The go-green initiative has catapulted the business models of
multiple industries globally and the boating industry is no
exception. With traditional gasoline and diesel powered boats
significantly increasing pollution levels, the need for alternate
sources of energy to propel boats has pushed manufacturers to
introduce eco-friendly boats in the global market. Hybrid boats
powered by solar energy are fast emerging as an attractive
alternative to conventional boats owing to the zero emission factor.
Further, installation of solar panels in boats reduces the weight of
the boats considerably, and offers an added advantage of noise
reduction. This makes solar powered boats perfect for recreational
activities. Manufacturers are innovating to design solar hybrids with
increased passenger capacity in keeping with the rising market
demand.
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Earlier, propulsion systems in boats were powered by lead acid batteries. The use of lead acid batteries in electric boats comes with several disadvantages including added bulk and low battery cycle time. The latest trend is the adoption of lithium ion batteries for power generation in boats. Lithium ion batteries with phosphate technology are the newest trend in the global market. Besides a huge life of 10 times more than lead acid batteries, lithium ion batteries are lightweight, charge faster, have low toxicity levels, and require relatively low maintenance. These batteries can be disposed of in an environmentally friendly manner as compared to lead acid batteries. These properties have shifted boat manufacturers’ preferences towards lithium ion batteries.
These trends are defining the positive growth trajectory of the global electric boats market, which, according to a recent analysis by Future Market Insights, is projected to exhibit a growth rate of 11.0%, moving from a valuation of US$ 106,029.4 Th in 2017 to US$ 327,678.2 Th by the end of 2028.
Increase in sales revenue of electric boats can be attributed to the following key factors:
Boost in the global recreational boating industry leading to high demand for boats
Focus on development of lightweight boats fuelled by electric power
Adoption of small size boats for purposes of maritime security
Focus on the reduction of emissions and awareness of the need to reduce environmental pollution
North America Undisputed Leader in the Global Market; Western Europe to Stay Second in Line
Needless to say, North America projects the highest demand and adoption of electric boats, given the thrust on boating as a leisure activity among the American population. Western Europe is the second biggest market in terms of sales of electric boats, again given the increasing preference for recreational boating activities in the region. Markets in the Middle East & Africa and India are yet to be fully tapped and are currently witnessing relatively moderate growth in terms of both demand and sales of electric boats.
Get Complete TOC With Tables and Figures @ https://www.researchmoz.us/electric-boats-market-will-the-steady-rise-in-adoption-completely-oust-conventional-boats-in-the-coming-years-global-industry-analysis-2013-2017-and-opportunity-assessment-2018-2028-report.html/toc
Recommendations for Key Players
Vendors in the global electric boats market need to focus on introducing newer hybrid models that can propel on diesel / petrol as well as electric systems in keeping with the surge in consumer demand. Focussing on certain key markets in developing economies can prove to be beneficial in the long run, given that the populace in these regions is growing financially and is looking for more water based recreational activities. Boating as a leisure activity is fast gaining traction and manufacturers would do well to expand their distribution network in fast growing economies of the SEA & Pacific and countries such as China.
About ResearchMoz
ResearchMoz is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfil all your research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organisations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price.
For More Information Kindly Contact:
ResearchMoz
Mr. Nachiket Ghumare,
Tel: +1-518-621-2074
USA-Canada Toll Free: 866-997-4948
Email: sales@researchmoz.us
For More Reports Visit @ http://marketresearchlatestreports.blogspot.com/
Get PDF for More Professional and Technical insights @ https://www.researchmoz.us/enquiry.php?type=S&repid=1877983
Earlier, propulsion systems in boats were powered by lead acid batteries. The use of lead acid batteries in electric boats comes with several disadvantages including added bulk and low battery cycle time. The latest trend is the adoption of lithium ion batteries for power generation in boats. Lithium ion batteries with phosphate technology are the newest trend in the global market. Besides a huge life of 10 times more than lead acid batteries, lithium ion batteries are lightweight, charge faster, have low toxicity levels, and require relatively low maintenance. These batteries can be disposed of in an environmentally friendly manner as compared to lead acid batteries. These properties have shifted boat manufacturers’ preferences towards lithium ion batteries.
These trends are defining the positive growth trajectory of the global electric boats market, which, according to a recent analysis by Future Market Insights, is projected to exhibit a growth rate of 11.0%, moving from a valuation of US$ 106,029.4 Th in 2017 to US$ 327,678.2 Th by the end of 2028.
Increase in sales revenue of electric boats can be attributed to the following key factors:
Boost in the global recreational boating industry leading to high demand for boats
Focus on development of lightweight boats fuelled by electric power
Adoption of small size boats for purposes of maritime security
Focus on the reduction of emissions and awareness of the need to reduce environmental pollution
North America Undisputed Leader in the Global Market; Western Europe to Stay Second in Line
Needless to say, North America projects the highest demand and adoption of electric boats, given the thrust on boating as a leisure activity among the American population. Western Europe is the second biggest market in terms of sales of electric boats, again given the increasing preference for recreational boating activities in the region. Markets in the Middle East & Africa and India are yet to be fully tapped and are currently witnessing relatively moderate growth in terms of both demand and sales of electric boats.
Get Complete TOC With Tables and Figures @ https://www.researchmoz.us/electric-boats-market-will-the-steady-rise-in-adoption-completely-oust-conventional-boats-in-the-coming-years-global-industry-analysis-2013-2017-and-opportunity-assessment-2018-2028-report.html/toc
Recommendations for Key Players
Vendors in the global electric boats market need to focus on introducing newer hybrid models that can propel on diesel / petrol as well as electric systems in keeping with the surge in consumer demand. Focussing on certain key markets in developing economies can prove to be beneficial in the long run, given that the populace in these regions is growing financially and is looking for more water based recreational activities. Boating as a leisure activity is fast gaining traction and manufacturers would do well to expand their distribution network in fast growing economies of the SEA & Pacific and countries such as China.
About ResearchMoz
ResearchMoz is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfil all your research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organisations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price.
For More Information Kindly Contact:
ResearchMoz
Mr. Nachiket Ghumare,
Tel: +1-518-621-2074
USA-Canada Toll Free: 866-997-4948
Email: sales@researchmoz.us
For More Reports Visit @ http://marketresearchlatestreports.blogspot.com/
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