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Electric Boat Market: Where are Stakeholders Growing Their Stakes?

Electrification in propulsion systems for water vessels have picked up considerable steam over the years. The range of options for electrifications have been expanding—with battery technologies being at the forefront—and generating impetus to the electric boat market. The drive for electrification of the marine industry is deep-rooted in the relentless focus on reducing the carbon emission on one hand. While on the other hand, diesel-powered boats and ships have attracted sharp criticism on account of numerous pollutant that they spew out to the environment. Electric hybrid systems are rising in industry interest. The electrical drive systems is expected to gain adoption in ferries, tugboats, fishing trawlers, and tour boats. Efforts to integrate the drive systems of the ship with renewables likely to pave the way to next-gen products in the electric boat market 

 Advancements in electronic control interfaces and constant improvements in motors used have shaped product developments in the electric boat market. Promising new-age battery technologies have generated impetus to R&D initiatives notably in Europe and the U.S. In other countries as well, electric boats meant for inland waterway systems are likely to bag new commercialization avenues.  

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 Massive Funding Rounds to Generate Trust to Product Development 

 Spiralling interest in cementing the EV adoption in maritime transportation especially in European Union has spurred boat manufacturers to expand their capacities. A case in point is a Swedish electric boat manufacturer X Shore which has production plants that currently churn out two Eelex 8000 electric boats a day; a number of that are expected to be shipped to the U.S. The company is keen to adopt new battery technologies for the electric boat models that target racing. The electrification of racing boats is a huge trend. Evidently enough, this is likely to catalyze new funding for batteries in the electric boat market. Not surprisingly enough, partnerships with marine charging network to cater to the emerging demand have generated interest among the concerned industry players. Of note, the company has bagged US$ 50 million dollars for augmenting its production of electric boats.  

 The commercialization of advanced maritime charging systems will stridently shape new avenues in the electric boat market. The Swedish electric boat manufacturer is increasingly leveraging the synergy with Aqua Superpower and for gaining access to marinised dockside network of fast chargers for electric boats. The company has also partnered with Kriesel Electric for the availability of better-performing marine batteries. 

 New Boat Designs Extending Canvas for Battery and Motor Manufacturers in Electric Boat Market 

 Designers world over are geared toward unveiling innovative designs for battery and motor cabinets. They are squarely focused on making the electric boats more lightweight so as to boost the battery range, given that battery-powered boats enjoy massive market potential. Thus, optimizing the overall boat space can’t be left as an afterthought for companies in the electric boat market. Boats with remarkable low weight are expected to create a steady demand among users demanding race boats.  

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 New Technologies in All-electric Boats Opening New Frontiers  

 All-electric race boats powered entirely by electrical propulsion system are generating an incredible impetus to the expansion of new avenues in the electric boat market. Some astounding vehicle models have come to the fore, with particular interest in Formula 1 for race boats—a milestone in RaceBird E1 Series. The series notably is harnessing hydrofoil design for its nex-gen electric boats. RaceBird considers this the world’s first all-electric boat.  

 Such product launches undoubtedly raise the ante for other pioneers and innovators in the electric boat market. The designers behind the electric boat series have worked meticulously to arrive at designs that combine performance with safety. Interestingly, numerous iterations have taken place to arrive the current design, stated the companies proudly. The electric boat is still to see the ‘water’—that is, the boats will soon be evaluated whether it is a technology for race winners as the maker claims these are.  


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