Market Overview:
The global marine electric vehicles market is expected to grow at a CAGR of 10.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for electric vehicles, rising concerns over environmental pollution, and government initiatives towards promoting electric mobility. The battery electric vehicle segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the increasing demand for zero-emission vehicles and growing awareness about the benefits of using battery-powered boats. In terms of application, small recreational boats are expected to hold a major share of the marine electric vehicles market during the forecast period. This can be attributed to their low cost and easy operability as compared with other types of vessels such as commercial and high end leisure boats.
Product Definition:
Marine electric vehicles are boats that run on electricity instead of gasoline or diesel. They are becoming increasingly popular because they are more environmentally friendly and much quieter than traditional boats. Marine electric vehicles also have the potential to be much faster than gas-powered boats, making them a great option for racing enthusiasts.
Battery Electric Vehicle:
Electric Vehicles (EV) are powered by electricity and have no internal combustion engine. They are usually battery-powered, but some plug-in hybrid electric vehicles use both batteries and fuel cells for power. EVs run on a special kind of track, which is referred to as an electric motor. The source of energy used to power the vehicle can either be fossil fuels such as diesel or petrol or renewable sources such as solar energy, wind energy or even wave motion.
Plug-In Hybrid Electric Vehicles:
Plug-in Hybrid Electric Vehicles (PHEV) are hybrid electric vehicles that use more than one source of energy to power the vehicle. PHEVs can be used for short road trips as well as for longer commutes. The plug-in hybrid electric vehicles segment is expected to witness significant growth over the forecast period owing to increasing government regulations on reducing carbon emissions and incentives such as tax credits & rebates offered by various governments around the world.
Application Insights:
On the basis of application, the market is segmented into small recreational boats, on-water commercial and high end leisure boats, underwater leisure and undersea autonomous vehicles (UUVs). The UUVs segment is anticipated to witness significant growth over the forecast period owing to increasing government initiatives for marine conservation. For instance, in 2017 China¢â‚¬â„¢s Ministry of Culture announced plans for a nationwide marine protection program which will include restrictions on fishing activities in some areas as well as an increase in patrols to protect endangered species. Such initiatives are expected to drive demand for electric vehicles across various applications including small recreational boats.
The other application includes trucks used by military personnel or civil defense organizations such as firefighters or lifeguards who have access to large batteries that can provide long range power supply during emergencies or natural disasters when normal electricity systems fail.
Regional Analysis:
Asia Pacific regional market accounted for the largest share in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing increasing investments in marine infrastructure development, which is anticipated to boost product demand over the forecast period. Increasing disposable income of consumers coupled with rising recreational activities such as fishing and scuba diving are also driving regional product demand. Furthermore, favorable government regulations aimed at promoting electric vehicles across countries such as China and India are further expected to drive growth during the forecast period.
North America region was valued at USD X million in 2017 owing to growing environmental concerns towards carbon emissions from conventional fuel engines used for watercraft transportation. Growing awareness regarding COVID-19 infection among North American population has resulted into increased adoption of electric vehicles across various applications including small recreational boats, on-water commercial vessels, high end leisure boats under 10 meters length and underwater leisure craft exceeding 10 meters length (submersible).
Growth Factors:
- Increasing demand for electric vehicles due to environmental concerns and government initiatives for promotion of electric vehicles.
- Marine Electric Vehicles are more fuel efficient as compared to traditional marine vessels, which will lead to increase in their adoption over the forecast period.
- Growing popularity of yachts and luxury boats among the affluent population is expected to boost the demand for Marine Electric Vehicles market during the forecast period.
- Technological advancements in electric propulsion systems are anticipated to create new opportunities for growth of Marine Electric Vehicles market over the next few years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine Electric Vehicles Market Research Report
By Type
Battery Electric Vehicle, Plug-In Hybrid Electric Vehicles, Hybrid Electric Vehicles
By Application
Small Recreational Boats, On-Water Commercial and High End Leisure Boats, Underwater Leisure, Underwater AUV
By Companies
Boesch Motorboote, Duffy Electric Boat, Ruban Bleu, Torqeedo, Triton Submarines, Corvus Energy, Electrovaya, Saft, Tamarack Lake Electric Boat, Boesch Motorboote
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
199
Number of Tables & Figures
140
Customization Available
Yes, the report can be customized as per your need.
Global Marine Electric Vehicles Market Report Segments:
The global Marine Electric Vehicles market is segmented on the basis of:
Types
Battery Electric Vehicle, Plug-In Hybrid Electric Vehicles, Hybrid Electric Vehicles
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
Small Recreational Boats, On-Water Commercial and High End Leisure Boats, Underwater Leisure, Underwater AUV
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:
- Boesch Motorboote
- Duffy Electric Boat
- Ruban Bleu
- Torqeedo
- Triton Submarines
- Corvus Energy
- Electrovaya
- Saft
- Tamarack Lake Electric Boat
- Boesch Motorboote
Highlights of The Marine Electric Vehicles 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:
- Battery Electric Vehicle
- Plug-In Hybrid Electric Vehicles
- Hybrid Electric Vehicles
- By Application:
- Small Recreational Boats
- On-Water Commercial and High End Leisure Boats
- Underwater Leisure
- Underwater AUV
- 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 Marine Electric Vehicles 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?
Marine Electric Vehicles are electric vehicles that are designed for use on water. They may be powered by batteries or a marine engine.
Some of the major companies in the marine electric vehicles market are Boesch Motorboote, Duffy Electric Boat, Ruban Bleu, Torqeedo, Triton Submarines, Corvus Energy, Electrovaya, Saft, Tamarack Lake Electric Boat, Boesch Motorboote.
The marine electric vehicles market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Marine Electric Vehicles 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 Marine Electric Vehicles Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Marine Electric Vehicles 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 Marine Electric Vehicles 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 Marine Electric Vehicles Market Size & Forecast, 2018-2028
4.5.1 Marine Electric Vehicles Market Size and Y-o-Y Growth
4.5.2 Marine Electric Vehicles Market Absolute $ Opportunity
Chapter 5 Global Marine Electric Vehicles 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 Marine Electric Vehicles Market Size Forecast by Type
5.2.1 Battery Electric Vehicle
5.2.2 Plug-In Hybrid Electric Vehicles
5.2.3 Hybrid Electric Vehicles
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Marine Electric Vehicles 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 Marine Electric Vehicles Market Size Forecast by Applications
6.2.1 Small Recreational Boats
6.2.2 On-Water Commercial and High End Leisure Boats
6.2.3 Underwater Leisure
6.2.4 Underwater AUV
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Marine Electric Vehicles 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 Marine Electric Vehicles 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 Marine Electric Vehicles Analysis and Forecast
9.1 Introduction
9.2 North America Marine Electric Vehicles 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 Marine Electric Vehicles Market Size Forecast by Type
9.6.1 Battery Electric Vehicle
9.6.2 Plug-In Hybrid Electric Vehicles
9.6.3 Hybrid Electric Vehicles
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 Marine Electric Vehicles Market Size Forecast by Applications
9.10.1 Small Recreational Boats
9.10.2 On-Water Commercial and High End Leisure Boats
9.10.3 Underwater Leisure
9.10.4 Underwater AUV
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 Marine Electric Vehicles Analysis and Forecast
10.1 Introduction
10.2 Europe Marine Electric Vehicles 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 Marine Electric Vehicles Market Size Forecast by Type
10.6.1 Battery Electric Vehicle
10.6.2 Plug-In Hybrid Electric Vehicles
10.6.3 Hybrid Electric Vehicles
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 Marine Electric Vehicles Market Size Forecast by Applications
10.10.1 Small Recreational Boats
10.10.2 On-Water Commercial and High End Leisure Boats
10.10.3 Underwater Leisure
10.10.4 Underwater AUV
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 Marine Electric Vehicles Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Marine Electric Vehicles 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 Marine Electric Vehicles Market Size Forecast by Type
11.6.1 Battery Electric Vehicle
11.6.2 Plug-In Hybrid Electric Vehicles
11.6.3 Hybrid Electric Vehicles
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 Marine Electric Vehicles Market Size Forecast by Applications
11.10.1 Small Recreational Boats
11.10.2 On-Water Commercial and High End Leisure Boats
11.10.3 Underwater Leisure
11.10.4 Underwater AUV
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 Marine Electric Vehicles Analysis and Forecast
12.1 Introduction
12.2 Latin America Marine Electric Vehicles 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 Marine Electric Vehicles Market Size Forecast by Type
12.6.1 Battery Electric Vehicle
12.6.2 Plug-In Hybrid Electric Vehicles
12.6.3 Hybrid Electric Vehicles
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 Marine Electric Vehicles Market Size Forecast by Applications
12.10.1 Small Recreational Boats
12.10.2 On-Water Commercial and High End Leisure Boats
12.10.3 Underwater Leisure
12.10.4 Underwater AUV
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) Marine Electric Vehicles Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Marine Electric Vehicles 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) Marine Electric Vehicles Market Size Forecast by Type
13.6.1 Battery Electric Vehicle
13.6.2 Plug-In Hybrid Electric Vehicles
13.6.3 Hybrid Electric Vehicles
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) Marine Electric Vehicles Market Size Forecast by Applications
13.10.1 Small Recreational Boats
13.10.2 On-Water Commercial and High End Leisure Boats
13.10.3 Underwater Leisure
13.10.4 Underwater AUV
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 Marine Electric Vehicles Market: Competitive Dashboard
14.2 Global Marine Electric Vehicles Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Boesch Motorboote
14.3.2 Duffy Electric Boat
14.3.3 Ruban Bleu
14.3.4 Torqeedo
14.3.5 Triton Submarines
14.3.6 Corvus Energy
14.3.7 Electrovaya
14.3.8 Saft
14.3.9 Tamarack Lake Electric Boat
14.3.10 Boesch Motorboote
