Electric boats or electric ships, are vessels which are powered with an electric motor. The electric boat often use renewable energy sources such as wind turbines, solar panels and towed generators. Many boats take a hybrid approach with sails or diesel engines as a primary power source with electric motors as auxiliary power. The global electric boats market is expected to witness a significant growth during the forecast period owing to ban on the use of marine combustion engines in specific areas and increase in recreational activities across well-developed countries.This growth is primarily driven by Ban On the Use of Marine Combustion Engines in Specific Areas, Increase in Recreational Activities across Well-Developed Countries and Increasing Disposable Income and Higher Standards of Living.
Globally, a noticeable market trend is evident Increase in Awareness about Environmental Safety. Major Manufacturers, such as Frauscher Boats (Austria), Duffy Electric Boat Company (United States), RAND Boats ApS (Denmark), Echandia Marine AB (Sweden), GardaSolar s.r.l. (Italy), Lillebror Marine (Netherlands), Canadian Electric Boat Company (Canada), Quadrofoil d.o.o. (Slovenia), LTS Marine (Canada) and Symphony Boat Company (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
- Ban On the Use of Marine Combustion Engines in Specific Areas
- Increase in Recreational Activities across Well-Developed Countries
- Increasing Disposable Income and Higher Standards of Living
- Increase in Awareness about Environmental Safety
- High Cost and Concern Regarding Battery Operation
Rising Demand for Environmentally Friendly Vessels in Marine Industry and Government Supports Regarding Reducing Reliability over Fossil Fuels
Technical Challenges and Acceptance of an Electric Boat
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