Middle East & Africa Electric Boat Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Boat Type (Pure Electric and Hybrid), Battery Type (Nickel Based, Lead Acid, and Lithium-ion), and Application (Fishing, Recreational, and Others)
The Middle East & Africa electric boat market is expected to grow from US$ 104.49 million in 2022 to US$ 196.25 million by 2028. It is estimated to grow at a CAGR of 11.1% from 2022 to 2028.
Increasing Installation of Superchargers at Smaller Ports is Boosting the Middle East & Africa Electric Boat Market
Superchargers have a capacity of 150 kW, which reduces the average charging time of electric boats from six hours to one hour. With developments in battery-powered systems, superchargers, boat owners are shifting toward high-kilowatt cruising models as they offer extended kilometer ranges and reduce charging time. Boat owners used to charge their boat batteries overnight; however, the supercharger has reduced this time with high power capacity. Also, growing recreational boating activities and rising government support for electric boats are expected to offer lucrative growth opportunities for improving charging infrastructure at smaller and medium-sized ports using superchargers in the coming years. Hence, the rising installation of superchargers at ports is expected to provide growth opportunities for the Middle East & Africa electric boat market.
Middle East & Africa Electric Boat Market Overview
South Africa, Saudi Arabia, and the UAE are among the prime contributors to the Middle East & Africa electric boat market. The market in the region is in a developing phase and currently witnessing relatively moderate growth in terms of demand and sales of electric boats. The Middle East accounts for 12% of the world’s superyachts. In 2022, electric vessels, innovative technologies, and luxury electric sailing yachts and boats were displayed at Dubai International Boat Show. In addition, faro boats, which are fully electric boats with solar charging dock, were displayed in the show. Therefore, awareness and demand for electric boats increased tremendously in the region. Developmental strategies by various local and federal governments are expected to propel the development of electric boating and marine infrastructure in the coming years. For instance, the project “Solar Fueled Electric Maritime Mobility” by SINTEF (Stiftelsen for industriell og teknisk forskning), an independent nonprofit research institute, demonstrated the feasibility and the social, economic, and environmental benefits of electric boats in Africa. Also, the project combines SINTEF’s several research areas including solar energy, power systems, marine technology, and future transport systems. The SINTEF initiated to develop technology for a traditional ferry with a plug-in hybrid electric powertrain and further constructed an electric charging point. Thus, the growing number of developments and initiatives toward electric boats are anticipated to boost the Middle East & Africa electric boat market growth during the forecast period.
Middle East & Africa Electric Boat Market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa Electric Boat Market Segmentation
The Middle East & Africa electric boat market is segmented into boat type, battery type, application, and country. Based on boat type, the market is segmented into pure electric and hybrid segment. The pure electric segment registered a larger market share in 2022.
- Based on type, the Middle East & Africa electric boat market is segmented into nickel based, lead acid, and lithium-ion. The lithium-ion segment registered the largest market share in 2022.
- Based on application, the Middle East & Africa electric boat market is segmented into fishing, recreational, and others. The recreational segment registered the largest market share in 2022.
- Based on country, the Middle East & Africa market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the market share in 2022.
Duffy Electric Boat Company, Frauscher Bootswerft GmbH & Co KG, Quadrofoil D.O.O, and Vision Marine Technologies Inc. are the leading companies operating in the Middle East & Africa electric boat market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East & Africa Electric Boat Market Landscape
4.1 Market Overview
4.2 Middle East & Africa PEST Analysis
4.2.1 Middle East & Africa
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Middle East & Africa Electric Boat Market- Key Market Dynamics
5.1 Market Drivers
5.1.1 Stringent Government Regulations for Controlling Greenhouse Gas Emissions
5.1.2 Increasing Network for Charging Points in Marine Infrastructure for Small Boats
5.2 Market Restraints
5.2.1 High Cost of Batteries and Range Limitations
5.3 Market Opportunities
5.3.1 Increasing Installation of Superchargers at Smaller Ports
5.4 Future Trends
5.4.1 Rising Inclination Toward Solar-Electric Boats
5.5 Impact Analysis of Drivers and Restraints
6. Electric Boat Market– Middle East & Africa Market Analysis
6.1 Middle East & Africa Electric Boat Market Overview
6.2 Middle East & Africa Electric Boat Market Forecast and Analysis
7. Middle East & Africa Electric Boat Market Revenue and Forecast to 2028 – Boat Type
7.1 Overview
7.2 Middle East & Africa Electric Boat Market, By Boat Type (2021 And 2028)
7.3 Pure Electric
7.3.1 Overview
7.3.2 Pure Electric: Electric Boat Market Revenue and Forecast To 2028 (US$ Million)
7.4 Hybrid
7.4.1 Overview
7.4.2 Hybrid: Electric Boat Market Revenue and Forecast To 2028 (US$ Million)
8. Middle East & Africa Electric Boat Market Revenue and Forecast to 2028 – Battery Type
8.1 Overview
8.2 Middle East & Africa Electric Boat Market, By Battery Type (2021 And 2028)
8.3 Nickel Based
8.3.1 Overview
8.3.2 Nickel Based: Electric Boat Market Revenue and Forecast To 2028 (US$ Million)
8.4 Lead Acid
8.4.1 Overview
8.4.2 Lead Acid: Electric Boat Market Revenue and Forecast To 2028 (US$ Million)
8.5 Lithium-ion
8.5.1 Overview
8.5.2 Lithium-ion: Electric Boat Market Revenue and Forecast To 2028 (US$ Million)
9. Middle East & Africa Electric Boat Market – By Application
9.1 Overview
9.2 Middle East & Africa Electric Boat Market, by Application (2021 and 2028)
9.3 Fishing
9.3.1 Overview
9.3.2 Fishing: Electric Boat Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Recreational
9.4.1 Overview
9.4.2 Recreational: Electric Boat Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Others
9.5.1 Overview
9.5.2 Others: Electric Boat Market – Revenue and Forecast to 2028 (US$ Million)
10. Middle East & Africa Electric Boat Market– Country Analysis
10.1 Overview
10.1.1 Middle East and Africa: Electric Boat Market, by Key Country
10.1.1.1 South Africa: Electric Boat Market– Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 South Africa: Electric Boat Market, By Boat Type
10.1.1.1.2 South Africa: Electric Boat Market, By Battery Type
10.1.1.1.3 South Africa: Electric Boat Market, By Application
10.1.1.2 Saudi Arabia: Electric Boat Market– Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Saudi Arabia: Electric Boat Market, By Boat Type
10.1.1.2.2 Saudi Arabia: Electric Boat Market, By Battery Type
10.1.1.2.3 Saudi Arabia: Electric Boat Market, By Application
10.1.1.3 UAE: Electric Boat Market– Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 UAE: Electric Boat Market, By Boat Type
10.1.1.3.2 UAE: Electric Boat Market, By Battery Type
10.1.1.3.3 UAE: Electric Boat Market, By Application
10.1.1.4 Rest of Middle East & Africa: Electric Boat Market– Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 Rest of Middle East & Africa: Electric Boat Market, By Boat Type
10.1.1.4.2 Rest of Middle East & Africa: Electric Boat Market, By Battery Type
10.1.1.4.3 Rest of Middle East & Africa: Electric Boat Market, By Application
11. Industry Landscape
11.1 Overview
11.2 New Product Development
12. Company Profiles
12.1 Frauscher Bootswerft GmbH & Co KG
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Duffy Electric Boat Company
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Vision Marine Technologies Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Quadrofoil D.O.O
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Middle East & Africa Electric Boat Market, Revenue and Forecast, 2019–2028 (US$ Million)
Table 2. Middle East & Africa: Electric Boat Market, By Key Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. South Africa: Electric Boat Market, By Boat Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. South Africa: Electric Boat Market, By Battery Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. South Africa: Electric Boat Market, By Application– Revenue and Forecast to 2028 (US$ Million)
Table 6. Saudi Arabia: Electric Boat Market, By Boat Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. Saudi Arabia: Electric Boat Market, By Battery Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Saudi Arabia: Electric Boat Market, By Application– Revenue and Forecast to 2028 (US$ Million)
Table 9. UAE: Electric Boat Market, By Boat Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. UAE: Electric Boat Market, By Battery Type – Revenue and Forecast to 2028 (US$ Million)
Table 11. UAE: Electric Boat Market, By Application– Revenue and Forecast to 2028 (US$ Million)
Table 12. Rest of Middle East & Africa: Electric Boat Market, By Boat Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of Middle East & Africa: Electric Boat Market, By Battery Type – Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of Middle East & Africa: Electric Boat Market, By Application– Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. Middle East & Africa Electric Boat Market Segmentation
Figure 2. Middle East & Africa Electric Boat Market Segmentation – by Country
Figure 3. Middle East & Africa Electric Boat Market Overview
Figure 4. Middle East & Africa Electric Boat Market, By Boat Type
Figure 5. Middle East & Africa Electric Boat Market, By Country
Figure 6. Middle East & Africa: PEST Analysis
Figure 7. Electric Boat Market Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. Middle East & Africa Electric Boat Market: Impact Analysis of Drivers and Restraints
Figure 10. Middle East & Africa Electric Boat Market, Forecast and Analysis (US$ Million)
Figure 11. Middle East & Africa Electric Boat Market, By Boat Type (2021 and 2028)
Figure 12. Pure Electric: Middle East & Africa Electric Boat Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. Hybrid: Middle East & Africa Electric Boat Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. Middle East & Africa Electric Boat Market, By Battery Type (2021 and 2028)
Figure 15. Nickel Based: Middle East & Africa Electric Boat Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. Lead Acid: Middle East & Africa Electric Boat Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Lithium-ion: Middle East & Africa Electric Boat Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Middle East & Africa Electric Boat Market Revenue Share, by Application (2021 and 2028)
Figure 19. Fishing: Middle East & Africa Electric Boat Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Recreational: Middle East & Africa Electric Boat Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Others: Middle East & Africa Electric Boat Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Middle East & Africa: Electric Boat Market, by Key Country – Revenue (2021) (US$ Million)
Figure 23. Middle East and Africa: Electric Boat Market Revenue Share, By Key Country (2021 and 2028)
Figure 24. South Africa: Electric Boat Market– Revenue and Forecast to 2028 (US$ Million)
Figure 25. Saudi Arabia: Electric Boat Market– Revenue and Forecast to 2028 (US$ Million)
Figure 26. UAE: Electric Boat Market– Revenue and Forecast to 2028 (US$ Million)
Figure 27. Rest of Middle East & Africa: Electric Boat Market– Revenue and Forecast to 2028 (US$ Million)
- Duffy Electric Boat Company
- Frauscher Bootswerft GmbH & Co KG
- Quadrofoil D.O.O
- Vision Marine Technologies Inc.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Middle East & Africa electric boat market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Middle East & Africa electric boat market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the electric boat market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution