Portland, OR, Sept. 30, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global solar boat market generated $0.65 billion in 2021, and is estimated to reach $2.4 billion by 2031, witnessing a CAGR of 14.2% from 2022 to 2031. The report provides an in-depth analysis of top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
Download Free Report Sample at https://www.alliedmarketresearch.com/request-sample/10545
Solar Boat Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $0.65 billion |
| Market Size in 2031 | $2.4 billion |
| CAGR | 14.2% |
| No. of Pages in Report | 210 |
| Segments covered | Battery Type, Solar Panel Type, Application, and Region |
| Drivers | Introduction of strict emission regulations |
| Growth of the marine tourism industry | |
| Opportunities | Government support to promote adoption of electric and solar boat |
| Restrains | Less operational efficiency |
| High purchase and maintenance cost of solar boat |
Covid-19 Scenario:
- The Covid-19 pandemic led to delayed development and postponement of launches of new electric and solar boats & propulsion systems. Moreover, slowdown in the operation of major market players and shortage of component negatively affected the market.
- The shipping industry was majorly affected due to disrupted supply chain, shortage of components, and regulations associated with the import and export of goods.
- The travel regulations imposed by governments of several countries to curb the spread of the virus created challenges for engineers while performing routine maintenance.
- The closure of manufacturing facilities and trade restrictions affected the expansion of the market.
The report offers detailed segmentation of the global solar boat market based on battery type, solar panel type, application, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps investors, market players, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on battery type, the lithium-ion segment accounted for the highest share in 2021, contributing to more than three-fourths of the total share, and is expected to maintain its leadership status during the forecast period. In addition, the segment is expected to manifest the highest CAGR of 14.6% from 2022 to 2031.
Based on solar panel type, the monocrystalline segment held the largest share in 2021, accounting for nearly three-fifths of the market, and is expected to maintain its dominance in terms of revenue by 2031. However, the polycrystalline segment is estimated to witness the largest CAGR of 15.4% during the forecast period.
On the basis of application, the passenger boats segment dominated the market in 2021, accounting for more than two-thirds of the global solar boat market, and is projected to maintain its leading position throughout the forecast period. However, the cargo boats segment is estimated to showcase the highest CAGR of 16.1% during the forecast period.
Based on region, Europe accounted for the highest share in 2021, contributing to nearly half of the global solar boat market, and is projected to continue its leadership status by 2031. However, the market across North America is projected to portray the fastest CAGR of 15.3% during the forecast period. The research also analyzes regions including Asia-Pacific and LAMEA.
Interested to Procure the Data with Actionable Strategy & Insights? Inquire Before Buying - https://www.alliedmarketresearch.com/purchase-enquiry/10545
Leading players of the global solar boat market analyzed in the research include RAND Boats ApS, ABB LTD, Aquawatt Green Marine Technologies, Boesch Motorboote AG, Corvus Energy, Duffy Electric Boat Company, ElectraCraft, Greenline Yachts, Grove Boats SA, NavAlt boats, Quadrofoil d.o.o., Soel Yachts B.V., Torqeedo GmbH, Vision Marine Technologies Inc.
The report analyzes these key players in the global solar boat market. These players have adopted various strategies such as new product launches, expansion, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.
Similar Reports We Have on Solar Industry:
Solar Vehicle Market Is Set to Reach $4,087.5 Million, at 43.3% CAGR by 2026
Solar E-Bike Market Expected to Reach $6.01 Billion, at 13.7% CAGR by 2040
Solar Golf Cart Market by Application (Passenger Mover Golf Cart, Turf Maintenance/Utility Golf Cart, and Food and Beverage Golf Cart), By Seating Capacity (Small (2-4 Seater), Medium (6-8 Seater), and Large (Above 8 Seater)), By Use Case (Golf Operations, Personal, and Utility), By End-Use Vertical (Golf/Sports, Education, Government, Industries, Resort, Hotels and Malls, and Airports): Global Opportunity Analysis and Industry Forecast, 2021–2031
Solar Bus Market by Product Type (Electric, Hybrid and Solar), Drive Mechanism (Hub Motor, Mid Drive, and Others), Battery Type (Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NiMh), and Others): Global Opportunity Analysis and Industry Forecast, 2021–2031
Solar Train Market by Propulsion Type (Electro Diesel, Battery Operated, Hydrogen, CNG, LNG, and Solar), Application (Passenger and Freight), Operating Speed (>100 km/h, 100-200 km/h, <200 km/h), Battery Technology (Gel Tubular, Valve Regulated Lead-Acid (VRLA), Conventional Lead-Acid, Sinter PNE, Fiber PNE, Pocket Plate and Lithium-Ion): Global Opportunity Analysis and Industry Forecast, 2021–2031
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/automotive-and-transportation
Follow Our Blog: www.theinnovativereport.com
