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3. Hybrid Boats Companies - Brunswick Corporation (US) and Groupe Beneteau (France) are the Key Players

The market for hybrid boats is projected to be USD 1.7 billion in 2023 and is estimated to reach USD 2.7 billion by 2028, at a CAGR of 10.4% during the forecast period. The growth of the hybrid boat market is due to an increase in the need for sustainable transportation, technological advancements in hybrid boats, and an increasing focus on safety and comfortable fleets.

Major Hybrid Boats Companies Include:

• Brunswick Corporation (US)
• Groupe Beneteau (France)
• Greenline Yachts (Slovenia)
• Candela Technology AB (Sweden)
• Silent Yachts (Austria)

These players have been focusing on securing government contracts for their organic growth. Their core competencies include high investments in R&D activities. Collaborations, product launches, contracts, and partnerships were the key growth strategies the leading market players adopted from 2020 to 2023. Of these, the players most widely adopted product launches and contract strategies to remain competitive in the market.

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Brunswick Corporation

Brunswick Corporation, a pioneer in marine recreation, utilizes cutting-edge technology and consumer insights to revolutionize both on-water and off-water experiences. The company boasts a portfolio of renowned boat brands, encompassing Mercury Marine, Sea Ray, Boston Whaler, and Bayliner. Committed to fostering sustainable boating practices, Brunswick Corporation actively explores and invests in electric and hybrid propulsion systems, catering to the growing demand for eco-friendly and energy-efficient boating options. Spearheading the development and promotion of hybrid electric propulsion technology, Brunswick Corporation's marine propulsion division, Mercury Marine, has emerged as a frontrunner in introducing electric and hybrid propulsion systems for boats, offering quiet, emission-free, and energy-efficient alternatives to conventional combustion engines. Recognizing the potential of electric propulsion, Brunswick Corporation is continuously investing in R&D to enhance battery technologies and charging infrastructure for electric boats. These advancements aim to extend the range, performance, and overall feasibility of hybrid-electric powered vessels, making them more appealing and accessible to a wider range of boaters. Furthermore, Brunswick Corporation proactively engages in partnerships and collaborations with other companies and organizations to promote sustainable boating practices. These efforts encompass participation in industry initiatives, support for clean energy technology research, and advocacy for sustainable boating practices within the marine community.

Groupe Beneteau

Groupe Beneteau, a global leader in the marine industry, has established itself as a symbol of innovation, craftsmanship, and excellence for over 130 years. The company's extensive portfolio of sailboats, motorboats, and luxury yachts caters to a wide range of boating enthusiasts. With a focus on sustainability, Groupe Beneteau is pioneering hybrid electric propulsion systems and eco-friendly manufacturing practices. The company's global network of dealers and representatives ensures widespread product availability and unparalleled customer service. Groupe Beneteau's commitment to R&D has resulted in numerous awards and accolades within the marine industry.

Greenline Yachts

Greenline Yachts is a renowned and innovative company pioneering eco-friendly yachting. Its stylish and luxurious yachts seamlessly blend advanced design with sustainable solutions, featuring hybrid and electric propulsion systems for silent and emission-free navigation. Dedicated to reducing its carbon footprint, Greenline Yachts actively engages in eco-friendly initiatives and partnerships to promote marine conservation. As a leader in eco-conscious boating, the company inspires a broader adoption of sustainable practices, setting new standards for a greener future in luxury yachting.

Silent Yachts

Silent Yachts stands out as a pioneer in the electric and solar-powered yacht industry, revolutionizing luxury yachting with a focus on sustainability and environmental consciousness. Their range of solar-electric and hybrid propulsion catamarans offers a serene on-water experience, combining innovative technology with unparalleled comfort and customization. Driven by a dedication to quality, innovation, and environmental responsibility, Silent Yachts has garnered international recognition and actively promotes sustainable yachting practices, inspiring the future of yachting.

Candela Technology AB

Candela Technology AB stands as a trailblazer in the electric hydrofoil boat industry, transforming boating with sustainability at its core. Their cutting-edge technology and design push the boundaries of electric boating, setting new standards for performance, efficiency, and eco-responsibility. Candela's flagship product, the Candela Seven, embodies its commitment to creating emission-free and energy-efficient vessels, addressing the environmental challenges faced by the marine sector. Their dedication to renewable energy sources and advanced battery technology extends the range of their electric boats, further solidifying their position as a leader in sustainable boating.

Related Reports:

Hybrid Boats Market by Hull Design (Hydrofoil, Multihull, Rigid Inflatable), Propulsion (Electric, Hybrid), Platform (Recreational Boats, Commercial Boats, Military and Law Enforcement Boats), Material, Boat Size and Region - Global Forecast to 2028

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
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