Outboard Electric Motors Market Size to Grow USD 214 Million by 2027 at a CAGR of 8% | Valuates Reports

News provided by

Nov 06, 2023, 11:27 ET

BANGALORE, India, Nov. 6, 2023 /PRNewswire/ -- The Outboard Electric Motors Market is Segmented by Type (Outboard Electric Propulsion Motor, Outboard Electric Trolling Motor), by Application (Commercial Application, Civil Entertainment, Municipal Application): Global Opportunity Analysis and Industry Forecast 2027. It is Published in Valuates Reports Under the Category of Boats & Watercraft.

Outboard Electric Motors market size was USD 125 Million and it is expected to reach USD 214 Million by the end of 2027, with a CAGR of 8.0% during 2021-2027.

Major Factors Driving the Growth of Outboard Electric Motors Market:

Because more and more goods are being powered by electricity worldwide, the market for onboard electric motors is expanding rapidly. Furthermore, because onboard electric motors are simple to use, charge, install, and are ecologically benign, the market for them is anticipated to grow in the near future.

Get Free Sample: https://reports.valuates.com/request/sample/QYRE-Auto-769/Global_Outboard_Electric_Motors

TRENDS INFLUENCING THE GROWTH OF THE OUTBOARD ELECTRIC MOTORS MARKET:

These engines are frequently used for pleasure boating and water sports in the civic entertainment industry. Electric outboard motors are used in government-owned boats for municipal purposes, such as emergency services, law enforcement, and patrolling. The advancement of efficient and large-capacity battery technology is a major driver of outboard electric motor growth. With the advancement of lithium-ion batteries, electric motors can now operate at higher power outputs and longer ranges thanks to their increasing strength, lightweight, and affordability. Electric outboard motors are becoming more competitive with their gasoline-powered equivalents as battery technology advances, lowering the constraints related to battery capacity and longevity.

The advancement of efficient and large-capacity battery technology is a major driver of outboard electric motor growth. With the advancement of lithium-ion batteries, electric motors can now operate at higher power outputs and longer ranges thanks to their increasing strength, lightweight, and affordability. Electric outboard motors are becoming more competitive with their gasoline-powered equivalents as battery technology advances, lowering the constraints related to battery capacity and longevity.

Comparing electric outboard motors to conventional gasoline engines reveals cost savings. Because electric motors have fewer moving components, maintenance expenses are lower. Additionally, boaters' operational costs are reduced since electricity is typically less expensive than petrol. Electric outboard motors are becoming more and more popular because of these cost benefits, which appeal to both commercial and leisure customers.

Incentives and subsidies are provided by several governments and municipal authorities to encourage the use of electric boats and outboard motors. These financial aids for the purchase of electric propulsion systems may take the form of tax breaks, subsidies, and refunds. These financial incentives play a major role in encouraging people and companies to transition to electric propulsion and driving market growth.

A notable feature of an outboard electric motor that contributes to its comfort is its light weight and manageability. This motor can be readily shifted to suit the demands of the moment and operates fluidly in a variety of situations. One intriguing feature is that the engine can be entirely lifted, which enables the ship to enter shallow water regions without the need for a foothold.

Buy Now for Single User: https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-769&lic=single-user

OUTBOARD ELECTRIC MOTORS MARKET SHARE ANALYSIS

Key companies in the global outboard electric motor market include CSM Tech, Minn Kota, Torqeedo, MotorGuide, and AquaWatt, among others. Around 64% of the world's top five manufacturers are represented.

With a market share of almost 34%, the Americas is the largest, followed by Europe and Asia Pacific, each with a share of more than 61 percent.

Get Regional Reports on North America: https://reports.valuates.com/market-reports/QYRE-Auto-769/global-outboard-electric-motors/7

Get Regional Reports on Asia Pacific:

https://reports.valuates.com/market-reports/QYRE-Auto-769/global-outboard-electric-motors/8

Key Companies:

Minn Kota
Torqeedo
AquaWatt
CSM Tech
MotorGuide
Krautler Elektromaschinen
Aquamot
Suzhou Parsun Power Machine
Ray Electric Outboards
Russia
EPropulsion Technology
Elco Motor Yachts
Haibo

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-769/global-outboard-electric-motors

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

SIMILAR REPORTS

- Outboard Engine market size is estimated to be worth US$ 4621.5 million in 2022 and is forecast to be a readjusted size of US$ 5518.3 million by 2028 with a CAGR of 3.0% during the review period.

- Outboard Inflatable Boat Market

- Outboard Boat Motors Market

- Marine Engine Lubricant Market

- Electric Pontoon Boats Market

- Military Outboard Motor Market

- 4-Stroke Outboard Motor Market

- Electric Outboard Marine Motor Market

- Small Portable Outboard Motors Market

- Electric Outboard Generator Market

- Boat Electric Outboard Motor Market

- Piezoelectric Motors Market

- Gas Powered Outboard Motor Market

- Electric Outboard Motor for Boats Market

- Outboard Electric Center Console Boat Market

- Electric Motor Core market is projected to grow from US$ 14390 million in 2023 to US$ 25110 million by 2029, at a Compound Annual Growth Rate (CAGR) of 9.7% during the forecast period.

- Marine and Maritime Engines Market

- Commercial Portable Outboard Engine Market

- Portable Outboard Engine Market

- General Purpose Engines Market

- Electric Traction Motor market size is estimated to be worth US$ 12260 million in 2022 and is forecast to be a readjusted size of US$ 27860 million by 2028 with a CAGR of 14.7% during the review period.

- Electric Scooter and Motorcycle market size is estimated to be worth USD 7885 million in 2022 and is forecast to a readjusted size of USD 12170 million by 2028 with a CAGR of 7.5% during the review period.

- Servo Motor market size is estimated to be worth US$ 729.9 million in 2022 and is forecast to a readjusted size of US$ 918.6 million by 2029 with a CAGR of 3.3% during the forecast period 2023-2029.

- EV Motor Market

- Low Voltage Motors market is projected to grow from US$ 23080 million in 2023 to US$ 34640 million by 2029, at a Compound Annual Growth Rate (CAGR) of 7.0% during the forecast period.

- Accessories for Electric Motors Market

- Cordless Endodontic Electric Motor System Market

- Explosion Proof Electric Actuators Market

Click here to see related reports on Outboard Electric Motors Market

ABOUT US:

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.

CONTACT US:

Valuates Reports
[email protected]
For U.S. Toll-Free Call 1-(315)-215-3225
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Blog: https://valuatestrends.blogspot.com/
Pinterest: https://in.pinterest.com/valuatespins/
Twitter: https://twitter.com/valuatesreports
https://reports.valuates.com/sitemap/html/reports/7
https://reports.valuates.com/sitemap/html/reports/8
https://reports.valuates.com/sitemap/html/reports/9