Global Electric Pontoon Boats Market 2023-2030

Global Electric Pontoon Boats Market 2023-2030

Global electric pontoon boats market is anticipated to grow at a considerable CAGR of 5.0% during the forecast period. The market is growing owing to various factors. For instance, there is increasing demand for eco-friendly and sustainable watercrafts, as electric boats produce zero emissions and have a low environmental impact, and there is rising interest in recreational boating and water sports activities, particularly among younger generations. Additionally, advancements in electric motor and battery technology are also making electric pontoon boats more efficient, reliable, and affordable. Hence, supporting the market’s growth.

Segmental Outlook

The global electric pontoon boats market is segmented by motor type and application. Based on motor type, the market is sub-segmented into inboard motor and outboard motor. Based on application, the market is sub-segmented into sports, fishing, and others such as cruising, water transportation, and water safety and rescue, among others. Among applications, the others segment is expected to hold the largest market share, followed by fishing, since cruising, family outings, and other water activities are becoming more common and widespread.

The Outboard Motor Segment Holds a Prominent Share in the Global Electric Pontoon Boats Market

Based on motor type, the market is sub-segmented into inboard motor and outboard motor. Among these, the outboard motor segment is expected to hold the largest market share. In general, outboard motors are more commonly used in electric pontoon boats than inboard motors. This is because outboard motors are easier to install and maintain, and they provide better maneuverability and speed control. Additionally, the weight of the outboard motor is not carried by the boat itself, which allows for more efficient use of space and weight distribution on the pontoon boat. However, there are some electric pontoon boats that use inboard motors, particularly in larger and more luxurious models where space and design are a priority.

Regional Outlook

The global electric pontoon boats market is segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the rest of the world (the Middle East and Africa and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among the regions, the North American region is anticipated to generate prominent market share. Additionally, the Asia-Pacific market is predicted to grow significantly owing to the growth of tourism in countries such as China and India. Additionally, companies operating in the Asia-Pacific pontoon boat market include Sun Tracker, Apex Marine, and Brunswick Corporation, which are expanding their presence in the region to capitalize on the growing market potential.

The North American Region is Expected to Dominate the Global Electric Pontoon Boats Market

North America has the biggest pontoon boat market for several reasons. Pontoon boats were originally developed in the United States, and the technology has been refined and improved over the years by American manufacturers. As a result, North America has a long history and tradition of pontoon boat manufacturing and usage. Additionally, the region has a vast network of waterways, including lakes, rivers, and coastal areas, which makes pontoon boats a popular choice for recreational boaters and fishermen. Moreover, the North American market is driven by a strong economy, increasing disposable income, and a high level of interest in leisure and outdoor activities, all of which contribute to a robust demand for pontoon boats. Examples of companies that are contributing to the growth of the pontoon boat market in North America include Brunswick Corporation, the parent company of popular pontoon boat brands such as Harris, Crestliner, and Lowe, which has reported significant sales growth in recent years. Other major players in the market include Godfrey Marine, Avalon Pontoon Boats, and Bennington Marine. These companies offer a wide range of pontoon boat models and styles to suit various needs and preferences, from basic recreational models to high-end luxury boats with advanced features and amenities. The popularity of pontoon boats in North America is also reflected in the growth of rental companies and tour operators that offer pontoon boat experiences to tourists and locals alike.

Market Players Outlook

The major companies serving the global electric pontoon boats market include Duffy Electric Boat Company, Forza X1, Hercules Electric Marine, JT Boats, Kennedy Pontoons Inc., and others. These companies are considerably contributing to the market’s growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, investments, and new product launches to stay competitive in the market. For instance, in October 2022, Forza X1, Inc., designed the FX3, an electric pontoon boat, to add to its portfolio. The fiberglass hull platform from the company's FX1 electric boat models issued for the FX3 pontoon boat.

The Report Covers-

Market value data analysis for 2023 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global electric pontoon boats market. Based on the availability of data, information related to new product launches and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market entry and market expansion strategies.

Competitive strategies by identifying ‘who stands where’ in the market.