The global outboard engines market size reached US$ 10.28 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.95 Billion by 2028, exhibiting a growth rate (CAGR) of 5.13% during 2023-2028. The growing popularity of boating, increasing number of people participating in watersports, advancements in outboard engine technology represent some of the key players driving the market.
|Market Size in 2022
||US$ 10.28 Billion
|Market Forecast in 2028
||US$ 13.95 Billion
|Market Growth Rate (2023-2028)
Outboard engines, also known as outboard motors, are compact and self-contained propulsion units commonly used in small watercraft such as boats, dinghies, and pontoons. These engines are designed to be mounted on the stern or transom of the vessel, providing power for propulsion and steering. Outboard engines consist of several key components, including the powerhead, which houses the combustion engine is the central component responsible for generating power. It typically contains a two-stroke or four-stroke internal combustion engine that runs on gasoline or, in some cases, diesel fuel. The powerhead is connected to the lower unit through a vertical driveshaft. The lower unit of an outboard engine contains the gearbox, propeller shaft, and the propeller itself. The gearbox is responsible for converting the high-speed rotation of the driveshaft into lower-speed, higher-torque rotation suitable for propelling the boat. The propeller, located at the lower end of the lower unit, creates a thrust force by accelerating water in the opposite direction, propelling the boat forward. Outboard engines offer several advantages, such as portability and easy installation, which make them ideal for small watercraft, as they can be easily removed or transferred between vessels. They also provide excellent maneuverability due to their ability to tilt and swivel, enabling precise steering control. Furthermore, outboard engines offer simplified maintenance and repair, as the entire engine unit can be easily accessed and serviced.
Outboard Engines Market Trends:
One of the primary factors driving the market is the growing popularity of boating and recreational activities. As more individuals and families engage in water-based leisure activities, the demand for boats and outboard engines has increased. Additionally, outboard engines offer portability and versatility, making them a preferred choice for small watercraft. Their lightweight design and ease of installation make them suitable for a wide range of boats, including fishing boats, pontoon boats, and personal watercraft. In addition, the ability to easily remove and transfer the engine between vessels adds to their appeal. Other than this, continuous advancements in outboard engine technology have led to more efficient and environment-friendly engines. Moreover, manufacturers are investing in research and development to improve engine performance, fuel efficiency, emissions reduction, and noise reduction. These technological advancements attract customers looking for modern, efficient, and eco-friendly options. Besides this, outboard engines play a crucial role in fishing as fishermen rely on outboard engines for their durability, maneuverability, and performance in various water conditions. Furthermore, stringent regulations imposed by governments regarding emissions and fuel efficiency standards have driven innovation in the outboard engine industry. Moreover, manufacturers are compelled to develop engines that meet or exceed these regulations. As a result, there is a growing demand for outboard engines that are compliant with environmental standards. Moreover, inflating disposable income levels, the expanding tourism industry and increasing number of people are participating in watersports activities for relaxation are some of the other factors creating a positive market outlook.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global outboard engines market report, along with forecasts at the global, regional, and country levels for 2023-2028. Our report has categorized the market based on the engine type, power type, and application.
Engine Type Insights:
The report has provided a detailed breakup and analysis of the outboard engine market based on the engine type. This includes diesel, gasoline, and electric. According to the report, gasoline represented the largest segment.
Power Type Insights:
- Less than 30 HP
- 30 HP to 100 HP
- Above 100 HP
A detailed breakup and analysis of the outboard engine market based on the power type has also been provided in the report. This includes less than 30 HP, 30 HP to 100 HP, and above 100 HP.
The report has provided a detailed breakup and analysis of the outboard engine market based on the application. This includes commercial, recreational, and military.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for outboard engine. Some of the factors driving the North America outboard engine market included boating culture and recreation, technological advancements and growth of the fishing industry.
The report has also provided a comprehensive analysis of the competitive landscape in the global outboard engine market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include BRP Inc., Brunswick Corporation, Cox Powertrain Ltd., Elco Motor Yachts, Hidea Power Machinery Co. Ltd., Honda Motor Co. Ltd., Suzhou Parsun Power Machine, Suzuki Marine USA LLC (Suzuki Motor Corporation), Tohatsu Corporation, Yamaha Motor Co. Ltd.,etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Outboard Engines Market Report Scope:
|Base Year of the Analysis
| Historical Period
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Engine Type
- Power Type
|Engine Types Covered
||Diesel, Gasoline, Electric
|Power Types Covered
||Less than 30 HP, 30 HP to 100 HP, Above 100 HP
||Commercial, Recreational, Military
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||BRP Inc., Brunswick Corporation, Cox Powertrain Ltd., Elco Motor Yachts, Hidea Power Machinery Co. Ltd., Honda Motor Co. Ltd., Suzhou Parsun Power Machine, Suzuki Marine USA LLC (Suzuki Motor Corporation), Tohatsu Corporation, Yamaha Motor Co. Ltd.,etc.
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Key Questions Answered in This Report:
- How has the global outboard engines market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global outboard engines market?
- What is the impact of each driver, restraint, and opportunity on the global outboard engines market?
- What are the key regional markets?
- Which countries represent the most attractive outboard engines market?
- What is the breakup of the market based on the engines type?
- Which is the most attractive engine type in the outboard engines market?
- What is the breakup of the market based on the power type?
- Which is the most attractive power type in the outboard engines market?
- What is the breakup of the market based on application?
- Which is the most attractive application in the outboard engines market?
- What is the competitive structure of the global outboard engines market?
- Who are the key players/companies in the global outboard engines market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the outboard engines market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global outboard engines market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the outboard engines industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.