Global Marine Electric Vehicles Industry Outlook, 2026: Military Vehicles, Work Boats, Leisure & Tourist Surface Boats, Autonomous Underwater Vehicles, Others

Research and Markets

Mon, Nov 29, 2021, 4:48 AM 3 min read

Dublin, Nov. 29, 2021 (GLOBE NEWSWIRE) -- The "Marine Electric Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The global marine electric vehicle market grew at a CAGR of around 8% during 2015-2020. Looking forward, the global marine electric vehicle market is projected to exhibit moderate growth during the next five years.

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.

Market Segmentation

The report provides an analysis of the key trends in each sub-segment of the global marine electric vehicle market, along with forecasts at the global, regional and country level from 2021-2026. The report has categorized the market based on region, vehicle type, propulsion type and application.

Breakup by Vehicle Type