Outboard Engines Market Size By Engine Type (2-stroke, 4-stroke, Electric), By Fuel Type (Diesel, Gasoline, Electric), By Power (Low, Mid, High), By Ignition Type (Electric, Manual), By Applications (Commercial, Recreational, Military), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Jan 2021  |  Report ID: GMI4386  |  Authors: Kiran Pulidindi, Akshay Prakash

Report Format: PDF   |   Pages: 350   |   Base Year: 2020

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Outboard Engines Market size valued at USD 9.1 billion in 2020 and is estimated to exhibit over 5% CAGR from 2021 to 2027. Developments in propeller materials to enhance the reliability and performance of engines along with the adoption of several technologies including BLAST and programmed fuel injection will enhance fuel efficiency, which is expected to drive the industry growth.

The increasing watersports and boating activities coupled with the establishment of several water clubs across the globe will support the market demand. According to the U.S. Coast Guard study, around 84.5 million citizens went boating in 2018, accounting for over 25% of the total U.S. households. Moreover, the proliferating consumer spending on leisure activities will further spur the industry expansion.

Outboard Engines Market

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Stringent exhaust emission regulations adopted by several countries provide opportunities for outboard engines to be an alternative to sterndrive engines. Sterndrive engines are required to be fitted with exhaust catalysts and fuel injection technologies to limit exhaust emissions. This has resulted in incurring additional costs to users. Outboard engines are fuel-efficient and economical compared to sterndrive & inboard engines and thereby manufacturers are adopting outboard engines as an alternative in several new small and medium boats.

Outboard Engines Market Report Coverage
Report Coverage Details
Base Year:2020
Market Size in 2020:USD 9.1 Billion
Forecast Period:2021 to 2027
Forecast Period 2021 to 2027 CAGR:5%
2027 Value Projection:USD 13.19 Billion
Historical Data for:2017 to 2020
No. of Pages:350
Tables, Charts & Figures:419
Segments covered:Engine Type, Fuel type, Power, Ignition, Application and Region
Growth Drivers:
  • Increasing recreational boating activities
  • Rising production and sales of yachts
  • Improved economy and the rising government funding for infrastructure development
  • Growing tourism sector along with the strengthening distribution network
  • Increasing disposable income along with surging import & export activities
Pitfalls & Challenges:
  • Prohibitive prices of modern outboard engines

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Increasing use of small & medium boats to fuel 2-stroke engines demand

The 2-stroke outboard engines market is predicted to hold more than USD 3 billion by 2027. The increasing demand for two-stroke engine can directly be conjugated with functional advantages compared to its four-stroke counterpart such as lighter weight, high torque output, low maintenance costs, and excellent power to weight ratio. Recent advancements in engine technology have also been a contributing factor for the growing adoption of two-stroke engines. Manufacturers are constantly exploring and experimenting with two-stroke technology to take advantage of its capabilities.

Introduction of high-powered diesel engines will propel the business expansion

Outboard Engines Market Size

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In 2020, the diesel engines segment captured around 10% of the outboard engines market share. The diesel outboard engine will showcase considerable growth owing to the strengthening of distribution networks and the launch of high-powered diesel engines. Lower emission along with the availability of a wide range of power output will boost the market revenue. Several development projects, such as Bison, are developing diesel outboard engines with a minimum environmental impact. The new prototype developed under Bison has showcased over 35% CO2, 99% of CO, and 70% of HC + NOx emission compared to petrol outboard standards.

The ongoing COVID-19 has significantly impacted the boat production in 2020, and despite the forced locked down and boat production halt worldwide, the boating industry has witnessed significant growth, for instance, according to the National Marine Manufacturers Association (NMMA) in 2020, new powerboat sales in U.S reached over 310 thousand units, which are likely to fuel the outboard engine market outlook during the forecast period.

Rising recreational & fishing boating activities to drive demand for low-powered outboard engines

Outboard Engines Market Share

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Low power outboard engines market is poised to witness around 5% CAGR through 2027 driven by predominant usage in fishing and recreation boating. The proliferation in the use of small motors has encouraged established manufacturers to introduce new & innovative offerings to serve the rising customer demand.

The segment will gain significant share propelled by increasing consumer inclination toward efficient and zippy motors ideal for fulfilling short haul operations in canoe, sailboats and dingy. Compact size, portability, quiet operation, and efficient torque delivery are some of the contributing factors, making low-powered options ideal for day to day recreational activities on small boats.

North America to hold major share on the back of presence of the large boating industry

Outboard Engines Market Regional Statistics

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North America held over 40% of the outboard engines market volume share in 2020 due to high economic growth rates, increasing disposable incomes, and customer interests. The increasing popularity of recreational activities, such as powerboat racing, sailing, and cruising, is predominantly boosting the market demand.

The U.S. is a major contributor to the growing demand for outboard engines in all applicable segments, and multiple factors, such as growing leisure & recreational activities, rising disposable income, etc., are contributing to the growing demand for outboard engines. As per NMMA, in 2020, the annual spending of the U.S. consumers on marine products & services and boat reached around USD 47 billion, an increase of 9% compared to 2019.

Competitive Market Analysis

The outboard engines industry is highly consolidated with major five players accounting for nearly more than half of the global market. The market is likely to witness high competition on account of the adoption of new strategies including partnerships, new product developments, and long-term contracts to gain high visibility in the market. The innovative product design and efficient aftersales services will spur the market growth for industry players.

Some of the key manufacturers of the outboard engines market are Honda Motor Co., Ltd., Mercury Marine, Inc., Suzuki Marine, Yamaha Motor Co., Ltd., Powertec Group, Mudd Hog Mud Motors, LLC, Torqeedo GmbH, Cox, and Powertrain among others. Key strategies adopted by these manufacturers are expansion of production facilities and investment in R&D and new product development.

The market research report on outboard engines includes in-depth coverage of the industry with estimates & forecast in terms of volume in Thousand Units and revenue in USD million from 2017 to 2027 for the following segments:

Market, by Engine Type

  • 2-stroke
  • 4-stroke
  • Electric

Market, by Fuel Type

  • Diesel
  • Gasoline
  • Electric

Market, by Power

  • Low
  • Mid
  • High

Market, by Ignition Type

  • Electric
  • Manual

Market, by Ignition Type

  • Commercial
  • Recreational
  • Military

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Netherlands
    • Norway
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • New Zealand
    • Thailand
    • Indonesia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Peru
    • Colombia
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Turkey

Frequently Asked Questions (FAQ) :

The outboard engines market size reached an annual value of USD 9.1 billion in 2020 and is poised to grow at a 5% CAGR through 2027.
2-stroke outboard engines industry size is projected to register more than USD 3 billion by 2027 owing to its functional advantages like high torque output, lighter weight, low maintenance costs and more.
North America accounted for 40% of the total outboard engine industry share in 2020 owing to the growing popularity of recreational activities along with increasing disposable incomes.
The low power outboard engines market share is expected to strike a 5% CAGR up 2027 driven by the surging demand in fishing and recreation boating.

Premium Report Details

  • Published Date: Jan 2021
  • Pages: 350
  • Tables: 396
  • Charts / Figures: 23
  • Companies covered: 15
  • Countries covered: 26

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