Outboard Engines Market Size to surpass $17bn by 2025

Outboard Engines Market size is predicted to surpass USD 17 billion by 2025; according to a new research report by Global Market Insights, Inc.
 

Rising recreational and leisure boating activities along with growing boat club activities will drive the outboard engines market. Boat manufacturers are deploying these motors in new watercrafts and leisure boats owing to compact designs and easier handling offered by these motors. Additionally, it enables boat manufacturers to provide wide interior space to customers along with improved engine acceleration characteristics.

 

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Technological advancements will remain a key growth driver globally

Development of high-powered engine technologies that enable usage of outboard motors in large boats along with rising demand for larger cruise boats will provide lucrative opportunity for outboard engines market expansion. Industry participants are strategically realigning their motor production facilities along with frequently launching new products owing to higher demand of high-powered motors, majorly from North America and Europe.
 

Reliability, performance, and durability impacting outboard engine popularity

Increasing customer expectations towards reliability, durability, and performance of motors are pressurizing industry participants to invest in R&D. Industry players including Mercury Marine are engaged in developing new metal alloys that enhances the corrosion resistance and toughness, of aluminum alloys, thereby improving motor durability. Additionally, motor manufacturers are developing new materials with recycled materials that enable manufacturers to minimize raw material procurement costs and reduces the environmental impact significantly.
 

Browse key industry insights spread across 497 pages with 814 market data tables & 16 figures & charts from the report, “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” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/outboard-engines-market
 

2-stroke engines segment will hold a volumetric share of more than 40% in the overall outboard engines market by 2025, owing to wide usage of these motors in small fishing boats and watercrafts. Several advantages offered by these motors including lightweight, higher output, and simpler structure as compared to 4-stroke motors with same output are main factors driving the product share.
 

Electric fuel type engines will showcase a significant growth rate of around 8.5% owing to developments in electric motors along with rising awareness about emission impact on marine environment. Low powered electric motors are emerging as a potential substitute for small gasoline motors.
 

High powered engines will generate more than USD 9.5 billion for the outboard engines market by 2025 owing to rising demand for large yachts and high-performance boats across the globe. Industry players are developing high powered motors along with engaged in expanding existing engine component production facilities with investments in new machinery.
 

Electric ignition type engines will showcase the fastest growth in the outboard engines market attributed to rising adoption of electric ignitions in small watercrafts and fishing boats. Electric ignitions are widely used in commercial boats. It offers benefits of hassle-free and easy ignition of motor in all-weather conditions, thereby increasingly adopted by boat manufacturers in small watercrafts.
 

Military applications are growing in the industry owing to increasing deployment of these motors in rescue boats. The rising deployment of these motors in inflatable boats along with growing adoption of boats by the U.S. Coast Guards will proliferate the industry expansion.
 

North America to dominate the global outboard engine consumption

North America outboard engines market will showcase significant growth owing to increasing spending on recreation and leisure boating activities. Healthy economic development along with rising government support to improve boating infrastructure are expected to escalate the product demand. Strong presence of boat manufacturers along with motors distributors will further support the growth.
 

Market players are focusing on new product development

The industry participants in the outboard engines market includes Honda Motor Co. Ltd., Yamaha Motor Co., Ltd., Mercury Maritime, Torqeedo GmbH, Cox Powertrain, LEHR LLC, Volvo Penta, Suzuki Marine, Evinrude, and Mudd Hog Mud Motors. Product launch along with mergers and acquisitions are key strategies adopted by industry players to enhance their share. For instance, in January 2018, Suzuki Marine launched DF325A 4-stroke engine for large boat customers.
 

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