CHICAGO, Aug. 18, 2023 /PRNewswire/ — The Electric Boats Market size is projected to grow from USD 3.3 billion in 2023 to USD 7.7 billion by 2030, at a CAGR of 13.0% from 2023 to 2030 according to a new report by MarketsandMarkets™. The increase in need for sustainable recreational boating solutions is driving growth in the market.
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Browse in-depth TOC on “Electric Boats Market”
350 – Tables
70 – Figures
300 – Pages
Electric Boats Market Report Scope:
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Report Coverage |
Details |
|
Market Revenue in 2023 |
$3.3 billion |
|
Estimated Value by 2030 |
$7.7 billion |
|
Growth Rate |
Poised to grow at a CAGR of 13.0% |
|
Market Size Available for |
2019–2030 |
|
Forecast Period |
2023–2030 |
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Forecast Units |
Value (USD Million/Billion) |
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Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
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Segments Covered |
By End Use, Boat Power, Boat Size, Power Source and Region |
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Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
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Key Market Challenge |
Inadequate charging infrastructure |
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Key Market Opportunities |
Potential for battery charging via renewable energy sources |
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Key Market Drivers |
Clean and green boating solutions |
The Recreational boats segment is projected to hold the largest market share during the forecast period.
Based on the end use, the recreational boat segment is projected to hold the largest market share during the forecast period. Recreational boaters often value cost savings in the long run. Electric boats have lower operating and maintenance costs compared to traditional boats due to their simplified propulsion systems and reduced fuel and maintenance requirements. Electric boats are sparking innovation in boat design. Manufacturers are developing unique and stylish electric boat models that appeal to consumers who are looking for a modern and distinctive watercraft.
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