Market Introduction
Electric outboard motor is a kind of propulsion system for boats which uses electric as power. Outboard electric motor, commonly referred to as “trolling motor” or “electric Outboard motor”. They are the most common motorized method of propelling small watercraft. As well as providing propulsion, outboards provide steering control, as they are designed to pivot over their mountings and thus control the direction of thrust. The skeg also acts as a rudder when the engine is not running. Unlike inboard motors, outboard motors can be easily removed for storage or repairs.
Electric Outboard Motors Market Summary
According to the new market research report “Global Electric Outboard Motors Market Report 2023-2029”, published by QYResearch, the global Electric Outboard Motors market size is projected to reach USD 0.33 billion by 2029, at a CAGR of 5.7% during the forecast period.
- Global Electric Outboard Motors MarketSize(US$ Million), 2018-2029
Based on or includes research from QYResearch: Global Electric Outboard Motors Market Report 2023-2029.
Market Drivers:
Environmental Regulations: Stringent environmental regulations and emission standards are driving the shift towards cleaner and greener propulsion options.
Cost Savings: Electric outboard motors can offer long-term cost savings in terms of fuel and maintenance, making them an attractive option for boat owners.
Noise Reduction: Electric motors are quieter than traditional engines, providing a more peaceful and enjoyable boating
Restraint:
Limited Range: Electric outboard motors typically have a more limited range compared to gasoline engines, which may restrict their use for certain applications.
Charging Infrastructure: The availability of charging infrastructure in remote or less developed areas can be a limitation.
Opportunity:
Growing Recreational Boating Market: The expanding recreational boating industry presents a significant opportunity for electric outboard motor manufacturers.
Emerging Markets: There is considerable growth potential in emerging markets as more people in developing countries take up recreational boating.
- Global Electric Outboard Motors Top12Players Ranking and Market Share（Continually updated）
Based on or includes research from QYResearch: Global Electric Outboard Motors Market Report 2023-2029.
According to QYResearch Top Players Research Center, the global key manufacturers of Electric Outboard Motors include Minn Kota, Torqeedo, MotorGuide, AquaWatt, ePropulsion, Ray Electric Outboards, CSM Tech, Pure Watercraft, Krautler Elektromaschinen, Aquamot, etc. In 2022, the global top 10 players had a share approximately 86% in terms of revenue.
- Electric Outboard Motors,Global Market Size, Split by Product Segment
Based on or includes research from QYResearch: Global Electric Outboard Motors Market Report 2023-2029.
In terms of product type, currently Below 20hp Electric Outboard Motors is the largest segment, hold a share of 55%.
- Electric Outboard Motors,Global Market Size, Split by ApplicationSegment
Based on or includes research from QYResearch: Global Electric Outboard Motors Market Report 2023-2029.
In terms of product application, Recreation Boat is the largest application, hold a share of 65%
- Electric Outboard Motors,Global Market Size, Split by Region
Based on or includes research from QYResearch: Global Electric Outboard Motors Market Report 2023-2029.
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