The electric outboard engines industry is experiencing a trend towards hybrid propulsion systems driven by environmentally sustainable factors and operational efficiency. The hybrid propulsion systems integrate the engines with electric motors with traditional engines with alternative sources such as gasoline and diesel engines. The hybrid propulsion system not only enhances energy and fuel efficiency but also lowers the overall operating costs. This trend is strongly driven by the evolving changing environmental regulations where hybrid propulsion has emerged as a solution to these regulatory challenges. Manufactures are heavily investing in research and development to enhance boats with hybrid propulsion systems to reduce the environmental impact
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.