Outboard Electric Motors Market to See Massive Growth by 2029
The global outboard electric motors market is anticipated to grow at a CAGR of 5.1% during the forecast period. Growing interest toward recreational water sports activities and rising water-based tourism are the major drivers for recreational boating market growth which has boosted the demand for outboard electric motors for boats. Various types of recreational boats are used for recreational boating, including runabouts, towboats, fishing boats, sailboats, pontoon boats, sterndrive powerboats, jet boats, personal watercraft, propulsion systems, and cabin cruisers. Continuous technological advancement in boats & boat motors are some of the factors expected to offer lucrative opportunities for market growth during the forecast period.
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In January 2023, Brunswick launches all-electric marine outboard. The Avator 7.5e will be the first in Mercury Marine’s full line of electric outboard motors. Further, in February 2022, Brunswick corp (Mercury Marine) announced the launching of an electric outboard motor called Avator at the Miami International Boat Show. The motor is designed for smaller boats and has a removable and interchangeable battery system that allows for easy and fast recharging. Additionally, the motor has a screen display that displays the battery level.
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· Market Coverage
· Market number available for – 2023-2029
· Base year- 2022
· Forecast period- 2023-2029
· Segment Covered- By Source, By Product Type, By Applications
· Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
· Inc., and others
Global Outboard Electric Motors Market Report Segment
By Motor Type
- Propulsion Motors
- Trolling Motors
By Power
- Below 25kW
- 25 to 50kW
- 50 to 150kW
By Application
- Military
- Commercial
- Recreational
Global Outboard Electric Motors Market Report by Region
North America
• US
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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