The MEA electric boat market is expected to grow from US$ 104.49 million in 2022 to US$ 196.25 million by 2028. It is estimated to grow at a CAGR of 11.1% from 2022 to 2028.
Increasing Installation of Superchargers at Smaller Ports is Boosting the MEA Electric Boat Market
Superchargers have a capacity of 150 kW, which reduces the average charging time of electric boats from six hours to one hour. With developments in battery-powered systems, superchargers, boat owners are shifting toward high-kilowatt cruising models as they offer extended kilometer ranges and reduce charging time. Boat owners used to charge their boat batteries overnight; however, the supercharger has reduced this time with high power capacity. Also, growing recreational boating activities and rising government support for electric boats are expected to offer lucrative growth opportunities for improving charging infrastructure at smaller and medium-sized ports using superchargers in the coming years. Hence, the rising installation of superchargers at ports is expected to provide growth opportunities for the MEA electric boat market.MEA Electric Boat Market Overview
South Africa, Saudi Arabia, and the UAE are among the prime contributors to the MEA electric boat market. The market in the region is in a developing phase and currently witnessing relatively moderate growth in terms of demand and sales of electric boats. The Middle East accounts for 12% of the world’s superyachts. In 2022, electric vessels, innovative technologies, and luxury electric sailing yachts and boats were displayed at Dubai International Boat Show. In addition, faro boats, which are fully electric boats with solar charging dock, were displayed in the show. Therefore, awareness and demand for electric boats increased tremendously in the region. Developmental strategies by various local and federal governments are expected to propel the development of electric boating and marine infrastructure in the coming years. For instance, the project “Solar Fueled Electric Maritime Mobility” by SINTEF (Stiftelsen for industriell og teknisk forskning), an independent nonprofit research institute, demonstrated the feasibility and the social, economic, and environmental benefits of electric boats in Africa. Also, the project combines SINTEF’s several research areas including solar energy, power systems, marine technology, and future transport systems. The SINTEF initiated to develop technology for a traditional ferry with a plug-in hybrid electric powertrain and further constructed an electric charging point. Thus, the growing number of developments and initiatives toward electric boats are anticipated to boost the MEA electric boat market growth during the forecast period.MEA Electric Boat Market Segmentation
The MEA electric boat market is segmented into boat type, battery type, application, and country. Based on boat type, the market is segmented into pure electric and hybrid segment. The pure electric segment registered a larger market share in 2022.- Based on type, the MEA electric boat market is segmented into nickel based, lead acid, and lithium-ion. The lithium-ion segment registered the largest market share in 2022. Based on application, the MEA electric boat market is segmented into fishing, recreational, and others. The recreational segment registered the largest market share in 2022. Based on country, the MEA market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The Rest of MEA dominated the market share in 2022. Duffy Electric Boat Company, Frauscher Bootswerft GmbH & Co KG, Quadrofoil D.O.O, and Vision Marine Technologies Inc. are the leading companies operating in the MEA electric boat market.
Table of Contents
1. Introduction1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. MEA Electric Boat Market Landscape
4.1 Market Overview
4.2 MEA PEST Analysis
4.2.1 MEA
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. MEA Electric Boat Market- Key Market Dynamics
5.1 Market Drivers
5.1.1 Stringent Government Regulations for Controlling Greenhouse Gas Emissions
5.1.2 Increasing Network for Charging Points in Marine Infrastructure for Small Boats
5.2 Market Restraints
5.2.1 High Cost of Batteries and Range Limitations
5.3 Market Opportunities
5.3.1 Increasing Installation of Superchargers at Smaller Ports
5.4 Future Trends
5.4.1 Rising Inclination Toward Solar-Electric Boats
5.5 Impact Analysis of Drivers and Restraints
6. Electric Boat Market- MEA Market Analysis
6.1 MEA Electric Boat Market Overview
6.2 MEA Electric Boat Market Forecast and Analysis
7. MEA Electric Boat Market Revenue and Forecast to 2028 - Boat Type
7.1 Overview
7.2 MEA Electric Boat Market, By Boat Type (2021 And 2028)
7.3 Pure Electric
7.3.1 Overview
7.3.2 Pure Electric: Electric Boat Market Revenue and Forecast To 2028 (US$ Million)
7.4 Hybrid
7.4.1 Overview
7.4.2 Hybrid: Electric Boat Market Revenue and Forecast To 2028 (US$ Million)
8. MEA Electric Boat Market Revenue and Forecast to 2028 - Battery Type
8.1 Overview
8.2 MEA Electric Boat Market, By Battery Type (2021 And 2028)
8.3 Nickel Based
8.3.1 Overview
8.3.2 Nickel Based: Electric Boat Market Revenue and Forecast To 2028 (US$ Million)
8.4 Lead Acid
8.4.1 Overview
8.4.2 Lead Acid: Electric Boat Market Revenue and Forecast To 2028 (US$ Million)
8.5 Lithium-ion
8.5.1 Overview
8.5.2 Lithium-ion: Electric Boat Market Revenue and Forecast To 2028 (US$ Million)
9. MEA Electric Boat Market - By Application
9.1 Overview
9.2 MEA Electric Boat Market, by Application (2021 and 2028)
9.3 Fishing
9.3.1 Overview
9.3.2 Fishing: Electric Boat Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Recreational
9.4.1 Overview
9.4.2 Recreational: Electric Boat Market - Revenue and Forecast to 2028 (US$ Million)
9.5 Others
9.5.1 Overview
9.5.2 Others: Electric Boat Market - Revenue and Forecast to 2028 (US$ Million)
10. MEA Electric Boat Market- Country Analysis
10.1 Overview
10.1.1 Middle East and Africa: Electric Boat Market, by Key Country
10.1.1.1 South Africa: Electric Boat Market- Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 South Africa: Electric Boat Market, By Boat Type
10.1.1.1.2 South Africa: Electric Boat Market, By Battery Type
10.1.1.1.3 South Africa: Electric Boat Market, By Application
10.1.1.2 Saudi Arabia: Electric Boat Market- Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Saudi Arabia: Electric Boat Market, By Boat Type
10.1.1.2.2 Saudi Arabia: Electric Boat Market, By Battery Type
10.1.1.2.3 Saudi Arabia: Electric Boat Market, By Application
10.1.1.3 UAE: Electric Boat Market- Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 UAE: Electric Boat Market, By Boat Type
10.1.1.3.2 UAE: Electric Boat Market, By Battery Type
10.1.1.3.3 UAE: Electric Boat Market, By Application
10.1.1.4 Rest of MEA: Electric Boat Market- Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 Rest of MEA: Electric Boat Market, By Boat Type
10.1.1.4.2 Rest of MEA: Electric Boat Market, By Battery Type
10.1.1.4.3 Rest of MEA: Electric Boat Market, By Application
11. Industry Landscape
11.1 Overview
11.2 New Product Development
12. Company Profiles
12.1 Frauscher Bootswerft GmbH & Co KG
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Duffy Electric Boat Company
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Vision Marine Technologies Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Quadrofoil D.O.O
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
13. Appendix
13.1 About the Publisher
13.2 Word Index
Table 1. MEA Electric Boat Market, Revenue and Forecast, 2019-2028 (US$ Million)
Table 2. MEA: Electric Boat Market, By Key Country - Revenue and Forecast to 2028 (US$ Million)
Table 3. South Africa: Electric Boat Market, By Boat Type - Revenue and Forecast to 2028 (US$ Million)
Table 4. South Africa: Electric Boat Market, By Battery Type - Revenue and Forecast to 2028 (US$ Million)
Table 5. South Africa: Electric Boat Market, By Application- Revenue and Forecast to 2028 (US$ Million)
Table 6. Saudi Arabia: Electric Boat Market, By Boat Type - Revenue and Forecast to 2028 (US$ Million)
Table 7. Saudi Arabia: Electric Boat Market, By Battery Type - Revenue and Forecast to 2028 (US$ Million)
Table 8. Saudi Arabia: Electric Boat Market, By Application- Revenue and Forecast to 2028 (US$ Million)
Table 9. UAE: Electric Boat Market, By Boat Type - Revenue and Forecast to 2028 (US$ Million)
Table 10. UAE: Electric Boat Market, By Battery Type - Revenue and Forecast to 2028 (US$ Million)
Table 11. UAE: Electric Boat Market, By Application- Revenue and Forecast to 2028 (US$ Million)
Table 12. Rest of MEA: Electric Boat Market, By Boat Type - Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of MEA: Electric Boat Market, By Battery Type - Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of MEA: Electric Boat Market, By Application- Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation
Figure 1. MEA Electric Boat Market Segmentation
Figure 2. MEA Electric Boat Market Segmentation - by Country
Figure 3. MEA Electric Boat Market Overview
Figure 4. MEA Electric Boat Market, By Boat Type
Figure 5. MEA Electric Boat Market, By Country
Figure 6. MEA: PEST Analysis
Figure 7. Electric Boat Market Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. MEA Electric Boat Market: Impact Analysis of Drivers and Restraints
Figure 10. MEA Electric Boat Market, Forecast and Analysis (US$ Million)
Figure 11. MEA Electric Boat Market, By Boat Type (2021 and 2028)
Figure 12. Pure Electric: MEA Electric Boat Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. Hybrid: MEA Electric Boat Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. MEA Electric Boat Market, By Battery Type (2021 and 2028)
Figure 15. Nickel Based: MEA Electric Boat Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. Lead Acid: MEA Electric Boat Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Lithium-ion: MEA Electric Boat Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. MEA Electric Boat Market Revenue Share, by Application (2021 and 2028)
Figure 19. Fishing: MEA Electric Boat Market - Revenue and Forecast to 2028 (US$ Million)
Figure 20. Recreational: MEA Electric Boat Market - Revenue and Forecast to 2028 (US$ Million)
Figure 21. Others: MEA Electric Boat Market - Revenue and Forecast to 2028 (US$ Million)
Figure 22. MEA: Electric Boat Market, by Key Country - Revenue (2021) (US$ Million)
Figure 23. Middle East and Africa: Electric Boat Market Revenue Share, By Key Country (2021 and 2028)
Figure 24. South Africa: Electric Boat Market- Revenue and Forecast to 2028 (US$ Million)
Figure 25. Saudi Arabia: Electric Boat Market- Revenue and Forecast to 2028 (US$ Million)
Figure 26. UAE: Electric Boat Market- Revenue and Forecast to 2028 (US$ Million)
Figure 27. Rest of MEA: Electric Boat Market- Revenue and Forecast to 2028 (US$ Million)
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Duffy Electric Boat Company
- Frauscher Bootswerft GmbH & Co KG
- Quadrofoil D.O.O
- Vision Marine Technologies Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 89 |
| Published | January 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 104.49 Million |
| Forecasted Market Value ( USD | $ 196.25 Million |
| Compound Annual Growth Rate | 11.1% |
| Regions Covered | Africa, Middle East |
