Outboard Engines Market Landscape 2025: Forecast Data and Growth Strategy Insights

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Outboard Engines Market Size Growth Forecast: What to Expect by 2025?
The size of the outboard engines market has seen significant growth over the past few years. It is projected to increase from $9.84 billion in 2024 to $10.35 billion in 2025, with a compound annual growth rate (CAGR) of 5.2%. The historic period's growth is a result of various factors including an increase in boating and recreational activities, the growth of the fishing industry, the expansion of marine tourism, development in the boat manufacturing industry, as well as wider economic factors and disposable income.

How Will the Outboard Engines Market Size Evolve and Grow by 2029?
In the upcoming years, the market for outboard engines is projected to experience substantial growth, with its worth reaching $13.5 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.9%. This anticipated growth in the forecast period could be due to factors such as the electrification of marine propulsion, strict emission rules, increasing popularity of water sports, escalating needs for small boats, and the worldwide growth of boating culture. The forecast period is also expected to witness major trends like smart and connected technologies, technological advancements, the incorporation of sophisticated technology, a higher demand for eco-friendly engines, along with a shift towards electric and hybrid propulsion.

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What Drivers Are Propelling the Growth of Outboard Engines Market Forward?
The outboard engine market is anticipated to expand as a result of the increasing manufacturing and sales of yachts. Yachts are large sailboats or motorboats used for racing or pleasure excursions, and outboard engines are widely employed for their propulsion due to their simplicity and ease of installation. For instance, as reported by the National Marine Manufacturers Association in May 2023, over 260,000 new boats and more than one million second-hand boats were sold by the U.S. recreational boating industry in 2022. About 95% of the 12 million boats registered in the U.S. measure less than 26 feet in length. Hence, the escalating production and sales of yachts will fuel the growth of the outboard engine market.

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Which Emerging Trends Are Transforming the Outboard Engines Market in 2025?
Major businesses in the outboard engine market are concentrating their efforts on the creation of innovative products such as outboard engines to boost performance and user interactions. They also emphasize sustainability by utilizing recyclable materials and promoting environmentally friendly production methods. An outboard engine is a propulsion device externally mounted on the back of a boat, that combines the engine and gearbox into a single unit, providing straightforward maintenance and adaptability for a range of vessels. For instance, in October 2023, the Georgia-based Honda Marine launched the BF350 outboard engine. This engine delivers 350 horsepower and incorporates cutting-edge technologies like VTEC and BLAST, ensuring robust performance and fuel efficiency for larger boats. With design considerations for dependability and ease of use, it's perfect for both leisure and commercial usage.

What Are the Key Segments in the Outboard Engines Market?
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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Who Are the Key Players Shaping the Outboard Engines Market's Competitive Landscape?
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

What Geographic Markets Are Powering Growth in the Outboard Engines Market?
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.

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