Insights on the Marine Electric Vehicle Global Market to 2027 - by Vehicle Type, Propulsion Type, Application and Region - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Marine Electric Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global marine electric vehicle market size reached US$ 3.8 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 6.9 Billion by 2027, exhibiting a CAGR of 10.45% during 2021-2027.

Companies Mentioned

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

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Marine electric vehicles (EVs) are zero-emission transportation systems that rely on renewable energy sources (RES) for electric propulsion. These vehicles require less maintenance, incur low running costs and are more environment friendly compared to fossil fuel-powered maritime vessels.

As they reduce waves, increase speed and create less noise, marine EVs are also considered suitable for wildlife tours. Moreover, 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.

Key Questions Answered in This 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?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Marine Electric Vehicle Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market Breakup by Vehicle Type

7 Market Breakup by Propulsion Type

8 Market Breakup by Application

9 Market Breakup by Region

10 SWOT Analysis

11 Value Chain Analysis

12 Porters Five Forces Analysis

13 Price Analysis

14 Competitive Landscape

14.1 Market Structure

14.2 Key Players

14.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/4dkf9