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The qualitative report published by Market intelligence data research on “ marine electric vehicles market offers an in-depth examination of the current trends, latest expansions, conditions, market size, various drivers, limitations, and key players along with their profile details. The Marine Electric Vehicles market report offers the historical data for 2017 to 2022 and also makes available the forecast data from the year 2023 to 2029 which is based on revenue. With the help of all this information research report helps the Market contributors to expand their market positions. With the benefit of all these explanations, this market research report recommends a business strategy for present market participants to strengthen their role in the market. This report analyzes the impact of the Covid 19 pandemic on the Marine Electric Vehicles Market from a Global and Regional perspective.
The global Marine electric vehicles market size reached US$ 3.9 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 6.11 billion by 2029, exhibiting a CAGR of 10.49% during 2023-2029.
marine electric vehicles (EVs) are zero-emission transportation systems that rely on renewable energy sources (RES) for electric propulsion. These vehicles require less maintenance, incur low running costs and are more environment friendly compared to fossil fuel-powered maritime vessels. As they reduce waves, increase speed and create less noise, marine EVs are also considered suitable for wildlife tours. Moreover, a significant shift in preferences from diesel-powered to hybrid electric boats is positively influencing the sales of marine EVs for both commercial and recreational purposes.
Due to the escalating demand for shipping and rising environmental concerns, there is an increase in the need for low and zero-emission vessels (ZEVs). This, in confluence with the emerging trend of digitalization and automation and the depletion of fossil fuels, represents one of the key factors bolstering the growth of the marine EV market. Additionally, the inflating disposable incomes are promoting the sales of seagoing enclosed yachts, ferries, workboats, personal submarines, scuba sea scooters and autonomous underwater vehicles (AUVs). This is also supported by the burgeoning travel and tourism sector, which is increasing the adoption of surface boats for leisure and recreational activities. Apart from this, the electric unmanned underwater vehicles (UUVs) are gaining traction in the oil and gas industry for offshore hydrocarbon extraction, detailed mapping of the ocean floor and scientific research. They can be integrated with high-definition (HD) cameras that transmit data to allow the inspection of the underwater environment efficiently.
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Top Key Players are covered in the Marine Electric Vehicles Market Report:
Boesch Motorboote,Duffy Electric Boat,Ruban Bleu,Torqeedo,Triton Submarines,Corvus Energy,Electrovaya,Saft,Tamarack Lake Electric Boat
Regional Analysis:
The region-wise coverage of the market is mentioned in the report, mainly focusing on the regions:
North America (NA) – US, Canada, and Mexico
Europe (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of Europe
Asia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APAC
Latin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin America
The Middle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South Africa
Regional Analysis
The North American region will have the highest regional CAGR until 2025. This explains why it will have the highest regional market share as well. America, especially, is home to many large unmanned marine vehicles. These include Triton and Boeing.
The Asia-Pacific and Latin American regions are also expected to see healthy CAGR. Indeed, their market shares will be increasing substantially for the time period being studied. What is accounting for this is the fact that most countries in the Asia-Pacific and Latin American regions are urbanizing rapidly. The militaries and other industries in these regions are getting richer. They want to buy more effective and powerful underwater vehicles that are robotic for a variety of purposes including naval and research-based.
Many countries in Latin America and the Asia-Pacific region are seeing the explosion of a middle class. This is especially true in India, Mexico, Brazil, and China. As these people become wealthier, their demand for seafood increases. These middle classes are willing to pay a premium for specialty seafood like crab and lobster. Underwater robotic vehicles are needed to find these reserves of sea animals. This is a huge factor that has been driving the high CAGRs in the Latin American and Asia-Pacific regions.
Market Segment Analysis :
The Marine Electric Vehicles Market Report provides a preliminary review of the industry, definitions, classifications, and enterprise chain shape. Market analysis is furnished for the worldwide markets which include improvement tendencies, hostile view evaluation, and key regions development. Development policies and plans are discussed, and manufacturing strategies and fee systems are also analyzed.
Marine Electric Vehicles Market Segmentation by Types:
Battery Electric Vehicle
Plug-In Hybrid Electric Vehicles
Hybrid Electric Vehicles
Marine Electric Vehicles Market Segmentation by Applications:
Small Recreational Boats
On-Water Commercial and High End Leisure Boats
Underwater Leisure
Underwater AUV
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Significant Features and Key Highlights of the Marine Electric Vehicles Market Reports :
– Detailed overview of The Marine Electric Vehicles market.
– Changing market dynamics of the industry.
– In-depth market breakdown by Type, Application, etc.
– Historic, existing, and predictable market size in terms of extent and worth.
– Recent manufacturing trends and developments.
– Competitive landscape of The Marine Electric Vehicles market.
– Approaches to significant performers and product help.
– Prospective and niche sectors/regions exhibiting promising growth.
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Detailed TOC of Marine Electric Vehicles Market Research Report 2023-2029
Chapter 1 Marine Electric Vehicles Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers and, Market data
Chapter 4 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 5 Global Production, Revenue (Value), Price Trend by Type and Region
Chapter 6 Global Market Analysis by Application
Chapter 7 Manufacturing Cost and, Gross profit Analysis
Chapter 8 Industrial Chain, Sourcing Strategy, and Downstream Buyers
Chapter 9 Marketing Strategy and, Status Analysis, Distributors/Traders
Chapter 10 Market Driving Effect Factors Analysis
Chapter 11 Global Marine Electric Vehicles Market Trends and, Forecast
Chapter 12 Research Methodology
COVID-19 and Russia-Ukraine War Influence Analysis
The readers in the section will recognize how the Marine Electric Vehicles market scenario changed across the globe during the pandemic, post-pandemic, and Russia-Ukraine War. The study is done keeping in view the changes in aspects such as demand, consumption, transference, consumer behavior, supply chain management, export and import, and production. The industry experts have also highlighted the key factors that will help create opportunities for players and stabilize the overall industry in the years to come. These factors negatively affected the market during the war.”
The Marine Electric Vehicles Market report gives answers to the following:
What guidelines are followed by key performers to contest this Covid-19 condition? What are the important matters drivers, opportunities, challenges, and dangers of the market? will face surviving? Which are the essential market players in the Marine Electric Vehicles industry? What is the forecast compound annual growth rate (CAGR) of the global market for the duration of the forecast period (2023 – 2029)? What could be the anticipated value of the Marine Electric Vehicles marketplace during the forecast period?
Customization:
The Marine Electric Vehicles Market Report may well be modified to meet your detailed business essentials. Because we understand what our clients want, we provide up to 20% customization for any of our Market Intelligence Data reports at no added cost to all of our Users.
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