Global Outboard Engines Market Is Estimated To Witness Significant Growth Owing To Growing Demand For Recreational Boating

Outboard Engines Market
Outboard Engines Market

Overview:

Outboard engines are used for a variety of purposes, including fishing, cruising and watersports. They also have the advantage of providing greater torque than other propulsion types, which can increase a boat’s speed and propeller pitch. Outboard engines are self-contained units, consisting of the engine and propeller, mounted on the transom at the back of the boat. They have a reputation for being easy to maintain, and are popular among recreational boaters because they can be easily removed for servicing and winterization.

The engine of an outboard motor is housed in a water-tight, protective housing that protects the motor from the elements. When the engine is running, it generates a high-temperature and pressure gas in its cylinder, which then powers the propeller to do mechanical work. The propeller’s rotational energy is then converted into the boat’s forward motion by the gearbox and transmission.

Market Dynamics:

Increasing product launches are estimated to augment growth of the global Outboard Engines Market during the forecast period. For instance, two new 25 hp and 30 hp four-stroke outboards were introduced by Mercury in Amy 2022. These are equipped with the 3-cylinder powerhead. Moreover, growing implementation of strict environmental regulations and rising cost of ownership are anticipated to restrain growth of the global outboard engines for market during the forecast period.

Impact of COVID-19:

The pandemic was first reported in 2019. This outbreak had severe impact on many nations globally. The pandemic hampered growth of several sectors across the world. Many industries were shut downs temporarily and many were forced to shift to remote working. This had a huge impact on the sectors like automobiles, electronics, semiconductors and many more.

During the pandemic many strict regulations were impose din many countries like nationwide lockdowns and social distancing. These regulations led to shutting down manufacturing activates in many nations. Social gatherings and recreational activities were also banned. This led to decrease in demand for outboard engines. Thus, the pandemic hampered the growth of the global Outboard Engines Market.

Key Takeaways:

The global outboard engines for market is expected to witness high growth, exhibiting CAGR of 3.79 % over the forecast period, due to increasing acquisitions by key players. For instance, Siren Marine was acquired by Yamaha Motor, in December 2021. The acquisition is aiming to promote the company’s technological development for personal watercraft, and outboard-powered boats.

North America is anticipated to witness significant growth in the global Outboard Engines Market during the forecast period, due to growing popularity of recreational activities like sailing, powerboat racing and growing disposable incomes.

Key players operating in the global outboard engines for market are Kräutler Elektromaschinen, Cox Marine, Brunswick Corporation, Elco Motor Yachts, Deutz AG, Golden Motor Technology Co., Ltd., YANMAR HOLDINGS CO., LTD, BRP, Yamaha Motor Co., Ltd, Honda Motor Co., Ltd, AB Volvo, RAI Amsterdam, Yongkang Longxiao Industry, Mercury Marine, Powertec Supplies (I) Pvt. Ltd, and Golden Motor Technology Co., Ltd.

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