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Inboard Engines Market Size
- Report ID: GMI5446
- Published Date: Mar 2023
- Report Format: PDF
Inboard Engines Market Size
Inboard Engines Market size surpassed USD 1.3 billion in 2022 and is anticipated to witness 7% CAGR from 2023 to 2032.
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Inboard Engines Market Size in 2022: | USD 1.3 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 7.2% |
| 2032 Value Projection: | USD 2.5 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 476 |
| Tables, Charts & Figures: | 838 |
| Segments covered: | Power Source, Power, Ignition, Engine, Application, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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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.
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Inboard Engines Market Scope
