Electric Boat and Ship Market Overview
The electric boat and ship market was valued at USD 4,581.3 million in 2020, and it is expected to reach USD 9010.5 million by 2026, registering a CAGR of 12.65% during the forecast period, 2021-2026. The growing government focus on encouraging consumers to adopt eco-friendly boats and ships to meet environmental rules and regulations anticipated to propel demand in the market. In addition, rising interest among electric vehicle (EV) manufacturers to capture the growing market by increasing the production of electric boats is expected to supplement the growth of the market during the forecast period.
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Electric Boat and Ship Market – Geographical Overview
Europe is expected to hold the largest electric boat and ship market share
Germany is a significant contributor to market growth in the region. The growing popularity of electric recreational and leisure vessels in marine tourism, water adventures, and fishing activities in the region is expected to propel regional market growth. In addition, the United Kingdom became the first country in major G7 countries to target net-zero greenhouse gas emissions by 2050, which includes the adoption of electric boats and ships.
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Key Highlights of the Electric Boat and Ship Market
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List of Key Players in the Electric Boat and Ship Market
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Mordor Intelligence has segmented the global electric boat and ship market on the basis of propulsion type, battery type, carriage type, and geography:
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