Solar Boat Market Trend is Growing Worldwide with Future Opportunities Analysis by 2031

Introduction of strict emission regulations and the growth of the marine tourism industry have boosted the growth of the global 𝐒𝐨𝐥𝐚𝐫 𝐁𝐨𝐚𝐭 𝐌𝐚𝐫𝐤𝐞𝐭. The global solar boat market was valued at $0.65 billion in 2021, and is projected to reach $2.4 billion by 2031, growing at a CAGR of 14.2% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A10180

The growth of the global solar boat market is propelling due to introduction of stringent emission regulations, and growth in the marine tourism industry across the globe. However, less operational efficiency and high purchase and maintenance cost of solar boats are factors hampering the growth of the market. Furthermore, government support to promote adoption of electric and solar boat is expected to offer growth opportunities during the forecast period.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐕𝐢𝐬𝐢𝐨𝐧 𝐌𝐚𝐫𝐢𝐧𝐞 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬 𝐈𝐧𝐜., 𝐀𝐪𝐮𝐚𝐰𝐚𝐭𝐭 𝐆𝐫𝐞𝐞𝐧 𝐌𝐚𝐫𝐢𝐧𝐞 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬, 𝐃𝐮𝐟𝐟𝐲 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐁𝐨𝐚𝐭 𝐂𝐨𝐦𝐩𝐚𝐧𝐲, 𝐓𝐨𝐫𝐪𝐞𝐞𝐝𝐨 𝐆𝐦𝐛𝐇, 𝐆𝐫𝐨𝐯𝐞 𝐁𝐨𝐚𝐭𝐬 𝐒𝐀, 𝐀𝐁𝐁 𝐋𝐓𝐃, 𝐆𝐫𝐞𝐞𝐧𝐥𝐢𝐧𝐞 𝐘𝐚𝐜𝐡𝐭𝐬, 𝐂𝐨𝐫𝐯𝐮𝐬 𝐄𝐧𝐞𝐫𝐠𝐲, 𝐒𝐨𝐞𝐥 𝐘𝐚𝐜𝐡𝐭𝐬 𝐁.𝐕., 𝐍𝐚𝐯𝐀𝐥𝐭 𝐛𝐨𝐚𝐭𝐬, 𝐄𝐥𝐞𝐜𝐭𝐫𝐚𝐂𝐫𝐚𝐟𝐭, 𝐁𝐨𝐞𝐬𝐜𝐡 𝐌𝐨𝐭𝐨𝐫𝐛𝐨𝐨𝐭𝐞 𝐀𝐆, 𝐐𝐮𝐚𝐝𝐫𝐨𝐟𝐨𝐢𝐥 𝐝.𝐨.𝐨., 𝐑𝐀𝐍𝐃 𝐁𝐨𝐚𝐭𝐬 𝐀𝐩𝐒

The report provides an in-depth analysis of top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.

Based on battery type, the lithium-ion segment accounted for the highest share in 2021, contributing to more than three-fourths of the total share, and is expected to maintain its leadership status during the forecast period. In addition, the segment is expected to manifest the highest CAGR of 14.6% from 2022 to 2031.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/140631432e08ada4f7b6f2d33381442e

Europe is expected to dominate the global solar boat market in 2021. Key factors contributing toward the market growth include, commitment of the government toward decreasing emission levels, encouraging zero-emission power sources, innovative battery systems, and high performance of longer-range batteries. Furthermore, manufacturers are focusing on new battery technologies to deliver longer-range batteries and high performance for electric and solar boats. Development in emission norms and restrictions in maritime transportation has led to the growth of the market. Increase in investments by government and private sector in research and development of battery systems and electronic components is expected to fuel the market expansion during the forecast period.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, Europe accounted for the highest share in 2021, contributing to nearly half of the global solar boat market, and is projected to continue its leadership status by 2031. However, the market across North America is projected to portray the fastest CAGR of 15.3% during the forecast period. The research also analyzes regions including Asia-Pacific and LAMEA.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A10180

Based on solar panel type, the monocrystalline segment held the largest share in 2021, accounting for nearly three-fifths of the market, and is expected to maintain its dominance in terms of revenue by 2031. However, the polycrystalline segment is estimated to witness the largest CAGR of 15.4% during the forecast period.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By battery type, the lithium-ion segment is anticipated to exhibit significant growth in the near future.

By solar panel type, the polycrystalline segment is anticipated to exhibit significant growth in the near future.

By application, the cargo boats segment is anticipated to exhibit significant growth in the near future.

By region, North America is anticipated to register the highest CAGR during the forecast period.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A10180

On the basis of application, the passenger boats segment dominated the market in 2021, accounting for more than two-thirds of the global solar boat market, and is projected to maintain its leading position throughout the forecast period. However, the cargo boats segment is estimated to showcase the highest CAGR of 16.1% during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Solar Vehicle Market - https://www.globenewswire.com/en/news-release/2020/11/24/2132536/0/en/Solar-Vehicle-Market-Worth-4-08-Billion-by-2030-Allied-Market-Research.html

Ethanol Car Market - https://www.globenewswire.com/en/news-release/2022/10/10/2530707/0/en/Ethanol-Car-Market-to-Garner-1-207-6-Billion-by-2031-Allied-Market-Research.html

Snowmobile Market - https://www.globenewswire.com/news-release/2021/10/19/2316664/0/en/Snowmobile-Market-to-Garner-2-12-Billion-by-2030-Says-AMR.html

Minibus Market - https://www.globenewswire.com/news-release/2024/01/22/2812718/0/en/Minibus-Market-to-Reach-15-5-billion-Globally-by-2032-at-4-7-CAGR-Allied-Market-Research.html

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.