Industry Outlook and Trend Analysis
The Marine Electric Vehicles Market has witnessed significant growth in the recent years and is anticipated to grow tremendously over the forecast period. A Marine electric vehicle makes use of at least one electric motors or traction motors for force. A Marine electric vehicle might be controlled through a collector system by power from off-vehicle sources, or might be self-contained with a battery, an electric generator or solar panels to change over fuel to electricity. EVs incorporate, yet are not constrained to, road and rail vehicles, surface and underwater vessels, electric spacecraft and electric aircraft.
Drivers and Restraints
The developing demand for electric unmanned underwater vehicles (UUVs) has been a key development driver for this market. UUVs have broad applications in maritime operations like detailed mapping of the ocean floor, off-shore hydrocarbon extraction, and scientific research. Besides, UUVs are fitted with superior quality cameras that effectively transmit information from the UUV to the administrator. With improved control of the vehicle and better images, a superior examination of the underwater environment is conceivable. The expanding exercises associated with seabed mapping from oil and gas and defence sectors will push the market for marine electric vehicles amid the gauge time frame.
Vehicle Type Outlook and Trend Analysis
In 2015, the work boats segment commanded the marine electric vehicles market and represented around 36% of the share of the overall industry. The expanding pressures from International Maritime Organization to protect the earth from discharges created by water crafts and vessels have influenced merchants to consider approaches to decrease the usage of fuel. Subsequently, they are choosing alternative forms of technology like work boats and AUVs in oil and gas industry, therefore pushing the development prospects of this market portion in the coming years.
Regional Outlook and Trend Analysis
In 2015, the Americas ruled the market representing about 51% of the market share. Factors like the constant and extended support from the government to create electric vehicles, the urgent requirement for the lessening of carbon emissions, and unstable fuel prices to boost this market’s development in the region over the estimated time frame.
The leading players in the market are Duffy Electric Boat Company, Corvus Energy, Tamarack Lake Electric Boat Company, Torqeedo, Electrovaya, Blue Riband, Triton Submarines, Saft Groupe S.A and Boesch Boats. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Marine Electric Vehicles Market is segmented as follows-
By Vehicle Type:
Leisure and tourist surface boats
Personal and tourist submarines
Automated utility vehicles (AUVs)
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?