In 2022, the marine outboard engines market will be worth US$ 4,370.5 million, and by the end of 2032, it is anticipated to grow at a CAGR of 2.8% to reach US$ 5,735.1 million. By the end of 2022, outboard motor use in recreational activities will account for more than a quarter of the market.
A marine outboard engine serves as a propulsion mechanism for boats used for fishing, recreation, rescue, and other specialised tasks. The outboard motor is a complete unit in and of itself, made up of an engine, gearbox, and propeller. The most popular and widely used motorized device for small watercraft is an outboard engine.
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Major Stakeholders
- Brunswick Corporation
- DEUTZ AG
- Honda Motor Co., Ltd
- Suzuki Motor Corporation
- BRP Inc
- Yamaha Motors Co., Ltd.,
- Mahindra and Mahindra, Johnson Outdoors, Inc.
- Kräutler Elektromaschinen GmbH
- Parsun Power Machine Co., Ltd.
- Volvo Penta
- Tohatsu Corporation.
Key Statistics Supporting the Surge
- The global marine outboard engine market will reach US$ 4,370.5 million by 2022.
- The market witnessed 2.3% CAGR between 2017 and 2021.
- Above 100 HP in the power segment dominates the market with US$ 2,168.4 million valuations in 2022.
- Under boat type, fishing vessels dominates the market and are valued at US$ 1,924.8 million in 2022 and a market share of 44.0%.
- Based on region, demand for marine outboard engine expected to increase in North America during the forecast period and capture market share of 52.1%.
Competitive Landscape
Focus on the expansion of its business through increasing its sales offices & distribution centers to enhance its presence across the globe. Key manufacturers are found to be involved in material optimization, technological advancement, and productivity to cater to a wide customer base worldwide.
- Marine motors a subsidiary of Brunswick Corporation declared its partnership with Frydenbø in 2020. It will be an engine partner to the Nordkap and Sting boat brands.
- Yamaha Motor Co., Ltd. made an investment in a U.S startup called Siren Marine, in March 2021. Siren Marine Company utilizes IoT technology and provides smart boat solutions for innovatively connecting the marine industry.
Some of the important advantages of an outboard engine include: being easy to operate on the outboard of the ship, being easy to disassemble, relatively cheaper than inboard engines, and four-cylinder engines are quitter and vibration free.
The market is mainly prevalent in developed regions such as North America and Europe. The U.S. is the largest independent market for outboard engines, while Japan is the largest exporter of outboard engines. Additionally, with the rapidly growing marine tourism industry, there has been a rise in the demand for the marine outboard engine in developing countries as well.
Industry Research
· By Power :
- Less than 30 HP
- 30HP to 100 HP
- Above 100 HP
· By Ignition Type :
- Electric
- Manual
· By Engine Type :
- Two Stroke Carbureted
- Two Stroke Electronic Fuel Injection
- Two Stroke Direct Injection System
- Four Stroke Carbureted
- Four Stroke Electronic Fuel Injection
· By Boat Type :
- Fishing Vessel
- Recreational Vessel
- Special Purpose Boats
· By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East and Africa (MEA)
Regional Analysis For Marine Outboard Engine Market:
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)
Key Questions Covered in the Marine Outboard Engine Market Report
- What is the projected value of the Marine Outboard Engine factors Industry in 2022?
- At what rate will the global Marine Outboard Engine factors market size grow until 2032?
- Which are the factors hampering the growth of Marine Outboard Engine factors?
- Which region is expected to lead in the global Marine Outboard Engine factors market By 2032?
- Which are the factors driving the Marine Outboard Engine factors Industry during the forecast period?
- What is the expected market value of the Marine Outboard Engine factors market during the forecast period?
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