Outboard electric motors market is anticipated to grow at a CAGR of 5.1% during the forecast period. The rising concern to minimize the increasing air pollution across the globe is the major factor that contributes to the growth of the market. The key players are inclined to launch electric-driven products to reduce air pollution and stay competitive in the market. For instance, in March 2022, Rim Drive Technology BV, offers a rim drive electric outboard motor; launched a 15-kilowatt (?25 HP) model to extend its current line-up of 4 outboards. The company also offers electric rim drives in pod motor and thruster configurations. The motor is specially designed for military/defense applications, its reduced vibrations and noise make it more difficult for monitoring technology to detect and track the vessels, which attract users to purchase electric rim outboard motor, thus increasing the electric outboard motor market.
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In January 2023, Brunswick launches all-electric marine outboard. The Avator 7.5e will be the first in Mercury Marine’s full line of electric outboard motors. Further, in February 2022, Brunswick corp (Mercury Marine) announced the launching of an electric outboard motor called Avator at the Miami International Boat Show. The motor is designed for smaller boats and has a removable and interchangeable battery system that allows for easy and fast recharging. Additionally, the motor has a screen display that displays the battery level.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Outboard Electric Motors Market Report Segment
By Motor Type
- Propulsion Motors
- Trolling Motors
By Power
- Below 25kW
- 25 to 50kW
- 50 to 150kW
By Application
- Military
- Commercial
- Recreational
Global Outboard Electric Motors Market Report by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2023 and forecast to 2029.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global outboard electric motors market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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