In the recent years, outboard motor technology has advanced to the point where outboard engines are fuel efficient, more reliable, and weigh less as compared to the models of the past. In order to enhance the boating experience, manufacturers are moving towards combining the right boat powered by the best outboard engine. Instead of choosing the size of the outboard as per the manufacturers maximum allowed capacity, some of the customers are also going for the smaller outboard engine, especially in the case of shallow drafts. The weight of the outboard engine is also being considered by customers along with the hull design and draft, as they all affect the overall performance of the boat.
With the modernization of pontoon boats, the demand for larger horsepower outboards has increased. Moreover, the development of multi-engine pontoons by several manufacturers is also driving the demand for outboard engines. Manufacturers are focusing on offering super-efficient outboard engines, they are also preparing outboard engines for winters in such a way that the user don’t need to inject antifreeze in the cooling system, as the outboard engine will automatically flush out the water. There has also been an increase in demand for higher horsepower outboard engine models in racks of two, three, and four by sportsboats. The growing trend of recreational boating and rise in the preference for personal watercrafts are also contributing to the growth of outboard engine market.
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Four Stroke Electronic Fuel Injection Technology to Witness Robust Growth
Four stroke electronic fuel injection technology is expected to witness robust growth during the forecast period 2017-2026. By the end of 2026, four stroke electronic fuel injection technology is estimated to reach nearly US$ 3,500 million revenue.
Medium Power Outboard Engine to Account for Maximum Revenue Share
Medium power outboard engine is estimated to account for nearly half of the revenue share by the end of 2017. Medium power outboard engine is projected to surpass US$ 3,400 million revenue by 2026 end. Meanwhile, high power outboard engine is also expected to witness significant growth during 2017-2026.
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Electric Start to Emerge as the Highly Preferred Start Type in the Global Outboard Engine Market
Outboard engine with electric start is expected to witness strong growth during the forecast period 2017-2026. Outboard engine with electric start is estimated to create an incremental opportunity of more than US$ 3,000 million between 2017 and 2026.
Fishing Boat to Witness Significant Growth in the Global Market for Outboard Engine
Compared to the various boats, fishing boats are likely to emerge as the largest users of the outboard engines. Witnessing a strong growth between 2017 and 2026, fishing boats are projected to bring in nearly US$ 3,700 million by the end of 2026. Meanwhile, recreational boats are also expected to witness robust growth during 2017-2026.
Europe to Remain Dominant in the Global Outboard Engine Market through 2026
Europe is likely to emerge as the largest region in the global outboard engine market during the forecast period 2017-2026. Presence of the key market players and increasing participation in the water recreational activities are some of the factors contributing towards the growth of the market in Europe. Meanwhile, North America is also expected to witness growth, owing to the increasing preference for high power outboard engine.
Some of the key market players in the global outboard engine market are DEUTZ Aktiengesellschaft, Honda Motor Co., Ltd., Brunswick Corporation, Suzuki Motor Corporation, BRP Inc., Tohatsu Corporation, Yamaha Motor Co., Ltd., Johnson Outdoors Inc., LEHR, LLC, and Kräutler Elektromaschinen Gmbh.