Europe Outboard Electric Motors market will reach 67.98 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/10/12

Compared with gas outboard motor market, outboard electric motor market is much smaller and under development. There are two types of outboard electric motor available in the market, which includes outboard electric propulsion motor and outboard electric trolling motor. Currently outboard electric trolling motor accounts for the main market share based on volume; this type of motor is small and cheap. Gas outboard motor can provide higher power and are suitable for heavy duty application. Electric outboard motor are environmentally friendly and much more silent at operating, thus they are more suitable to be used in some applications and are becoming more and more popular worldwide.

Worldwide, there are about thirty manufacturers of outboard electric motor currently; and there are more than forty brands of outboard electric motor available in market. Some of these manufacturers are specialized in the production of outboard electric propulsion motor, and some of them are specialized in the production of outboard electric trolling motor. Some manufacturers have raw materials or cost advantages, and some of them have technology or marketing advantages.

Minn Kota, Torqeedo, AquaWatt, CSM Tech are leading players in Europe, which accounting for about 60 % market share in terms of value in 2018.

This report splits the Europe market into eight regions, Germany, France, UK, Russia, and Italy, Benelux (Belgium, Netherlands and Luxembourg), Spain and the rest countries in Europe.

Among them, United Kingdom and Germany play important role.

In the next five years, the Europe comsumption of outboard electric motor will maintain a 6%-9% annual growth rate, and industry revenue is expected to reach 45.27 million USD in 2019 and 67.98 million in 2025.

As the market of outboard electric motor is growing rapidly and there is considerable market potential, it is forecasted that more and more enterprises will enter the market with different advantages and disadvantages. And the market is believed to be fiercer.

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https://www.qyresearch.com/index/detail/865969/global-united-states-european-union-and-china-outboard-electric-motors-market
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