Global Inboard Engines Market Overview 2024, Forecast To 2033
8 Mar, 2024
The inboard engines market has demonstrated strong growth, with its size set to rise from $1.32 billion in 2023 to $1.42 billion in 2024, reflecting a CAGR of 8.3%. This growth is attributed to various factors such as the expansion of the marine leisure industry and consumer trends favoring larger vessels. Looking ahead, the market is expected to continue its upward trajectory, reaching $1.89 billion in 2028, with a CAGR of 7.3%. Factors driving this growth include stringent emission regulations, increasing demand for autonomous boats, and a shift towards alternative fuels. Key trends in the forecast period include the adoption of electric propulsion technologies, advancements in digitalization and connectivity, and the integration of augmented reality in design and maintenance processes, alongside a growing emphasis on sustainability in materials and manufacturing practices.
Global Inboard Engines Market Key Driver
The inboard engine market foresees expansion due to the surge in recreational boating activities, leading to increased economic activity and job creation within the recreational maritime industry. For example, in May 2023, the National Marine Manufacturers Association reported significant growth in annual economic activity and jobs associated with recreational boating, fostering market growth.
Get A Free Sample Of The Global Inboard Engines Market ReportGlobal Inboard Engines Market Segments
The inboard engines market covered in this report is segmented –
1) Power Source:Diesel, Electric, Gasoline, Other Power Sources
2) Power:Low, Medium, High
3) Ignition:Electric, Manual
4) Engine:IC Engine, Electric Engine
5) Application:Commercial, Boating, Others Applications
By Geography: The countries covered in the inboard engines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific was the largest region in the inboard engines market in 2023. The regions covered in the inboard engines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Inboard Engines Industry Players
Honda Motor Co Ltd.; Caterpillar Inc.; John Deere Power Systems;Mitsubishi Heavy Industries Ltd.; Suzuki Motor Corporation; Cummins Inc.; Rolls–Royce plc;Yamaha Motor Corporation; Yanmar Holdings Co Ltd.; Hyundai Heavy Industries Co Ltd.; Wartsila Corp; Deutz AG; Mercury Marine; Motoren Werke Mannheim; FPT Industrial;Volvo Penta LLC; Perkins Engines Company Limited;Kohler Power Systems; Torqeedo Gmbh; Tohatsu Corporation; Nanni Industries SAS; Ilmor Engineering Inc.; Steyr Motors Betriebs GmbH; PCM Engines; Westerbeke Corporation; Crusader Engines; MAN Engines; Vetus;Lombardini Marine; Craftsman Marine B.V.
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Inboard Engines Market Overview
An inboard engine is a four-stroke engine that propels a drive shaft through the hull's bottom and connects to a propeller at the other end. Inboard engines are preferred for water activities such as wakeboarding and waterskiing due to their superior wake control, strong towing capacity, and open transom for towing ropes,