Marine Outboard Engines Market is Forecasted to Reach US$ 5.58 billion in 2025, Says Stratview Research

The global Marine Outboard Engines Market is projected to witness a growth rate of 5.8% annually from 2020 to 2025, with an anticipated size of US$ 5.58 billion in 2025, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Marine Outboard Engines Market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2025: US$ 5.58 billion
Growth (CAGR): 5.8% during 2020-2025
Forecast Period: 2020-2025
Trend Period: 2014-20218
Base Year: 2019
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Marine Outboard Engines Market:
The global Marine Outboard Engines Market is segmented based on engine power type, boat type, and region.

Based on the engine power type: Stratview has firstly segmented the market based on the engine power type as less than75 kW, 75-110 kW, 110-150 kW, and more than150 kW. less than 75kW engine power segment held a significant market share in 2019 & is likely to remain dominant in terms of unit shipments by 2025. However, the segment is likely to lose away its share to the mid-range and high-power segments, majorly in the USA and some key Western European countries.
Japan, China, Russia, and Germany are some key countries with the highest penetration of low-power engines. The majority of outboard engine demand in these countries is less than 30 kW. The less than150 kW engine power segment has been gaining a significant share in the market, especially in the USA.

Based on boat type: Our analysis based on the market segment of the boat type suggests that the fishing segment dominated the market with a significant share in 2019 & is expected to remain the dominant boat type among fishing, leisure, sailing/transport, and others.
Pontoon, center console, and multi-species boats have been gaining traction in the segment. Both saltwater and freshwater fishing are generally performed on an outboard-powered boat, which creates a huge demand for outboard engines.
To know the most attractive segments, click here: https://www.stratviewresearch.com/Request-
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that North America region is projected to remain the largest market for marine outboard engines during the forecast period. This growth outlook is majorly attributed to the following-
• The North American market is also estimated to register huge losses due to the pandemic. Despite the severely hit region, the region is projected to remain the largest market for marine outboard engines during the forecast period.
• The USA is the world's largest market for both outboard engines as well as recreational boats, with Florida being the largest single market. All the major players have a strong presence in the region to tap the huge market.
• Asia-Pacific is currently a small market but is likely to be the fastest-healing region in the market in a post-pandemic scenario. China, Australia, and Japan are key countries in the market generating considerable market demand.
• The market is registering significant changes in regional dynamics in pre-COVID and post-COVID scenarios. All regions mark a huge decline in outboard engine sales in 2020; however, EMEA is estimated to be the worst-hit region due to the pandemic.

Marine Outboard Engines Market Drivers:
Some of the key drivers listed in the report are given below.
• The population of High-Net-Worth Individuals (HNWI), i.e., individuals with great financial means, is growing rapidly. This population has a proclivity for luxury items such as recreational boats and accompanying equipment such as outboard engines. According to studies, the number of HNWIs in the world is expected to grow by 8.5% in 2023, reaching a total of 22.5 million.
• Boating accounts for ~37% share of the outdoor participants in the USA. The outdoor recreation participant base grew 2.3% in 2022 to a record 168.1 million participants or 55% of the U.S. population. Increasing outdoor recreation participants including boating participants is driving the demand for new boats as well as outboard engines.
• There is a huge shift in demand from 2-stroke to 4-stroke engines, which compelled major players to develop 4-stroke outboards that weigh and perform comparably better than the 2-stroke outboards. The increasing share of 4-stroke outboard engines is driving the overall marine outboard engines market in terms of value.
• There has been an increase in the average power of outboard engines in the past few years. This trend in demand for more powerful engines can be linked to a variety of things, including water sports and leisure activities, higher speeds, and enhanced performance.
• Growth in global marine freight transport directly affects marine outboard engines. More than 80% of global transport is done via oceans with the help of marine craft that require marine outboard engines. The marine transport industry is expected to experience substantial growth in the coming years, and so is the marine outboard engine market.

Top Companies in the Marine Outboard Engines Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• AB Volvo
• Bombardier Recreational Products Inc.
• Brunswick Corporation (Mercury Marine)
• Hidea Power Machinery Co., Ltd.
• Honda Motor Co. Inc.
• Suzuki Motor Corporation
• Suzhou Parsun Power Machine Co., Ltd.
• Tohatsu Corporation
• Yamaha Motor Co. Ltd.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Marine Outboard Engines Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
Related Reports:
• Marine Adhesives Market: https://www.stratviewresearch.com/3658/marine-adhesives-market.html
• Marine Propulsion Systems Market: https://www.stratviewresearch.com/1041/marine-propulsion-systems-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.