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Inboard Engines Global Market Report 2024 - By Report, Size, Share And Demand, Outlook By 2033
Inboard Engines Market
As per the report, the inboard engines market size has grown strongly in recent years. It will grow from $1.32 billion in 2023 to $1.42 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The inboard engines market size is expected to see strong growth in the next few years. It will grow to $1.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
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Surging Recreational Boating Activities Fuel Expansion Of The Inboard Engine Market
Increasing recreational boating activities are expected to propel the growth of the inboard engine market going forward. Recreational activities refer to sports or other leisure activities on or in bodies of water. Inboard Engines provides power and propulsion for boats and watercraft. For instance, in May 2023, according to the National Marine Manufacturers Association, a US-based trade association, recreational boating saw a 36% increase in annual economic activity to $230 billion in 2023. Further, there was a 14% increase in jobs associated with the recreational maritime industry to 812,000 in 2023. Therefore, increasing recreational boating activities are driving the growth of the inboard engine market.
Advanced Features Enhanced Inboard Engine Market Performance
Product innovation is a key trend gaining popularity in the inboard engine market. Major companies operating in the inboard engine Market are developing innovative products to sustain their position in the market. For instance, in June 2021, Volvo Penta, a Sweden-based engine manufacturing company, launched the D13 Inboard engine with an in-line 6-cylinder and a high-pressure unit injector system. The engine's stiff cast-iron cylinder block and cylinder head, which offer outstanding reliability and long-term endurance, are part of its robust design and construction.
The inboard engines market covered in this report is segmented -
1) By Power Source: Diesel, Electric, Gasoline, Other Power Sources
2) By Power: Low, Medium, High
3) By Ignition: Electric, Manual
4) By Engine: IC Engine, Electric Engine
5) By Application: Commercial, Boating, Others Applications
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Major companies operating in the inboard engines market report are Honda Motor Co Ltd., Caterpillar Inc., John Deere Power Systems,Mitsubishi Heavy Industries Ltd., Suzuki Motor Corporation, Cummins Inc., Rolls-Royce plc,Yamaha Motor Corporation, Yanmar Holdings Co Ltd., Hyundai Heavy Industries Co Ltd., Wartsila Corp, Deutz AG, Mercury Marine, Motoren Werke Mannheim, FPT Industrial,Volvo Penta LLC, Perkins Engines Company Limited,Kohler Power Systems, Torqeedo Gmbh, Tohatsu Corporation, Nanni Industries SAS, Ilmor Engineering Inc., Steyr Motors Betriebs GmbH, PCM Engines, Westerbeke Corporation, Crusader Engines, MAN Engines, Vetus,Lombardini Marine, Craftsman Marine B.V.
Contents of the report:
1. Executive Summary
2. Inboard Engines Market Report Structure
3. Inboard Engines Market Trends And Strategies
4. Inboard Engines Market - Macro Economic Scenario
5. Inboard Engines Market Size And Growth
…..
27. Inboard Engines Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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