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Feb 23, 2024

Marine Outboard Engines Global Market Report 2023

Major players in the marine outboard engines market are Brunswick Corporation, Deutz AG, Honda Motor Co.Ltd., Suzuki Motor Corporation, Bombardier Recreational Products Inc., Yamaha Motor Co. Ltd.,

Major players in the marine outboard engines market are Brunswick Corporation, Deutz AG, Honda Motor Co.Ltd., Suzuki Motor Corporation, Bombardier Recreational Products Inc., Yamaha Motor Co. Ltd., Mahindra And Mahindra Limited, Johnson Outdoors Inc.

New York, June 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Marine Outboard Engines Global Market Report 2023" - https://www.reportlinker.com/p06464022/?utm_source=GNW , Krautler Elektromaschinen GmbH., Tohatsu Corporation, Suzhou Parsun Power Machine Co. Ltd., AB Volvo, Elco Motor Yachts, Greaves Cotton Ltd., Hangzhou Hidea Power Machinery Co. Ltd., LEHR Holdings LLC, Oxe Marine AB, Taizhou Gongda Motors Parts Co.Ltd., West Marine, and Yongkang Longxiao Industry And Trade Co. Ltd.The global marine outboard engines market is expected to grow from $4.23 billion in 2022 to $4.41 billion in 2023 at a compound annual growth rate (CAGR) of 4.19%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The marine outboard engines market is expected to reach $4.96 billion in 2027 at a CAGR of 2.98%.The marine outboard engine market consists of sales of verado 600HP outboard engines, seapro 500HP outboard engine, and pro xs outboard engine, and jet outboard engines.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Marine outboard engines refer to compact vessel propulsion systems for boats designed to be mounted on the craft’s transom.It includes an engine, reduction gearing, and a propeller.These engines are especially suitable for small boats, and they are extremely light motors, which improve the power-to-weight ratio and allow the boat to effectively slice through the water.North America was the largest region in the marine outboard engines market in 2022. The regions covered in marine outboard engine report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main engine types of marine outboard engines are two-stroke carburate, two-stroke electronic fuel injection, two-stroke direct injection system, four-stroke carburetted, and four-stroke electronic fuel injection.A two-stroke carburetor is a type of internal combustion engine that completes the power cycle with two strokes (up and down) of the piston during one power cycle.The boat types involved are fishing vessel, recreational vessel and special purpose boats that consumes less than 30 hp, 30 hp to 100 hp, and above 100 hp with electric and manual ignition. It is used for military and civilian applications.The surging demand for marine transportation is expected to propel the growth of the marine outboard engine market going forward.Maritime transport refers to a mode of transport in which goods or people are transported via sea routes.Marine outboard engines are primarily attached to marine transportation boats which increase the boat’s speed and allow the boat to slice through the water more easily.Hence, the increasing marine transportation will result in demand for marine outboard engines.For instance, in March 2023, according to a report published by Statistics Finland., a Finland-based government agency, in 2023, Finland transported 1.2 million metric tonnes of goods by general cargo where all together, 0.7 million persons were transported in passenger traffic, and import volume increased by 10 percent to 4.0 million metric tonnes. and foreign shipping traffic totalled 7.4 million metric tonnes in 2023. Additionally, according to Handbook of statistics 2022 published by United Nations Conference on Trade and Development, a Switzerland-based Intergovernmental organization, seaborne trade jumped by 3.2% in 2021. Therefore, surging demand for marine transportation is driving the growth of the marine outboard engine market.Product innovation is a key trend gaining popularity in the marine outboard engine market.Major companies operating in marine outboard engines are focused on developing innovative solutions to strengthen their position in the market.For instance, in January 2023, Yamaha Motor Co.Ltd., a Japan-based manufacturing company, launches its new marine outboard engines, the XTO 450hp V8 and the XTO 400hp V8, which will offer users increased acceleration and faster speeds. This outboard engine comes with a new cowl design, refined new graphics, and new features, including full tilt capability with an integrated tilt limiter and integrated digital electric steering (DES). In addition, durability is ensured for easy maintenance and charging, and a silent muffler has been added to improve quietness at high speeds.In November 2022, Correct Craft, a US-based manufacturer of powerboats primarily for waterskiing, wakeboarding, and wake surfing, acquired Indmar Marine Engines. for an undisclosed amount. With this acquisition, Correct Craft aims to provide significant opportunities for long-term growth while continuing to build and honour its family’s legacy and providing additional security and opportunity for their employees. Indmar Marine Engines is a US-based manufacturer of inboard marine engine.The countries covered in the marine outboard engine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The marine outboard engines market research report is one of a series of new reports that provides marine outboard engines market statistics, including marine outboard engines industry global market size, regional shares, competitors with marine outboard engines market share, detailed marine outboard engines market segments, market trends, and opportunities, and any further data you may need to thrive in the marine outboard engines industry. This marine outboard engines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: https://www.reportlinker.com/p06464022/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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