Electric Boat Market Insights into Fishing, Leisure, and Deck Boat Uses

The global electric boat market size was estimated at USD 6.78 billion in 2024 and is projected to reach USD 14.09 billion by 2030, growing at a CAGR of 13.5% from 2025 to 2030. The market is gaining momentum, driven by stringent environmental regulations aimed at reducing emissions and achieving global carbon neutrality goals.

Rising environmental regulations are a major growth driver for the electric boat market. Governments worldwide are implementing stricter emission standards and carbon reduction targets, such as the International Maritime Organization’s (IMO) 2020 sulfur cap and the European Union’s Green Deal, which aims for climate neutrality by 2050. These regulations mandate reduced greenhouse gas emissions and lower levels of water and air pollution from marine vessels. Consequently, boat manufacturers and operators are increasingly adopting electric propulsion systems to comply with these standards. As a result, demand for electric boats has accelerated across both recreational and commercial sectors, with regulatory compliance serving as a key catalyst for market expansion.

Key Market Trends & Insights

• North America accounted for 46.8% of the global market share in 2024.
• The U.S. electric boat industry held a dominant position in 2024.
• By boat type, the leisure boats segment accounted for the largest share of 42.1% in 2024.
• By propulsion type, the outboard electric propulsion segment held the largest share in 2024.
• By battery type, lithium-ion batteries accounted for the largest share in 2024.

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Market Size & Forecast

• 2024 Market Size: USD 6.78 Billion
• 2030 Projected Market Size: USD 14.09 Billion
• CAGR (2025–2030): 13.5%
• North America: Largest market in 2024

Competitive Landscape

The following are the leading companies in the electric boat market. These companies collectively hold the largest market share and influence industry trends:

• Yamaha Motor Co., Ltd.
• Vision Marine Technologies
• Duffy Electric Boat Company
• RAND Boats ApS
• SVP Yachts d.o.o. (Greenline)
• ElectraCraft, Inc.
• Frauscher Bootswerft GmbH
• X Shore AB
• Pure Watercraft Inc.
• Volvo Penta Corporation

Recent Developments

• May 2025: Australian boatbuilder Incat launched Hull 096, the world’s largest battery-powered ship at 130 meters, designed for ferry service between Buenos Aires and Uruguay. It can carry 2,100 passengers and 225 vehicles, marking a milestone in sustainable electric shipping technology.
• February 2025: Vision Marine Technologies deepened its partnership with Electrified Marina, a leading 100% electric watercraft dealer. This collaboration aims to expand adoption of Vision Marine's E-Motion electric propulsion technology, boosting availability of high-performance electric boats on the East Coast.
• December 2024: Porsche AG and Frauscher Shipyard unveiled the Frauscher x Porsche 850 Fantom, a high-performance electric sports boat powered by the all-electric drive unit of the Porsche Macan Turbo. The model joins the earlier eFantom in a limited First Edition of 25 units.

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Conclusion

The electric boat market is experiencing rapid growth, driven by environmental regulations, technological innovations, and rising consumer interest in sustainable marine solutions. With continued expansion in North America and increasing adoption in recreational and commercial segments, the market is poised for strong growth in both value and product variety.