What Does the Historical and Current Marine Outboard Engines Market Size Trend Indicate?
The marine outboard engines market has seen considerable growth due to a variety of factors.
• There has been a consistent growth in the marine outboard engines market in the past few years. The market is expected to expand from $4.49 billion in 2024 to $4.64 billion in 2025, with a compound annual growth rate (CAGR) of 3.3%.
Reasons for this steady increase during the historical period include a rise in recreational boating activities, consumer preference for lightweight engines, growth in the boating industry, environmental regulations, and economic expansion.
What Is The Projected Growth And Market Size For The Marine Outboard Engines
The marine outboard engines market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of marine outboard engines is anticipated to experience consistent growth in the upcoming years, reaching $5.49 billion in 2029 with a compound annual growth rate (CAGR) of 4.3%.
The expansion during the forecast timeframe can be credited to factors such as emerging electrification tendencies, the advent of sophisticated materials and manufacturing, the proliferation of global tourism, an upward trend in the middle-class demographic, and rigorous emission standards. Dominant tendencies during this forecasted span involve the merger of smart technology, governmental inducements for environmentally friendly technologies, technological evolution, the electrification of outboard engines, along with efficiency and fuel economy.
Which Factors Are Boosting Growth In The Marine Outboard Engines Market?
The growth of the marine outboard engine market is expected to be fueled by an increasing demand for maritime transportation. When goods or individuals need to be transported using sea routes, maritime transport is the mode of choice, and marine outboard engines are vital for this. These engines, which are primarily affixed to maritime transport vessels, enhance speed and allow the boat to cut through the water more smoothly. Consequently, more marine transportation will lead to a rise in the need for outboard engines. For example, in 2023, Statistics Finland, a governmental agency, reported that Finland moved 1.2 million metric tons of general cargo and 0.7 million people were transported via passenger traffic. Import volume rose by 10% to 4.0 million metric tons, and the total foreign shipping traffic was 7.4 million metric tons for the year. Moreover, the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental body, stated in its 2022 Handbook of Statistics that seaborne trade experienced a 3.2% increase in 2021. As the demand for maritime transportation is on the rise, so is the growth of the marine outboard engine market.
What Are The Main Segments Of The Global Marine Outboard Engines Market?
The marine outboard engines market covered in this report is segmented –
1) By Engine Type: Two Stroke Carbureted, Two Stroke Electronic Fuel Injection, Two Stroke Direct Injection System, Four Stroke Carbureted, Four Stroke Electronic Fuel Injection
2) By Boat Type: Fishing Vessel, Recreational Vessel, Special Purpose Boats
3) By Power: Less Than 30 HP, 30 HP To 100 HP, Above 100 HP
4) By Ignition Type: Electric, Manual
5) By Application: Military, Civilian
Subsegments:
1) By Two Stroke Carbureted: Traditional Two Stroke Engines, Lightweight Two Stroke Models
2) By Two Stroke Electronic Fuel Injection: EFI Two Stroke Engines, High-Performance EFI Models
3) By Two Stroke Direct Injection System: Direct Injection Two Stroke Engines, High-Efficiency Direct Injection Models
4) By Four Stroke Carbureted: Standard Four Stroke Carbureted Engines, Modified Four Stroke Models
5) By Four Stroke Electronic Fuel Injection: EFI Four Stroke Engines, Advanced Four Stroke Models with Enhanced Performance
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What Emerging Trends Are Influencing The Growth Of The Marine Outboard Engines Market?
One noticeable trend rising in fame in the marine outboard engine market is product innovation. Major firms in this industry are keenly advancing inventive solutions to reinforce their market foothold. For example, in January 2023, Yamaha Motor Co. Ltd., a company based out of Japan, introduced its latest marine outboard engines - the XTO 450hp V8 and the XTO 400hp V8. These innovative engines aim to provide superior acceleration and higher speeds for users. Introduced features include a new cowl design, enhanced graphics, and newly integrated utilities such as a full tilt capability with an in-built tilt limiter and integrated digital electric steering (DES). Furthermore, the engines assure durability for more straightforward maintenance and efficient charging. A noise-reducing muffler has also been fitted to enhance silence during high-speed operation.
Who Are the Key Players in the Marine Outboard Engines Market?
Major companies operating in the marine outboard engines market include:
• Honda Motor Co Ltd.
• Selva SpA
• AB Volvo
• Suzuki Motor Corporation
• Yamaha Motor Co Ltd.
• Brunswick Corporation
• YANMAR Marine International B.V.
• Hidea Power Machinery Co Ltd.
• Parsun Power Machine Co Ltd.
• Mercury Marine
• PropEle Electric Boat Motors Inc.
• Torqeedo GmbH
• Taizhou Gongda Motors Parts Co Ltd.
• LEHR Holdings LLC
• Cimco Marine AB
• Oxe Marine AB
• Cox Powertrain Ltd.
• Krautler Elektromaschinen GmbH
• Tohatsu Corporation
• Hangzhou Hidea Power Machinery Co Ltd.
• Yongkang Longxiao Industry And Trade Co Ltd.
• Suzhou Parsun Power Machine Co Ltd.
What Is The Most Dominant Region In The Marine Outboard Engines Market?
North America was the largest region in the marine outboard engines market in 2024. The regions covered in the marine outboard engines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
