Why Electric Boats May Not Be the Future

Electric boats are increasingly gaining prominence at boat shows and in industry conversations, but the question remains: Are they truly viable?

To clarify, there seems to be an electric variant for every segment of the marine market: electric motors, jet skis, yachts, dinghies, and sailboats. While some markets might be more viable than others, and it's possible that electric options will advance further in the future, I'm not suggesting that we dismiss the technology outright.

It's important to highlight that while my expertise lies in marketing, data analysis, and writing rather than engineering details, the data clearly shows that almost all boats registered as "electric" are usually small dinghies or inflatables, typically powered by Torqeedo motors.

So these are my thoughts

Transition from Automotive to Marine

People entering the boating industry often come from various backgrounds, and recently, many come from the automotive sector. While the automotive industry is certainly professional, the way people use boats is markedly different. Although several large marine companies are adopting the electric trend, a significant number of these companies are newcomers from the automotive space, which can lead to a mismatch in understanding the unique demands of boating.

For example, in an electric car, you typically drive at the speed limit (or you should), so you're not constantly pushing the pedal to the metal. In contrast, boats often operate at full throttle, contending with the resistance of the hull, which complicates achieving long range. This challenge ultimately led to the innovation of hydrofoils, designed to reduce resistance and improve efficiency.

The Reality of Hydrofoils

Hydrofoils, often likened to "flying on a magic carpet" by those who have experienced them, certainly present a cool concept. They look futuristic and offer a unique boating experience. However, the demise of many product companies in this industry isn't just about creating or selling the product—it's about customer service and the extensive service network required to support it.

My skepticism about their widespread adoption primarily stems from safety concerns. For instance, if a hydrofoil hits an object in the water, the consequences can be severe. While collisions are generally hazardous, being elevated above the water and losing a foil at high speed is considerably different and potentially more dangerous than an impact in a traditionally designed hull boat.

Secondly, the lack of a service network and the challenges of establishing one are significant. With the service industry already in dire shape and many businesses focused on surviving, finding the resources and time to learn new systems for hydrofoils is highly challenging. Thus, I believe hydrofoils will likely remain a novelty rather than become mainstream.

Trust Issues with New Tech

Consumers are aware that battery technology hasn't fully matured yet. While electric cars have increasingly gained acceptance over time, the boating industry consumers can be described as largely conservative. The prevailing narrative outside of marine circles is that technology is evolving rapidly, making it challenging to convince someone to invest in something extremely expensive that could become obsolete within a year.

I just don't believe the technology has been proven long enough for consumers in this space to trust it fully. This skepticism hinders the widespread adoption of new, high-tech marine products like electric boats.

Simplicity vs. Complexity

Is more technology really the answer??

The trend in boat manufacturing seems to be adding every conceivable feature and gadget, making everything more complicated. However, the track record for these technologically advanced boats is not particularly strong.

Many, including myself, view the increase in technology as a potential source of more problems. Boats are becoming too complex, and it's debatable whether this complexity is what consumers truly want. It doesn't seem like there's much in the way of surveys or questionnaires being conducted to genuinely assess consumer desires in this area.

The Uncharted Waters

I know a lot of insurance professionals in the marine industry, and when it comes to insurance companies, they prefer to make sure bets. From what I've seen, people haven't quite figured out how to handle insurance for electric boats. The key question remains: is it worth it? Additionally, there isn't much of a structured approach on how to survey a used electric boat, which complicates matters further for ensuring proper valuation and risk assessment.

Promising Niches

In the foreseeable future, I can envision electric boats gaining traction in specific niches, such as pontoon boats used on lakes. Lake boaters, who typically navigate calmer waters and shorter distances, could form the core audience for this technology. These conditions are well-suited to the current capabilities of electric motors, making them a practical option for such boating experiences.

It goes without saying that electric motors on sailboats are another viable option, and potentially on jet skis too. However, when it comes to larger yachts or ocean-going vessels, I don't see them becoming feasible with current technology... yet.

Ps. My email is [email protected]