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Electric Boat Market By Type (Hybrid, Pure Electric), By Battery Type (Lithium-ion, Lead Acid, Nickel-based), By Runtime Type (Less than 7 hours, 7 to 12 hours, More than 12 hours), By Passenger Capacity (Less than 10 Passengers, 10 to 25 Passengers, More than 25 Passengers) – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027

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Published: | Report ID: 4913 | Report Format : PDF

Environmental concerns and strict laws for clean energy source is driving the electric boat market worldwide

Growing concern about the environment and advancements in battery technology have influenced industries across the globe to adopt green tech in their application. With traditional combustion-based boats emitting high pollution, there is a need for an alternate energy source to propel boats. The electric boat is one such industry where manufacturers are shifting towards batteries to improve the industry’s carbon footprint. Along with this, with the passage of the Paris Climate Agreement, many countries are forming laws to promote eco-friendly technologies, and the boating industry is not excluded.

On the other hand, the wider application of electric boats is hindered by the high prices of boats with longer runtime and higher speeds. However, the global electric boat market is expected to cross US$ 12.32 Bn by 2027, growing at a CAGR of 11.9% from 2019 to 2027.

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Market Snapshot

Battery Type Analysis

Manufacturers prefer new age lithium-ion battery technology

The use of lithium-ion batteries is the current trend in the boating industry. Lithium-ion batteries offer high energy density, longer life, and low maintenance, making it the preferred choice of the manufacturers such as Torqeedo to adopt lithium-ion batteries in their boats. In 2017, Torqeedo adopted BMW’s lithium-ion battery for its marine market. Further, light-weight, fast-charging, and low toxicity levels add to the advantages of using a lithium-ion battery in electric boats.

Although the lithium-ion battery has a number of advantages, battery manufacturers are focusing on new battery technology such as silicon-anode, solid-state, and other possible technologies to further improve their performance. As a result, these upcoming battery technologies are expected to reduce the market share of lithium-ion batteries in the future.

Regional Analysis

Increasing adoption in the U.S. made North America the largest regional market

North America was the largest regional market in 2018, owing to its high demand for electric boats. The regional population now prefer new electric boats for leisure and recreational purposes, including ski boats, pontoon boats, sailboats, and houseboats used for vacationing and for residential purpose in the long term. High local demand influenced corporate investment and partnership in the region.

For instance, in November 2019, Exro Technologies Inc. partnered with The Templar Marine Group Ltd. to optimize the performance of electrical engines. Such company-to-company partnerships helped to grow the market in 2018. Moreover, in April 2018, Canadian Electric Boat Co. won the “Future of the Industry” award from the AMQ. The award recognized the company’s development of boating and its vision for the marine industry.

Emerging partnership trend is keeping the market competitive

The electric boat market is fragmented, and market players are focusing on partnerships and improving their boat capability to bolster their market position. For instance, Torqeedo is using BMW i3 and i8 battery technologies for its electric boats. This new “Deep Blue 40 kWh” battery has 30% more capacity and an energy density of 144 Wh per kg. Further, in December 2018, Torqeedo displayed its 100 KW motor for its deep blue drive system.

List of Companies Covered:

  • General Dynamics Electric Boat
  • ElectraCraft Boats
  • Canadian Electric Boat Co.
  • Grove Boats SA
  • Duffy Electric Boat Company
  • Torqeedo GmbH
  • Boote Marian GmbH
  • Naviwatt
  • Ruban Bleu
  • Alfastreet Marine
  • Others

Key Industry Development:

  • Major industry players participate in the Boat Shows to promote their brands. For instance, Alfastreet Marine premiered its latest 28 ft. cabin cruise equipped with 100% electric drive.
  • In November 2018, Laguna 760 of Boote Marian GmbH was awarded “Excellent Product Design” from German Design Award. Laguna 760 is the next step towards electro-mobility and is equipped with a powerful electric motor, and offers excellent performance. With this recognition, the company expected to improve its market share in the coming years.
  • In August 2019, Canadian Electric Boat Co. expanded its Boisbriand plant to produce a photovoltaic roof for its Volt 180 and Fantail 217 models. Also, with this expansion, the new Phoenix model will be alive and powered by 2 BMW i3 batteries, Torqeedo’s deep blue twin engine.

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Historical & Forecast Period

The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.

Segmentation Type Segment (2017-2027; US$ Bn)

  • Hybrid
  • Pure Electric

 Battery Type (2017-2027; US$ Bn)

  • Lithium-ion
  • Lead Acid
  • Nickel-based

 Runtime Type (2017-2027; US$ Bn)

  • Less than 7 hours
  • 7 to 12 hours
  • More than 12 hours

 Passenger Capacity Segment (2017-2027; US$ Bn)

  • Less than 10 Passengers
  • 10 to 25 Passengers
  • More than 25 Passengers

 Geography Segment (2017–2027; US$ Bn)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • U.K.
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • India
    • China
    • Japan
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

The current report also comprehends qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to understand the global electric boat market better. In addition, the global report also comprises a graphical representation of the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.

Unique data points of this report

  • Recent trends across different regions in terms of development of the electric boat market
  • Attractive investment proposition for application segment as well as geography

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global EB Market
2.2. Global EB Market, by Type, 2018 (US$ Bn)
2.3. Global EB Market, by Battery Type, 2018 (US$ Bn)
2.4. Global EB Market, by Runtime, 2018 (US$ Bn)
2.5. Global EB Market, by Passenger Capacity, 2018 (US$ Bn)
2.6. Global EB Market, by Geography, 2018 (US$ Bn)

3. Market Dynamics
3.1. Introduction
3.1.1. Global Electric Boat (EB) Market Value, 2017 – 2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players

4. Global Electric Boat (EB) Market, by Type , 2017 – 2027 (US$ Bn)
4.1. Overview
4.2. Hybrid
4.3. Pure Electric

5. Global Electric Boat (EB) Market, by Battery Type, 2017 – 2027 (US$ Bn)
5.1. Overview
5.2. Lithium-ion
5.3. Lead Acid
5.4. Nickel-based

6. Global Electric Boat (EB) Market, by Runtime, 2017 – 2027 (US$ Bn)
6.1. Overview
6.2. Less than 7 hours
6.3. 7 to 12 hours
6.4. More than 12 hours

7. Global Electric Boat (EB) Market, by Passenger Capacity, 2017 – 2027 (US$ Bn)
7.1. Overview
7.2. Less than 10 Passengers
7.3. 10 to 25 Passengers
7.4. More than 25 Passengers

8. North America Electric Boat (EB) Market Analysis, 2017 – 2027 (US$ Bn)
8.1. Overview
8.1.1. North America EB Market Value and Growth, 2017 – 2027, (US$ Bn)
8.2. North America EB Market Value, By Type, 2017 – 2027 (US$ Bn)
8.2.1. Market Analysis
8.3. North America EB Market Value, By Battery Type, 2017 – 2027 (US$ Bn)
8.3.1. Market Analysis
8.4. North America EB Market Value, By Runtime, 2017 – 2027 (US$ Bn)
8.4.1. Market Analysis
8.5. North America EB Market Value, By Passenger Capacity, 2017 – 2027 (US$ Bn)
8.5.1. Market Analysis
8.6. North America EB Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
8.6.1. Market Analysis
8.6.2. U.S.
8.6.3. Rest of North America

9. Europe Electric Boat (EB) Market Analysis, 2017 – 2027 (US$ Bn)
9.1. Overview
9.1.1. Europe EB Market Value and Growth, 2017 – 2027, (US$ Bn)
9.2. Europe EB Market Value, By Type, 2017 – 2027 (US$ Bn)
9.2.1. Market Analysis
9.3. Europe EB Market Value, By Battery Type, 2017 – 2027 (US$ Bn)
9.3.1. Market Analysis
9.4. Europe EB Market Value, By Runtime, 2017 – 2027 (US$ Bn)
9.4.1. Market Analysis
9.5. Europe EB Market Value, By Passenger Capacity, 2017 – 2027 (US$ Bn)
9.5.1. Market Analysis
9.6. Europe EB Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
9.6.1. Market Analysis
9.6.2. U.K.
9.6.3. Germany
9.6.4. France
9.6.5. Rest of Europe

10. Asia Pacific Electric Boat (EB) Market Analysis, 2017 – 2027 (US$ Bn)
10.1. Overview
10.1.1. Asia Pacific EB Market Value and Growth, 2017 – 2027, (US$ Bn)
10.2. Asia Pacific EB Market Value, By Type, 2017 – 2027 (US$ Bn)
10.2.1. Market Analysis
10.3. Asia Pacific EB Market Value, By Battery Type, 2017 – 2027 (US$ Bn)
10.3.1. Market Analysis
10.4. Asia Pacific EB Market Value, By Runtime, 2017 – 2027 (US$ Bn)
10.4.1. Market Analysis
10.5. Asia Pacific EB Market Value, By Passenger Capacity, 2017 – 2027 (US$ Bn)
10.5.1. Market Analysis
10.6. Asia Pacific EB Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
10.6.1. Market Analysis
10.6.2. Japan
10.6.3. China
10.6.4. India
10.6.5. Rest of Asia Pacific

11. Rest of the World Electric Boat (EB) Market Analysis, 2017 – 2027 (US$ Bn)
11.1. Overview
11.1.1. Rest of the World EB Market Value and Growth, 2017 – 2027, (US$ Bn)
11.2. Rest of the World EB Market Value, By Type, 2017 – 2027 (US$ Bn)
11.2.1. Market Analysis
11.3. Rest of the World EB Market Value, By Battery Type, 2017 – 2027 (US$ Bn)
11.3.1. Market Analysis
11.4. Rest of the World EB Market Value, By Runtime, 2017 – 2027 (US$ Bn)
11.4.1. Market Analysis
11.5. Rest of the World EB Market Value, By Passenger Capacity, 2017 – 2027 (US$ Bn)
11.5.1. Market Analysis
11.6. Rest of the World EB Market Value, By Region, 2017 – 2027 (US$ Bn)
11.6.1. Market Analysis
11.6.2. Middle East & Africa
11.6.3. Latin America

12. Company Profiles
12.1. General Dynamics Electric Boat
12.2. ElectraCraft Boats
12.3. Canadian Electric Boat Co.
12.4. Grove Boats SA
12.5. Duffy Electric Boat Company
12.6. Torqeedo GmbH
12.7. Boote Marian GmbH
12.8. Naviwatt
12.9. Ruban Bleu
12.10. Alfastreet Marine

List of Figures

FIG. 1 Global Electric Boat (EB) Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global EB Market Segmentation
FIG. 4 Global EB Market, by Type, 2018, (US$ Bn)
FIG. 5 Global EB Market, by Battery Type, 2018, (US$ Bn)
FIG. 6 Global EB Market, by Runtime, 2018, (US$ Bn)
FIG. 6 Global EB Market, by Passenger Capacity, 2018, (US$ Bn)
FIG. 7 Global EB Market, by Geography, 2018 (US$ Bn)
FIG. 8 Global EB Market Value, 2017 – 2027, (US$ Bn)
FIG. 9 Attractive Investment Proposition, by Geography, 2018
FIG. 10 Global Market Positioning of Key EB Manufacturers, 2018
FIG. 11 Global EB Market Value Share, by Type, 2018 & 2027 (Value %)
FIG. 12 Global EB Market Value for Hybrid, 2017 – 2027, (US$ Bn)
FIG. 13 Global EB Market Value for Pure Electric, 2017 – 2027, (US$ Bn)
FIG. 15 Global EB Market Value Share by Battery Type, 2018 & 2027 (Value %)
FIG. 16 Global EB Market Value for Lithium-ion battery, 2017 – 2027, (US$ Bn)
FIG. 17 Global EB Market Value for Lead Acid battery, 2017 – 2027, (US$ Bn)
FIG. 18 Global EB Market Value for Nickel-based battery, 2017 – 2027, (US$ Bn)
FIG. 20 Global EB Market Value Share, by Runtime, 2018 & 2027 (Value %)
FIG. 21 Global EB Market Value for Less than 7 hours Runtime, 2017 – 2027, (US$ Bn)
FIG. 22 Global EB Market Value for 7 to 12 hours Runtime, 2017 – 2027, (US$ Bn)
FIG. 23 Global EB Market Value for More than 12 hours Runtime, 2017 – 2027, (US$ Bn)
FIG. 20 Global EB Market Value Share, by Passenger Capacity, 2018 & 2027 (Value %)
FIG. 21 Global EB Market Value for Less than 10 Passengers, 2017 – 2027, (US$ Bn)
FIG. 22 Global EB Market Value for 10 to 25 Passengers, 2017 – 2027, (US$ Bn)
FIG. 23 Global EB Market Value for More than 25 Passengers, 2017 – 2027, (US$ Bn)
FIG. 24 North America EB Market Value, 2017 – 2027, (US$ Bn)
FIG. 25 Europe EB Market Value, 2017 – 2027, (US$ Bn)
FIG. 26 Asia Pacific EB Market Value, 2017 – 2027, (US$ Bn)
FIG. 27 Rest of the World EB Market Value, 2017 – 2027, (US$ Bn)

List of Tables

TABLE 1 Market Snapshot: Global Electric Boat (EB) Market Value
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 Global EB Market, by Type, 2017-2027, (US$ Bn)
TABLE 5 Global EB Market, by Battery Type, 2017 – 2027, (US$ Bn)
TABLE 6 Global EB Market, by Runtime, 2017 – 2027, (US$ Bn)
TABLE 6 Global EB Market, by Passenger Capacity, 2017 – 2027, (US$ Bn)
TABLE 7 Global EB Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 8 North America EB Market, by Type, 2017-2027, (US$ Bn)
TABLE 9 North America EB Market, by Battery Type, 2017 – 2027, (US$ Bn)
TABLE 10 North America EB Market, by Runtime, 2017 – 2027, (US$ Bn)
TABLE 10 North America EB Market, by Passenger Capacity, 2017 – 2027, (US$ Bn)
TABLE 11 North America EB Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 12 Europe EB Market, by Type, 2017-2027, (US$ Bn)
TABLE 13 Europe EB Market, by Battery Type, 2017 – 2027, (US$ Bn)
TABLE 14 Europe EB Market, by Runtime, 2017 – 2027, (US$ Bn)
TABLE 14 Europe EB Market, by Passenger Capacity, 2017 – 2027, (US$ Bn)
TABLE 15 Europe EB Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 16 Asia Pacific EB Market, by Type, 2017-2027 (US$ Bn)
TABLE 17 Asia Pacific EB Market, by Battery Type, 2017 – 2027 (US$ Bn)
TABLE 18 Asia Pacific EB Market, by Runtime, 2017 – 2027 (US$ Bn)
TABLE 18 Asia Pacific EB Market, by Passenger Capacity, 2017 – 2027 (US$ Bn)
TABLE 19 Asia Pacific EB Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 20 Rest of the World EB Market, by Type, 2017 – 2027, (US$ Bn)
TABLE 21 Rest of the World EB Market, by Battery Type, 2017 – 2027, (US$ Bn)
TABLE 22 Rest of the World EB Market, by Runtime, 2017 – 2027, (US$ Bn)
TABLE 22 Rest of the World EB Market, by Passenger Capacity, 2017 – 2027, (US$ Bn)
TABLE 23 Rest of the World EB Market Value, by Region, 2017 – 2027, (US$ Bn)
TABLE 24 General Dynamics Electric Boat: Company Snapshot (Business Description; Battery Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 25 ElectraCraft Boats: Company Snapshot (Business Description; Battery Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 26 Canadian Electric Boat Co.: Company Snapshot (Business Description; Battery Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 27 Grove Boats SA: Company Snapshot (Business Description; Battery Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 28 Duffy Electric Boat Company: Company Snapshot (Business Description; Battery Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 29 Torqeedo GmbH: Company Snapshot (Business Description; Battery Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 30 Boote Marian GmbH: Company Snapshot (Business Description; Battery Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 31 Naviwatt: Company Snapshot (Business Description; Battery Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 32 Ruban Bleu: Company Snapshot (Business Description; Battery Type Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 33 Alfastreet Marine: Company Snapshot (Business Description; Battery Type Portfolio; Financial Information; Business Overview and Recent Development)

Frequently Asked Questions

What is the size of Electric Boat Market?

The market for Electric Boat is expected to reach US$ 12.32 Bn in 2027.

What is the Electric Boat Market CAGR?

The Electric Boat market is expected to see significant CAGR growth over the coming years, at 11.9%.

What is the Forecast period considered for Electric Boat Market?

The report is forecasted from 2019-2027.

What is the base year considered for Electric Boat Market?

The base year of this report is 2014.

Who are the major players in this market?

General Dynamics Electric Boat, ElectraCraft Boats, Canadian Electric Boat Co., Grove Boats SA, Duffy Electric Boat Company, Torqeedo GmbH,Boote Marian GmbH, Naviwatt, Ruban Bleu are some of the major players in the global market.

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