GLOBAL ELECTRIC OUTBOARD MOTOR MARKET
- The market is in growth mode but in short-medium term, <25 HP will dictate the volume growth whereas the 25-50 HP and >50 HP motors will dictate value growth
- The price per kW power for a motor decreases with the increase in the overall power output of the motor. In simpler words, a 7kW costs $3k whereas a 37kW motor costs $9kW
- The products offered by electric outboard manufacturers vary immensely in characteristics. For instance, The difference between efficiency of entry level and premium segment products is ~8%.The steering offered also varies and can range from just lockable to remote operating
- Torqeedo, the global market leader`s high end ‘Deep Blue System’ is the world’s first high voltage propulsion system to go for series production and has 9 year warranty on Battery.
- Evoy is working with Norwegian dealerships and marinas to vend and install its line of turnkey electric propulsion systems. It will begin its international dealership expansion in 2021. All major players have distribution touch points in significant markets and are on the verge of continuously expanding its sales and distribution spread
- In the ~170,000 unit per annum PWC market, electrification is happening in the premium end which will allow electric motor suppliers to provide premium products with better NVH.
The viability of electric propulsion rests on the notion that a smaller motor can achieve the same power, torque and efficiency as a gas/ diesel motor.
The torque characteristics of electric are much better than diesel. A diesel engine develops peak torque between 1,600-2,000rpm, whereas electric motors delivers it from 0 RPM making it far more efficient.
The high initial torque from electric motors facilitates usage of slimmer, higher efficiency propellers that are more steeply pitched.
GLOBAL ELECTRIC OUTBOARD MOTOR MARKET DYNAMICS
Stealth E18KW is to offer an all-in-one complete electric outboard system to power most smaller lightweight boats at planning speeds of 18-20MPH for at least an hour.
Torqeedo offers a broad selection of outboard motors ranging from 1HP to 80HP. It has continuously innovated and improved its products and also offers a complete package including batteries and other power electronics for complete boat electrification
Norway’s Evoy is about to complete development of one of the most powerful electric outboard motors on the market. The electric Evoy Pro is rated at 150 HP
GLOBAL ELECTRIC OUTBOARD MOTOR MARKET SEGMENTATION
By Power output
- Under 25hp
- More than 50hp
By Yacht length
- Under 35 ft
- More than 60 ft
- Rest of the world
GLOBAL ELECTRIC OUTBOARD MOTOR MARKET SIZE AND FORECAST
The global Electric Outboard Motor market is estimated at $XX Billion in 2020, growing at –% CAGR till 2025.
COVID IMPACT ON ELECTRIC OUTBOARD MOTOR MARKET
As boat sales have been going up in US and EU due to pandemic, we expect a similar growth in interest for electric outboard motors.
GLOBAL ELECTRIC OUTBOARD MOTOR COMPETITIVE LANDSCAPE
There are more than 15 players in electric outboard motor market and most of them are based in Europe. The competitive landscape of this market is lot more fragmented than gasoline powered marine outboard engine market.
Torqeedo and Evoy are the most aggressive in new product development. Torqeedo aspires to cover all market segments, on the other hand Evoy wants to have the most powerful products in its portfolio. The gas outboard engine manufacturers are among the laggards in new product development.
Evoy wants to be the Tesla of marine electric outboard market with high performance motors and in-sourcing of powertrain electronics. Yamaha on the other hand wants to leverage its advanced casting and processing technologies by selling motors to auto OEM.Yamaha,has already started sea trials of its twin electric boat motor unit with an integrated steering control system.
Seattle, US based Pure Watercraft is pursuing a strategy of partnering with well-known hull manufacturers to attract boaters who want electric propulsion but not sure whether how it will play out in real world.
UK`s Equipmake supplies its APM line of electric motors and drive trains to various auto and transportation OEMs, and sees a lot of opportunity in marine electrification. UK based another company called Lynch Motors when coupled with a large diameter slow-running propeller – is capable of providing very economical cruising, the thrust is comparable to a 10HP 4-stroke petrol outboard.
- Yamaha Motor
- Pure Watercraft
- Floren Marine Technik
- Elva Electric Boat Motors
- Stealth Motors
- Combi Outboards
- Elco Motor Yachts
THIS REPORT WILL ANSWER FOLLOWING QUESTIONS
- Market Size and Forecast (2020-2025), Units and $M
- Market split by region, end use segment and generator Power output
- Market share of leading vendors, 2020
- COVID impact on Electric Outboard Motor market and suppliers` earnings
- Electric Outboard Motor Technology trends
|2||Scope of the report|
|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, 2020-2025|
|18||Market Segmentation, Dynamics and Forecast by Product Type, 2020-2025|
|19||Market Segmentation, Dynamics and Forecast by Application, 2020-2025|
|20||Market Segmentation, Dynamics and Forecast by End use, 2020-2025|
|21||Product installation rate by OEM, 2020|
|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, 2020|
|30||Unmet needs and opportunity for new suppliers|