Press release
Outboard Motor Market Overview, Key Players, Growth Factors, Demand, And Forecast to 2025
The Outboard Motor market is anticipated to register a CAGR of about 3%, during the forecast period (2020 - 2025).
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Top Companies in the Global Outboard Motor Market: DEUTZ Aktiengesellschaft, Honda Motor Co., Ltd, Brunswick Corporation, Tohatsu Corporation, LEHR, LLC, Suzuki Motor Corporation, Yamaha Motor Co., Ltd., BRP Inc., Volvo Penta, Parsun Power Machine Co., Ltd
Key Market Trends
Recreation Boating is Expected to Drive Growth During the Forecast Period
Recreational boating continues to entice large volumes of participants, particularly in the US. According to a leading trade association the recreational boating industry enjoyed its seventh successive growth year in 2018, with yearly US sales of marine products and services, and boats recording a 5% growth over 2017. Many people around the worlds are spending more on tourism and adventure sports and recreational activities around the world that is because of the increase in per capita income of people around the world.
Regional Analysis:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
North America is Expected to be the Market Leader
North America holds significant share of global outboard motor sales. The increasing income levels and inclination of the people towards recreational and leisure activities is more than any other parts of the world. The USA is the largest single market for outboard engines, with sales of higher-powered outboards (200hp+) growing annually for the last seven years. Total outboard sales across the nation reached a 12-year high in 2018 according to the National Marine Manufacturers Association (NMMA), while the International Council of Marine Industry Associations (ICOMIA) reports that 88% of all marine engines sold in the US are now outboards.
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