Outboard Engines Market 2022-2030; Growth Forecast & Industry Share Report

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Outboard Engines Market Share, Trend Growth
Forecast to 2030
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• Industry Insights

• A research study conducted by Global Market
  Insights, Inc., The Outboard Engines Market size
  could exceed USD 15.5 billion by 2030.
• Global outboard engines market will grow at a
  steady rate because of a strong increase in
  recreational activities. Boating activities saw
  an unprecedented demand among travelers during
  the COVID-19 pandemic in 2020, so much so that
  yacht manufacturing companies were running out of
  inventory.
• The producers also saw an increase in multi-month
  waiting lists because customers purchased boats
  to fulfill their travel needs as well as fend off
  the COVID-19 virus. While the pandemic caused
  heavy losses for the travel tourism sector,
  boat sales touched an all-time high during this
  period.

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• Global market size from electric outboard motors
  will register 5 CAGR during the forecast period
  of 2022-2030. The growing concerns regarding
  carbon emissions and use of fossil fuels to power
  boats have compelled manufacturers to adopt an
  eco-friendlier approach.
• They are now partnering with outboard engine
  manufacturers to integrate innovative
  technologies in electric engines to not only help
  them reduce their carbon footprint but also
  improve their performance and efficiency. For
  instance, Canada-based Vision Marine
  Technologies, Inc. signed a manufacture supply
  agreement with Linamar and its subsidiary McLaren
  Engineering to produce and assemble Visions
  fully electric outboard motors.
• 4-stroke outboard engines will capture 50 of the
  global industry share over the coming years. A
  majority of diesel and petrol engines are
  4-stroke ones because of their wide-ranging
  applications in high-powered race boats.
• One of the major reasons behind manufacturers
  opting for these engines is their fuel
  efficiency a 4-stroke outboard motor is 50 more
  fuel efficient as compared to a 2-stroke one.
  This motor also produces more torque at a lower
  RPM as compared to a 2-stroke one and is
  eco-friendly.

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• Regional Analysis

• The global tourism sector has gradually gained
  significant momentum post the COVID-19 pandemic
  period. According to the UNWTO, Europe and the
  Americas registered the strongest growth in 2021,
  with 19 and 17 rise in tourism activities in
  both the regions respectively. This factor has
  created a positive influence on the demand for
  recreational boating.

• Competitive Analysis

• Tohatsu Corporation
• Cox Powertrain
• Mercury Marine Inc.
• Honda Motor Co. Ltd.
• Evinrude
• Golden Motor Technology Co.Ltd.
• Volvo Penta

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