Electric Boat Companies

The electric boats market is projected to grow from USD 4.39 billion in 2026 to USD 10.60 billion by 2031 at a CAGR of 19.2%. Growth in the electric boats market is supported by the increasing use of electric propulsion across recreational, commercial, and patrol boats, driven by a growing focus on reducing fuel use and operating noise. Adoption is also increasing due to improvements in battery systems, hybrid power systems, and the need for smaller crewed and uncrewed vessels for ferry, fishing, and security operations.

Some major market players include Brunswick Corporation (US), Groupe Beneteau (France), AZIMUT | BENETTI GROUP (Italy), Candela Technology AB (Sweden), and Arc Boat Company (US). These players have employed various organic and inorganic growth strategies, including collaborations, acquisitions, product launches, partnerships, agreements, and expansions, to enhance their international footprint and capture a significant share of the electric boats market. These organic and inorganic strategies have enabled market players to expand their reach across geographies. In May 2023, Brunswick Corporation partnered with Jing Jin Electric to co-develop high-voltage electric propulsion systems, including motor and inverter integration, indicating a collaboration focused on strengthening core propulsion technology..

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In September 2021, Groupe Beneteau partnered with Seanapps to implement a connected boat solution across its fleet, reflecting a collaboration focused on digital integration and data connectivity.

These examples show that companies are using partnerships and agreements across propulsion and digital systems to build capabilities, support product development and expand market presence.

Brunswick Corporation is a US-based company that designs, manufactures, and sells products for the marine recreation industry. Headquartered in Mettawa, Illinois, it operates in 26 countries with around 14,000 employees as of December 2025. The company’s business includes marine engines, boats, parts and accessories, and related services such as boat clubs, financing, and insurance. Its key brands include Mercury Marine, boat manufacturers Boston Whaler and Sea Ray, and the Navico Group, which offers marine electronics brands such as Lowrance, Simrad, and B&G. Brunswick sells its products in more than 170 markets worldwide. It focuses on product development, manufacturing, and distribution across recreational and some commercial marine segments while also using its technology in selected non-marine applications.

Groupe Beneteau is a shipbuilding company headquartered in France, with approximately 6,500 employees as of 2025 and operations across 16 production sites in Europe and the United States. The company designs and manufactures recreational boats through a portfolio of brands, including BENETEAU, JEANNEAU, LAGOON, PRESTIGE, DELPHIA, EXCESS, FOUR WINNS, WELLCRAFT, and SCARAB, covering sailing yachts, motorboats, monohulls, and catamarans. It offers over 150 boat models and generates most of its revenue from Europe and North America through a network of more than 1,200 dealers. In addition to boat manufacturing, the company operates a Boating Solutions division that provides services such as boat clubs, charters, marina management, digital platforms, and financing.

AZIMUT | BENETTI GROUP is a privately owned company operating in the global yachting industry, focused on the design, construction and servicing of motor yachts and megayachts. Formed through the combination of Azimut (1969) and Benetti (1873, acquired in 1985), the group operates production facilities, service centers and a distribution network across multiple regions. Its core brands include Azimut Yachts and Benetti, as well as Lusben and Yachtique. The company is integrating mild-hybrid and hybrid-diesel propulsion systems using carbon-fiber hulls and battery-based energy management to improve efficiency, with gradual adoption of hybrid-electric platforms across larger yacht models. It serves private yacht owners through its global network.

Candela Technology AB is a Sweden-based company that designs and manufactures electric boats and ferries using hydrofoil technology. Founded in 2014 and headquartered in Stockholm, the company operates in the maritime transportation sector. Its products include passenger ferries, such as the P-12 series, and leisure boats, such as the C-8 and C-7. Candela develops vessels that use electric propulsion, battery systems, and control software to improve energy use and reduce fuel dependence. The company supplies its ferries to cities and transport operators for public water transport services. It focuses on vessel design, engineering, and production, and works with partners to deploy boats across different markets. Candela operates internationally in the commercial and recreational marine sectors.

Arc Boat Company is a US-based company that designs and manufactures electrically powered recreational boats. The company develops its own propulsion systems and battery configurations, using lithium-ion battery packs with electric motors. Its manufacturing process includes aluminum hull construction to support high-power electric operation and corrosion resistance. The boats incorporate integrated systems for propulsion control, power distribution and thermal management. Its initial model, Arc One, features a large battery system and high-power output, designed for higher speeds and extended range compared to smaller electric boats. The company also produces additional models based on a similar platform. Operations include in-house engineering, testing and assembly with ongoing work focused on battery integration, system reliability and expansion into recreational and select commercial boat applications.

Market Ranking

The electric boats market includes established boat manufacturers and newer companies focused on electric propulsion and solar-powered designs. Brunswick Corporation, Groupe Beneteau, AZIMUT | BENETTI GROUP, Candela Technology AB, and Arc Boat Company hold key positions with a mix of recreational and commercial boat offerings. These companies compete based on product range, technology integration, production capacity, and ability to meet demand across different boat sizes and use cases.

Related Reports:

Electric Boats Market by Boat Type (Cruising, Speedboat, Fishing, Passenger, Workboat, Patrol, and Combat), Power Source (Battery, Solar, and Hybrid), Boat Power (<5, 5–30, and >30 kW), Hull Type, Mode of Operation, Boat Size, and Region - Global Forecast to 2031

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