Small Marine Engines Market Size Forecasted To Achieve $10.76 Billion By 2029 With Steady Growth

The Small Marine Engines Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Small Marine Engines Market Size and Projected Growth Rate?
In the past few years, the market size of small marine engines has shown significant growth. The market, which is predicted to increase from $8.22 billion in 2024 to $8.71 billion in 2025, is set to register a compound annual growth rate (CAGR) of 6.0%. The rise observed during the historic period can be associated with factors such as heightened leisure travel, government policies, the replacement market, boat manufacturing trends, economic well-being, and advancements in fuel efficiency.

The market size for small marine engines is projected to experience robust growth in the upcoming years, expanding to $10.76 billion in 2029 with a compound annual growth rate (CAGR) of 5.4%. Various factors, such as higher disposable income, transition towards electric propulsion, global growth in the fishing sector, considerations for environmental sustainability, development of urban areas and marinas, and the effects of climate change, will contribute to this expansion during the forecast period. The period also expects to see key trends like the incorporation of cutting-edge technologies, growing favour towards electric propulsion, consolidation of the market and strategic partnerships, influences of global economic factors, and customisation and personalisation.

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What Are the Major Segments in the Small Marine Engines Market?
The small marine engines market covered in this report is segmented -

1) By Model: Gasoline, Diesel, Electric
2) By Displacement: Up To 2 L, 2-4 L, 4-6 L
3) By Placement: Outboard, Inboard, Other Placements
4) By Application: Recreational Boats, Support Vessels, Coastal Boats, Fishing Boats, Other Applications

Subsegments:
1) By Gasoline: Two-Stroke Engines, Four-Stroke Engines
2) By Diesel: Inboard Diesel Engines, Outboard Diesel Engines
3) By Electric: Battery-Powered Engines, Hybrid Engines

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What Are The Driving Small Marine Engines Market Evolution?
The small marine engines market is anticipated to gain traction owing to escalating fishing activities. Fishing, which encompasses any action directly related to the procurement or processing of fish or shellfish for the first commercial transaction or personal nutritional requirements, is expected to drive the demand for outboard engines. This is facilitated by the growing sales of small and medium-sized boats used for fishing and recreation. For example, a Canada-based UN agency, the Food and Agriculture Organization, predicts that the annual output of fisheries and aquaculture will reach 185 million tons in 2023, marking a 0.6% rise from 2022. As such, the surge in fishing activities is fuelling the expansion of the small marine engines market.

Which Firms Dominate The Small Marine Engines Market Segments?
Major companies operating in the small marine engines market are Yamaha Motor Co. Ltd., Honda Motor Co. Ltd., Brunswick Corporation, Suzuki Motor Corporation, Tohatsu Corporation, Bombardier Recreational Products Inc., Volvo Group, Bombardier Recreational Products Inc., Nissan Motor Co. Ltd., Marine Power LLC, Kohler Co., Honda Motor Co. Ltd., Cummins Inc., Westerbeke Corporation, Yanmar Co. Ltd., Johnson Outdoors Inc., Seatek S.r.l., Brunswick Corporation, Torqeedo GmbH, Gason Pty Ltd., Bombardier Recreational Products Inc., Selva Marine S.p.A., ZF Friedrichshafen AG, JCB Ltd.

What Trends Are Expected to Dominate the Small Marine Engines Market in the Next 5 Years?
The rise of technological advances plays a crucial role in driving the trending direction of the small marine engines market. Major market players are keen on creating innovating tech solutions, as well as undertaking research and developments, to gain a unique advantage over their competitors. For example, in September 2022, Wartsila Corporation, a manufacturer of small marine engines based in Finland, revealed their new multi-fuel marine engine labeled the Wartsila 25. This engine, which can function on either liquid or gas-based alternative fuels including ammonia, is equipped with a NOx reduction system for diesel fuel that meets the IMO Tier III regulations for NOx emissions. This significant development supports the seafaring industry's decarbonization goals and paves the way for future-proofed, medium-speed, small-bore engines. The Wartsila 25 covers all bases. Its compact but robust design allows for an easy transition to new fuels, positioning it as a forward-thinking investment.

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Which Is The Largest Region In The Small Marine Engines Market?
North America was the largest region in the small marine engines market in 2024. Asia-Pacific is expected to be the fastest-growing region in the small marine engines market report during the forecast period. The regions covered in the small marine engines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Small Marine Engines Market?
2. What is the CAGR expected in the Small Marine Engines Market?
3. What Are the Key Innovations Transforming the Small Marine Engines Industry?
4. Which Region Is Leading the Small Marine Engines Market?

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