According to a research report titled ‘Europe Electric Outboard Engines Market Size By Applications, By Power, By Control, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027’, available with Market Study Report, Europe electric outboard engines market is projected to expand at a robust rate over the forecast period 2021-2027.
 

As per the report findings, augmented production and sale of yachts, coupled with mounting demand for recreational boating activities are the key factors propelling Europe electric outboard engines industry growth.
 

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For the record, the Travel and Tourism Competitive Index recently listed Europe as the world's second most prominent tourist destination. This determinant is expected to drive industry expansion in the upcoming years.
 

Rising disposable income levels and increasing number of high-net worth individuals are further contributing to the investments in the region's outdoor recreational activities. In addition, growing awareness about negative consequences of burning fossil fuels, and shifting consumer preference towards renewable-energy-powered devices is adding substantial traction to industry growth.
 

On the basis of power consumption, Europe electric outboard engines market is classified into below 25 kW, 25 to 50 kW, and 50 to 150 kW segments. Among these, below 25kW electric engine segment occupied a substantial market share in the recent past owing to escalating product use in fishing and recreational boats for short distance travels.
 

However, in recent years, the demand in high power segments has been growing substantially due to the rising number of people engaging in water sport events, in turn, is prompting prominent companies to favor investments in high power electric motors.
 

Moving on to control system type, the industry is arrayed into tiller, and remote. The tiller control system segment captured over 60% of the overall industry share in 2020. Factors such as operational flexibility, cost-efficiency, and simple design are strengthening the product demand.
 

Considering the application spectrum, the business vertical is classed into commercial, military, and recreational. Of these, the recreational boating segment accounted for over 70% of the market share in 2020, stimulated by the rise in number of competitive boating events and trade shows. Moreover, accelerated demand in marine tourism coupled with favorable government norms are also adding traction to segmental growth.
 

Prominent players in Europe electric outboard engines market sphere are Kräutler Elektromaschinen GmbH, Huracan S.r.l., Mobile Scandinavia AB, Podkriznik d.o.o. (E'dyn), Bellmarine - Transfluid North Europe B.V., Aquamot GmbH, Suzhou Parsun Power Machine Co. Ltd., Evinrude (E-TEC), Aquawatt Green Marine Technologies, Evoy A/S, Combi Outboards, ePropulsion, and Torqeedo GmbH.