iCrowdNewswire Mar 9, 2021 4:00 PM ET
The global marine electric vehicle market grew at a CAGR of around 8% during 2015-2020. The market expects to exhibit moderate growth during the next five years.
Marine electric vehicles (EVs) refer to zero-emission transportation systems that rely on renewable sources of energy for electric propulsion. Compared to fossil fuel-powered maritime vessels, these vehicles are more environmentally friendly, require lesser maintenance, and incur lower running costs. Furthermore, as marine electric vehicles efficiently tackle high waves and control noise pollution, they are also considered suitable for marine wildlife tours.
Due to the growing number of marine-based activities coupled with rising environmental concerns, there is an increasing need for zero-emission vessels (ZEVs). This, coupled with the significant shift in preferences from diesel-powered to hybrid electric boats, is bolstering the sales of marine electric vehicles for commercial and recreational purposes. Additionally, the increasing popularity of water-based sports and leisure activities is also driving the demand for seagoing enclosed yachts, workboats, personal submarines, scuba sea scooters, ferries, autonomous underwater vehicles (AUVs), etc. Besides this, electric unmanned underwater vehicles (UUVs) are gaining traction in the oil and gas sector for offshore hydrocarbon extraction, scientific research, and detailed mapping of the ocean floor, which is anticipated to further augment the market growth in the coming years.
Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/marine-electric-vehicle-market/requestsample
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Marine Electric Vehicle Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Andaman Boatyard, Boesch Motorboote AG, Corvus Energy Ltd., Duffy Electric Boat Co, Electrovaya Inc, Ruban Bleu, Saft Groupe S.A. (Total SE), The Boeing Company, Torqeedo GmbH, Triton Submarines LLC and Wärtsilä Oyj Abp.
For more information about this report visit: https://www.imarcgroup.com/marine-electric-vehicle-market
The report has segmented the market on the basis of Vehicle Type, Propulsion Type, Application and Region.
Market Breakup by Vehicle Type:
- Military Vehicle
- Work Boat
- Leisure and Tourist Surface Boat
- Autonomous Underwater Vehicle
Market Breakup by Propulsion Type:
- Battery Electric Vehicle
- Plug-in Hybrid Vehicle
- Hybrid Electric Vehicle
Market Breakup by Application:
- On-Water Applications
- Underwater Applications
Market Breakup by Region:
- North America
- Latin America
- Middle East and Africa
Browse related reports:
Car Rack Market: https://www.imarcgroup.com/car-rack-market
Europe Robotic Lawn Mower Market: https://www.imarcgroup.com/europe-robotic-lawn-market
Automotive Wiring Harness Market: https://www.imarcgroup.com/automotive-wiring-harness-market
All-terrain Vehicle Market: https://www.imarcgroup.com/all-terrain-vehicle-market
Automotive Multi-Wheel Drive Market: https://www.imarcgroup.com/automotive-multi-wheel-drive-market
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
IMARC Services Private Limited
Email: [email protected]
USA: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800
Address: 30 N Gould St, Ste R
Sheridan, WY 82801, USA
Follow us on twitter: @imarcglobal
Keywords: marine electric vehicles market size, marine electric vehicles market growth, global marine electric vehicles market, marine electric vehicles market share, marine electric vehicles market forecast, marine electric vehicles market trends