Solar Boat Market |(CAGR) of 14.2%| Size, Share, Growth Statistics, Leading Players and Forecast 2032

The global solar boat market revenue was around US$ 0.74 billion in 2022 and is estimated to reach US$ 2.4 billion by 2031, growing at a compound annual growth rate (CAGR) of 14.2% during the forecast period from 2023 to 2031.

Solar boat or solar electric boats are ocean vessels, which run with battery power and also has solar panels for charging the battery. Solar boats use solar energy to power the navigation systems, motors, and onboard electronic equipment of the boats. Solar panels placed on the boat harvest solar energy from the sun and move it to a charge controller, which contains the flow of electricity to rechargeable batteries like lithium-ion batteries. Also, solar boats have many benefits like less maintenance, less environmental impact, lower running costs, and others.

Request To Download Free Sample of This Strategic Report @https://reportocean.com/industry-verticals/sample-request?report_id=bwcc18015

Factors Influencing Market Growth

- The development of the global solar boat market is moving due to the introduction of strict emission regulations, and also, the rise in the marine tourism industry across the globe.

- The growth of the solar boat market is hindered due to high purchase and less operational efficiency and maintenance costs of solar boats.

- The help of the government to boost the adoption of solar and electric boats is anticipated to deliver growth possibilities during the forecast period.

Impact of COVID-19

The impact of the COVID-19 pandemic has influenced delayed launches and expansion of solar and electric boats, and propulsion systems, the slowdown in the operation of key players, and also, a shortage of components.

The COVID-19 pandemic has caused disturbances in supply-chain also delayed production of electric and solar boats. The shipping industry is dependent on manufacturing, which was hindered and caused significant limitations. The shortage of components, owing to regulations linked with the import and export of goods has also resulted in delayed launch and manufacturing of solar and electric boats. A primary issue facing the boating and shipping sector is the loss of repair vessels, which leads to functional failure.

Regional Analysis

In 2022, Europe dominated the global solar boat market. The essential elements contributing toward the solar boat market growth include the responsibility of the government toward declining emission levels, innovative battery systems, encouraging zero-emission power sources, and, high performance of longer-range batteries.

Also, manufacturers are concentrating on new battery technologies to provide high-performance and longer-range batteries for solar and electric boats. The growth in emission norms and limitations in maritime transportation has guided the development of the market.

Get an Exclusive Sample Copy of the Report at: https://reportocean.com/industry-verticals/sample-request?report_id=bwcc18015

Leading Companies

The leading prominent companies profiled in the global solar boat market are: -

- ABB Ltd.
- Aquawatt (Aquawatt Green Marine Technologies)
- Boesch Motorboote AG
- Corvus Energy
- Duffy Electric Boat Company
- ElectraCraft, Inc.
- Greenline Yachts
- Grove Boats SA
- NavAlt Solar & Electric Boats Pvt. Ltd.
- Quadrofoil d.o.o.
- RAND Boats ApS
- Soel Yachts B.V.
- Torqeedo GmbH
- Vision Marine Technologies Inc.
- Other prominet key players

Segmentation Outline

The global solar boat market segmentation focuses on Battery Type, Solar Panel Type, Application and Region.

Segmentation based on Battery Type

- Lead-acid
- Lithium-ion
- Others

Segmentation based on Solar Panel Type

- Monocrystalline
- Polycrystalline

Segmentation based on Application

- Passenger Boats
- Cargo Boats
- Others

Download Sample Report, SPECIAL OFFER (Avail an Up-to 30% discount on this report )-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc18015

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa

Reasons to buy this report -

Analyze market outlook with recent trends and SWOT analysis.

Dynamic market scenario along with market growth opportunities for the coming years.

Market segmentation analysis, including qualitative and quantitative research incorporating the impact of economic and non-economic aspects.

Regional and national analyzes integrating supply and demand forces that are influencing market growth.

Market value (millions of dollars) and volume (millions of units) data for each segment and sub-segment

Competitive scenario involving the market share of the main players, along with the new projects and strategies adopted by the players in recent years.

Access Full Report Description, TOC, Table of Figure, Chart, etc.-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc18015

About Report Ocean:

We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.

Get in Touch with Us:

Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 - UNITED STATES Tel: +1 888 212 3539 (US - TOLL FREE)
Website:https://www.reportocean.com/

This release was published on openPR.