Market Overview:
The global electric outboard motors market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for electric outboard motors for civil entertainment, municipal application, commercial application and other applications. Additionally, the growing awareness about the benefits of using electric outboard motors is also contributing to the growth of this market. Some of the major players operating in this market are Yamaha Motor Corporation (Japan), BRP Inc. (Canada), Honda Motor Co., Ltd.(Japan), Suzuki Motor Corporation (Japan) and Tohatsu Corporation (Japan).
Product Definition:
Electric outboard motors are small, electric-powered motors that attach to the transom of a boat and provide power to push or pull the boat. They are often used as an auxiliary motor for boats that already have an inboard gasoline or diesel engine, and they can be used for trolling, moving a boat in shallow water, or towing a water skier. Electric outboard motors are quiet and emissions-free, making them a popular choice for those who want to minimize their environmental impact.
Electric Outboard Propulsion Motors:
Electric outboard propulsion motors are used in personal watercraft for propelling the craft through water. They are also used to provide forward motion to stationary Personal Watercraft (PW) and can be either external or internal combustion engines.
The electric outboard propulsion motors market is driven by factors such as growing environmental concerns, increasing disposable income of consumers, and rising government initiatives towards energy conservation across the world.
Electric Outboard Trolling Motors:
Outboard motors are used in various applications such as small craft, yachts, and powerboats. The demand for these motors is increasing owing to the growing marine industry across the globe. Trolling motor is an electric outboard motor that consists of a main shaft with a fishing pole mount attached to it through a universal joint. It has an advantage over conventional inboards as it can be removed and shipped if necessary without any damage or loss of gear ratio.
Application Insights:
The civil entertainment application segment accounted for the largest share of over 50.0% in 2017. The segment is expected to witness significant growth owing to the rising demand from residential and commercial construction projects, such as hotels, restaurants and marinas on account of improved aesthetics coupled with enhanced functionality offered by these motors. Furthermore, growing urbanization along with increasing disposable income levels in developing countries including China, India and Brazil is anticipated to boost product demand over the forecast period.
The municipal application segment was valued at USD 636 million in 2017 owing to wide-scale adoption across U.S.
Regional Analysis:
North America is expected to be the largest regional market over the forecast period owing to high demand from commercial application segment. The U.S., in particular, is anticipated to witness significant growth on account of increasing marine tourism and recreational fishing activities across the region. Moreover, presence of a large number of manufacturers coupled with technological advancements in electric outboard motors will drive industry growth over the next eight years.
Asia Pacific is projected to be one of the fastest-growing regions during the same period owing to rapid industrialization and growing population along with rising disposable income levels in emerging economies such as China and India will boost product demand across various applications including civil entertainment, municipal application, commercial application for water transportation etc.; thereby driving overall industry growth over next eight years.
Growth Factors:
- Increasing demand for electric outboard motors from the marine industry as a result of the growing popularity of electric boats.
- The increasing demand for electric outboard motors from recreational boaters, who are looking to reduce fuel costs and emissions.
- The increasing availability of electric outboard motors in different power ratings, which is making them more accessible to a wider range of consumers.
- The development of more efficient and powerful electric motor technologies that are making electric outboards more competitive with gasoline-powered engines.
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Outboard Motors Market Research Report
By Type
Electric Outboard Propulsion Motors, Electric Outboard Trolling Motors
By Application
Civil Entertainment, Municipal Application, Commercial Application, Other
By Companies
Minn Kota, Torqeedo, CSM Tech, MotorGuide, AquaWatt, Suzhou Parsun Power Machine, ePropulsion Technology, Elco Motor Yachts, Krautler Elektromaschinen, Aquamot, Ray Electric Outboards
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
214
Number of Tables & Figures
150
Customization Available
Yes, the report can be customized as per your need.
Global Electric Outboard Motors Market Report Segments:
The global Electric Outboard Motors market is segmented on the basis of:
Types
Electric Outboard Propulsion Motors, Electric Outboard Trolling Motors
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Civil Entertainment, Municipal Application, Commercial Application, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Minn Kota
- Torqeedo
- CSM Tech
- MotorGuide
- AquaWatt
- Suzhou Parsun Power Machine
- ePropulsion Technology
- Elco Motor Yachts
- Krautler Elektromaschinen
- Aquamot
- Ray Electric Outboards
Highlights of The Electric Outboard Motors Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Electric Outboard Propulsion Motors
- Electric Outboard Trolling Motors
- By Application:
- Civil Entertainment
- Municipal Application
- Commercial Application
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electric Outboard Motors Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An electric outboard motor is a type of boat engine that uses electricity to power the propeller. Outboard motors are typically smaller and more powerful than inboard motors, which are used in boats with larger hulls.
Some of the major companies in the electric outboard motors market are Minn Kota, Torqeedo, CSM Tech, MotorGuide, AquaWatt, Suzhou Parsun Power Machine, ePropulsion Technology, Elco Motor Yachts, Krautler Elektromaschinen, Aquamot, Ray Electric Outboards.
The electric outboard motors market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Electric Outboard Motors Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Electric Outboard Motors Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Electric Outboard Motors Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Electric Outboard Motors Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Electric Outboard Motors Market Size & Forecast, 2020-2028
4.5.1 Electric Outboard Motors Market Size and Y-o-Y Growth
4.5.2 Electric Outboard Motors Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Electric Outboard Propulsion Motors
5.2.2 Electric Outboard Trolling Motors
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Civil Entertainment
6.2.2 Municipal Application
6.2.3 Commercial Application
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Electric Outboard Motors Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Electric Outboard Motors Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Electric Outboard Propulsion Motors
9.6.2 Electric Outboard Trolling Motors
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Civil Entertainment
9.10.2 Municipal Application
9.10.3 Commercial Application
9.10.4 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Electric Outboard Propulsion Motors
10.6.2 Electric Outboard Trolling Motors
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Civil Entertainment
10.10.2 Municipal Application
10.10.3 Commercial Application
10.10.4 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Electric Outboard Propulsion Motors
11.6.2 Electric Outboard Trolling Motors
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Civil Entertainment
11.10.2 Municipal Application
11.10.3 Commercial Application
11.10.4 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Electric Outboard Propulsion Motors
12.6.2 Electric Outboard Trolling Motors
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Civil Entertainment
12.10.2 Municipal Application
12.10.3 Commercial Application
12.10.4 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Electric Outboard Propulsion Motors
13.6.2 Electric Outboard Trolling Motors
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Civil Entertainment
13.10.2 Municipal Application
13.10.3 Commercial Application
13.10.4 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Electric Outboard Motors Market: Competitive Dashboard
14.2 Global Electric Outboard Motors Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Minn Kota
14.3.2 Torqeedo
14.3.3 CSM Tech
14.3.4 MotorGuide
14.3.5 AquaWatt
14.3.6 Suzhou Parsun Power Machine
14.3.7 ePropulsion Technology
14.3.8 Elco Motor Yachts
14.3.9 Krautler Elektromaschinen
14.3.10 Aquamot
14.3.11 Ray Electric Outboards
