Outboard Boats Market Expected to Achieve 9.4% CAGR by 2029: Growth Forecast Insights

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How Large Will the Outboard Boats Market Size By 2025?
The market size for outboard boats has experienced robust growth in the past few years. It is projected to expand from $6.2 billion in 2024 to $6.75 billion in 2025, with a compound annual growth rate (CAGR) of 8.9%. Factors such as consumer preferences, boating regulations, environmental issues, improvements in boating infrastructure, and cultural changes have contributed to the surge in growth during the historic period.

How Big Is the Outboard Boats Market Size Expected to Grow by 2029?
Expectations are high for the outboard boats market to experience robust growth in the coming years, with projections suggesting it will reach a value of $9.68 billion in 2029, reflecting a compound annual growth rate (CAGR) of 9.4%. This growth during the forecast period is predicted to be driven by several factors such as the integration of safety features, an increase in disposable income, the emergence of online sales channels, adoption of electric propulsion, and a boom in boating tourism. The time frame also anticipates key trends like the adoption of hybrid and electric propulsion, the preference for modular and customizable design, the rise of autonomous and assisted navigation, luxury and high-performance segments, and enhanced connectivity.

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Which Key Market Drivers Powering Outboard Boats Market Expansion and Growth?
The boom in leisure activities is anticipated to fuel the outboard boat market's expansion in the future. Leisure activities refer to any indoor or outdoor pursuits undertaken during free time for exercise, relaxation, and enjoyment. Outboard boats are gaining in appeal amongst water sports enthusiasts and those seeking relaxation due to their versatility, ease of use, and cost-effectiveness. For example, in 2023, the Outdoor Foundation, a US-based organization, reported that the participant count in outdoor leisure activities rose by 2.3% in 2022, reaching an unprecedented 168.1 million people, making up 55% of the U.S. population aged six and above. Therefore, the rise in the popularity of leisure activities is pushing forward the growth of the outboard boat market.

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Which Fast-Growing Trends Are Poised to Disrupt the Outboard Boats Market?
One significant trend that is gaining traction in the outboard boat market is the utilization of advanced technologies. The primary companies in the outboard boat market are directing their efforts towards creating innovative solutions to fortify their market presence. For instance, Honda Marine, a marine engine manufacturer based in Japan, unveiled its first commercially available V8 outboard motor, the BF350, at the Genoa International Boat Show in September 2023. This potent motor is specially engineered to offer improved performance for large boats, with enhanced torque, acceleration, and top-end speed. The BF350 also incorporates advanced cooling and anti-corrosion technology, guaranteeing durability and reliability for marine operations.

What Are the Emerging Segments in the Outboard Boats Market?
The outboard boats market covered in this report is segmented -

1) By Type: Recreational Boats, Rigid Inflatable Boats, Small Utility Boats
2) By Application: Tourism, Water Sport, Commercial Activity, Leisure Activity
3) By End User: Fishing, Water Taxi, Transportation, Hospitality Business

Subsegments:
1) By Recreational Boats: Fishing Boats, Ski Or Wakeboard Boats, Pleasure Cruisers, Pontoon Boats, Rigid Inflatable Boats (RIBs)
2) By Rigid Inflatable Boats (RIBs): Small RIBs, Medium RIBs, Large RIBs
3) By Small Utility Boats: Jon Boats, Dinghies, Flat Bottom Boats, Canoes And Kayaks

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Who Are the Global Leaders in the Outboard Boats Market?
Major companies operating in the outboard boats market include Brunswick Corporation, Campion marine Inc., Cantieri Capilli SRL, Groupe Beneteau, Polaris Inc., Poseidon Boats, White River Marine Group, Nimbus Group, Marine Products Corporation, Ribcraft Ltd., Scout Boats, Seaark LLC, Stingray Boats, Zodiac Milpro Inc., Ferretti Group, Tracker Boats, Bravia Yachtbau, Yamaha Motor Co. Ltd., Malibu Boats Inc., MasterCraft Boat Holdings Inc., Bass Cat Boats, Chaparral Boats Inc., Cobalt Boats, Crownline Boats, Grady-White Boats Inc., Hewescraft, Cruisers Yachts, Lowe Boats, Lund Boat Company Inc., NauticStar Boats, Regal Boats, Robalo Boats, Skeeter Products Inc., Sportsman Boats Manufacturing Inc., Starcraft Marine LLC, Stratos Boats, Sylvan Marine, Fisherman's Boat Group Inc.

Which are the Top Profitable Regional Markets for the Outboard Boats Industry?
North America was the largest region in the outboard boat market in 2024. Asia-Pacific is expected to be the fastest-growing region in the outboard boat market report during the forecast period. The regions covered in the outboard boats market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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