Market Size of Outboard Motor Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 6.11 Billion |
| Market Size (2029) | USD 7.37 Billion |
| CAGR (2024 - 2029) | 3.79 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Outboard Motor Market Analysis
The Outboard Motor Market size is estimated at USD 6.11 billion in 2024, and is expected to reach USD 7.37 billion by 2029, growing at a CAGR of 3.79% during the forecast period (2024-2029).
Rising maritime activities and rising demand for small and medium-powered boats from recreational activities are expected to drive demand in the market studied. Furthermore, the growing demand for large horsepower outboards for rescue operations and commercial activities will drive the market during the forecast period.
Growth in recreational boating and the increasing popularity of pontoon boats and saltwater fishing vessels represent significant growth opportunities for the market studied.
Moreover, with increased production of yachts and leisure boats, regions such as North America and Europe will see significant growth in the outboard engine market. Rising watersports events and government initiatives to promote coastal tourism will further support market growth.
However, high outboard engine prices will hinder market growth during the forecast period.
Outboard Motor Industry Segmentation
An outboard motor is a type of boat propulsion system that is one of the most common motorized methods of propelling watercraft. Unlike inboard motors, this type of motor is intended to be installed on the outside of the transom or outside the boat, allowing for more space in the interior. Outboard motors have many advantages, including a high horsepower-to-weight ratio, ease of installation and maintenance, and extended maintenance intervals.
The outboard motor market is segmented by application type (commercial and recreational), thrust (portable, mid-range, and high power), and geography (North America, Europe, Asia-Pacific, and the Rest of the World). The report offers market size and forecasts for the market studied in value (USD ) for all the above segments.
| Application Type | |
| Commercial | |
| Recreational |
| Thrust | |
| Portable | |
| Mid-range | |
| High Power |
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Outboard Motor Market Size Summary
The outboard motor market is poised for steady growth, driven by increasing maritime activities and a rising demand for small and medium-powered boats, particularly in recreational sectors. The market is experiencing a surge in interest due to the growing popularity of pontoon boats and saltwater fishing vessels, which present significant opportunities for expansion. Regions like North America and Europe are expected to witness substantial growth, fueled by increased production of yachts and leisure boats, alongside government initiatives promoting coastal tourism. However, the high cost of outboard engines poses a challenge to market growth, potentially limiting accessibility for some consumers.
The market landscape is characterized by a consolidated structure with several key players holding significant shares. Companies such as Yamaha Motor Co., Honda Motors Co. Ltd, Suzuki Motor Corporation, Brunswick Corporation, and Tohatsu Corporation are at the forefront, investing in research and development to meet stringent emission norms and incorporate advanced technologies. The introduction of innovative products, such as electric outboard motors and smart technologies, reflects the industry's commitment to sustainability and enhanced user experience. As the demand for recreational boating continues to rise, driven by increasing disposable incomes and a burgeoning tourism industry, the outboard motor market is expected to see continued investment and growth in the coming years.
Outboard Motor Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Rising Demand for Small Boats
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1.1.2 Expanding Recreational Boating Opportunities
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1.2 Market Restraints
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1.2.1 Strict Emission Norms for Recreation Boats Likely to Have Negative Impact
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value )
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2.1 Application Type
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2.1.1 Commercial
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2.1.2 Recreational
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2.2 Thrust
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2.2.1 Portable
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2.2.2 Mid-range
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2.2.3 High Power
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Japan
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2.3.3.4 South Korea
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 Rest of the World
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2.3.4.1 Brazil
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2.3.4.2 Mexico
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2.3.4.3 United Arab Emirates
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2.3.4.4 Other Countries
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Outboard Motor Market Size FAQs
How big is the Outboard Motor Market?
The Outboard Motor Market size is expected to reach USD 6.11 billion in 2024 and grow at a CAGR of 3.79% to reach USD 7.37 billion by 2029.
What is the current Outboard Motor Market size?
In 2024, the Outboard Motor Market size is expected to reach USD 6.11 billion.
