Assessment of the World's Marine Electric Vehicles (EVs) Market 2021-2026 - Increasing Need for Low and Zero-Emission Vessels (ZEVs)

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Nov 30, 2021, 16:45 ET

DUBLIN, Nov. 30, 2021 /PRNewswire/ -- The "Marine Electric Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The global marine electric vehicle market grew at a CAGR of around 8% during 2015-2020. Looking forward, the global marine electric vehicle market is projected to exhibit moderate growth during the next five years.

A significant shift in preferences from diesel-powered to hybrid electric boats is positively influencing the sales of marine EVs for both commercial and recreational purposes.

Due to the escalating demand for shipping and rising environmental concerns, there is an increase in the need for low and zero-emission vessels (ZEVs). This, in confluence with the emerging trend of digitalization and automation and the depletion of fossil fuels, represents one of the key factors bolstering the growth of the marine EV market.

Additionally, the inflating disposable incomes are promoting the sales of seagoing enclosed yachts, ferries, workboats, personal submarines, scuba sea scooters and autonomous underwater vehicles (AUVs). This is also supported by the burgeoning travel and tourism sector, which is increasing the adoption of surface boats for leisure and recreational activities.

Apart from this, the electric unmanned underwater vehicles (UUVs) are gaining traction in the oil and gas industry for offshore hydrocarbon extraction, detailed mapping of the ocean floor and scientific research. They can be integrated with high-definition (HD) cameras that transmit data to allow the inspection of the underwater environment efficiently.

Market Segmentation

The report provides an analysis of the key trends in each sub-segment of the global marine electric vehicle market, along with forecasts at the global, regional and country level from 2021-2026. The report has categorized the market based on region, vehicle type, propulsion type and application.

Breakup by Vehicle Type

Military Vehicles
Work Boats
Leisure & Tourist Surface Boats
Autonomous Underwater Vehicles
Others

Breakup by Propulsion Type

Battery Electric Vehicles
Plug-in Hybrid Vehicles
Hybrid Electric Vehicles

Breakup by Application

On-Water Applications
Underwater Applications

Breakup by Region

North America
Asia-Pacific
Europe
Latin America
Middle East & Africa

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players being:

Andaman Boatyard
Boesch Motorboote AG
Corvus Energy Ltd.
Duffy Electric Boat Co.
Electrovaya Inc.
Ruban Bleu
Saft Groupe SA (Total SE)
The Boeing Company
Torqeedo GmbH
Triton Submarines LLC
Wartsila Oyj Abp

Key Questions Answered in the Report

How has the global marine electric vehicle market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global marine electric vehicle market?
What are the key regional markets?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the propulsion type?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global marine electric vehicle market and who are the key players?
What is the degree of competition in the industry?

For more information about this report visit https://www.researchandmarkets.com/r/r99hjq

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Research and Markets
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SOURCE Research and Markets