Global Electric Boat and Ship Market to reach USD 10.5 billion by 2027. Global Electric Boat and Ship Market is valued approximately at USD 4.58 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 12.65% over the forecast period 2021-2027.

An electric boat is designed to carry out maritime tasks by using batteries rather than gasoline to propel the boat. Batteries used in electric boat are similar to the batteries used in electric vehicles. Electric boat and ship market are driven by the growing maritime tourism industry and rise in adoption of hybrid and electric propulsion technologies for retrofitting ships.

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Furthermore, increasing government support for the use of electric boats and ships to decrease emissions is expected to aid market growth over the forecast period. The 2030 Green Ship-K Promotion Strategy, which is a key component of South Korea’s plans to become carbon-neutral by 2050, focuses on the progress and wide use of low-carbon ship technologies, such as hydrogen fuel cells and propulsion systems. The programme tries to decrease shipping-related greenhouse gas emissions by 40% in the next 25 years and 70% by 2050. However, limited range and capacity of fully-electric ships, may impede market growth over the forecast period of 2021-2027.

Europe is predicted to have the highest market share, with significant growth expected over the projection period. Rising environmental laws and emission standards in Germany, along with the United Kingdom, is driving the adoption of electric boats and ships in the region. Furthermore, the rising popularity of electric recreational and leisure vessels in the region’s marine tourism, aquatic adventures, and fishing activities is projected to drive regional market growth.

Major market player included in this report are:

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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Propulsion type: Hybrid Pure Electric By Battery Type: Lead-acid Lithium-ion Nickel-based Batteries By Carriage type: Passenger Cargo By Region: North America U.S. Canada Europe UK Germany France Spain Italy ROE

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Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the World

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