Abstract
Summary
Global Outboard Engines Market is valued at approximately USD 9.8 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.3 % over the forecast period 2022-2029. An outboard motor is a system for boats consisting of gears, motors, propellers, and jets. Outboards are widely used in the recreational sector because they are slightly cheaper, more flexible, have higher seating capacity, and are easier to maintain. The increasing use of outboard motors in fishing vessels and shipping activities is expected to increase the demand for such motors. The global outboard motor industry is highly integrated, highly competitive and dominated by the top five companies. Yamaha Motor Co., Ltd., as one of the top players, holds almost 40% market share. The increasing expansion of travel and tourism industry and growing watersports and boating activities are key factors accelerating the market growth.
The growing expansion of travel and tourism sector is contributing towards the growth of Global Outboard Engines Market. For instance, as per Statista – as of 2022, the revenue in the Travel & Tourism market is estimated at USD 734.60 billion, and the revenue is projected to show an annual growth rate of 6.70% between 2022 and 2027, to reach a market volume of USD 1,016 billion by 2027. Also, high demand for advanced outboard engines and increasing investment in the tourism industry would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Outboard Engines stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Outboard Engines Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of branded products and increasing popularity of water sports activities in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising expansion of tourism industry in post covid era and increasing penetration of leading market players in the region.
Major market players included in this report are:
Yamaha Motor Co. Limited
Brunswick Corporation (Mercury Marine)
Suzuki Motor Corporation
Honda Motor Co. Inc.
Bombardier Recreational Products Inc
Tohatsu Corporation
AB Volvo
Suzhou Parsun Power Machine Co. Ltd
Hidea Power Machinery Co. Ltd.
Recent Developments in the Market:
In February 2021, Mercury Marine launched a 600 hp outboard engine. This new engine has 600 hp power and a volume of 7.6 liters.
Global Outboard Engines Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Engine Type, Power, Application, Fuel Type, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Engine Type
2-Stroke
4-Stroke
By Power
75 kW
75-110 kW
110-150 kW
>150 kW
By Application
Commercial
Recreational and Special Purposes
By Fuel Type
Diesel
Gasoline
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Table of Contents
1 Executive Summary
1.1 Market Snapshot
1.2 Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1 Outboard Engines Market, by Region, 2019-2029 (USD Billion)
1.2.2 Outboard Engines Market, by Engine Type, 2019-2029 (USD Billion)
1.2.3 Outboard Engines Market, by Power, 2019-2029 (USD Billion)
1.2.4 Outboard Engines Market, by Application, 2019-2029 (USD Billion)
1.2.5 Outboard Engines Market, by Fuel Type, 2019-2029 (USD Billion)
1.3 Key Trends
1.4 Estimation Methodology
1.5 Research Assumption
2 Global Outboard Engines Market Definition and Scope
2.1 Objective of the Study
2.2 Market Definition & Scope
2.2.1 Scope of the Study
2.2.2 Industry Evolution
2.3 Years Considered for the Study
2.4 Currency Conversion Rates
3 Global Outboard Engines Market Dynamics
3.1 Outboard Engines Market Impact Analysis (2019-2029)
3.1.1 Market Drivers
- 3.1.1.1 Increasing expansion of travel and tourism industry
- 3.1.1.2 Growing watersports and boating activities
3.1.2 Market Challenges
- 3.1.2.1 High Cost of Outboard Engines
3.1.3 Market Opportunities
- 3.1.3.1 High demand for advanced outboard engines
- 3.1.3.2 Increasing investment in tourism industry
4 Global Outboard Engines Market Industry Analysis
4.1 Porter’s 5 Force Model
4.1.1 Bargaining Power of Suppliers
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of New Entrants
4.1.4 Threat of Substitutes
4.1.5 Competitive Rivalry
4.2 Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3 PEST Analysis
4.3.1 Political
4.3.2 Economical
4.3.3 Social
4.3.4 Technological
4.4 Top investment opportunity
4.5 Top winning strategies
4.6 Industry Experts Prospective
4.7 Analyst Recommendation & Conclusion
5 Risk Assessment: COVID-19 Impact
5.1 Assessment of the overall impact of COVID-19 on the industry
5.2 Pre COVID-19 and post COVID-19 Market scenario
6 Global Outboard Engines Market, by Engine Type
6.1 Market Snapshot
6.2 Global Outboard Engines Market by Engine Type, Performance - Potential Analysis
6.3 Global Outboard Engines Market Estimates & Forecasts by Engine Type 2019-2029 (USD Billion)
6.4 Outboard Engines Market, Sub Segment Analysis
6.4.1 2-Stroke
6.4.2 4-Stroke
7 Global Outboard Engines Market, by Power
7.1 Market Snapshot
7.2 Global Outboard Engines Market by Power, Performance - Potential Analysis
7.3 Global Outboard Engines Market Estimates & Forecasts by Power 2019-2029 (USD Billion)
7.4 Outboard Engines Market, Sub Segment Analysis
7.4.1 75 kW
7.4.2 75-110 kW
7.4.3 110-150 kW
7.4.4 >150 kW
8 Global Outboard Engines Market, by Application
8.1 Market Snapshot
8.2 Global Outboard Engines Market by Application, Performance - Potential Analysis
8.3 Global Outboard Engines Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
8.4 Outboard Engines Market, Sub Segment Analysis
8.4.1 Commercial
8.4.2 Recreational and Special Purposes
9 Global Outboard Engines Market, by Fuel Type
9.1 Market Snapshot
9.2 Global Outboard Engines Market by Fuel Type, Performance - Potential Analysis
9.3 Global Outboard Engines Market Estimates & Forecasts by Fuel Type 2019-2029 (USD Billion)
9.4 Outboard Engines Market, Sub Segment Analysis
9.4.1 Diesel
9.4.2 Gasoline
10 Global Outboard Engines Market, Regional Analysis
10.1 Outboard Engines Market, Regional Market Snapshot
10.2 North America Outboard Engines Market
10.2.1 U.S. Outboard Engines Market
- 10.2.1.1 Engine Type breakdown estimates & forecasts, 2019-2029
- 10.2.1.2 Power breakdown estimates & forecasts, 2019-2029
- 10.2.1.3 Application breakdown estimates & forecasts, 2019-2029
- 10.2.1.4 Fuel Type breakdown estimates & forecasts, 2019-2029
10.2.2 Canada Outboard Engines Market
10.3 Europe Outboard Engines Market Snapshot
10.3.1 U.K. Outboard Engines Market
10.3.2 Germany Outboard Engines Market
10.3.3 France Outboard Engines Market
10.3.4 Spain Outboard Engines Market
10.3.5 Italy Outboard Engines Market
10.3.6 Rest of Europe Outboard Engines Market
10.4 Asia-Pacific Outboard Engines Market Snapshot
10.4.1 China Outboard Engines Market
10.4.2 India Outboard Engines Market
10.4.3 Japan Outboard Engines Market
10.4.4 Australia Outboard Engines Market
10.4.5 South Korea Outboard Engines Market
10.4.6 Rest of Asia Pacific Outboard Engines Market
10.5 Latin America Outboard Engines Market Snapshot
10.5.1 Brazil Outboard Engines Market
10.5.2 Mexico Outboard Engines Market
10.5.3 Rest of Latin America Outboard Engines Market
10.6 Rest of The World Outboard Engines Market
11 Competitive Intelligence
11.1 Top Market Strategies
11.2 Company Profiles
11.2.1 Yamaha Motor Co. Limited
- 11.2.1.1 Key Information
- 11.2.1.2 Overview
- 11.2.1.3 Financial (Subject to Data Availability)
- 11.2.1.4 Product Summary
- 11.2.1.5 Recent Developments
11.2.2 Brunswick Corporation (Mercury Marine)
11.2.3 Suzuki Motor Corporation
11.2.4 Honda Motor Co. Inc
11.2.5 Bombardier Recreational Products Inc
11.2.6 Tohatsu Corporation
11.2.7 AB Volvo
11.2.8 Suzhou Parsun Power Machine Co. Ltd
11.2.9 Hidea Power Machinery Co. Ltd
12 Research Process
12.1 Research Process
12.1.1 Data Mining
12.1.2 Analysis
12.1.3 Market Estimation
12.1.4 Validation
12.1.5 Publishing
12.2 Research Attributes
12.3 Research Assumption