According to Technavio’s latest market research study, the global marine outboard engines market is expected to grow at a CAGR of close to 4% during the forecast period 2016 to 2020.
This report by Technavio provides an in-depth analysis of the global marine outboard engines market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the engine power
Source: Technavio
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The top three revenue contributing engine segments based on the power are discussed below
Global marine outboard engines market in low power output segment: Low power output engines are prevalent in the European market and in countries such as Brazil, Canada, and Australia due to high fishing activity in these regions. The increased adoption of these engines is attributable to the huge gap between the price of the low powered powerboats and high powered powerboats.
“The OEMs in the market are developing advanced automotive technologies that can provide fuel economy benefits. Some of the advanced technologies used are two-stroke indirect fuel injection, four-stroke fuel injection, four-stroke throttle body fuel injection, and electronic control modules,” says Siddharth Jaiswal, a lead analyst at Technavio for research on powertrain.
Global marine outboard engines market in mid-power output segment: Some popular models of mid-power output outboard engines include Honda BF90, Mercury 90, Suzuki DF90, Tohatsu M90A and Mercury 90 EFI. Watersports boats require more power, as a result, the mid-power output outboard engines are installed in powerboats used for such activities. The US accounts for a majority of the demand for mid-power output outboard engines. The growing popularity of water sports across the globe is expected to propel the demand for these engines during the forecast period.
Global marine outboard engines market in high power output segment: In 2015, the US constituted around 58% of the global marine outboard engines market in the high-power output outboard engines segment followed by ROW with more than 21% and Europe with almost 21%. High power output outboard engines are used in shafts with size greater than 25 inches or more and can run the boats at a speed greater than 60 mph. OEMs are taking multiple steps to improve the fuel economy benefits through the introduction of two-stroke direct fuel injection technologies.
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The top vendors operating in the global marine outboard engines market are:
- Honda
- Suzuki
- Yamaha
- Mercury
A more detailed analysis is available in the Technavio report titled, ‘Global Marine Outboard Engines Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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