Outboard Engines Market Synopsis

Outboard Engines Market Size Was Valued at USD 10.7 Billion in 2023, and is Projected to Reach USD 17.5 Billion by 2032, Growing at a CAGR of 5.6% From 2024-2032.

The outboard engines therefore is that sub-sector of the marine engine market, which deals with the building and sale of propulsion equipment for boats and ships of a small to medium size. These engines are mounted outside on the transom of the boat and offer both power for the boat and a steering system that is available in two-stroke and four-stroke engines. Outboard engines are commonly used for leisure and sport activities such as boating, fishing and even commercial activities and they are fundamental components in determining the efficiency of boats.

• The outboard engines market has been growing across the globe due to the increasing adoption of boating & fishing recreation activities caused by the raise of disposable income and the growing trends of outdoor recreation. The market distinction is evident in portable, mid-ranged and high performance ones to meet the market demands. Besides, innovations in outboard engine technology that include fuel efficiency, lighter materials and technology to reduce noise are central to the improvement and further appeal of the products. This is further complimented by the growing practice of boating tourism where more people are looking for activities on water bodies which promotes the take up of outboard powered boats.
• They added that environmental concerns there directing on emissions of marine engines have also been an issue which has affected the outboard engines market in recent years. This has in turn made manufacturers to fund researches for cleaner and more efficient engines that meet these emission requirements. For instance, there is an ever increasing popularity of four-stroke engines in vehicles, which tend to have better fuel economy than the conventional two-stroke engines as far as emissions are concerned. Also, there is a clear trend to electric and hybrid boats powered outboard because consumers are conscious about the environmental issues. This is typical of a current trend within the marine industry to improve the sustainability level and lessen the impact of the outboard engines on the environment and thus forms the outboard engines market in the future.

Outboard Engines Market Trend Analysis

Growing Demand for Electric Outboard Engines

• As environmental sensitivity is increasing the further development of outboard engines is evident in electric propulsion systems. This trend is due to the desire from the consumers and manufacturers for environmentally friendly products and blended marine operations with smaller impacts on the environment. Electric outboard engines provide cleaner solutions to conventional combustion engines, with considerably less emissions and noise, thus being the perfect engines for use in environments that are sensitive, such as seas, and lakes. High-capacity batteries and innovative electric motor designs have increased the efficiency and mileage rates of electric outboard ‘engines’ making the use convenient for recreational and commercial purposes. This increased trend in the acceptance of electric powertrains is believed to continue to influence the capabilities within the next few years as more manufacturers seek to diversify their production line offerings to accommodate electric variants.

Expansion in Emerging Markets

• Outboard engines is a large untapped market mainly considering prospective boating economies, especially those, which have recently undergone the process of development. Southeast Asia, Latin America, and African markets exhibit growing disposable incomes and enthusiasm for leisure boating – they are opportunity-rich for makers and sellers. Moreover, development of tourism industry in these regions increases the demand for outboard engines as more companies probe to increase their value proposition with advanced, powerful, and reliable engines. Outboard engines, especially in the emerging market, companies that invest systematically firstly the local market, the product to local consumer preferences for adjustment, cooperation with local distributors are favorable to occupy market share and lead to the growth of the global outboard engines market.

Outboard Engines Market Segment Analysis:

Outboard Engines Market Segmented on the basis of Engine Type, Ignition Type and Fuel Type and Application.

By Engine Type, 4 - Stroke segment is expected to dominate the market during the forecast period

• In terms of types of engines, the four-stroke segment will be the market leader in the outboard engines market for the duration of the forecast period due to higher efficiency, low emission and the better operative characteristic as compared to the two-stroke types of engines. The consumers have raised their concerns over sustainability and stepped into the awareness of emissions regulation. These engines have better thermal efficiency as they deliver more power per unit of fuel burnt meaning cost of using the engines will be less in the long run.
• In developments of the 4-Stroke engine type, better fuel injection systems have been introduced, coupled with stronger and lighter materials used on the engines, increasing on their reliability, durability thus making them favorable to recreational as well as commercial users of boats. Over time, consumers have become environmentally conscious and are always on the lookout for cheaper replacement parts, making the 4-Stroke segment to have a larger market share due to the calls for high performance outboard engines that are environmentally friendly.

By Ignition Type, Electric segment expected to held the largest share

• The Electric ignition segment should remain the most consumed outboard engines’ segment in the coming years, owing to the growing consumer preference for environment-friendly and efficient boating solutions. The consciousness of the environmental problems enhances the trend of getting the outboard motors that are not powered by fossil fuels; this results in increased demand for electric outboard motors. The advantages of electric engines are several for instance; the lack of exhaust gases, low noise, and low operational costs, which could see them find applicability over sensitive marine regions and the inner city water channels.
• Technological refinements on batteries and charging systems have enhanced the feasibility of electric outboard engines because of extended operating distances and quicker recharging opportunities. Moreover, the incentives and regulation to use cleaner energy sources for ships catalyse the shift towards electric propulsion in the marine industry approach by many global governments. Therefore, it can be stated that the segment of electric ignition is expected to have the biggest share in the market and become one of the leaders in promoting environmentally-friendly boating.

Outboard Engines Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• According to the analysis in current year 2023, North America region captured maximum market share of outboard engines which was nearly 40% of total market share.. These factors can attributed to factors such as well developed marine market, high number of recreational users, and the presence of important manufacturers from the region. In particular the USA remains a critical marker for this industry, given the large number of people who engage in boating as a form of recreation within the large volume of water bodies including lakes, rivers, and coasts across the country. The strong base for water activities supported by increasing customers’ desire for high-performance engines makes North America a dominant market. Also, consumers in the region seek innovation and technology advancement in the marine propulsion systems whereby the region inclines on teaching and learning new innovation breakthrough in outboard engine performance and efficiency.

Active Key Players in the Outboard Engines Market

• Bombardier Recreational Products (Canada)
• BRP Inc. (Canada)
• Changzhou Jinling Motor (China)
• Evinrude (USA)
• Honda Motor Co., Ltd. (Japan)
• Mercury Marine (USA)
• Mercury Marine (USA)
• Middle River Marine (USA)
• OXE Marine AB (Sweden)
• Parsun Outboard Motors (China)
• Selva Marine (Italy)
• Suzuki Motor Corporation (Japan)
• Tohatsu Corporation (Japan)
• Volvo Penta (Sweden)
• Yamaha Motor Co., Ltd. (Japan)
• Other key Players

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Outboard Engines Market by Engine Type
 4.1 Outboard Engines Market Snapshot and Growth Engine
 4.2 Outboard Engines Market Overview
 4.3 2 – Stroke
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 2 – Stroke: Geographic Segmentation Analysis
 4.4 4 - Stroke
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 4 - Stroke: Geographic Segmentation Analysis

Chapter 5: Outboard Engines Market by Ignition Type
 5.1 Outboard Engines Market Snapshot and Growth Engine
 5.2 Outboard Engines Market Overview
 5.3 Electric
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Electric: Geographic Segmentation Analysis
 5.4 Manual
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Manual: Geographic Segmentation Analysis

Chapter 6: Outboard Engines Market by Fuel Type
 6.1 Outboard Engines Market Snapshot and Growth Engine
 6.2 Outboard Engines Market Overview
 6.3 Diesel
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Diesel: Geographic Segmentation Analysis
 6.4 Gasoline
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Gasoline: Geographic Segmentation Analysis
 6.5 Electric
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Electric: Geographic Segmentation Analysis

Chapter 7: Outboard Engines Market by Application
 7.1 Outboard Engines Market Snapshot and Growth Engine
 7.2 Outboard Engines Market Overview
 7.3 Commercial
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Commercial: Geographic Segmentation Analysis
 7.4 Recreational
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Recreational: Geographic Segmentation Analysis
 7.5 Military
  7.5.1 Introduction and Market Overview
  7.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.5.3 Key Market Trends, Growth Factors and Opportunities
  7.5.4 Military: Geographic Segmentation Analysis

Chapter 8: Company Profiles and Competitive Analysis
 8.1 Competitive Landscape
  8.1.1 Competitive Benchmarking
  8.1.2 Outboard Engines Market Share by Manufacturer (2023)
  8.1.3 Industry BCG Matrix
  8.1.4 Heat Map Analysis
  8.1.5 Mergers and Acquisitions
  
 8.2 BOMBARDIER RECREATIONAL PRODUCTS
  8.2.1 Company Overview
  8.2.2 Key Executives
  8.2.3 Company Snapshot
  8.2.4 Role of the Company in the Market
  8.2.5 Sustainability and Social Responsibility
  8.2.6 Operating Business Segments
  8.2.7 Product Portfolio
  8.2.8 Business Performance
  8.2.9 Key Strategic Moves and Recent Developments
  8.2.10 SWOT Analysis
 8.3 BRP INC.
 8.4 CHANGZHOU JINLING MOTOR
 8.5 EVINRUDE
 8.6 HONDA MOTOR CO.
 8.7 LTD.
 8.8 MERCURY MARINE
 8.9 MIDDLE RIVER MARINE
 8.10 OXE MARINE AB
 8.11 PARSUN OUTBOARD MOTORS
 8.12 SELVA MARINE
 8.13 SUZUKI MOTOR CORPORATION
 8.14 TOHATSU CORPORATION
 8.15 VOLVO PENTA
 8.16 YAMAHA MOTOR CO.
 8.17 LTD.
 8.18 OTHER KEY PLAYERS

Chapter 9: Global Outboard Engines Market By Region
 9.1 Overview
 9.2. North America Outboard Engines Market
  9.2.1 Key Market Trends, Growth Factors and Opportunities
  9.2.2 Top Key Companies
  9.2.3 Historic and Forecasted Market Size by Segments
  9.2.4 Historic and Forecasted Market Size By Engine Type
  9.2.4.1 2 – Stroke
  9.2.4.2 4 - Stroke
  9.2.5 Historic and Forecasted Market Size By Ignition Type
  9.2.5.1 Electric
  9.2.5.2 Manual
  9.2.6 Historic and Forecasted Market Size By Fuel Type
  9.2.6.1 Diesel
  9.2.6.2 Gasoline
  9.2.6.3 Electric
  9.2.7 Historic and Forecasted Market Size By Application
  9.2.7.1 Commercial
  9.2.7.2 Recreational
  9.2.7.3 Military
  9.2.8 Historic and Forecast Market Size by Country
  9.2.8.1 US
  9.2.8.2 Canada
  9.2.8.3 Mexico
 9.3. Eastern Europe Outboard Engines Market
  9.3.1 Key Market Trends, Growth Factors and Opportunities
  9.3.2 Top Key Companies
  9.3.3 Historic and Forecasted Market Size by Segments
  9.3.4 Historic and Forecasted Market Size By Engine Type
  9.3.4.1 2 – Stroke
  9.3.4.2 4 - Stroke
  9.3.5 Historic and Forecasted Market Size By Ignition Type
  9.3.5.1 Electric
  9.3.5.2 Manual
  9.3.6 Historic and Forecasted Market Size By Fuel Type
  9.3.6.1 Diesel
  9.3.6.2 Gasoline
  9.3.6.3 Electric
  9.3.7 Historic and Forecasted Market Size By Application
  9.3.7.1 Commercial
  9.3.7.2 Recreational
  9.3.7.3 Military
  9.3.8 Historic and Forecast Market Size by Country
  9.3.8.1 Bulgaria
  9.3.8.2 The Czech Republic
  9.3.8.3 Hungary
  9.3.8.4 Poland
  9.3.8.5 Romania
  9.3.8.6 Rest of Eastern Europe
 9.4. Western Europe Outboard Engines Market
  9.4.1 Key Market Trends, Growth Factors and Opportunities
  9.4.2 Top Key Companies
  9.4.3 Historic and Forecasted Market Size by Segments
  9.4.4 Historic and Forecasted Market Size By Engine Type
  9.4.4.1 2 – Stroke
  9.4.4.2 4 - Stroke
  9.4.5 Historic and Forecasted Market Size By Ignition Type
  9.4.5.1 Electric
  9.4.5.2 Manual
  9.4.6 Historic and Forecasted Market Size By Fuel Type
  9.4.6.1 Diesel
  9.4.6.2 Gasoline
  9.4.6.3 Electric
  9.4.7 Historic and Forecasted Market Size By Application
  9.4.7.1 Commercial
  9.4.7.2 Recreational
  9.4.7.3 Military
  9.4.8 Historic and Forecast Market Size by Country
  9.4.8.1 Germany
  9.4.8.2 UK
  9.4.8.3 France
  9.4.8.4 Netherlands
  9.4.8.5 Italy
  9.4.8.6 Russia
  9.4.8.7 Spain
  9.4.8.8 Rest of Western Europe
 9.5. Asia Pacific Outboard Engines Market
  9.5.1 Key Market Trends, Growth Factors and Opportunities
  9.5.2 Top Key Companies
  9.5.3 Historic and Forecasted Market Size by Segments
  9.5.4 Historic and Forecasted Market Size By Engine Type
  9.5.4.1 2 – Stroke
  9.5.4.2 4 - Stroke
  9.5.5 Historic and Forecasted Market Size By Ignition Type
  9.5.5.1 Electric
  9.5.5.2 Manual
  9.5.6 Historic and Forecasted Market Size By Fuel Type
  9.5.6.1 Diesel
  9.5.6.2 Gasoline
  9.5.6.3 Electric
  9.5.7 Historic and Forecasted Market Size By Application
  9.5.7.1 Commercial
  9.5.7.2 Recreational
  9.5.7.3 Military
  9.5.8 Historic and Forecast Market Size by Country
  9.5.8.1 China
  9.5.8.2 India
  9.5.8.3 Japan
  9.5.8.4 South Korea
  9.5.8.5 Malaysia
  9.5.8.6 Thailand
  9.5.8.7 Vietnam
  9.5.8.8 The Philippines
  9.5.8.9 Australia
  9.5.8.10 New Zealand
  9.5.8.11 Rest of APAC
 9.6. Middle East & Africa Outboard Engines Market
  9.6.1 Key Market Trends, Growth Factors and Opportunities
  9.6.2 Top Key Companies
  9.6.3 Historic and Forecasted Market Size by Segments
  9.6.4 Historic and Forecasted Market Size By Engine Type
  9.6.4.1 2 – Stroke
  9.6.4.2 4 - Stroke
  9.6.5 Historic and Forecasted Market Size By Ignition Type
  9.6.5.1 Electric
  9.6.5.2 Manual
  9.6.6 Historic and Forecasted Market Size By Fuel Type
  9.6.6.1 Diesel
  9.6.6.2 Gasoline
  9.6.6.3 Electric
  9.6.7 Historic and Forecasted Market Size By Application
  9.6.7.1 Commercial
  9.6.7.2 Recreational
  9.6.7.3 Military
  9.6.8 Historic and Forecast Market Size by Country
  9.6.8.1 Turkey
  9.6.8.2 Bahrain
  9.6.8.3 Kuwait
  9.6.8.4 Saudi Arabia
  9.6.8.5 Qatar
  9.6.8.6 UAE
  9.6.8.7 Israel
  9.6.8.8 South Africa
 9.7. South America Outboard Engines Market
  9.7.1 Key Market Trends, Growth Factors and Opportunities
  9.7.2 Top Key Companies
  9.7.3 Historic and Forecasted Market Size by Segments
  9.7.4 Historic and Forecasted Market Size By Engine Type
  9.7.4.1 2 – Stroke
  9.7.4.2 4 - Stroke
  9.7.5 Historic and Forecasted Market Size By Ignition Type
  9.7.5.1 Electric
  9.7.5.2 Manual
  9.7.6 Historic and Forecasted Market Size By Fuel Type
  9.7.6.1 Diesel
  9.7.6.2 Gasoline
  9.7.6.3 Electric
  9.7.7 Historic and Forecasted Market Size By Application
  9.7.7.1 Commercial
  9.7.7.2 Recreational
  9.7.7.3 Military
  9.7.8 Historic and Forecast Market Size by Country
  9.7.8.1 Brazil
  9.7.8.2 Argentina
  9.7.8.3 Rest of SA

Chapter 10 Analyst Viewpoint and Conclusion
10.1 Recommendations and Concluding Analysis
10.2 Potential Market Strategies

Chapter 11 Research Methodology
11.1 Research Process
11.2 Primary Research
11.3 Secondary Research