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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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Electric Boat and Ship Market – Segmentation
By Product Type
- Fully Electric
- Hybrid
By Battery Type
- Lead Acid
- Lithium-ion
- Others
By Carriage Type
- Passenger
- Cargo
Global Electric Boat and Ship Market – Segmentation by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
The Report Covers
- Market value data analysis of 2018 and forecast to 2025.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global electric boat and ship market. Based on the availability of data, information related to products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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