This Electric Outboard Engines Market report provides a forward looking perspective on different factors driving or restraining market growth. This Electric Outboard Engines Marketreport help in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments. The report highlights the limitations and strong points of the well-known players through SWOT analysis. It also assesses their growth in the market. Additionally, the global market report covers the major product & applications categories & segments.
The latest developments in the Electric Outboard Engines Market market and details of the market leaders along with their market share and strategies. It forecast the regions to witness the fastest growth in the industry. This Electric Outboard Engines Marketreport throws light on the segment expected to dominate the market. It understands the current and future of the market in both developed and emerging Markets.
The electric outboard engines market will reach at an estimated value of USD 176.41 billion and grow at a CAGR of 5.10% in the forecast period of 2021 to 2028
Definition
Electric outboard motors are the type of self-contained propulsory units for boats and these boats are highly efficient for very light boats for motorboats & sailboats up to 10 ton; for commercial operators & green boaters; and dinghies, tenders, and daysailers up to 1.5 tons. Growing number of boats is expected to influence the growth of electric outboard motors.
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Key Growth Drivers:
Rising production and sales of yachts is a crucial factor accelerating the market growth, also rising improved economy and the rising government funding for infrastructure development, rising tourism sector along with the strengthening distribution network, rising disposable income along with surging import and export activities, increasing demand for marine protection projects and water sports and rising concern for environment protection to lower emission are the major factors among others boosting the electric outboard engines market. Moreover, rising technological advancements and modernization in the production techniques, rising research and development activities and rising demand from the emerging economies will further create new opportunities for electric outboard engines market in the forecast period mentioned above.
However, rising prohibitive prices of modern outboard engines is the major factor among others restraining the market growth, and will further challenge the electric outboard engines market in the forecast period mentioned above.
The report emphasizes the participation of key entities, notably:
Torqeedo GmbH, Johnson Outdoors Inc, aquawatt, CSM Technologies, Elco Motor Yachts, Kräutler Elektromaschinen, Ray Electric Outboards, Inc., Aquamot GmbH, Parsun Power machine, ePropulsion, Pasand Steel, Shree Ganesh Enterprises, Woodpecker Machines India Private Limited., P. K. Himatsingka & Company and Raads Marine among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Key Market Perspectives:
- Thorough examination of prevailing market tendencies
- Updates on the latest product advancements and innovations
- Electric Outboard Engines MarketCompound Annual Growth Rate (CAGR) for both historic and forecasted years
- Strategies and activities of prominent players and brands in the field
- Insights into the industry landscape for emerging participants
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Key Market Segmentation
By Engine Type (2-stroke, 4-stroke, Electric), Fuel Type (Diesel, Gasoline, Electric), Power (Low, Mid, High), Ignition Type (Electric, Manual), Application (Commercial, Recreational, Military)
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