#Solar #Boat #Market #Reach #Billion #Allied
Portland, OR, Sept. 30, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global solar boat market generated $0.65 billion in 2021, and is estimated to reach $2.4 billion by 2031, witnessing a CAGR of 14.2% from 2022 to 2031. The report provides an in-depth analysis of top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
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Solar Boat Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $0.65 billion |
| Market Size in 2031 | $2.4 billion |
| CAGR | 14.2% |
| No. of Pages in Report | 210 |
| Segments covered | Battery Type, Solar Panel Type, Application, and Region |
| Drivers | Introduction of strict emission regulations |
| Growth of the marine tourism industry | |
| Opportunities | Government support to promote adoption of electric and solar boat |
| Restrains | Less operational efficiency |
| High purchase and maintenance cost of solar boat |
Covid-19 Scenario:
- The Covid-19 pandemic led to delayed development and postponement of launches of new electric and solar boats & propulsion systems. Moreover, slowdown in the operation of major market players and shortage of component negatively affected the market.
- The shipping industry was majorly affected due to disrupted supply chain, shortage of components, and regulations associated with the import and export of goods.
- The travel regulations imposed by governments of several countries to curb the spread of the virus created challenges for engineers while performing routine maintenance.
- The closure of manufacturing facilities…
Read on GNW: Solar Boat Market to Reach $2.4 Billion by 2031: Allied
