Electric Boat Market is predicted to reach USD 12,552.2 million at a CAGR of 9.6% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Electric Boat Market”.

The Electric boat market is estimated to register a CAGR of 9.6% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Electric boat market—Vision Marine Technologies Inc., Twin Vee PowerCats, Ruban Bleu, Navalt, Aquawatt, RAND Boats, Duffy Electric Boat Company, GardaSolar srl, Nautique Boat Company, Inc. Candela Technology A, Pure Watercraft, X Shore, Damni Yachts, and others.

Market Highlights

The global Electric boat market is accounted for to register a CAGR of 9.6% during the forecast period and is estimated to reach USD 12,552.2 million by 2032.

Electric boats, also known as electric-powered boats, are water vessels that are propelled by electric motors instead of traditional internal combustion engines. These boats utilize electric motors for propulsion, which are powered by onboard batteries or other electrical power sources. These motors convert electrical energy into mechanical energy to drive the boat through the water. Electric boats produce zero emissions during operation, eliminating air & water pollution, as well as reducing noise pollution.

Segment Analysis

The global Electric boat market has been segmented based on propulsion type, battery type, carriage type, and range.

Based on propulsion type, the global electric boat market has been segmented into hybrid, and pure electric. The hybrid segment was attributed to holding the largest market share in 2022 with a market share of ~69.9% revenue as estimated by MRFR analysts.

Based on battery type, the global electric boat market has been segmented into lithium-ion battery, lead-acid battery, and nickel-based battery. The lithium-ion battery segment has the highest share.

Based on carriage type, the global electric boat market has been segmented into passenger, and cargo. The passenger segment is leading.

Based on range, the global electric boat market has been segmented into short-range, medium-range, and long-range. The medium-range segment is the leading segment.

Access full report @ https://www.marketresearchfuture.com/reports/electric-boat-market-11628

Regional Analysis

The global Electric boat market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Electric boat market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The electric boat market in Europe is growing because people are concerned about the environment and want sustainable transportation. Governments in Europe are supporting the development of electric boats by offering incentives, subsidies, and regulations. The European Union's Green Deal initiative promotes sustainable transportation, including electric boats.

Asia Pacific market accounts for the second-largest market share. The electric boat market is growing in the Asia-Pacific region because of several reasons. This region has some of the busiest waterways, coastal areas, and rapidly growing economies, which contribute to the increasing demand for electric boats. One of the main reasons for the adoption of electric boats in this region is the focus on environmental sustainability.

The North America Electric Boat Market is expected to grow at the fastest CAGR between 2022 and 2032. The electric boat market is growing in the North America region because of several reasons. This region has some of the busiest waterways, coastal areas, and rapidly growing economies, which contribute to the increasing demand for electric boats. One of the main reasons for the adoption of electric boats in this region is the focus on environmental sustainability.

Key Findings of the Study

• The global Electric boat market is expected to reach USD 12,552.2 million by 2032, at a CAGR of 9.6% during the forecast period.


• The Europe region accounted for the fastest-growing global market, The European Union's Green Deal initiative promotes sustainable transportation, including electric boats. France, the UK, and Germany are expected to dominate the electric boat market in Europe because they have long coastlines, inland waterways, and a strong boating culture.


• Based on propulsion type, the hybrid segment was attributed to holding the largest market in 2022, with an approximate market share of 69%.


• Vision Marine Technologies Inc., Twin Vee PowerCats, Ruban Bleu, Navalt, Aquawatt , RAND Boats , Duffy Electric Boat Company , GardaSolar srl, Nautique Boat Company, Inc. Candela Technology A, Pure Watercraft, X Shore , Damni Yachts, are the key market players.