Global Outboard Engines Market Size, Drivers, Trends, Opportunities And Strategies – Includes Outboard Engines Market Share
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Rising yacht production and sales are likely to stimulate outboard engine innovation, propelling the market during the forecast period.
The global outboard engines market is expected to grow from $9.05 billion in 2022 to $9.61 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The global outboard engine market size is expected to reach $11.81 billion in 2027 at a CAGR of 5.4%.
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Global Outboard Engines Market Segments Include:
- By Type: Fuel-Oil Outboard, Electric Outboard
- By Engine Type: 2-Stroke, 4-Stroke, Electric
- By Application: Personal Boat, Commercial Boat, Government Enforcement Boat, Other Applications
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global outboard engines market in 2021.
Major Market Players in the outboard engines market include Yamaha Motor Co. Ltd., Brunswick Corporation, Suzuki Motor Corporation, Honda Motor Co. Inc., Bombardier Recreational Products Inc., Tohatsu Corporation, Hidea Power Machinery Co. Ltd.
Product innovation is a crucial trend that is gaining traction in the outboard engine market. Major players in the outboard engine market are working on producing outboard engines that are more fuel efficient and emit less emissions. Mercury Marine, a US-based marine engine manufacturer that operates in the outboard engines market, for example, launched a 7.6-liter V12 600-Verado outboard engine in February 2021. The Verado outboard engine has a steerable gearcase that pivots freely up to 45 degrees, rather than 30 degrees, and has contra-rotating propellers, which improves boat agility. The Verado outboard engine is equipped with a two-speed automated gearbox.
The Outboard Engines Global Market Report 2023 provides a outboard engines market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The outboard engines market forecast analyzes outboard engines market size, outboard engines market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Outboard engines are portable, self-contained propulsion devices used to power boats. Outboard engines are mounted on the boat’s transom, which is located outside the hull. They provide propulsion and steering for the boat.
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