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North America Electric Outboard Engines Market Forecast 2027 By Power (Below 25kW, 25 to 50 kW, 50 to 150 kW), By Control (Tiller, Remote), By Application (Commercial, Recreational, Military), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Published Date: August 2021 | Publisher: Graphical Research Report ID: GR1942 | Delivery : PDF  Request Free Sample

North America Electric Outboard Engines Market size crossed USD 45 million in 2020 and is expected to exhibit 5% CAGR from 2021 to 2027. The proliferating marine tourism coupled with rising recreational boating activities in the region will augment the industry growth.

  North America Electric Outboard Engines Market Size

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Growing boat sales to meet the expanding recreational boating activities in the region will boost the market demand. The U.S. is regarded as the largest market for electric outboard engines in the world. With growing investment in the production of boats and naval vessel in both the U.S. and Canada, the opportunities for electric outboard engines industry continues to rise. Furthermore, increasing water sports activities in the region are garnering attention of the market players. Favorable government policies to promote coastal tourism and develop boating infrastructure will also positively influence the regional product consumption.

The COVID-19 pandemic has substantially influenced the product demand in the region. The pandemic has significantly affected the regional tourism industry. Restriction on mobility of citizens and international air travel and nationwide lockdown are some of the measures taken by the governments of regional countries to control the further outbreak of the pandemic. These measures have reduced the number of tourists in tourism-based countries, negatively influencing the demand for electric outboard engines in commercial as well as recreational applications in the region.

North America Market, By Power

  North America Electric Outboard Engines Market, By Power

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The below-25 kW variant of electric outboard engines will account for more than USD 44 million by 2027. The demand of this power segment can be ascribed to proliferating customers’ inclination toward low-cost and highly efficient motors, which are well suited for completing short-haul operations in dingy, boat or canoe. Efficient torque delivery, quiet operation, compact size, and portability are some of the major attributes associated with below 25 kW power variant, making it an ideal choice for regular recreational activities done on small boats.

North America Market, By Control

Tiller controlled variants held over 60% North America electric outboard engines market share in 2020. Tiller is a lever for steering the electric outboard motors. Also referred to as till, a tiller is used by a helmsman to push or pull it, or it can also be operated remotely using tiller lines. This control variant has a handle directly attached to the engine of the boat, whereas in remote steering, the boat is controlled with the help of a steering wheel. While steering a boat, tiller is moved in the opposite direction to which the boat is moving. This control method is largely preferred for Jon boats, small flats, skiffs, and Pango boats with the length under 25 fts.

North America Market, By Application

  North America Electric Outboard Engines Market, By Application

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The recreational application segment is set to dominate around 70% market share by 2027. Recreational boating is gaining a significant traction from tourists owing to the rising number of boating & racing events and trade shows. The region is witnessing significant growth in the product demand from marine industry due to many activities like sightseeing, voyages, swimming, nature observation and entertaining. The technological advancement in the U.S. marine industry pertaining to naval vessels and commercial boats will positively influence the product demand.

Competitive Industry Landscape

Prominent manufacturers in the industry include Torqeedo GmbH, Elco Motor Yachts, Minn Kota, Combi Outboards, EPROPULSION, Bellmarine, Stealth Electric Outboards, and Pure Watercraft. Companies are primarily focusing on mergers & acquisitions and new product development to prosper their competitive edge in the market.

Frequently Asked Question(FAQ) :

The market size for electric outboard engines in North America was surpassed USD 45 million in 2020 and will grow at a robust CAGR of 5% up to 2027 on the back of recreational boating activities and marine tourism growth.
The below-25kW electric outboard engines segment is forecast to account for over 44 million by 2027 considering the demand for highly efficient and low-cost motors in North America.
The tiller-controlled electric outboard engines segment accounted for 60% share of the North America market in 2020 and is growing with increasing demand in small flats, Jon boats and Pango boats.
The recreational segment is forecast to capture around 70% share of the North America market by 2027 owing to the increasing number of trade shows, racing events and boating interest.
EPROPULSION, MInn Kota, Torqeedo GmbH, Stealth Electric Outboards, Elco Motor Yachts, Pure Watercraft, Combi Outboards and Bellmarine, among others are some of the leading companies in the North America industry.

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