Dublin, Feb. 07, 2025 (GLOBE NEWSWIRE) — The “Electric Boats Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F” report has been added to ResearchAndMarkets.com’s offering.
The Electric Boats Market was valued at USD 3.80 billion in 2024, and is expected to reach USD 7.79 billion by 2030, rising at a CAGR of 12.77%. The rising urbanization, improved standards of living, and increased disposable income are driving the demand for recreational boating activities. Additionally, the growth in tourism, the rising trend of boat leasing, and increasing boat transportation needs are further boosting the demand for electric boats worldwide. These factors are expected to significantly contribute to the substantial growth of the electric boat market.
In accordance, the International Maritime Organization (the U.N. regulatory arm for maritime transport) has committed to slashing ships’ carbon intensity by 40 percent as soon as 2030, a goal that the CLIA has likewise pledged. Stricter local regulations are also adding pressure: In Norway, greenhouse gas-emitting ships will be banned from its environmentally sensitive World Heritage fjords as of 2026, while local ports, most recently NYC, are moving to mandate that enabled cruise ships plug into shoreside power while in port.
Europe & CIS dominated the global electric boats market in 2024, driven by strong regulatory support, environmental awareness, and a growing demand for sustainable recreational activities. The European Union has implemented stringent environmental regulations, encouraging the adoption of eco-friendly technologies, including electric boats. With a high level of environmental consciousness, European consumers increasingly prefer sustainable alternatives to traditional gasoline-powered boats.
Countries like Germany, France, the Netherlands, and the UK have seen significant growth in electric boating due to an increasing number of electric boat manufacturers and extensive charging infrastructure. The region’s strong maritime tradition, combined with the availability of water bodies for recreational use, further boosts the market’s potential. Additionally, Europe’s commitment to reducing carbon emissions and promoting green technologies contributes to the rise in electric boat adoption. As a result, Europe remains the leading market for electric boats, with continued innovation and investment expected to fuel further growth in the coming years.
Market Drivers
- Environmental Concerns and Sustainability Initiatives
- Advancements in Battery Technology
- Government Incentives and Regulations
Key Market Challenges
- High Initial Cost
- Limited Range and Charging Infrastructure
Key Market Trends
- Advancements in Battery Technology
- Integration of Smart Technologies
Key Electric Boat Players Profiled
- Brunswick Corporation
- Groupe Beneteau
- Greenline Yachts
- Candela Technology AB
- Silent Yachts
- Boote Marian GmbH
- Duffy Electric Boat Company
- Vision Marine Technologies Inc.
- Grove Boats SA
- Ganz Boats GmbH
Report Scope
Electric Boats Market, By Boat Size:
- Less than 20ft
- 20-50ft
- More than 50ft
Electric Boats Market, By Boat Power:
- Less than 5kW
- 5-30kW
- More than 30kW
Electric Boats Market, By End Use:
- Recreational Boats
- Commercial Boats
- Military & Law Enforcements Boats
Electric Boats Market, By Region:
- North America
- Europe & CIS
- Asia-Pacific
- Middle East & Africa
- South America
Key Attributes
| Report Attribute | Details |
| No. of Pages | 185 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $3.8 Billion |
| Forecasted Market Value (USD) by 2030 | $7.79 Billion |
| Compound Annual Growth Rate | 12.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/h6laei
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