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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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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• 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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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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