Home > Automotive & Transportation > Inboard Engines Market

Inboard Engines Market - By Power Source (Diesel, Electric, Gasoline), By Ignition (Electric, Manual), By Power, By Engine (2-Stroke IC Engine, 4-Stroke IC Engine, Electric Engine), By Application (Commercial, Boating), COVID-19 Impact Analysis, 2023 – 2032

  • Report ID: GMI5446
  • Published Date: Mar 2023
  • Report Format: PDF

Industry Statistics

Inboard Engines Market size surpassed USD 1.3 billion in 2022 and is anticipated to witness 7% CAGR from 2023 to 2032.

Inboard Engines Market

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A shift in consumer interest toward recreational boating activities and strong economic growth will offer a boost to market expansion. The U.S. Bureau of Economic Analysis claims that the outdoor recreation economy amounted to nearly USD 454 billion of the total GDP of the country in 2021. Growing consumer spending on such outdoor activities is likely to garner the sales of boats and yachts, favoring inboard engine demand by 2032.

High maintenance associated with inboard engines could create challenges for inboard engines market growth. Opposed to outboard engines, inboard engines are housed inside a hull, which complicates routine cleaning and maintenance. To keep them operating at a high level of efficiency, these engines are needed to undergo routine maintenance. The process includes procedures to remove debris from the engine oil and filters, leakage tests, and checking multiple components. The complex nature of the maintenance of these engines could impact their use in boats.


Growing commercial use of diesel-powered inboard engines

Inboard Engines Market Revenue Share By Power Source

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Inboard engines market from the diesel power source segment is expected to cross USD 2.1 billion by 2032. These inboard engines are considered to be one of the best options for commercial applications like trawling, cruising, search & rescue, and fishing. These applications demand high horsepower inboard engines with excellent fuel efficiency and high-speed cruising capacity. The introduction of new safety laws that forbid the use of gasoline-powered inboard motors will make diesel-powered engines more popular. Furthermore, the affordable of diesel over gasoline for larger vessels should complement the usage of these engines in the long run.

Development of new high-powered engines type to drive market growth

The high-power inboard engines industry size is expected to witness 6.8% growth rate during 2023 to 2032 as large leisure vessels and powerful inboard engines are becoming popular. To meet this demand, a number of participants, notably Torqeedo GmbH, Mercury Marine, and Volvo Penta, are making investments in the development of cutting-edge engines. In terms of their control systems and interaction with other onboard systems, manufacturers are creating engines that are more effective, scalable and smart.

Rising demand for boat rental services in the commercial sector

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of Inboard engines surpassed USD 1.3 billion in 2022 and is anticipated to register 7% CAGR from 2023 to 2032, states GMI report.

The industry size from the high-power segment is expected to witness 6.7% growth during 2023 to 2032 as large leisure vessels and powerful inboard engines are becoming popular.

The North American inboard engines industry is estimated to amass USD 1.7 billion by 2032 due to factors like strong economic growth, rising disposable income and significant consumer interest in recreational boating.

Torqeedo GmbH, Volvo Penta, Caterpillar Inc., Mitsubishi Marine Engines, Mercury Marine, Vetus, Rolls–Royce plc, Cummins Inc., YANMAR, and Indmar Products Inc., are some of the leading manufacturers of inboard engines.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 10
  • Tables & Figures: 838
  • Countries covered: 26
  • Pages: 476

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