Electric Inflatable Boats Market Size, Share, and Industry Analysis, By Type (Center Console, Side Console),By Application (Leisure Boat Work Boat), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Electric Inflatable Boats Market REPORT OVERVIEW

• 
• Request a Free Sample to learn more about this report

The global electric inflatable boats market size was USD 21 million in 2022 and market is projected to touch USD 54.85 million by 2031, exhibiting a CAGR of 11.1% during the projected period.

Electric boats are oceanic vessels that use electric propulsion. To achieve maximum speed, the above boats utilize battery power for rotor propulsion. Pure electric boats, hydrogen-based fuel cell electric boats, and hybrid electric boats are all options. An electric boat's main components include an electric charger, a battery bank, a controller, and an electric motor. Charges are controlled and managed by an electric charger based on the battery's capacity. The battery bank is in charge of storing energy to power electric boats. A transformer control system or operator is a piece of static electrical equipment that switches energy among two circuits. The motor controller directly converts direct current to alternating current, allowing boats to operate and providing improved orientation and control. Furthermore, electric boats use clean energy and emit no pollution. Electric boat batteries are equivalent to those utilized in electric vehicles.

COVID-19 Impact: Supply and Lockdown Limitations to Decline Market Advancement

The impact of the covid -19 pandemic has stemmed in the disrupted development and launch of electric inflatable boats and propulsion systems, a slowdown in key player operations, and a component shortage. The pandemic has caused supply chain disruptions, causing electric inflatable boats production to be delayed. The maritime sector has evolved to be an essential part of various countries' supply chains, and the Covid-19 disease outbreak had a significant impact on it. The maritime industry is reliant on maintaining, which was halted to protect individuals from SARS-CoV-2, posing significant challenges. Component shortages caused by regulations governing goods import and export have also delayed the production and start-up of electric inflatable boats market.

Despite the government's efforts to enhance economic circumstances, the boating industry is expected to grow significantly in 2021. Boating and fishing remain the most popular leisure activities in the United States, with nearly 100 million Americans going boating each year. People are trying to explore more water adventures as working remotely and flexible schedules gain popularity.

LATEST TRENDS 

"Increasing Awareness About Climatic Changes to Enhance Market Growth "

Increased pollution levels and increased awareness about climate change have incentivized many businesses around the world to use renewable technologies in their applications. These boats contribute to a reduction in toxic gas emissions into the atmosphere. Many governments around the world have enacted emissions regulations or standards to control air pollution and specify the maximum number of pollutants that can be emitted into the atmosphere. As a result, many countries have shifted to battery-powered technologies. Battery-powered boats emit no smoke, make no noise, and emit no odour. Electric boats cannot sail for long distances because they must frequently dock to recharge their batteries. The initial take-off of electric over diesel engines is a significant advantage. Despite the fact that electric engines can speed up quickly, they should be ignited at a specific speed in order to operate the boat and produce sufficient power.

Electric Inflatable Boats Market SEGMENTATION 

• 
• Request a Free Sample to learn more about this report

• By Type

Based on type; the market is divided into center console and side console

Center console type is the leading part of the type segment

• By Application

Based on the application; the market is divided into leisure boat, work boat

Leisure boat are the leading part of the application segment

DRIVING FACTORS

"Technological Advancements to Assist Market Development"

Increased boat commuting, boat renting for leisure, rising living standards, and urbanization all contribute to market growth. Technological developments in energy storage devices, as well as increased investments from the defense sector, play an important role in market growth. Furthermore, to meet consumer demand, numerous technological advancements such as remote monitoring systems, dashboard monitoring, and warning systems are integrated into electric boats.

"Expansion in the Marine Tourism to Foster Market Share "

Acceptance of electric boats due to increased environmental concerns and emission standards regulations, emergence in seaborne trade activities, and expansion in the marine tourism sector globally are the major drivers of growth in the global electric inflatable boats market share. Furthermore, expansion of charging is expected continue providing growth opportunities even during forecast period.

RESTRAINING FACTORS

Limited Battery Capacity Factors to Deplete Market Growth 

Limited battery capacity in electric inflatable boats and increased price of electric propulsion technology are the market restraints. Furthermore, during the anticipated period, the electric inflatable boats market share is anticipated to be hindered by difficult installation procedure and the maintenance cost and procedures.

Electric Inflatable Boats Market REGIONAL INSIGHTS

• 
• Request a Free Sample to learn more about this report

"Increased in Investment Opportunities to Foster Market Growth in North America "

In North America electric inflatable boats market growth is expected to grow significantly over the forecast period. This can be attributed to an increase in demand for the electric inflatable boats in the newly developed areas. Furthermore, an increase in investment opportunities in the automotives projects, accompanied by an increase in marine tourism, is expected to boost the electric inflatable boats market share within the region in the coming years.

KEY INDUSTRY PLAYERS

"Notable Players in the Industry to Promote Market Expansion "

The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact. This analysis examines the global and regional effects of the outbreak mostly on the market. The study describes the health diaphragm valves market share features, and market growth by type, industry, and customer sector.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

List of Market Players Profiled 

• Aqua Marina (U.S.)
• Aquawatt (Austria)
• Excel Boats (U.S.)
• Tropida (Greece)
• Sunfloat (U.S.)
• Zodiac (France)
• Tornado Boats (Denmark)
• Highfield Boats (U.S.)
• ASIS Boats (U.S.)
• RS Electric Boats (U.K.)
• Naviwatt (France)

REPORT COVERAGE

The industry report examines the global market, geographic and country-level market sizes, categorization market expansion, market share, competitor analysis, sales trends, influence of domestic and international market players, supply chain enhancement, trade laws, latest developments, possibilities analysis, business strategy market expansion analysis, product releases, area competitive landscape expanding, and technological advancements.

The report also examines the equipment market's current state of development and its overall market trend. It also separates the market by categories based on type and applications in order to conduct a detailed study and demonstrate the industry's characteristics and prospects. By taking into account a range of elements, such as growth rate, trends, industrial advancements, technologies, growth, distribution, and barriers, it offers a thorough assessment as well as a detailed analysis.

If the significant competitors or the predicted assessment of market dynamics change, the analysis would need to be updated. In terms of production, this study looked at consumption, manufacturing, annual growth, and share prices of manufacturers. It also delivers detailed information and cutting-edge assessment required to create an ideal strategic plan and outline the best path for speedy growth for all industry participants. With this knowledge, participants will be better able to build new strategies are focused on market prospects that would benefit them, thereby rendering their company ventures successful. The report on the automated oil cleaning tank system market informs the readers about its product lines, applications, and specifications. The research identifies key market players and highlights the strategies used by the businesses to strengthen their market position. The strong points, weaknesses, possibilities, and configurations of major manufacturers are comprehensively derived and cited in the report through extensive use of situation analysis tools. Every major player in this world market is profiled, including types of products, companies set up, revenues, skilled workforce, applications, and other requirements. The market has been steadily expanding in recent years and is expected to expand even further in the coming years.