In-depth Study of Electric and Hybrid Propulsion in the Hybrid Boats Market (2023-2028)

1. In In- -depth Study of Electric and Hybrid depth Study of Electric and Hybrid Propulsion in the Hybrid Boats Market (2023 Propulsion in the Hybrid Boats Market (2023- - 2028) 2028) The report "Hybrid Boats Market by Hull Design (Hydrofoil, Multihull, Rigid Inflatable), Propulsion (Electric, Hybrid), Platform (Recreational Boats, Commercial Boats, Military and Law Enforcement Boats), Material, Boat Size and Region - Global Forecast to 2028" The Hybrid Boats Market is estimated to be USD 1.7 billion in 2023 to USD 2.7 billion by 2028, at a CAGR of 10.4% from 2023 to 2028. The hybrid boats market is on a trajectory for substantial growth, fueled by Increasing demand for sustainable marine vessels and technologically advanced vessels along with increasing demand for maritime transportation, are driving the growth of the hybrid boats market. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=8851252 The growing trend towards hybridization models is shaping the future of the hybrid boats market. Hybrid vehicles are gaining popularity across all industries, this trend is extended in marine sector. Personalized hybrid boat customization options are becoming more prevalent, allowing boaters to build their vessels to their specific needs and preferences. These trends are further diversifying the hybrid boats market. Based on hull design, the rigid inflatable segment is estimated to have the second highest CAGR during the forecast period. The rigid inflatable segment is projected to grow at the second highest CAGR in the hybrid boats market during the forecasted period. Rigid inflatable boats (RIBs) are a type of boat that combines the hull of a traditional rigid boat with inflatable tubes or collars around the edges. This design provides increased stability, buoyancy, and shock absorption, making RIBs highly versatile and suitable for various applications. Hybrid RIBs incorporate electric or hybrid propulsion systems, offering a combination of fuel efficiency, performance, and environmental benefits. Hybrid RIBs offer significant fuel savings compared to conventional gasoline-powered RIBs, reducing fuel consumption and associated emissions. This aligns with the growing demand for sustainable boating solutions and environmental consciousness among boaters. Advancements in hybrid propulsion technology have led to improvements in battery capacity, range, and overall performance. This makes hybrid RIBs a viable

2. choice for longer excursions and activities that demand more power. RIBs are known for their versatility, excelling in various marine environments, including coastal waters, lakes, and rivers. Based on boat size, the > 50 Feet segment is estimated to have the highest CAGR in the forecasted period. The > 50 Feet boats significantly consume more fuel and emit more pollutants compared to smaller boats. The adoption of hybrid propulsion systems in this segment has a more substantial impact on reducing the overall environmental footprint of boating. Larger boats often undertake longer voyages and require extended ranges. Advancements in battery technology and hybrid propulsion systems have improved the range and autonomy of hybrid boats, making them a viable option for larger vessels. Luxury yacht owners prioritize quiet operation, fuel efficiency, and environmental consciousness. Hybrid propulsion systems align with these preferences, offering a balance of luxury and sustainability. These are the reasons which contribute to the > 50 Feet boats having the second highest CAGR for boat size segment of hybrid boats market. Based on material, the aluminium segment is estimated to have the highest CAGR in the forecasted period. Aluminium is a lightweight, strong, and corrosion-resistant material that is increasingly being used in the construction of hybrid boats. Its unique properties make it an ideal choice for this application, and it is expected to experience the highest CAGR among all boat hull materials in the hybrid boats market. Aluminium is significantly lighter than traditional boat hull materials like fiberglass or steel. This weight reduction translates into improved fuel efficiency and extended range for hybrid boats, a crucial factor in their adoption. Aluminium's exceptional corrosion resistance is particularly valuable in marine environments, where hybrid hulls are constantly exposed to saltwater. This corrosion resistance extends the lifespan of boats and reduces maintenance costs. Aluminium offers high strength-to-weight ratio, making it a strong and durable material for boat hulls. It can withstand the stresses of various marine conditions, ensuring the structural integrity of hybrid boats. Hence, owing to these reasons we could see the aluminium segment hold the highest CAGR during the forecasted period. Based on region, the Europe region is estimated to have the highest CAGR during the forecast period. The Europe region is projected to grow at the highest CAGR during the forecast period. Various technological advancements, increased demand for maritime transportation, and government support have propelled the expansion of the hybrid boats market in this region. Europe region has one of the world's largest and fastest- growing maritime industries. This is driving demand for hybrid boats for use in a variety of applications, such as recreational boats, commercial boats and Military and law enforcement boats. Europe region is among major maritime trade routes, but it is also a region with rising environmental concerns. This is driving demand for hybrid boats for use in maritime recreational and commercial applications. This growth is expected to bring about a transformative shift in marine industry, revolutionizing the future of the hybrid boats market. Key Market Players:

3. Major players operating in the hybrid boats market are Brunswick Corporation (US), Groupe Beneteau (France), Greenline Yachts (Slovenia), Candela Technology AB (Sweden), and Silent Yachts (Austria) among others. These companies have well- equipped manufacturing facilities and strong distribution networks across North America, Europe, Asia Pacific, and Rest of the World. Ask for Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=8851252 About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one ofAmerica’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visitwww.MarketsandMarkets™.comor onTwitter,LinkedInandFacebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email:sales@marketsandmarkets.com follow us