An electric boatÂ consist of an electric motor driven by a battery pack. They are usually driven by lead acid, nickel cadmium or lithium ion batteries. The battery packs installed in an electric boat is either charged by plugging it into a renewable energy source installed on shore or by a charging system which is installed on-board such as solar panels. The global electric boat market was USD 7.26 billion in 2018 and is estimated to reach USD 13.80 billion by 2025 growing at a CAGR of 9.61% during the forecast period.
Growth by Region
North America has the largest share in the market due to increasing boating activity by the American people. Europe will also have major share in the market owing to the increasing recreational boating activities. Asia Pacific, Middle East & Africa will grow at a significant rate.
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Drivers vs Constraints
Increasing usage of electric boats for security purposes is major factor for the growth of the market. Growing outdoor activities such as fishing and boating are also driving the growth of the market. On the other hand, high initial costs of electric boats are hampering the growth of the market.
Industry Trends and Updates
Polaris Industries has acquired Boat Holdings, a privately held boat manufacturers
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Global Electric Boat Market â€“ by Type, Boat Size, Battery Type, Region â€“ Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2018 â€“ 2025)
1. Research Methodology
2. Executive Summary
3. Market Overview
3.2. Industry Value Chain Analysis
3.3. Porterâ€™s 5 Forces
4. Market Dynamics
7. Global Electric Boat Market Segmentation, Forecasts and Trends â€“ by Battery Type
7.1. Lead Acid
7.2. Lithium Ion
7.3. Nickel based batteries
8. Global Electric Boat Market Segmentation, Forecasts and Trends â€“ by Region
8.1. North America
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