(EMAILWIRE.COM, July 12, 2023 ) The “Marine Electric Vehicle Market” was valued USD 9 Bn in 2022 and is expected to grow at a CAGR of 11.26 percent over the forecast period to reach USD 18.86 Bn by 2029.

Marine Electric Vehicle Market Scope and Research Methodology

The report is a detailed analysis of the Marine Electric Vehicle Market by country, regional and global presence. The primary and secondary research method was used to gather data from the Marine Electric Vehicle market. Bottom up approach was used to estimate the market size.

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Marine Electric Vehicle Market Dynamics

Increased need for eco-friendly transportation solutions with an increased need for clean and sustainable transportation sis expected to boost the marine electric vehicle market growth. High initial costs of the vehicle is expected to restrain the market growth.

Marine Electric Vehicle Market Regional Insight

North America region is expected to boost the Marine Electric Vehicle market growth over the forecast period. Government initiatives and regulations to promote sustainable transportation solutions is expected to boost the regional market growth.

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Marine Electric Vehicle Market Segmentation

By Vehicle type:
Electric boats (small, medium, large)
Electric ferries
Electric ships (cargo, passenger)
Electric yachts
Electric catamarans
Other electric watercraft (jet skis, water taxis, etc.)

By Technology
Electric propulsion systems (AC, DC)
Electric motors (induction, synchronous, permanent magnet)
Energy storage systems (lithium-ion, lead-acid, others)
Charging infrastructure (dockside, portable, wireless)

Marine Electric Vehicle Market Key Players Include

Canadian Electric Boat Company (Canada)
Torqeedo (Germany, with North American headquarters in Crystal Lake, IL)
Vision Marine Technologies (Canada)
ABBSwitzerland)
Echandia Marine (Sweden)
Leclanché (Switzerland)
Rolls-Royce (UK)

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Maximize Market Research is leading Aerospace and Defense research firm, has also published the following reports:

Off-Highway Electric Vehicle Market : The market size is expected to reach USD 40.28 Bn by 2029 at a CAGR of 31.7percent during the forecast period.

Electric Vehicle Sound Generators Market : The total market size is expected to reach USD 236.76 Mn by 2029 at a CAGR of 14 percent over the forecast period.

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