Title: North America Electric Outboard Engines Market Outlook - Industry Statistics Analysis By 2027
1 North America Electric Outboard Engines Market to
expand lucratively till 2027
- North America Electric Outboard Engines Market To
Hit USD 60 Mn By 2027. North America electric
outboard engines market outlook is making
consistent advances, thanks to the region's
expanding recreational boating activities and
marine tourism. Market players are investing in
RD in order to provide cutting-edge electric
outboard motors that will appeal to a younger
demographic. - Advanced technologies in marine and shipping
systems are projected to drive North America
electric outboard engines industry forecast. Elco
Motor Yachts, Torqeedo GmbH, Minn Kota,
EPROPULSION, Combi Outboards, Bellmarine, Pure
Watercraft, and Stealth Electric Outboards are
among the leading electric outboard engine
manufacturers and suppliers in North America. - The boating industry is catching up with the auto
industry and riding the electric wave, with
Vision Marine being a pioneer in the development
of powerful electric boats. In June 2021, Vision
Marine Technologies, the first publicly traded
electric boating firm, created value proposition
in the EV market with its electric boats and its
E-Motion 180E outboard engine. This new zero
emission electric engine can drive boats at 60
mph.
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2 Commercial oil-fired boilers have become trendier
in buildings following the implementation of
strict laws and reducing oil prices in the global
market. Moreover, the implementation of digital
systems across American education institutions
has augured well for industry growth. Oil-fired
boilers have become a useful option in areas with
limited access to natural gas. These boilers have
become a cost-effective and energy-efficient
method to bolster central heating. Commercial oil
boilers are likely to account for a considerable
share of U.S. market in the forthcoming
period. End-users have shown an increased
inclination for gt100 - 250 MMBtu/hr commercial
boilers owing to the demand for rental spaces and
smart heat generation technology. Factors, such
as ease of installation, low cost per unit and
fuel flexibility will play a vital role in
fueling the demand for commercial boilers. U.S.
commercial boiler industry share from gt100 -
250 MMBtu/hr segment will grow at a significant
rate up to 2027. Steam commercial boilers will
gain upticks from the demand for the upgrade and
replacement of traditional heating systems. Not
to mention, these boilers have gained popularity
as an effective thermal insulating material with
increased efficiency. Steam boilers are expected
to be sought-after in retail stores, warehouses
and offices to leverage the formers higher fuel
output ratio, low maintenance and operation
variability.
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4 - The United States is often recognized as one of
the world's largest electric outboard engines
industries. With growing investments in the
manufacture of boats and navy vessels in both the
United States and Canada, the prospects for the
sector are expanding. Furthermore, the growing
popularity of water sports in the region is
attracting the attention of industry
participants. With that, U.S. electric outboard
engines industry forecast is anticipated to
showcase a bullish trend in the coming years.
Consumer demand for new boats grew across the
U.S. in 2020, owing to increased interest in
outdoor recreation activities which allowed
social distancing. - According to the National Marine Manufacturers
Association, retail unit sales of new powerboats
in the United States grew by an estimated 12
last year compared to 2019. More than 310,000 new
powerboats were sold in 2020. A growing number of
boating and racing events, as well as trade
exhibitions, are luring visitors toward
recreational boating. The recreational
application category is anticipated to account
for around 70 of North America electric outboard
engines industry share by 2027. - Meanwhile, technical advancements in the U.S.
marine industry, notably in naval vessels and
commercial boats, are projected to have a
positive influence on the market. By 2027, the
25-50 kW segment is anticipated to account for
more than 15 of the total industry size in North
America. The need for commercial electric
outboard systems with excellent performance,
better safety requirements, and ease of operation
may be ascribed to the growing adoption of these
engines. With recreational boating activities
gaining traction in the market, product adoption
is expected to rise.
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5 Segments of North America Electric Outboard
Engines Market
- North America Market, by Operation
- Tiller
- Remote
- North America Market, by Application
- Commercial
- Recreational
- Military
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