Press release
A Deep Dive into Outboard Engines Market 2025: Key Drivers, Growth Factors, and Projections 2025-2034
Outboard Engines
The growth of the outboard engine market is predicted to be driven by the increasing production and sales of yachts. Yachts, which can refer to large sailboats or motorboats used for racing or leisurely cruising, frequently use outboard engines due to their simplicity and ease of mounting. In May 2023, according to the National Marine Manufacturers Association, a US-based association in 2022, there were over 260,000 new boats and over one million pre-owned boats sold in the US recreational boating industry. Roughly 95% of the 12 million registered boats in the U.S. are shorter than 26 feet. As a result, the escalating production and sales of yachts are expected to fuel the outboard engine market.
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How will the growth rate of the outboard engines market shape industry trends by 2034?
In recent times, there has been a robust growth in the outboard engines market size. The market will progress from a value of $9.84 billion in 2024 to an approximate worth of $10.35 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.2%. The significant elevation in the previous period can be credited to factors such as the rise in boating and leisure activities, the expansion of the fishing industry, marine tourism developments, augmentation of the boat manufacturing industry, and the impact of economic contributors and available discretionary income.
The market for outboard engines is projected to witness considerable expansion over the upcoming years, scaling up to $13.5 billion by 2029 at a compound annual growth rate (CAGR) of 6.9%. The growth predicted for this period is due to factors such as the move towards electrifying marine propulsion, strict emission regulations, increased popularity of water sports, a surge in demand for small boats, and worldwide growth in boating culture. Some dominant trends forecasted for this period include the evolution and adoption of smart, connected technologies, technological advancements, incorporation of sophisticated technologies, an increased emphasis on eco-friendly engines, and a shift towards electric and hybrid propulsion.
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What are the most significant trends transforming the outboard engines market today?
Major firms in the outboard engine market are prioritizing the creation of innovative products, such as advanced outboard engines, to improve performance and the customer experience. Additionally, these companies are committed to sustainable practices, utilizing recyclable materials and environment-friendly manufacturing processes. An outboard engine, which combines an engine and gearbox in one external unit at the rear of a boat, is easy to maintain and versatile for a variety of vessels. For example, Georgia-based Honda Marine introduced the BF350 outboard engine in October 2023. The Honda BF350 engine, delivering 350 horsepower and furnished with leading-edge technologies like VTEC and BLASTTM, ensures high performance and fuel economy for larger vessels. Crafted for dependability and convenience, it is well-suited for both leisure and business use.
Which key market segments comprise the outboard engines market and drive its revenue growth?
The outboard engines market covered in this report is segmented -
1) By Type: Fuel-Oil Outboard, Electric Outboard
2) By Engine Type: 2-Stroke, 4-Stroke, Electric
3) By Application: Personal Boat, Commercial Boat, Government Enforcement Boat, Other Applications
Subsegments:
1) By Fuel-Oil Outboard: Two-Stroke Engines, Four-Stroke Engines
2) By Electric Outboard: Battery-Powered, Solar-Powered
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What regions are at the forefront of outboard engines market expansion?
North America was the largest region in the outboard engines market in 2024. The regions covered in the outboard engines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the outboard engines market?
Major companies operating in the outboard engines market include Honda Motor Co Ltd., Volvo Penta, Suzuki Motor Corporation, Yamaha Motor Co Ltd., Brunswick Corporation, Mercury Marine, Torqeedo GmbH, Lehr LLC, Oxe Marine AB, Cox Powertrain Ltd., Hidea Power Machinery Co Ltd., Golden Motor Technology Co Ltd., Mudd Hog Mud Motors LLC, Parsun Power Machine Co Ltd., Powertec Outboards, Tohatsu Corporation, Evinrude Outboard Motors, Selva Marine S.p.A., Suzhou Sail Motor Co Ltd., SeaProp 60 Outboard Motors, Mikatsu Marine Outboards, Ray Electric Outboards, Zongshen Selva Marine Co Ltd., Aquawatt Electric Outboards, Pioneer Engines, Minn Kota Motors, Seven Marine LLC
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What Is Covered In The Outboard Engines Global Market Report?
•Market Size Forecast: Examine the outboard engines market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the outboard engines market for a structured understanding.
•Key Players Overview: Analyze major players in the outboard engines market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the outboard engines market.
•Segment Contributions: Evaluate how different segments drive overall growth in the outboard engines market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the outboard engines market.
•Industry Challenges: Identify potential risks and obstacles affecting the outboard engines market.
•Competitive Landscape: Review strategic developments in the outboard engines market, including expansions, agreements, and new product launches.
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