North American Electric Outboard Engine Market size is poised to reach USD 60 million by 2027, according to a latest forecast report by Graphical Research. Rapidly growing fishing and water-sports activities are expected to propel the industry growth.
The North America market is likely to witness growth at a rate over 6.5% between 2021 and 2027. Regional product manufacturers are primarily investing in research and development activities in order to develop electric outboard engines with advanced technical features at affordable pricing to attract the younger population. Advanced technological development in marine and shipping systems along with stringent government regulations will further accelerate opportunities for product expansion. Introduction of contra-rotating propellers and power steering will significantly boost the demand for high-powered electric engines.
These engines are smaller in size and offer high-performance over a longer period. Manufacturers are continuously engaging in developing high efficiency engines to gain competitive advantages, boosting the electric outboard engine market share across the region. For instance, Vision Marine Technologies launched powerful E-Motion 180 electric engine with zero emission that can drive boats by 60 mph. However, recent COVID-19 pandemic has adversely impacted the market due to production halting, disruption of supply chain, and sharp contraction of the tourism industry across the region.
Browse detailed statistical insights from the report, “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” along with the table of contents (ToC) @
The 25-50 kW segment is expected to hold more than 15% market share by 2027. The segment growth can be attributed to the rising demand for commercial electric outboard systems with exceptional performance, higher safety standards, and easy operability. Growing recreational boating events will eventually increase the power bracket engines market share in the coming years.
The remote control segment will witness around 5.3% CAGR in the North America electric outboard engine industry in between 2021 and 2027. Electric outboard motors are gaining attention in recent years. Remote controlled system is easy to handle and allows to adjust speed remotely for extra range and runtime, stimulating the product demand in recreational operations.
The commercial segment will generate over USD 10 million of revenue by 2027. The rising demand for low noise, pollution free, and high-performance engines in the fishing industry and passenger vessels will propel the product demand. The U.S. dominated the market in 2020 owing to the well-established marine industry and popularity of recreational activities in the country. Rapidly growing seafood business and increasing tourism activities in the U.S. through boat tours will significantly emerge the industry size over the forecast period.
The North American electric outboard engine market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
North America Market, by Power
- Below 25kW
- 25 to 50 kW
- 50 to 150 kW
North America Market, by Operation
North America Market, by Application
The above information has been provided for the following countries: