- utboard motors are compact, lightweight and are designed to be affixed to the stern of the boat. These motor is used as propulsion systems for boats, which include gearbox, engine, and propeller. It is the most common motorized method of propelling small and medium watercraft. Growing adoption of outboard motors for small and medium watercraft due to ease in boat handling and enhanced fuel efficiency supports the growth of the outboard motors market. Outboard motors market is expected to grow promisingly all over the world in coming years.
MARKET SCOPE
The "Global Outboard Motors Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the outboard motors market with detailed market segmentation by engine type, power, ignition type, application and geography. The report provides key statistics on the market status of the leading outboard motors market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on engine type, the global outboard motors market is segmented into 2-Stroke and 4-Stroke.
- On the basis of power, the market is segmented into low, mid and high.
- Based on ignition type, the market is bifurcated into electric and manual.
- On the basis of application, the market is segmented into commercial, recreational and military.
MARKET DYNAMICS
Drivers:
- Increasing government funding for infrastructure development of the marine sector.
- Rise in spending on tourism, adventure sports, and recreational activities.
Restraints:
- Unorganized retail sector in few developing countries
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The outboard motors market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the outboard motors market in these regions.
IMPACT OF COVID-19 ON OUTBOARD MOTORS MARKET
The outbreak of the COVID-19 has severely impacted the automotive, transportation and other related industries adversely. The emergence of COVID-19 virus across the globe which led to lockdown scenarios has led to unprecedented series of border closures across the globe. This disruption of global supply chain has left an adverse impact on the automotive industry. This pandemic restricted movement of people and non-essential goods from one place to another. Restrictions of limited workforce at production site affected the market from supply side. The pandemic period experienced temporary closure of various water sport activities. All the mentioned factors have impacted the outboard motors market negatively.
MARKET PLAYERS
The report covers key developments in the outboard motors market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from outboard motors market are anticipated to lucrative growth opportunities in the future with the rising demand for outboard motors in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the outboard motors market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Cox Powertrain Limited
- Honda Motor Co., Ltd.
- Mercury Marine
- Powertec Outboards
- Suzuki Marine
- Tohatsu Corporation
- Torqeedo GmbH
- Volvo Penta
- Yamaha Motor Co., Ltd.
- YANMAR Marine International