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), Regional Outlook, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025

Published Date: Oct 2019  |  Report ID: GMI4386  |  Authors: Kiran Pulidindi, Akshay Prakash

Report Format: PDF   |   Pages: 497   |   Base Year: 2018

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Outboard Engines Market size valued at USD 10 billion in 2018 and is estimated to exhibit over 7% CAGR from 2019 to 2025.

Outboard Engines Market

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Outboard engines are propulsion systems that are mounted at the stern of watercrafts consisting of self-contained units including gearbox, engine, and propeller. These engines are available in varied power outputs along with the provision for manual or electronic ignition systems based on their required applications. Unlike the inboard engines, the outboard motors can be easily removed for maintenance and repairs.

Rising adoption of outboard engine for small and medium watercrafts owing to ease in boat handling and enhanced fuel efficiency will support the outboard engines market growth. The outboard engines offer design flexibility for boat manufacturers by providing more cabin space along with improving the NVH levels significantly. Additionally, the engine can be entirely lifted out of the water when not in operating condition. This enables the user to keep sensitive parts including propellers in good working condition owing to not being constantly immersed in water.

Outboard Engines Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 10.69 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 7.3% 2025 Value Projection: 17.63 Billion (USD)
Pages: 497 Tables, Charts & Figures: 830
Geographies covered (22): U.S., Canada, Germany, UK, France, Italy, Netherlands, Norway, Russia, China, India, Japan, Australia, New Zealand, Thailand, Indonesia, South Korea, Brazil, Mexico, Argentina, Peru, Colombia, Algeria, Egypt, Israel, Turkey
Segments covered: Engine Type, Fuel Type, Power, Ignition Type, Applications, and Region
Companies covered (15): Cox Powertrain, Elco Motor Yachts, Evinrude, Golden Motor Technology Co., Ltd., Honda Motor Co., Ltd., LEHR LLC., Mercury Marine, Inc., Mudd Hog Mud Motors, LLC., Powertec Group, Suzuki Marine, Tohatsu Corporation, Torqeedo GmbH, Volvo Penta, Yamaha Motor Co., Ltd., YANMAR CO., LTD
Growth Drivers:
  • Increasing recreational boating activities
  • Rising production and sales of yachts
  • Improved economy and rising government funding for infrastructure development
  • Growing tourism sector along with strengthening the distribution network
  • Increasing disposable income along with surging import & export activities
Pitfalls & Challenges:
  • Intimidatingly high prices of modern outboard engines

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Government initiatives are set to play a major role in improving the boating infrastructure

In April 2019, Boating Infrastructure Grant (BIG) program, of the U.S. Fish and Wildlife Service awarded around USD 20.6 million funding to the states territories for supporting boat tie-up facilities and associated amenities. Additionally, supportive programs and initiatives for promoting recreational fishing activities are escalating the outboard engines market penetration. For instance, in 2017, National Oceanic and Atmospheric Administration held multiple meetings with recreational fishermen for addressing the concerns associated with the anglers.

Growing manufacturing, ownership & maintenance costs affecting the outboard engine sales

Intimidatingly high advanced high-powered engine prices along with higher import duties imposed by several governments may restrict the product penetration over the study timeframe. Additionally, ownership enthusiasm could be dampened by several mandatory safety tests and coast guard approvals needs for these motors. However, this could be offset by tariff exemptions provided in certain countries along with government initiatives would positively impact leisure boating, thereby reducing the ownership costs and supporting the tourism industry.

Electric outboard engines are the way of the future

Outboard Engines Market By Engine Type

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Electric engines are expected to grow significantly over the projected timeframe. This can be attributed to the rising focus of regulatory bodies across the globe to curb pollution levels along with reducing emissions from marine engines. The U.S. Environmental Protection Agency has formulated exhaust standards for marine engines. Moreover, industry players are launching advanced electric outboard motors for catering to a wide customer base. For instance, in 2019, Torqeedo showcased its upgraded DeepBlue series of outboard engines at the Torqeedo’s Electric Days in Germany.

Efficiency, high torque & safety are driving the diesel outboard engine sales

Diesel engine will showcase considerable growth in the outboard engines market owing to their rising deployment in high powered boats. Diesel-powered engines are safer than gasoline powered engines, owing to low volatile properties of diesel as compared to gasoline or other fossil fuels. Additionally, frequent launch of newly upgraded products along with improved fuel utilization & range of diesel engines will further escalate the product sales. For instance, in November 2018, Cox Powertrain launched its CXO 300 HP diesel engine that offers 25% enhanced range as compared with gasolines engine of same output power.

Reliability and compactness for rescue operations & military activities

Improved durability and compactness of these motors are ideal for rescue and search operations. Moreover, these engines are also suitable for rigid inflatable boats, that are preferred for patrolling operations. Military applications will showcase considerable growth over the projected timeframe, owing to rising adoption of these engines for their reliability and reduced noise.

Outboard Engines Market By Application

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Recreational application will hold a significant share in the outboard engines market owing to shifting preference of consumers towards recreational boating activities. According to NMMA and the U.S. Bureau of Economic Analysis (BEA), outdoor recreational water activities including boating and fishing accounts for USD 38.6 billion in recreational spending. Additionally, growing High Net Worth Individuals (HNWIs) population will further support the segment growth.

Rising demand for yachts based on outboard engines will boost the high-powered engine demand

High powered engine holds dominance in the market owing to rising demand for high-powered yachts. Improving economic conditions, rising recreational spending along with proliferating disposal income are playing a major role in increasing the sale of yachts. For instance, United Yacht Sales reported an increase of yacht sales by around 40% in 2018. Moreover, the higher power and torque offered by these high-powered outboard motors complement the manoeuvring of such boats, thereby boosting the segment share.

Convenient & hassle-free pre-ignition and ignition procedures with all-weather capabilities for electric ignition

Electric ignition engine holds significant volume dominance in the outboard engines market owing to the incorporation of electric ignition from small watercrafts to commercial boats. Electric start offers hassle-free ignition of motor through the push of a button in all weather conditions. Advancement in battery technologies has further enhanced the performance of ignition systems.

Europe outboard engine industry to experience significant growth due to increasing boating events across the region

Global Outboard Engines Market By Region

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Europe outboard engines market will showcase a considerable growth owing to increased production of yachts in the region. According to the International Council of Marine Industry Associations (ICOMIA), over 36 million participants across the Europe participated in boating events in 2016. Rising boating popularity along with over 27,000 km of inland waterways and over 70,000 km of coastline provide several opportunities for product penetration in the region.

Acquisitions form the major basis for business expansion

Prominent industry participants include Honda Motor Co., Ltd., Mercury Marine, Inc., Suzuki Marine, Torqeedo GmbH, Cox Powertrain, and Yamaha Motor Co., Ltd. Acquisitions along with integration of new production machinery for enhancing production capabilities will support the market growth. For instance, in July 2017, Volvo Penta announced the acquisition of premium engine manufacturer, Seven Marine. This acquisition will establish the company as a premium engine solution provider in the market.

The outboard engines market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in thousand units and revenue in USD million from 2013 to 2025, for the following segments:

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 Application

  • Commercial
  • Recreational
  • Military

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

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • 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 market size of outboard engines was exceeded USD 10 billion in 2018.
The industry share of outboard engines is poised to grow at a CAGR of 7% from 2019 to 2025.
Diesel engine fuel-type segment will showcase significant growth through 2025 owing to their rising implementation in high powered boats and diesel’s low volatile properties as compared to gasoline or other fossil-based fuels.
As per the analysts at Global Market Insights, Inc., Europe is anticipated to emerge as a major regional contributor, driven by increased production of yachts and rising number of boating events in the region.
The military application segment is set to observe substantial growth during the forecast period due to growing replacement of conventional engines with outboard engines for their reduced noise as well as high reliability.
Prominent industry participants include Honda Motor Co., Ltd., Mercury Marine, Inc., Suzuki Marine, Torqeedo GmbH, Cox Powertrain, and Yamaha Motor Co., Ltd.

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Premium Report Details

  • Published Date: Oct 2019
  • Pages: 497
  • Tables: 814
  • Charts / Figures: 16
  • Companies covered: 15
  • Countries covered: 22

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