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Outboard Engine Market Trends

  • Report ID: GMI4386
  • Published Date: Feb 2024
  • Report Format: PDF

Outboard Engine Market Trends

The outboard engine industry is witnessing a growing interest in electric outboard engines. With advancements in battery technology and a focus on environmental sustainability, electric propulsion systems are gaining traction. Electric outboard engines offer quieter operation, reduced emissions, and lower maintenance requirements. Digital technology is increasingly integrated into outboard engines, offering features such as digital controls, touch-screen displays, and connectivity options. These smart solutions enhance user experience, provide real-time diagnostics, and enable remote monitoring and control.

The adoption of hybrid propulsion systems, combining traditional combustion engines with electric components, is a notable trend. Hybrid outboard engines offer flexibility, allowing boaters to switch between power sources based on their needs, promoting fuel efficiency and reduced environmental impact. There is a growing demand for lightweight and portable outboard engines, particularly for smaller boats, kayaks, and inflatable vessels. Manufacturers are designing compact and easily transportable engines that cater to the needs of recreational boaters and outdoor enthusiasts.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of outboard engine reached USD 10 billion in 2023 and is set to witness 5.5% CAGR from 2024 to 2032, led by rising recreational boating activities attributed to the strong economic growth.

Gasoline segment held the dominant market share of 81% in 2023, owing to the versatility and wide availability of diesel based outboard engines

North America market held a revenue share of 55% in 2023, driven by the regional consumer’s love for boating and the desire for reliable & efficient propulsion systems.

Camfil, Cox Powertrain, Elco Motor Yachts, Evinrude, Honda Motor Co., Ltd, LEHR LLC, Mercury Marine, Inc, Mudd Hog Mud Motors, LLC, and Powertec Group are some of the major industry contenders.

Outboard Engine Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 250
  • Countries covered: 22
  • Pages: 387
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