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Electric Outboard Engines Market Share

Report ID: GMI4942
Published Date: Jul 2024
Report Format: PDF

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Electric Outboard Engines Market Share

Key players involved in the electric outboard engines industry are Schindler, TK elevator, Mitsubishi electric corporation, Kone and Hitachi, Ltd accounting market share of 30% in 2023. Manufacturers are constantly investing in R&D to build advanced electric outboard engines with technological advances such as hybrid propulsion systems. For instance, Mitsubishi launched a powerpack plus range in partnership with Linz electric. Power pack plus products involve supply of Mitsubishi diesel engine, radiator and Linz electric alternator.

Electric Outboard Engines Market Companies

Major companies operating in the electric outboard engines industry include:

Aqua watt
Combi Outboards
Elco Motor Yachts
EPROPULSION
E-TECH
Evoy
Golden Motors
Hitachi, Ltd.
KONE
MINN KOTA
Mitsubishi Electric Corporation
Parsun Power
Pure Watercraft
Schindler
Torqeedo GmbH

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of electric outboard engines was reached USD 854.1 billion in 2023 and is expected to register 6.2% CAGR from 2024 to 2032, due to offering lower emissions as compared to gasoline and diesel engines and rising marine tourism worldwide.

Electric outboard engines industry from the below 25 Kw segment is expected to cross USD 1.3 trillion by 2032, due to owing to being more environmentally friendly and producing less emissions as compared to other engines.

North America electric outboard engines industry is predicted to hit USD 819.96 billion by 2032, due to the presence of recreational boating and embracing new technologies as per the changing environmental regulations in the region.

Combi Outboards, Elco Motor Yachts, EPROPULSION, E-TECH, Evoy, Golden Motors, Hitachi, Ltd., KONE, MINN KOTA, Mitsubishi Electric Corporation, Parsun Power, Pure Watercraft, Schindler, and Torqeedo GmbH, are some of the major electric outboard engines companies worldwide.