The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Marine Outboard Engine market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Marine Outboard Engine
This newly published and insightful report sheds light on Market Insights of Marine Outboard Engine, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Marine Outboard Engine Market.
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The report offers actionable and valuable market insights of Marine Outboard Engine. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Marine Outboard Engine Market across various industries and regions.
Maritime industry has witnessed significant changes in the past couple of years. Presently, the industry appears to be partly driven by a paradigm shift in consumer demand from cruisers to day boats. Owing to excellent versatility and ease of use, most of the small vessels are equipped with marine outboard engines. However, marine outboard engines with high end features comes with an inflated price tag, a budding challenge faced by the boat builders.
Outboard engine manufactures are capitalizing significantly on R&D endeavors to strike a perfect balance between cost and features .Although new outboard engines may be pricier than its predecessors, it typically incorporates technologies that enhance fuel economy and reduce service costs, thereby lowering the overall cost of ownership.
Owing to the multiple advantages of marine outboard engines, coupled with rapid technological advancements and growth of maritime tourism, the market is foreseen to auger well over the forecast period, reveals Fact.MR. The report estimates that the marine outboard engine market will witness a fourfold growth and reach a valuation of ~US$ 5.3 Bn by the end of 2029.
Key Takeaways of the Global Marine Outboard Engine Market
- According to Fact.MR, fishing Vessels will be the most favorable vessels for marine outboard engines, however recreational vessels will register significant growth across the forecast period.
- 30 HP to 100 HP marine outboard engines are anticipated to account for ~29% in the overall incremental value opportunity over the projection period
- Collectively, Two Stroke Direct Injection Systems and Four Stroke Carbureted engines will account for ~43% of the overall market share
- MR says that electronic ignition engines account for nearly three-fourth of the overall marine outboard engines market
- Demand for Four Stroke Electronic Fuel Injection is expected to grow 1.3X over the next decade owing to the better price to performance ratio
- North America will remain the most prominent region across the forecast period, accounting for more than 45% share of the global market.
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“A smooth introduction of newer technologies is in the interest of all countries, introduction of novel engine designs with lower emissions and improved performance and reliability will open new growth prospects for marine outboard engine manufactures”, says the Fact.MR analyst.
Product Launches, Prime Strategy for Outboard Engine Manufacturers to Lure End Users
The report reveals some of the prominent market players, including Yamaha Motors Co., Ltd., Brunswick Corporation, Suzuki Motor Corporation, Honda Motor Co., Ltd and BRP Inc. among others. Prominent marine outboard engine manufacturers are continuously focusing on product launches in order to fulfill the increasing demand from boat manufacturers. For Instance,
- In February 2018, Honda Motor Co., Ltd. redesigned and improved BF200, BF225, and BF250 V6 outboard motors with features such as Intelligent Shift and Throttle (IST) and mechanical control options which enables the operator to fine tune throttle settings at any speed
- In May 2018, Yamaha Motor, in North America announced the launch of F425A/FL425A outboard motor engine with 425 horsepower. The launch helped Yamaha to cater to the demand of high capacity (over 100HP) marine outboard engines
Adoption of policies such as single fuel concept (SFC) from Department of Defense (DOD) is also expected to coax outboard engine manufactures to launch new products.
Key Segments of the Marine Outboard Engine Market
Fact.MR’s study on the marine outboard engine market offers information divided into two key segments-power, engine, ignition, boat, across seven major regions. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
- Less than 30 HP
- 30HP to 100 HP
- Above 100 HP
- Two Stroke Carburetted
- Two Stroke Electronic Fuel Injection
- Two Stroke Direct Injection System
- Four Stroke Carburetted
- Four Stroke Electronic Fuel Injection
- Fishing Vessel
- Recreational Vessel
- Special Purpose Boats
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
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More Valuable Insights on Marine Outboard Engine Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Marine Outboard Engine, Sales and Demand of Marine Outboard Engine, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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