The global electric boat and ship market is estimated to grow at a CAGR of over 10% during the forecast period. Nowadays, the transport sector represents one of the major sources of pollution. Air pollution and greenhouse gas emissions are of major concern which leads to global warming and impacts human health. To overcome such issues there are various alternatives such as electric vehicles that replace Internal Combustion Vehicles (ICVs); similarly, electric boats also act as an alternative to the traditional fuel-based boats, which also reduces the use of fossil fuels and noise. River transport allows connecting isolated areas and is a cost-efficient way to move passengers and freight. For instance, in 2017-2018, in Colombia, around 3.4 million tons of freight and 3.7 million passengers were mobilized through river transport. The rise in the river transports tends to drive the growth of the global electric boat and ship market during the forecast period.
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However, there are certain limitations of the electric boat and ship market such as autonomy, long charging time, and battery degradation which are projected to hamper the growth of the market during the forecast period. The lack of autonomy is due to the restricted capacity of the batteries, which leads to the necessity of managing the energy consumption of the electric boats. Besides, continuous technological innovations in the electric boats, as well as batteries, are projected to provide ample opportunities to the market growth during the forecast period.
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Global Electric Boat and Ship Market by Product Type
Global Electric Boat and Ship Market by Battery Type
Global Electric Boat and Ship Market by Carriage Type
Rest of Europe
Rest of Asia-Pacific
Rest of the World
Canadian Electric Boat Co.
Duffy Electric Boat Co.
Echandia Marine AB
General Dynamics Electric Boat
Grove Boats SA
NavAlt Solar & Electric Boats Pvt. Ltd.
Norwegian Electric Systems AS
RAND Boats ApS
Soel Yachts B.V.
Symphony Boat Co.
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