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Last Updated: Apr 25, 2025 | Study Period: 2024-2030
As emissions concerns mount on all transportation sectors, the boating industry has not been left behind either and we are seeing interesting developments here.
The electrification wave is not just limited to boats but now has also engulfed the PWC market. Montreal`s Taiga Motors launched two new electric jet skis starting from $15,000 in July 2020.
COVID-19 has given an unprecedented boost to the overall boating industry in US and Europe and the same could accelerate electric boat adoption as more people now get used to clearer skies.
To know more about Global Electric Outboard Motor Market, read our report
Asia Pacific is a comparatively smaller market for boats than EU and US but growing water activity in ASEAN region could change this medium term.
In New Zealand, the Port of Auckland has set the goal of being a zero emissions harbour by 2040. Netherlands based Damen Shipyards has decided to take on development of a 70-tonne all-electric tug boat for delivery in 2021.
Electrical Systems in boats equipped with an onboard computer with GPS are built into the Travel motor, providing instant readouts of operating range at current RPMs, battery charge status and other critical safety information. All vital information can also be viewed on apps available for ios or Android smartphone or tablet.
A big advantage that electric motors have over combustion motors is the initial take off. ICE motors need to rev up to an optimum speed to generate enough torque to get the boat moving, but electric motors can literally just have quick acceleration.
Electric utilities will play a pivotal role in the successful integration of electric boats, through the distribution of comprehensive information, innovative ratemaking, investment in infrastructure, and collaborative partnerships with stakeholders.
Another consideration while developing sustainable products, The companies are approaching with application of a holistic and circular philosophy to all elements of construction and materials.
Organic materials have been used wherever possible and others have been evaluated for their renewability and recyclability with a database that tracks where everything is sourced and best practices for minimal end-of-life impact.
| Sr. No. | Timeline | Company | Updates |
| 1 | December 2021 | Yamaha Motor | Yamaha Motor Co., Ltd. announced intent to acquire Siren Marine, Inc. (hereinafter, Siren Marine), a US based company that provides Connected Boat solutions to the marine industry by using smart boat technology. |
| 2 | December 2021 | Volvo Penta | Volvo Penta and Danfossâ Editron division signed a partnership agreement to drive the transformation towards sustainable power solutions within the marine industry. |
| 3 | June 2021 | Volvo Penta | Volvo Penta announced its new acquisition of ZEM â a specialist in marine batteries and electric propulsion and motorization solutions having a strong track record in Norway. |
| 4 | November 2019 | Templar Marine | Exro Technologies, has patented technology that uses artificial intelligence to improve the performance of electric engines and power systems, partnered with The Templar Marine Group Ltd., a Canadian company focused on the mass production of commuter electric boats, to optimize engine performance. |
| 5 | July 2018 | Ingenity | Correct Craft announced its newest acquisition, an electric boat drive system, Ingenity P220, the highest performing electric towboat propulsion system in the world that was previously built by Ortner Electric in Villach, Austria. The acquisition was a result of Correct Craftâs Watershed Innovation initiative. |
The oldest shipyard in the United States, Hodgdon Yachts, will build Vita's flagship model, the LION, in Maine. Vita is a maker of high-performance electric boats and electrified marine powertrains.
The LION's maritime propulsion capabilities will be astounding when it starts sea trials this summer. A firm called Vita specialises in marine technology and has two divisions: Vita Yachts, which creates high-performance electric boats, and Vita Power, which creates the all-electric drivetrains that propel them.
Vita has joined the growing effort to make using our planet's seas for transportation more environmentally friendly.The company's initial prototype, the nine-meter Vita IX, triumphed in both the speed and endurance classes at the Monaco Energy Boat Challenge.
A year later, the 10-meter Electrix day boat prototype saw additional success in Monaco.The LION, the company's flagship model and a swift 10.5-meter performance electric day boat, was unveiled by Vita.
We now know, thanks to today's announcement, that this next performance electric boat will be produced in the United States before it starts sea trials this summer.
High price of Lithium ion batteries has so far not allowed car manufacturers to make a sizable profit on battery electric vehicles. It is no different in case of electric boats.
Sion Power of Phoenix announced that their Licerion® (EV) cell has achieved a significant battery breakthrough, with an energy density measuring 400 Wh/kg in a pouch cell.
The lithium sulfur electric boat powered by OXIS Energy cells comes on the heels of successful electric airplane flight. OXIS a new 40 foot luxury day boat.
It will carry a 400kWh battery system of Ultra Light, High-Power cells and battery management system (BMS). The objective is to achieve a range between 70 and 100 nautical miles at cruising speed.
New Torqeedo Travel 603 motor, with integrated battery of the Travel 603 is rated at 500Wh (watt hours) and provides up to 5 ½ hours of cruising at slow speeds.
Ingenity has developed 124 kWh battery for GS22E which can provide 2 to 3 hours of run time in typical water sports use scenarios. It can be recharged using a 12kW onboard charger (10 hours), an 80kW supercharger (1.5 hours) or a DC 25kW EV charger (4 hours).
Laneva`s 26ft day boat has twin 60kW axial flux motors supplied by 140kWh lithium polymer NMC (Nickel Cobalt Manganese) battery packs.
| Sr. No. | Timeline | Company | Updates |
| 1 | May 2021 | Ingenity Electric | Ingenity Launches Tahoe Experience for its groundbreaking 100% Electric Towboat by giving guests the opportunity to ride the world's first 100% electric towboat and experience the power of sustainable boating on Lake Tahoe. |
| 2 | August 2020 | Ingenity Electric | Ingenity delivered the first initial 100% electric Nautique GS22E production units to customers in both the U.S. and in Europe. |
| 3 | July 2020 | Voltaire yachts | Voltaire Electric Yachts announced the official start of operation as well as the launch of its first all-electric boat, Voltaire 33 SKY, based on an entirely new concept of power boat with a holistic approach on zero-emission, sustainability, performance and luxury. |
| 4 | May 2020 | Templar Marine | Templar Marine presented its latest model, The Picnic 20, an environmentally friendly product at a very reasonable price point for families focusing on local staycations and curbing expenses like $150 per day on fuel for gas boats. |
Electric Boat Market can be segmented by propulsion, battery and region
The global Electric boat market is estimated at $XX Billion in 2023, growing at XX% CAGR till 2030.
Silent flying boats whizzing over the Stockholm Archipelago, where Swedish boatmaker Candela manufactures its C-7 hydrofoil electric speedboats, aren't uncommon.That popular model has already spread across Europe and the United States, but Candela's next-generation C-8 may soon displace it as the company's flagship model.
The new model will be unveiled in Venice, Italy, during the Salone di Nautico Boat Show.
The breakthrough design of the Candela C-8 was unveiled before of its manufacturing, demonstrating the flying electric speedboat's planned engineering and design.The C-8 glides above the waves on a pair of computer-controlled hydrofoils that rise, drop, and fine-tune over 100 times per second to create a smooth ride.
| S No | Company Name | Development |
|---|---|---|
| 1 | Princecraft | Some of the first electric pontoons that were sold were made by Princecraft. They have updated their Brio and given it the name Brio 2.0. With variants measuring 17 feet, 19 feet, and 21 feet and designed around its electric propulsion system, its redesign enhances balance by adjusting for where the motor and its batteries are located. |
| 2 | Rand Boats | Rand, a Danish boat manufacturer, and their Escape 30 Flagship. This 30-foot T-top micro boat, which can be trailered, combines the opulent amenities of a larger yacht with electric, diesel, or gasoline propulsion. A MerCruiser Bravo Three lower section receives torque from a single electric motor that is outfitted as an eBoat. |
| 3 | Vision Marine Technology | Vision Marine Technologies, a shipyard in Quebec, provides a fascinating look into the future of boating. Up to 12 passengers can travel on its 5.4-meter-long Volt 180 open-electric hull as it quietly, wave- and emission-free travels across protected bodies of water. |
Princecraftâsengines' ability to convert more volts and amps into forward motion is also made possible by their reduced weight structure. The Cruise 2.0, the Cruise 4, and the Cruise 10.0 from Torqeedo Cruise 2.0 roughly equates to a six-horsepower gas outboard, Cruise 4.0 to ten horsepower, and Cruise 10.0 to twenty horsepower.
On the water, there would be a significant difference in rigging between five horsepower and the more potent 20 horsepower.
Rand Boatshave a half bench facing forward positioned against the bulkhead in the bow section, along with twine-facing cushioned chairs in the Vee. Laying anchor is safe and secure without having to worry about slipping overboard because of the accessible anchor locker and high topsides.
Options for lithium batteries span the 47 to 234 kWh range. shock spoiler sticker. Motor options range from 105/140 to 460 kWh/616 horsepower. The motor with the maximum power can cruise at 23 knots for two hours.
Vision Marine Technologieshas the beamy center console design, which is made of fibreglass infusion, and is incredibly adjustable to fit each individual's ideas of what living on the water should be like. A cockpit with a horseshoe form is located in front of the helm station.
The personality will be determined by precisely which options and gadgets are chosen to fill the room. Although the shipyard is in Quebec, the Volt 180 is sold all over the world and has sales offices in Portugal, the UK, and France.
The electric boat market is young and agile, marked by the presence of several new players. All market players are innovating and focus on Research is much higher than conventional boat manufacturers.
Azura builds the Aquanima line of solar powered catamarans, ranging from 28 foot to 45 foot with a speed of up to 12 knots and a range of 120 nautical miles in a day.
Vision Marine to supply Limestone Boat electric powertrains - Limestone Boat will order a minimum of 25 of the E-Motion powertrains over the next 12 months as the initial step in its plans to significantly scale its electric boat footprint.
Voltaire builds the 33 Sky electric power catamaran with a flax-fibre composite hull. The motor is supplied by electric outboard specialist Torqeedo and has 2*42kWh batteries
Now Yanmar and Toyota have announced that they have completed the first sea trials. The Yanmar/Toyota collaboration is the International Maritime Organizationâs push to reduce emissions from global shipping to zero by the turn of the century.
Toyota is already working with fuel cells working away on the Energy Observer research ship, which creates hydrogen from the sea water it travels through and is on its way to Japan after completing a zero-emission 9,000km transatlantic journey from France to Martinique.
On a smaller, recreational boat level, H2-from-sea-water is also a fuel source for the new luxury solar electric yacht Aquon.
The worldâs first hydrogen powered river boat is due to be launched this year in France with a system developed by ABB (energy management) and Ballard (fuel cells), who are also working on fuel cell cruise ships for the Royal Caribbean line.
DeepSpeed development team is working on a high power 500 kiloWatt electric hydro jet motor designed for work boats and vessels that sail hundreds of hours a year.
The new 500kW motor â the DS780 â has 1500 Nm (Newton meters) of torque and the engineering team claims a peak power thrust equivalent to a 780 horsepower engine.
Yamaha started trials on a twin electric boat motor unit. The twin electric boat motor unit is integrated with a steering control system â HARMO â and trials begin in August on the Otaru Canal tourist attraction in Hokkaido, Japan.
A new electric-hybrid waterjet propulsion system is being released by New Zealandâs HamiltonJet The recreational boat was originally outfitted with twin Yanmar 720 horsepower diesel engines coupled with the HJ series jets from Hamilton Jet.
Canadaâs Templar Marine product portfolio now includes 4 models, each with multiple options and configurations to suit a variety of users.
| Sr. No. | Timeline | Company | Overall Sales |
| 1 | H1-2021 | Yamaha Motor | Yamahaâs net sales for the consolidated accounting period for the first six months of the fiscal year 2021 were 920.1 billion yen which is an increase of 234.6 billion yen or 34.2% compared with the same period of the previous fiscal year. The operating income was 109.2 billion yen which is an increase of 90.1 billion yen or 471.9%). |
| 2 | Q2-2021 | Volvo | During Q2 2021, Volvo Groupâs net sales increased by 24% to SEK 90.6 billion along with an adjusted operating income of SEK 9.7 billion as the demand for the Volvo Groupâs products and services continued to be good. |
| 3 | H1-2021 | Yanmar | Yanmar recorded total revenue of 782.3 billion JPY, a 1.7% fall when compared to previous yearâs revenue with ordinary income doubling on the previous year to 31.7 billion JPY. |
| Sl no | Topic |
| 1 | Market Segmentation |
| 2 | Scope of the report |
| 3 | Abbreviations |
| 4 | Research Methodology |
| 5 | Executive Summary |
| 6 | Introduction |
| 7 | Insights from Industry stakeholders |
| 8 | Cost breakdown of Product by sub-components and average profit margin |
| 9 | Disruptive innovation in the Industry |
| 10 | Technology trends in the Industry |
| 11 | Consumer trends in the industry |
| 12 | Recent Production Milestones |
| 13 | Component Manufacturing in US, EU and China |
| 14 | COVID-19 impact on overall market |
| 15 | COVID-19 impact on Production of components |
| 16 | COVID-19 impact on Point of sale |
| 17 | Market Segmentation, Dynamics and Forecast by Geography, 2024-2030 |
| 18 | Market Segmentation, Dynamics and Forecast by Product Type, 2024-2030 |
| 19 | Market Segmentation, Dynamics and Forecast by Application, 2024-2030 |
| 20 | Market Segmentation, Dynamics and Forecast by End use, 2024-2030 |
| 21 | Product installation rate by OEM, 2023 |
| 22 | Incline/Decline in Average B-2-B selling price in past 5 years |
| 23 | Competition from substitute products |
| 24 | Gross margin and average profitability of suppliers |
| 25 | New product development in past 12 months |
| 26 | M&A in past 12 months |
| 27 | Growth strategy of leading players |
| 28 | Market share of vendors, 2023 |
| 29 | Company Profiles |
| 30 | Unmet needs and opportunity for new suppliers |
| 31 | Conclusion |
| 32 | Appendix |
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