Global Small Marine Engines Market Expansion at 5.2% CAGR, Valued at $10.62 Billion by 2029

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What Are the Small Marine Engines Market Size Forecast for 2025?
The market size of small marine engines has experienced substantial growth in the latest years. The market is predicted to rise from $8.22 billion in 2024 to $8.67 billion in 2025, displaying a compound annual growth rate (CAGR) of 5.4%. Factors contributing to this growth during the historical period include a surge in leisure travel, government regulations, replacement markets, trends in boat manufacturing, economic prosperity, and advancements in fuel efficiency.

What Is the Market Size Outlook for Small Marine Engines Until 2029?
Anticipations suggest that the market for small marine engines is likely to experience significant expansion in the near future, with its worth projected to reach $10.62 billion in 2029, escalating at a compound annual growth rate (CAGR) of 5.2%. This predicted growth in the forthcoming period can be accredited to an increase in disposable income, the transition to electric propulsion, the worldwide growth of the fishing industry, commitment to environmental sustainability, urbanization and marina development, as well as the impact of climate change. Predominant trends during this period are expected to include the incorporation of cutting-edge technologies, the growing trend towards electric propulsion, market coalescence, and strategic partnerships, the influence of global economic factors, and the demand for customization and individuality.

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What Are the Major Factors Driving Demand in the Small Marine Engines Market?
The upward trend in fishing activities is anticipated to fuel the small marine engines market in the future. Fishing encompasses any action directly linked with the procurement or refining of fish or shellfish for initial commercial transactions or personal nutritional requirements. The mounting sales of small to medium-sized boats for fishing and recreational activities are expected to boost the utilization of outboard engines. For example, the Food and Agriculture Organization, a United Nations agency based in Canada, predicts an increase of 0.6% in annual fisheries and aquaculture output in 2023 over 2022 levels, reaching 185 million tonnes. Consequently, the surge in fishing activities is stimulating the demand in the small marine engines market.

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How Are End-Use Segments Shaping the Small Marine Engines Market Outlook?
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

What Are the Strategic Trends Transforming the Small Marine Engines Market Landscape?
Advances in technology are becoming an increasingly prominent trend in the small marine engines market. Key players in this market are concentrated on creating innovative technologies and investing in research and development, to maintain a competitive advantage in the market. For example, Wartsila Corporation, a company based in Finland specializing in the manufacture of small marine engines, introduced the Wartsila 25 engine in September 2022. This new multi-fuel maritime engine can operate on alternative liquid or gaseous fuels, including ammonia. When fuelled by diesel, it can incorporate a NOx abatement system that enables it to fully adhere to IMO Tier III regulations on NOx emissions. This engine marks a substantial progression toward the maritime industry's decarbonisation goals, signalling the advent of a new generation of medium-speed, small-bore engines that are ready for the future. The Wartsila 25 meets every requirement. It's a small but powerful engine with the flexibility to accommodate new fuels, positioning it as a forward-looking investment.

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Who Are the Prominent Companies in the Small Marine Engines Market by ?
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.

Which Region Is Expected to See the Highest CAGR 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.

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