Dublin, July 30, 2024 (GLOBE NEWSWIRE) — The “Outboard Motors – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Outboard Motors was valued at an estimated US$5.0 Billion in 2023 and is projected to reach US$6.1 Billion by 2030, growing at a CAGR of 2.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the outboard motor market is driven by several factors including increased participation in boating activities, economic growth in key markets, and technological advancements in motor design and materials. The growing middle-class population in emerging economies has resulted in increased leisure spending and recreational activities such as boating. Moreover, innovations such as joystick docking technology, which simplifies boat handling, have made boating more accessible to novices, thereby expanding the consumer base.
The trend towards larger boats, which often require more powerful outboard systems, also contributes to market growth. Furthermore, regulatory pressures for lower emissions and noise levels continue to drive advancements in outboard technology, pushing manufacturers to invest in research and development to meet these challenges while catering to consumer demands for high performance and reliability.
Key Questions Answered:
- How is the Global Outboard Motors Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Electric Outboard Motors segment, which is expected to reach US$3.9 Billion by 2030 with a CAGR of a 3.3%. The Manual Outboard Motors segment is also set to grow at 2.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $1.4 Billion in 2023, and China, forecasted to grow at an impressive 5.7% CAGR to reach $1.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as AB Volvo Penta, American Honda Motor Co., Inc., Bombardier Recreational Products Inc.,, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 285 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $5 Billion |
| Forecasted Market Value (USD) by 2030 | $6.1 Billion |
| Compound Annual Growth Rate | 2.8% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Outboard Motors – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Technological Advancements in Fuel Efficiency Drive Demand for Modern Outboard Motors
- Environmental Regulations Propel Development of Eco-Friendly Motors
- Increase in Recreational Boating Activity Spurs Sales of High-Performance Outboard Motors
- Electric Outboard Motors Gain Market Share
- Impact of Fishing Industry Trends on Outboard Motor Specifications and Sales
- Global Maritime Safety Standards Influence Design and Manufacturing
- Economic Indicators and Consumer Spending Patterns Affect Outboard Motor Market
- Trends in Marine Sports Activities Drive Innovations in Motor Power and Durability
- Shifts in Consumer Preference Towards Lightweight and Portable Motors
- Advancements in Material Science Enhance Corrosion Resistance and Motor Lifespan
FOCUS ON SELECT PLAYERS (Total 51 Featured)
- AB Volvo Penta
- American Honda Motor Co., Inc.
- Bombardier Recreational Products Inc.,
- Cox Powertrain Ltd.
- ePropulsion Technology Limited
- Hangzhou Hidea Power Machinery Co.,Ltd
- LEHR, Inc.
- Mercury Marine
- Mud Buddy Motor
- Selva S.p.A.
- Suzhou Parsun Power Machine Co., Ltd
- Suzuki Marine USA, LLC
- Tohatsu Corporation
- Torqeedo GmbH
- Yamaha Motor Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/rkgthz
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- Global Outboard Motors Market
