Global Electric Outboard Engines Market 2025-2035

Description

List of Tables

Electric Outboard Engines Market Size, Share & Trends Analysis Report by Power (Less Than 3 kW, 3 - 6 kW, 7 - 10 kW, 11 - 15 kW, 16 kW - 25 kW, 26 - 50 kW, 51 - 150 kW, 151- 200 kW, and Above 200 kW), by Application (Fishing, Cruising, Sailing, Transportation, Rescue and Safety, and Military) and by Boat Type (Open Motorboats, Personal Watercrafts, Cabin Motorboats, Sailboats, Dinghies, Pontoon Boats, Fishing Boats, Deck boats, Kayaks/ Canoes, and Others) Forecast Period (2025-2035)

Industry Overview

Electric outboard engine market size was valued at $154 million and is anticipated to grow at a CAGR of 6.2% during the forecast period (2025-2035). Electric outboard engines are in high demand owing to the growing number of eco-friendly marine solutions being promoted by governments across the globe. Improvements in battery technology, increasing fuel prices, and recreational boating made electric engines more affordable.

Market Dynamics

Technological Advancements

Technological advancement of batteries, motors, propellers, and controls is propelling the market growth during the forecast period. For instance, in March 2024, ACEL showcased Electric Outboard Motors- IE 150 and IE 250. IE 150 and IE 250 produced powers of 150HP and 350HP respectively. The outboards are driven by ACEL's newest 800V platform and SIC semiconductor technology. It reaches 95.8% powertrain efficiency. System weight has decreased, and the range increased from 50HP to 250HP.

Rising Consumer Preference for Sustainable Solutions

The growing demand for eco-friendly alternatives to traditional petrol or diesel engines, particularly electric outboard engines, is driving market growth owing to increased environmental awareness. For instance, in January 2023, Brunswick launched the Aviator 7.5e, an all-electric marine outboard rated at 750W that is suitable for small boats. It features a 48V/1kWh pack, is IP67 water-resistant, and uses swappable lithium-ion batteries paired with Mastervolt.

Market Segmentation

Based on the power, the market is segmented into Less Than 3 kW, 3 - 6 kW, 7 - 10 kW, 11 - 15 kW, 16 kW - 25 kW, 26 - 50 kW, 51 - 150 kW, 151- 200 kW, and Above 200 kW.
Based on the application, the market is segmented into fishing, cruising, sailing, transportation, rescue and safety, and military.
Based on the end user, the market is segmented into open motorboats, personal watercraft, cabin motorboats, sailboats, dinghies, pontoon boats, fishing boats, deck boats, kayaks/ canoes, and other (rigid inflatable boats, and more).

Above 200 kW segment is projected to Hold the Largest Market Share

Electric outboard engines with power above 200 kW are becoming more popular as a sustainable option for powering boats and marine vessels. The engines are used in various applications such as passenger ferries, cargo ships, luxury recreational boats, sports and performance boats, naval vessels, and environmental monitoring boats. As governments focus on reducing emissions and promoting decarbonization, the engines are frequently paired with solar panels or wind turbines to enable self-charging.

Fishing Boats Segment to Hold a Considerable Market Share

Electric outboard engines are mainly used in fishing boats owing to their reserved operation, which can be used for recreational and small-scale commercial, eco-tourism, leisure, rescue, utility, and sailing purposes. It features improved battery systems, is reserved, and complies with emission regulations, which give consumers an additional edge. The increasing popularity of recreational fishing around the world additionally increases demand for small, efficient fishing boats equipped with electric propulsion systems. The engines are useful in sensitive areas such as lakes and reservoirs.

Regional Outlook

The global electric outboard engines market is further segmented based on geography including North America (the US, and Canada), Europe (the UK, Germany, France, Italy, Spain, Russia, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, Australia and New Zealand, ASEAN Countries, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Consumer Demand for Sustainable Tourism in the Asia-Pacific Region

The marine and leisure boating industries are incorporating electric propulsion systems to cater to eco-conscious tourists and businesses, driving market growth. For instance, in August 2024, Avalt launched the fourth solar-electric boat, 'The Origin,' from Sukhna Lake in Punjab. The boat is part of the Marsel series, offering an eco-friendly mode of marine transportation and cruising comfort for 25 passengers onboard. The boat is powered by twin 20 kWh Ray LFP marine-grade battery packs, twin 6 kW electric outboard motors, and an ORCA electric steering system. The Marsel series is from Navalt, which aims to provide cleaner and quieter waters.

North America Holds Major Market Share

North America holds a significant share owing to the technological advancements in battery technology, including improved energy density and charging speeds, rendering electric boats more practical and environmentally friendly, driving market growth. For instance, in October 2024, Evoy Vita introduced the AX/E electric boat sub-brand in the US, featuring the Evoy Storm 300+ HP motor, offering a quieter, fume-free experience for recreational boaters. The innovative technology combines cutting-edge electric propulsion technology with Axopar's renowned hull design and seaworthiness, offering peak driving efficiency and minimizing environmental influence.

Market Players Outlook

The major companies serving the electric outboard engines market include Brunswick Corp., Evoy AS, ePropulsion, Tohatsu Corp., Yamaha Motor Corp., and others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market.

Recent Developments

In February 2024, Tohatsu Corp. and Ilmor Marine partnered in electric outboard technology, to propel marine engine manufacturing with Ilmor's engineering. The first product is a 6kW electric outboard with integrated features integrated tilt and trim, a gauge-style touch screen for centralized system operations, and multiple shaft and prop variants.
In June 2024, Mercury Marine introduced the Avator 75E and 110E electric outboard motors, which are part of its all-electric propulsion range. The motors, feature Avator's first crossflow motor technology, to offer instant torque and reliable power.

The Report Covers:

Market value data analysis of 2024 and forecast to 2035.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global electric outboard engines market. Based on the availability of data, information related to new products, 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.

Product Code: OMR2028841

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
Global Electric Outboard Engines Market Sales Analysis - Power| Application | Boat Type
Electric Outboard Engines Market Sales Performance of Top Countries
1.1. Research Methods and Tools
Primary Research Approach
Secondary Research Approach
1.2. Market Snapshot

2. Market Overview and Insights

2.1. Scope of the Study
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Electric Outboard Engines Industry Trends
- 2.2.2. Market Recommendations
2.3. Porter's Five Forces Analysis for the Electric Outboard Engines Market
- 2.3.1. Competitive Rivalry
- 2.3.2. Threat of New Entrants
- 2.3.3. Bargaining Power of Suppliers
- 2.3.4. Bargaining Power of Buyers
- 2.3.5. Threat of Substitutes

3. Market Determinants

3.1. Market Drivers
- 3.1.1. Drivers For Electric Outboard Engines Market: Impact Analysis
3.2. Market Pain Points and Challenges
- 3.2.1. Restraints For Electric Outboard Engines Market: Impact Analysis
3.3. Market Opportunities

4. Competitive Landscape

4.1. Competitive Dashboard - Electric Outboard Engines Market Revenue and Share by Manufacturers
Electric Outboard Engines Product Comparison Analysis
Top Market Player Ranking Matrix
4.2. Key Company Analysis
- 4.2.1. Brunswick Corp.
  - 4.2.1.1. Overview
  - 4.2.1.2. Product Portfolio
  - 4.2.1.3. Financial Analysis (Subject to Data Availability)
  - 4.2.1.4. SWOT Analysis
  - 4.2.1.5. Business Strategy
- 4.2.2. Evoy AS
  - 4.2.2.1. Overview
  - 4.2.2.2. Product Portfolio
  - 4.2.2.3. Financial Analysis (Subject to Data Availability)
  - 4.2.2.4. SWOT Analysis
  - 4.2.2.5. Business Strategy
- 4.2.3. Tohatsu Corp.
  - 4.2.3.1. Overview
  - 4.2.3.2. Product Portfolio
  - 4.2.3.3. Financial Analysis (Subject to Data Availability)
  - 4.2.3.4. SWOT Analysis
  - 4.2.3.5. Business Strategy
4.3. Top Winning Strategies by Market Players
- 4.3.1. Merger and Acquisition
- 4.3.2. Product Launch
- 4.3.3. Partnership And Collaboration

5. Global Electric Outboard Engines Market Sales Analysis by Power ($ Million)

5.1. Less Than 3 kW
5.2. 3 - 6 kW
5.3. 7 - 10 kW
5.4. 11 - 15 kW
5.5. 16 kW - 25 kW
5.6. 26 - 50 kW
5.7. 51 - 150 kW
5.8. 151- 200 kW
5.9. Above 200 kW

6. Global Electric Outboard Engines Market Sales Analysis by Application ($ Million)

6.1. Fishing
6.2. Cruising
6.3. Sailing
6.4. Transportation
6.5. Rescue and Safety
6.6. Military

7. Global Electric Outboard Engines Market Sales Analysis by Boat Type ($ Million)

7.1. Open Motorboats
7.2. Personal Watercrafts
7.3. Cabin Motorboats
7.4. Sailboats
7.5. Dinghies
7.6. Pontoon Boats
7.7. Fishing Boats
7.8. Deck boats
7.9. Kayaks/ Canoes
7.10. Other (Rigid Inflatable Boats, and more)

8. Regional Analysis

8.1. North American Electric Outboard Engines Market Sales Analysis - Power| Application | Boat Type | Country ($ Million)
Macroeconomic Factors for North America
- 8.1.1. United States
- 8.1.2. Canada
8.2. European Electric Outboard Engines Market Sales Analysis - Power| Application | Boat Type | Country ($ Million)
Macroeconomic Factors for Europe
- 8.2.1. UK
- 8.2.2. Germany
- 8.2.3. Italy
- 8.2.4. Spain
- 8.2.5. Russia
- 8.2.6. France
- 8.2.7. Rest of Europe
8.3. Asia-Pacific Electric Outboard Engines Market Sales Analysis - Power| Application | Boat Type | Country ($ Million)
Macroeconomic Factors for Asia-Pacific
- 8.3.1. China
- 8.3.2. Japan
- 8.3.3. South Korea
- 8.3.4. India
- 8.3.5. Australia & New Zealand
- 8.3.6. ASEAN Countries (Thailand, Indonesia, Vietnam, Singapore, And Other)
- 8.3.7. Rest of Asia-Pacific
8.4. Rest of the World Electric Outboard Engines Market Sales Analysis - Power| Application | Boat Type | Country ($ Million)
Macroeconomic Factors for the Rest of the World
- 8.4.1. Latin America
- 8.4.2. Middle East and Africa

9. Company Profiles

9.1. ACEL Power Inc.
- 9.1.1. Quick Facts
- 9.1.2. Company Overview
- 9.1.3. Product Portfolio
- 9.1.4. Business Strategies
9.2. Aquamot GmbH
- 9.2.1. Quick Facts
- 9.2.2. Company Overview
- 9.2.3. Product Portfolio
- 9.2.4. Business Strategies
9.3. Brunswick Corp.
- 9.3.1. Quick Facts
- 9.3.2. Company Overview
- 9.3.3. Product Portfolio
- 9.3.4. Business Strategies
9.4. Elco Motor Yachts
- 9.4.1. Quick Facts
- 9.4.2. Company Overview
- 9.4.3. Product Portfolio
- 9.4.4. Business Strategies
9.5. Electric Propulsion Systems B.V.
- 9.5.1. Quick Facts
- 9.5.2. Company Overview
- 9.5.3. Product Portfolio
- 9.5.4. Business Strategies
9.6. Electrin Inc.
- 9.6.1. Quick Facts
- 9.6.2. Company Overview
- 9.6.3. Product Portfolio
- 9.6.4. Business Strategies
9.7. ePropulsion
- 9.7.1. Quick Facts
- 9.7.2. Company Overview
- 9.7.3. Product Portfolio
- 9.7.4. Business Strategies
9.8. Evoy AS
- 9.8.1. Quick Facts
- 9.8.2. Company Overview
- 9.8.3. Product Portfolio
- 9.8.4. Business Strategies
9.9. Flux Marine
- 9.9.1. Quick Facts
- 9.9.2. Company Overview
- 9.9.3. Product Portfolio
- 9.9.4. Business Strategies
9.10. Golden Motor Technology Co. Ltd.
- 9.10.1. Quick Facts
- 9.10.2. Company Overview
- 9.10.3. Product Portfolio
- 9.10.4. Business Strategies
9.11. Greenboatsolutions GmbH
- 9.11.1. Quick Facts
- 9.11.2. Company Overview
- 9.11.3. Product Portfolio
- 9.11.4. Business Strategies
9.12. MOLABO GmbH
- 9.12.1. Quick Facts
- 9.12.2. Company Overview
- 9.12.3. Product Portfolio
- 9.12.4. Business Strategies
9.13. Pure Watercraft, Inc.
- 9.13.1. Quick Facts
- 9.13.2. Company Overview
- 9.13.3. Product Portfolio
- 9.13.4. Business Strategies
9.14. RAD Propulsion Ltd
- 9.14.1. Quick Facts
- 9.14.2. Company Overview
- 9.14.3. Product Portfolio
- 9.14.4. Business Strategies
9.15. Ray Electric Outboards, Inc.
- 9.15.1. Quick Facts
- 9.15.2. Company Overview
- 9.15.3. Product Portfolio
- 9.15.4. Business Strategies
9.16. Rim Drive Technology B.V
- 9.16.1. Quick Facts
- 9.16.2. Company Overview
- 9.16.3. Product Portfolio
- 9.16.4. Business Strategies
9.17. Stream Propulsion AB
- 9.17.1. Quick Facts
- 9.17.2. Company Overview
- 9.17.3. Product Portfolio
- 9.17.4. Business Strategies
9.18. Suzhou PARSUN Power Machine Ltd.
- 9.18.1. Quick Facts
- 9.18.2. Company Overview
- 9.18.3. Product Portfolio
- 9.18.4. Business Strategies
9.19. TEMO SAS
- 9.19.1. Quick Facts
- 9.19.2. Company Overview
- 9.19.3. Product Portfolio
- 9.19.4. Business Strategies
9.20. Torqeedo GmbH
- 9.20.1. Quick Facts
- 9.20.2. Company Overview
- 9.20.3. Product Portfolio
- 9.20.4. Business Strategies
9.21. Tohatsu Corp.
- 9.21.1. Quick Facts
- 9.21.2. Company Overview
- 9.21.3. Product Portfolio
- 9.21.4. Business Strategies
9.22. Vision Marine Technologies Inc.
- 9.22.1. Quick Facts
- 9.22.2. Company Overview
- 9.22.3. Product Portfolio
- 9.22.4. Business Strategies
9.23. Wolong Electric Group
- 9.23.1. Quick Facts
- 9.23.2. Company Overview
- 9.23.3. Product Portfolio
- 9.23.4. Business Strategies