Global Industrial aspects of Outboard Electric Motors Market: This report, based on the Global market and it is a complete survey, represented by a CAGR of healthy during Forecast Period 2019-2024, covering various aspects of prevailing market landscape. It accumulates comprehensive information and research methodologies. Market experts have created this study on the results obtained by applying several analytical tools such as investment feasibility and investment return analysis on the Global market for Outboard Electric Motors Sales in order to determine the attractiveness of this market.
Outboard electric motor is a kind of propulsion system for boats which uses electric as power. Outboard electric motor, commonly referred to as “trolling motor” or “electric Outboard motor”, is generally used on very small craft or on small lakes where gasoline motor is prohibited or used as a secondary means of propulsion on larger craft, and can also be used as repositioning thrusters while fishing.
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According to this study, over the next five years the Outboard Electric Motors market will register a 11.1% CAGR in terms of revenue, the global market size will reach US$ 120 million by 2024, from US$ 63 million in 2019.
The key manufacturers covered in this report:
Torqeedo, Minn Kota, MotorGuide, AquaWatt, CSM Tech, Elco Motor Yachts, Krautler Elektromaschinen, Ray Electric Outboards, Aquamot, Suzhou Parsun Power Machine, ePropulsion Technology & More.
Segmentation by product type:
Outboard Electric Propulsion Motor
Outboard Electric Trolling Motor
Segmentation by application:
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.
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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Manufacturing cost structure:
The Outboard Electric Motors Market report also studies the manufacturing cost structure and presents the various details such as raw material, overall production process, and the industry chain structure. Every region key factors are provided which is attracting this market towards growth. The report also elaborates on the opportunities the emerging markets of Asia Pacific and Latin America offer and Globally.
Important Facts About Outboard Electric Motors Market Report:
-This research report reveals Outboard Electric Motors business overview, product overview, market share, supply chain analysis, demand and supply ratio and import/export details.
-The Industry report features different approaches and procedures endorsed by the Outboard Electric Motors market key players to make vital business decisions.
-Outboard Electric Motors market depicts some parameters such as production value, Outboard Electric Motors marketing strategy analysis, Distributors/Traders and effect factors is also mentioned in this Outboard Electric Motors research report.
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