Monocrystalline
Polycrystalline
By Application
Passenger Boats
Cargo Boats
Others
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest Of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest Of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
RAND Boats ApS
ABB LTD
Aquawatt Green Marine Technologies
Boesch Motorboote AG
Corvus Energy
Duffy Electric Boat Company
ElectraCraft
Greenline Yachts
Grove Boats SA
NavAlt boats
Quadrofoil d.o.o.
Soel Yachts B.V.
Torqeedo GmbH
Vision Marine Technologies Inc.
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