Pune,India, June 27, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “40-Ft Electric Boat Market Size Report, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2030 - COVID-19 Impact and Global Analysis – by Propulsion, Battery Type, Application, Voltage Architecture, Boat Type, and Geography”, the market is expected to grow from US$ 1.90 billion in 2023 to US$ 4.93 billion by 2030; it is estimated to register a CAGR of 14.6% from 2023 to 2030.
Download PDF Brochure: https://www.theinsightpartners.com/sample/TIPRE00029929/
Global 40-Ft Electric Boat Market Report Scope, Segmentations, Regional & Country Scope:
| Market Size Value in | USD 1.90 Billion in 2023 |
| Market Size Value by | USD 4.93 Billion by 2030 |
| Growth rate | CAGR of 14.6% from 2023 to 2030 |
| Forecast Period | 2023-2030 |
| Base Year | 2023 |
| No. of Pages | 203 |
| No. of Tables | 138 |
| No. of Charts & Figures | 103 |
| Historical data available | Yes |
| Segments covered | Propulsion, Battery Type, Application, Voltage Architecture, and Boat Type |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Frauscher Bootswerft GmbH & Co KG, Natural Yachts BV, ESMARIN LTD, Cockwells Modern & Classic Boatbuilding Ltd, and Navalt Inc |
Browse key market insights spread across 203 pages with 138 list of tables & 103 list of figures from the report, "40-Ft Electric Boat Market Forecast to 2030 - COVID-19 Impact and Global Analysis – – by Propulsion (Pure Electric, Hybrid, and Sail Electric), Battery Type (Nickel-Based, Lead-Acid, and Lithium-Ion), Application (Fishing, Recreational, and Others), Voltage Architecture (12 V, 24 V, and 48 V), Boat Type (Trawlers, Catamarans, Yachts, Power Cruisers, and Others), and Geography".
Global 40-Ft Electric Boat Market: Competitive Landscape and Key Developments
Wellington Electric Boat Building Company, Cockwells Modern & Classic Boatbuilding Ltd, Ruban Bleu, Ltsmarine, Quadrofoil D.O.O., Vision Marine, Technologies Inc., Rand Boats, Duffy Electric Boat Company, Frauscher, and Aquawatt are among the key 40-ft electric boat market players profiled in the report. Several other essential 40-ft electric boat market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which can help major players strategize their growth.
May 2023: BMW announced that along with Tyde unveiled a groundbreaking electric boat in Cannes. The Icon is a watercraft that represents a new kind of flagbearer.
In 2022: Groupe Beneteau and Vision Marine Technologies partnered for the development of full electric outboard-equipped boats.
Due to the rise in the number of high-net-worth individuals in European countries such as Germany, France, Spain, the UK, and Italy, there is a rise in cruising and yachting activities, which is contributing to the growth of the 40-ft electric boat market. As per data published by European Business Magazine, in August 2022, HNWIs spent extravagantly on vacations, unique experiences, and wellness tourism. Luxury yachts provide yoga, meditation, and spa treatments in their services.
To raise the adoption of electric boats, new charging infrastructure is being installed in various European countries. In June 2022, Aqua superPower announced that it had installed the first charging infrastructure in Sweden and Scandinavia at Lyckans Slip Marina. With this installation, Lyckans Slip wants to take a step toward sustainable marina management. In addition, the region consists of various market players that continuously work on developing new electric boats according to customers' needs. For instance, in December 2022, BENETEAU launched two new electric sailing yachts, the Oceanis 30.1 and the First 44. The new First 44 is a 48-feet long elegant and comfortable yacht. With this launch, the company is working on Groupe Beneteau's sustainability strategy of eco-friendliness and reducing carbon emissions. Thus, growing tourism, increasing installation of charging infrastructure, and new electric boat launches are fueling the 40-ft electric boat market growth in Europe.
The European Union has taken various initiatives to reduce carbon emissions. In 2017, European Commission published a report on the electrification of the transport system. The report states that the government set a goal to monitor small boats to meet the emissions standard and increase sales of electric boats. Also, it has set a target of having at least 25% of the small boats with an electric or fuel cell propulsion system by 2035. Further, by 2050, the European Commission aims to have no diesel-engine boats in the region. Such initiatives will create an opportunity for the Europe 40-ft electric boat market growth during the forecast period.
The tourism sector in Germany is growing tremendously. In May 2022, the World Travel and Tourism Council (WTTC) forecasted that the sector's contribution to GDP would be more than US$ 383.49 billion (EUR 364 billion) by 2023. The growing tourism in the country will also raise the watersport activity and cruising activity in the country, fueling the growth of the 40-ft electric boat market. Furthermore, the boat manufacturers in the country are developing boats that can be eco-friendly and will help reduce carbon emissions. For instance, in March 2023, ALVA Yachts introduced the OCEAN ECO 78. It is a 23.7 m catamaran with a fully electric drive, and it is also fuel-cell ready. The solar cells on the yacht provide up to 26 kWp and a battery bank capacity of up to 490 kWh. Thus, the growing tourism and developments by the market players will fuel the growth of the Germany 40-ft electric boat market during the forecast period.
Buy Premium Copy of 40-Ft Electric Boat Market Growth Report (2023-2030) at: https://www.theinsightpartners.com/buy/TIPRE00029929/
GLobal40-Ft Electric Boat Market: Propulsion Overview
Based on propulsion, the 40-ft electric boat market is segmented into pure electric, hybrid, and sail electric. The pure electric segment is expected to account for the largest share of the 40-ft electric boat market in 2023. Increasing focus on sustainability and rising environmental concerns have fueled the demand for pure electric boats across various applications, including leisure boating, water taxis, and small commercial vessels. With ongoing advancements in battery technology and infrastructure development, the pure electric segment is showing continued expansion and adoption as a cleaner and more sustainable alternative.
Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):
Electric Boat Market Forecast to 2028 - COVID-19 Impact and Global Analysis
Pontoon Boat Market Forecast to 2028 - COVID-19 Impact and Global Analysis
Deck Boat Market Forecast to 2028 - COVID-19 Impact and Global Analysis
Deep V Boat Market Forecast to 2028 - COVID-19 Impact and Global Analysis
Boat Anchor Market Forecast to 2028 - COVID-19 Impact and Global Analysis
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/40-ft-electric-boat-market
