Electric Boat Market| Growing at a CAGR of 11.9% from 2019 to 2027
December 30, 2020 | by admin |
The latest market report published by Credence Research, Inc. “
Electric Boat Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the global market is worth US$ 4.49 Bn in 2018 and expected to grow at a CAGR of 11.9% during the forecast period from 2019 to 2027.
Market Insights
Advancement in battery technology and decreasing battery prices is fueling the market growth
High pollution rate of gasoline-powered combustion boat and rising fuel prices have shifted the priority of boat manufacturers to battery technology. Advancement in battery technology that offers longer run-time and higher speed is driving the demand for Electric Boat market, worldwide. In addition, noteworthy advantages offered by Electric Boat such as noiseless, smokeless, less vibration and less engine maintenance than the combustion boat helped the market to grow con