The Electric Outboard Engines Market is expected to rise at an annual rate of 5.10% in the forecast period of 2021 to 2028 due to the rise in recreational boating activities.
On the other hand, an increase in the prohibitive prices of modern outboard engines is expected to obstruct the market growth and is further projected to challenge the electric outboard engines market.
According to Data Bridge Market Research, the markets for electric outboard engines are accelerating because of the growing production and sales of yachts, increase in the improved economy, and growth of the government funding for infrastructure development. Additionally, the rise in the tourism sector along with the strengthening distribution network, increase in the disposable income along with surging import and export activities, and an upsurge in need for marine protection projects and water sports positively affect the electric outboard engines market.
Furthermore, increasing technological advancements and modernization in the production techniques and rise in the research and development activities, and growing demand from the emerging economies extend profitable opportunities to the market players.
Now the question is, which are the other regions that electric outboard engines market targeting? Data Bridge Market Research has estimated a large growth in North America because of the rise in the number of boats, growing of the disposable incomes, increase in the customer interests, upsurge in demand for outboard engines in all applicable segments, and multiple factors, like growing leisure and recreational activities in this region.
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Electric outboard engines market is segmented on the basis of countries into U.S., Canada, and Mexico in North America, Brazil, Argentina and rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of the Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
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Key Market Competitors Covered in the Report
Above are the key players covered in the report, to know about more and exhaustive list of electric outboard engines companies’ contact us https://www.databridgemarketresearch.com/toc/?dbmr=global-electric-outboard-engines-market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or can drop down your inquiry.
The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market timeline analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis, and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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Global Electric Outboard Engines Market – Industry Trends and Forecast to 2028