ePropulsion, the maker of marine electric propulsion systems, is forecasting major growth this year following record sales last year.
The New Jersey company increased sales revenue by 200% year-on-year in 2021 and anticipates a further 100% growth in the coming year. The leisure marine sector, which includes recreational fishing, is accounting for the majority of sales.
The increased demand is good news for the environment as more boat owners turn to sustainable boating by switching to electric propulsions systems.
Europe and North America are the two fastest-growing markets for ePropulsion products, with the UK, US and Germany the leading countries. The company has expanded its distributor network into Australia, South Korea, Singapore, Thailand and Serbia in recent months. It is also exploring further technology to make its systems more environmentally friendly.
“We continue to invest in innovation, R&D and product and personnel development to play our part in contributing to the global mission to reach zero carbon emissions,” said CEO, Danny Tao.
“Demand for electric propulsion is spurred by conscientious boaters who want a more sustainable way of boating. To support this demand, industry-wide developments will be required, such as widespread electric charging networks.
“If we are to make the switch to greener, more sustainable boating a reality, the number of marinas with charging infrastructure needs to increase significantly, with more charging points at each marina.”