E-MOTION Market Opportunity
E MOTION MARKET OPPORTUNITY
RAPID GROWTH
In North America, 75 million people go boating each year
according to the U.S. Coast Guard.
Sales of outboard engines in the U.S. alone increased to a
13-year high, representing revenue of US$2.9 billion.
Consumer demand for high performance engines continued
to trend upward in 2019, exhibiting double digit gains.
LITHIUM-ION BATTERY PRICE OUTLOOK
Lithium-ion battery pack price (real 2018 5/kWh)
1,400
1,200
US$
Research and Markets predicts that continued growth in the electric
boat market will be due to:
Advancement in battery technologies and efficiency, which
offers greater range and higher speed;
Decreasing battery prices; the cost of industry standard $ per kw/hr.
has dropped from US$1,200 in 2010 to below US$200 in 2018, and
continues to trend lower.
Problems inherent to ICE boats, including a high pollution rate.
Comparatively high traditional fossil fuel prices.
Other noteworthy advantages offered by electric boats, such
as less vibration, noiseless and smokeless use.
Considerably less engine maintenance than boats
that use ICES.
1,000
800
600
400
2024 implied
price $94/kWh
2030 implied
price $62/kWh
200
0
2010
2015
2020
2025
2030
A Observed prices
18% learning rate
Source: Bloomberg NEFView entire presentation