Electric Boats Market by End Use (Recreational Boats, Commercial Boats, Military & Law Enforcements Boats), Boat Power (< 5kW, 5-30kW, >30kW), Boat Size (< 20ft, 20-50ft, >50ft), Power Source, Hull Design and Region - Global Forecast to 2030

Electric Boats Market by End Use (Recreational Boats, Commercial Boats, Military & Law Enforcements Boats), Boat Power (< 5kW, 5-30kW, >30kW), Boat Size (< 20ft, 20-50ft, >50ft), Power Source, Hull Design and Region - Global Forecast to 2030

The Electric Boats Market size is projected to grow from USD 3.3 billion in 2023 to USD 7.7 billion by 2030, at a CAGR of 13.0% from 2023 to 2030. The market is expected to be driven by the increasing demand for advanced electrical systems in electric boats

The Recreational Boating segment is expected to have largest market share during the forecast period.

One of the primary reasons for the growth of electric boats in the recreational boating market is the increasing emphasis on environmental sustainability. Electric boats produce zero emissions during operation, which is appealing to environmentally conscious consumers who want to reduce their carbon footprint and minimize the impact on water ecosystems.

The <5 kW range is projected to lead the market during the forecast period.

Many low-power electric boats are designed for use on calm waters, such as urban lakes, rivers, and inland waterways. These boats are well-suited for leisurely cruising, sightseeing, and recreational activities in areas where high speeds and long ranges are not necessary. Low-power electric boats tend to have shorter ranges compared to high-power boats. However, for activities like short tours, fishing trips, or simple relaxation on the water, the range of a low-power electric boat is often sufficient. Users may not require long-distance travel capabilities.

The <20 ft is projected to lead Electric Boats Market during the forecast period.

Smaller electric boats are often well-suited for urban and recreational use, such as cruising on calm lakes, rivers, and canals. They are ideal for short trips, leisurely sightseeing, and enjoying time on the water close to urban centers. Electric boats under 20 feet align with the growing emphasis on sustainable transportation options. They emit zero emissions and have a lower environmental impact compared to boats powered by fossil fuels, making them appealing to environmentally conscious consumers.

North America is expected to account for the largest market share in 2023

The Electric Boats Market has been studied for the regions North America, Europe, Asia Pacific, and Rest of the World. North America is expected to have the highest market share during the forecast period. Norway is one of the fastest-growing countries in the Electric Boats Market . All major countries in the region are major contributors to the overall North American market based on regulations supporting the shift towards electrification or supporting infrastructure.

The break-up of the profile of primary participants in the Electric Boats Market :

By Company Type: Tier 1 – 55%, Tier 2 – 25%, and Tier 3 – 20%

By Designation: C Level – 50%, Director Level – 25%, Others-25%

By Region: North America – 47%, Europe – 21%, Asia Pacific – 21%, Rest of the World – 11%.

Prominent companies include Brunswick Corporation (US), Groupe Beneteau (France), Greenline Yachts (Slovenia), Candela (Sweden), and Silent Yachts (Austria). among others.

Research Coverage:

The report segments the Electric Boats Market By End Use (Recreational Boats, Commercial Boats, Military & Law Enforcements Boats), By Boat Power (< 5kW, 5-30kW, >30kW), by Boat Size (< 20ft, 20-50ft, >50ft), By Power Source, By Hull Design and by Region- Global Forecast to 2030. The Electric Boats Market has been studied in North America, Europe, Asia Pacific, and the Rest of the World. The scope of the report covers extensive information covering market overviews, such as drivers, restraints, challenges, and opportunities, that drive the growth in the market. Analysis of key players in the industry providing business overviews, products, solutions, and services, key strategies, recent developments, and new product & service launches associated with the Electric Boats Market is also covered in the report. An extensive competitive analysis of the Key players and the up-and-coming startups in the Marine Electric Vehicle Ecosystem is also covered in the report.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Electric Boats Market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on Electric Boats offered by the top players in the market

Market Drivers: Implementation of maritime Emission regulations laws, Development of advanced battery technologies are driving factors for the market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Electric Boats Market

Market Development: Comprehensive information about lucrative markets – the report analyses the Electric Boats Market across varied regions

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Electric Boats Market

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players in the Electric Boats Market