Please select your home edition
Edition
SW newsletters (top)

Outboard Engine Market players need to prioritize high boat offerings to consolidate their position

by Shantanu Ingale 6 Jul 2019 22:19 PDT
It's all in the numbers. This is Nizpro Marine's 450S Outboard © John Curnow

As per the key insights of a research, the global outboard engines market is estimated a substantial growth during the forecast period of (2019 -2029), owing to factors such as growing marine tourism, advanced features of outboard engines, and relatively low costs.

The global outboard engines market generated a revenue to the tune of approximately US$ 3.5 Bn in 2014, which is expected to reach approximately US$ 4 Bn by the end of 2019. The outboard engines market is expected to grow at a CAGR of around 2% between 2019 and 2029, and is estimated to reach a global value of nearly US$ 5.5 Bn by the end of 2029.

Outboard Engines Market: Segment-wise Analysis

On the basis of power, the global outboard engines market is segmented into less than 30 HP, 30HP to 100 HP, and above 100 HP. The high horsepower category outboard engines are in high demand owing to the increasing demand for heavier boats. The increasing sales of lengthy boats is expected to drive the demand for heavy outboard engines in the coming years. Therefore, manufacturers are focusing on introducing high power engines. Although, high power engines are gaining significant traction in the market in terms of volume share, low and mid-sized engines account for relatively high demand.

By technology type, the global market is segmented into five segments such as two stroke carbureted, two stroke electronic fuel injections, two stroke direct injection systems, four stroke carbureted, and four stroke electronic fuel injections. The four stroke electronic fuel injection segment is projected to dominate the global market throughout the forecast period owing to its high demand for being noiseless and vibration free. Furthermore, the four stroke carbureted segment is expected to be the second most opportunistic segment in the global market.

By start type, the global outboard engines market is categorized into electric start type and manual start type. However, the manual start type segment is significantly lower in cost, electric start type outboard engines are more popular in demand. The electric start type segment is estimated to account for nearly 75% of the total market throughout the forecast period.

On the basis of the boat type, the global outboard engines market is segmented into three segments such as fishing vessels, recreational vessels, and special purpose boats. From the global perspective, the fishing vessels segment is estimated to dominate the market accounting for above 40% share. The growing marine tourism is anticipated to propel the demand for recreational vessels. This, in turn, is estimated to project substantial opportunities in the global outboard engines market.

By region, the global outboard engines market study was conducted in seven regions such as North America, Caribbean, East Asia, Latin America, Oceania, and Middle East & Africa. The market is mainly prevalent in developed regions such as North America and Europe. The U.S. is the prominent independent market for outboard engines, while Japan is a prominent exporter of outboard engines but lags behind in terms of domestic sales.

The global outboard engines market is a highly consolidated one and prominent players are holding more than 80% of shares in the global market in 2018. Presence of these players are medium to high across the globe. There are very limited number of small and medium-sized outboard engine manufacturers and holds minor share in the overall market.

Outboard Engines Market: Vendor Insights

The report highlights few of the market players that are prominent and have established themselves as leaders in the global outboard engines market.

Key players of the market are Yamaha Motors Co., Ltd., Suzuki Motor Corporation, Honda Motor Co., Ltd, Brunswick Corporation, BRP Inc., Parsun Power Machine Co., Ltd, Tohatsu Corporation, and LEHR LLC., among others.

These insights are based on a report on Outboard Engine Market by Persistence Market Research.

Related Articles

The Industry responds to Covid-19 challenge
Peter Rendle's latest Australian MarineBusinessWorld.com newsletter The Covid-19 virus continues to cause unparalleled disruption to all facets of life in Australia. Every industry, employer and employee is affected and there is no time line on when life gets back to normal. Posted on 2 Apr
HKBIA Covid-19 Impact Survey
Event cancellation and Mainland industry downturn are major factors A survey of Hong Kong's leisure marine businesses, members of the Hong Kong Boating Industry Association, the HKBIA, attracted a large and powerful response from the multifaceted membership, most of whom are SMEs. Posted on 1 Apr
Australian Boat Shows join the cancellation list
Peter Rendle's latest Australian MarineBusinessWorld.com newsletter With the Covid-19 virus causing chaos the world over and the announcement that the Olympic Games had been postponed for 12 months, it came as no surprise to receive the announcement of cancelled boat shows in Australia. Posted on 26 Mar
Hong Kong Yacht Show. Reset, and try again.
A new international showcase for Asia's most mature yachting market Verventia Pte Ltd, organisers of Singapore and Thailand Yacht Shows, have joined forces with the HKCYIA to launch the Hong Kong Yacht Show - bringing a new international showcase to Asia's most mature yachting market. Posted on 24 Mar
An industry update in light of Coronavirus turmoil
Peter Rendle's latest Australian MarineBusinessWorld.com newsletter We are already seeing the repercussions of the coronavirus pandemic and the government rulings on social gatherings. The Pittwater Expo at the Royal Prince Alfred Yacht Club has been cancelled together with the Rosehill Boat Show in Sydney. In Queensland Posted on 19 Mar
Will world economic uncertainty affect industry?
Peter Rendle's latest Australian MarineBusinessWorld.com newsletter The effects of the Covid-19 virus continue to rock the world and the Australian Government has extended a ban on non-citizen arriving from overseas countries to include Italy. How these measures will affect the industry is still being debated. Posted on 12 Mar
The industry looks toward upcoming boat shows
Peter Rendle's latest Australian MarineBusinessWorld.com newsletter As we slowly emerge from summer amid welcome torrents of rain along the eastern states in Australia, the industry looks to prepare for upcoming boat shows. Posted on 5 Mar
Superyachts provide industry opportunities
Peter Rendle's latest Australian MarineBusinessWorld.com newsletter While the coronavirus plays havoc with world trade, Australia has faced its most tumultuous summer in years. Wild fires have devastated many hectares of bush while the following downpour of rain has caused its own problems. Posted on 27 Feb
Positive feedback despite world trade disruption
Peter Rendle's latest North American MarineBusinessWorld.com newsletter As the coronavirus dominates world news and is now having an effect on the stock market, the boating industry is reporting positive feedback from the numerous boat shows that have taken place this year. Posted on 26 Feb
Time to get the accommodation fixed for Hammo
Peter Rendle's latest Australian MarineBusinessWorld.com newsletter Having sailed at Hamilton Island Race Week on numerous occasions I know from experience the difference between sleeping in a well-appointed hotel/chalet room as opposed to a pipe cot aboard the yacht. Posted on 20 Feb
MBW newsletters (top)