Technavio has announced the top five leading vendors in their recent global marine electric vehicles market 2016-2020 report. This research report also lists four other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the report, the market is highly fragmented, and the competition is intense among the limited number of large and small players in the market. Although most vendors operate across product lines offering products to multiple industries, certain vendors have entered more niche segments, providing a limited number of goods to the marine industry.
However, as international players increase their footprint in the market with their massive infrastructure and R&D support, regional vendors will find it increasingly difficult to compete in terms of reliability and price. The competitive environment in the market is likely to intensify further due to an increase in product extensions, technological innovations, and M&A.
"Companies with better technical and financial resources develop innovative products that render the rival products obsolete and non-competitive. Therefore, vendors should stay abreast of emerging technologies that could affect the continuing competitiveness of their product lines in the market," says Arushi Thakur, an industry expert at Technavio for defense research.
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Key vendors:
Boesch Motorboote
Boesch Motorboote was founded in 1920 and is headquartered in Zürich, Switzerland. It manufactures and markets mahogany runabouts. Over the years, the company has expanded its network of dealers for providing boats and associated services to its customers in Switzerland, Spain, Austria, Greece, the Netherlands, Germany, the US, and Australia.
In the global marine electric vehicles market, the company provides electric engine boats along with conventional diesel-powered marine vehicles. Besides mahogany runabouts, it also manufactures boats using native woods such as spruce, fir, and maple.
Duffy Electric Boat
Duffy Electric Boat was founded in 1970 and is headquartered in Adelanto, California, US. It manufactures and markets small electric boats primarily for commercial applications. The company manufactures and sells electric-powered boats through its own and third-party distributors in different countries across the globe including the US, Qatar, Mexico, Singapore, Denmark, Australia, and the UAE. It also supplies custom-crafted electric boats and also provides associated parts and services to its customers.
Ruban Bleu
Ruban Bleu was founded in 1992 and is headquartered in Vigneux-de-Bretagne, France. It manufactures and markets marine crafts primarily in Europe. It offers a comprehensive array of marine crafts with capabilities ranging from 5-50 passengers.
Ruban Bleu sells its marine electric vehicles under different brand names such as ACE, SCOOP, SENSAS, MOST, and NAVETTE. The company sells its customized models to commercial boat operators. It also provides spare parts, maintenance, insurance, and after-sales services to its customers.
Torqeedo
Torqeedo was founded in 2005 and is headquartered in Bavaria, Germany. It manufactures and markets electric boat drives globally. Torqeedo manufactures and sells water-based electromobility solutions in over 40 countries. It operates its own sales network in Austria, Denmark, France, Germany, Great Britain, Ireland, Spain, Portugal, Slovenia, Canada, and the US. The company also offers associated accessories such as charging equipment, spare batteries, propellers, fins, steering, and cables.
Triton Submarines
Triton Submarines was founded in 2007 and is headquartered in Vero Beach, Florida, US. It manufactures and sells manned submersibles that are designed primarily for yachts-based deployment. The company operates as a subsidiary of the US Submarines, (a US-based manned submersible manufacturer).
The company engineers and manufactures deep diving submersibles. It also provides support vessels such as high-speed catamaran, hull, deckhouse, and monohull. The company also offers maintenance services, technical supports, and customization of submersible to its customers.
Other prominent vendors:
CORVUS ENERGY
The company is the manufacturer of energy storage systems (ESS) using lithium-nickel-manganese-cobalt (NMC) technology, which is used to power marine electric vehicles.
Electrovaya
It manufactures battery systems, lithium ion super polymer batteries, and battery-related products for energy storage in marine electric vehicles.
Saft
It makes advanced batteries such as nickel and lithium batteries for its usage over marine vehicles.
Tamarack Lake Electric Boat Company
The company develops and delivers electric-powered boats equipped with solar technology.
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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