40-Ft Electric Boat Market Competitor Analysis Winning Strategies and Growth Drivers 2030

The "40-Ft Electric Boat Market" is expected to grow from US$ 19,00.36 million in 2023 to US$ 4,929.58 million by 2030; it is estimated to register a CAGR of 14.6% from 2023 to 2030.

The growing disposable income of the people is fueling the growth of the ocean-based tourism & recreation sector in North America. In addition, the increasing construction of electric boat charging infrastructure in the region is propelling the market's growth. In June 2022, a new marine fast-charging infrastructure was constructed at Tahoe City Marina (US) by Aqua superPower. Thus, growing tourism and increasing construction of fast-charging infrastructure in the region are boosting the growth of the 40-Ft electric boat market.

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Companies Profiled in this report includes:

• Frauscher Bootswerft GmbH & Co KG
• Duffy Electric Boat Co
• RAND Boats Aps
• Vision Marine Technologies Inc
• Quadrofoil DOO
• LTS MARINE
• RUBAN BLEU SAS
• aquawatt Mechatronik und Yachtbau
• Wellington Electric Boat Building Co
• Cockwells Modern & Classic Boatbuilding Ltd.

APAC countries such as China, Thailand, Vietnam, Japan, Singapore, and Indonesia are among the most famous tourist countries in the region. In 2022, Thailand witnessed ~10 million visitors, which is expected to reach 23 million in 2023. Thus, the growing tourism in the region is expected to propel the market growth during the forecast period. The presence of many billionaires and a wide coastline in the region will further raise the demand for recreational marine activities, fueling the market growth in APAC.

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40-Ft Electric Boat Market Segmentation:

Propulsion:
• Pure Electric
• Hybrid
• Sail Electric

Battery Type:
• Nickel-Based
• Lead-Acid
• Lithium-ion

By Application:
• Fishing
• Recreational

By Voltage Architecture:
• 3V
• 4V
• 5V

By Boat Type:
• Trawlers
• Catamarans
• Yachts
• Power Cruisers

The 40-Ft electric boat market in North America is segmented into the US, Canada, and Mexico. The market growth in this region is attributed to the growing ocean-based tourism & recreation sector. The rising ocean tourism is due to the growing disposable income of the people in the region. According to the US Bureau of Economic Analysis, the disposable personal income of the US in Q1 of 2023 was US$ 19,707.2 billion, which increased from US$ 18,174.4 billion in Q1 of 2022. Moreover, North America has the best cruising destinations, such as the San Juan Islands, Block Island, Rhode Island, Chicago, and Florida, which are contributing to the increased demand for electric boats. Thus, the growing tourism in the region is leading to the market's growth.

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As the tourism industry is growing the electric recreational boats are gaining popularity as eco-friendly alternatives to traditional diesel-powered boats. These boats are well-suited for cruising, water sports, and leisurely outings, and they offer numerous benefits such as environmental sustainability, quiet operation, and improved energy efficiency. As the demand for sustainable boating options increases, advancements in battery technology and electric propulsion systems continue to enhance the range, speed, and overall performance of electric recreational boats. The growing demand for cost-effective and stylish electric boats for sports activities has contributed to the 40-Ft electric boat market growth in the recreational boat industry.

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