As cited by the research report titled ‘North America Electric Outboard Engines Market Forecast 2027 By Power, By Control, By Application, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, North America electric outboard engines market is estimated to generate revenues worth USD 60 million over 2021-2027.
 

Increasing recreational boating activities coupled with expanding marine tourism are majorly driving North America electric outboard engines market growth. Increasing investments by major players in research & development to provide advanced technologies in marine and shipping systems is further augmenting the market scope.
 

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Moreover, introduction of pollution-free, low-noise, and high-performance engines for boats has been favoring the overall industry outlook. With stringent regulations meant for reducing marine fuel emissions, many fishing companies and recreational sports services are likely to invest in development of new engines and equipment for their vessels, which in turn will contribute significantly for the market development.
 

On the basis of control, the marketplace is categorized into remote and tiller. Based on power, North America electric outboard engines industry is segmented into below 50 kW, 25-50 kW, and 50-150 kW. The report cites that the 25-50 kW segment is likely to account for 15% market share over the estimated timespan.
 

Considering the application range, the business space is bifurcated into commercial, recreational, and military. Among these, the recreational application segment is expected to be remunerated at 70% market share by 2027, owing to rising number of boating and racing events as well as increasing trade exhibitions.
 

Meanwhile, the commercial engine segment is witnessing significant growth, on account of its better safety requirements, excellent performance, and ease of operation.
 

On the geographical front, both United States and Canada markets are expected to amass considerable returns over the estimated timeline, primarily driven by increasing investments for manufacturing of boats and navy vessels. Moreover, rising popularity of water sports and outdoor recreational activities is positively swaying the industry dynamics in the region. 
 

Leading players profiled in North America electric outboard engines industry are Pure Watercraft, Stealth Electric Outboards, Bellmarine, Combi Outboards B.V., Minn Kota, Elco Motor Yachts, ePropulsion, and Torqeedo GmbH.