Pioneering electric propulsion with innovative pontoon integration
by Vision Marine Technologies 21 Nov 2023 17:05 GMT
Vision Marine P Powerpack © Vision Marine Technologies
Vision Marine Technologies Inc. (NASDAQ: VMAR), ("Vision Marine" or the "Company"), a global leader and innovator within the performance electric recreational boating industry, is now steering its expertise towards the flourishing pontoon market, which sees annual sales of around 60,000 units. In a strategic move, Vision Marine introduces the P Powerpack, a game-changing solution offering ease of installation for pontoon boats.
This innovative approach significantly reduces the time and effort required for installation compared to traditional internal combustion engine (ICE) setups. As Vision Marine targets this new market segment, it celebrates its first order from Wired Pontoons, a testament to the industry's growing interest in its technology. Since 2020, Vision Marine has been at the forefront of integrating its E-motion™ electric outboard into various pontoon brands, solidifying its status as a leader in the electric boating market.
The P Powerpack represents a pivotal development in Vision Marine's product lineup, emphasizing the company's focus on ease of integration and versatility. While the 180E model, part of the state-of-the-art E-Motion™ Powertrain Technology suite, continues to lead the electric propulsion market, the P Powerpack expands its applicability across a wide range of boating platforms, starting with pontoons. This strategic move underlines Vision Marine's dedication to making electric boating technology more accessible to manufacturers.
This latest innovation is poised to accelerate market adoption. Alex Mongeon, CEO of Vision Marine, stated,
"We have engineered an even simpler integration method that is both efficient and effective. We continue to innovate, bringing new advancements to the market. We are on the cusp of a new era in boating, and Vision Marine is laying the groundwork, demonstrating that our systems are not only high-performing but will also be a dominant force in the future of boating."
The recreational pontoon market in the United States is substantial and growing. In 2022, the pontoon market size exceeded USD 7.9 billion and is expected to witness an 8.3% CAGR from 2023 to 2032. Specifically, the US recreational boat market, including pontoons, was valued at $17.31 billion in 2022, with projections to reach $28.54 billion by 2028, growing at a CAGR of 8.7%. The recreational segment alone accounted for 36% of the pontoon market share in 2022. Additionally, the North America pontoon market generated USD 4.8 billion in revenue in 2022, reflecting a surging interest in water-based recreational activities. Vision Marine's Powerpack is custom-engineered to seamlessly incorporate the 180E system into pontoon boats, tapping into this significant market.
The E-Motion™ system represents a comprehensive solution for boat manufacturers. It features an integrated user interface, an efficient charger, and Vision Marine's proprietary marine-manufactured battery packs. A standout feature of the E-Motion™ system is its ability to offer scalable energy architecture, accommodating 1 to 3 battery packs providing 43 to 129 kWh. This flexibility allows for customised power solutions based on specific boating needs.
Vision Marine is committed to leading the charge in the marine electric propulsion sector, demonstrating that sustainable boating solutions can go hand-in-hand with high performance and efficiency.