Marine Outboard Engines Market: Introduction
Marine outboard engine or outboard motor is a propulsion device housed within a single enclosure utilized in marine applications such as small and medium sized boats. These engines are usually fixed at the stern of the boat with a single fixing bracket enabling it to swivel around a single fixed point. Marin outboard engines serve the dual purpose of generating thrust and manoeuvrability on a boat. Ease of maintenance, cheap cost, durability, easy installation among others are some of the important attributes associated with the growing popularity of marine outboard engines among the boat manufacturers and is anticipated to grow even further in the upcoming years.
Marine Outboard Engines Market Dynamics
The dynamics associated with the marine outboard engines market primarily depends on the demand for small to medium sized boats. With improved activities witnessed in fishing, local transportation, waterway security, leisure, among others, the sales of boats and other small sized water vessels has witnessed a remarkable growth in recent years. Boat manufacturers are venturing more into building specific type of boats for specific application and price points which can be pivotal for the rise in sales of marine outboard engines. Renewed interest in coastal tourism activities in the developed economies of North American and European region has fuelled the sales of boat along the coastal thereby aiding in the growth of the market. Manufacturers involved in producing such outboard engines are constantly engaged in innovating their product portfolio to gain an edge over other competitors and improve market share. Improved fuel efficiency, performance, longevity, power-to-weight ratio among others are some of the attributes where manufacturers constantly strive to improve.
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Though marine outboard engines market is anticipated to witness a healthy growth in the upcoming years, absolute growth in terms of both value and volume is restrained by the slow rise in popularity of other type of propulsion system which includes stern drives engines and inboard engines. Other low impact restraints acting as a roadblock includes lack of well-established supply chain and availability of top notch maintenance providers
Marine Outboard Engines Market: Segmentation
Marine Outboard Engines Market can be segmented as follows;
By product type, the Marine Outboard Engines market can be segmented as:
- Two Stroke Engine
- Four Stroke Engine
By Fuel type, the market can be segmented as:
- Petrol Engine
- Diesel Engine
By Power output, the market can be segmented as:
- Less than 50 HP
- 51 to 150 HP
- More than 151 HP
By Steering Mechanism, the market can be segmented as:
- Tiller Mechanism
- Non-Tiller Mechanism
Marine Outboard Engines Market: Regional Outlook
Marine outboard engines market from a global perspective shows a slight contrasting relevance. The market in the North American and European region is anticipated to flourish on a longer run owing to high demand for small personal boats and medium sized boats from the consumers. In addition to its utilization for leisure activities, outboard engine boats are also used for fishing and security purposes as well. The market in the Asia Pacific region is anticipated to hold a slightly lower position than the North American and the European markets owing to low disposable income among the consumers. Hence, low powered outboard engines is expected to hold the highest market in this region due to cost constraints. The marine outboard engines market in the Latin American region is anticipated for a healthy growth due to the presence of usable waterways while the Middle East and African market is poised for a stagnant growth due to unchanged demand for small sized boats.
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Marine Outboard Engines Market: Market Participants
Examples of some of the major players in the Global Marine Outboard Engines market, identified across the value chain include:
- Yamaha Motor Company Ltd.
- Suzuki Motor Corporation
- Honda Motor Co., Ltd.
- Tohatsu America Corp.
- Mudd Hog Mud Motors, LLC
- Brunswick Corporation
- Evinrude Outboard Motors
- Torqeedo GmbH
- Seven Marine LLC
- Powertec Group
- Lehr LLC
- Hidea Power Machinery Co., Ltd.
- Elco Motor Yachts, LLC
- Cox Powertrain Ltd.
- Parsun Power Machine