The electric outboard motors, which are mainly used for leisure activities, are in the power range from 50 to 150 kW, since these motors can transport larger ships such as luxury yachts, recreational yacht tugs and cruisers. With significant technological advances, engines with higher efficiency and lower environmental emissions are also becoming more widespread, which has a positive effect on the business space.

With the demand for motors in this power range increasing, industry players are focused on developing and delivering enhanced offerings to effectively meet consumer demand. Citing an instance in 2020 Torqeedo signed an agreement with ZF to develop an electric sail propulsion system with steerable joystick docking that will be integrated into Torqeedo’s Deep Blue propulsion system. According to the company, these 50 and 100 kW systems offer joystick docking and maneuverability, as well as efficient water generation performance.

The most popular electric outboards are those that are remotely controlled. These motors have harnesses and cables that extend to the console and control the steering system and wheel. The Remote Control segment throughout the Electric Outboard Motor market is projected to have a significant CAGR of 5.5% through 2027.

Increasing product demand for marine tourism and recreational activities appears to be the primary driver of the significant growth in electric outboard motors in the Asia-Pacific region. Growing disposable income in regional countries has increased consumer spending on recreational activities such as cruising and boating. An improved boat infrastructure in conjunction with a favorable government policy to promote coastal tourism further complements product acceptance. With these factors in mind, the Asia Pacific Electric Outboard Motor market is projected to have a robust CAGR of around 6% through 2027.

Aside from recreational activities, the electric outboard drive is used extensively for military applications. Persistent geopolitical problems have forced countries to increase their naval spending to improve their coastline security and strengthen their sea capabilities. In light of this, manufacturers are also investing in research and development activities to develop electric outboard motors specifically for military use. For example, GE’s energy conversion business signed an agreement with Damen Schelde Naval Shipbuilding in 2020 to supply an electric propulsion package specifically designed for the new Combat Support Ship used by the Royal Netherlands Navy.

About the author: Priya Deshmukh began her professional journey with a career in content writing. With an MBA in Marketing, she believes in the power of content and its importance in today’s fast paced world of online marketing. With her articles, which span countless industries such as business, technology, automotive, healthcare and more, she wants to provide the masses with meaningful insights.

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