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Marine Outboard Engines Market Size, Impacted by COVID-19, to Reach 761 Thousand Units in 2025, Says Stratview Research

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Stratview Research

28 May, 2020, 13:00 GMT

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DETROIT, May 28, 2020 /PRNewswire/ -- Stratview Research announces the launch of a new report on Marine Outboard Engines Market by Engine Power Type (<75 kW, 75-110 kW, 110-150 kW, and >150 kW), by Boat Type (Fishing, Leisure, Sailing/Transport, and Others), and by Region (North America, EMEA, Asia-Pacific, and South America), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025.

This comprehensive report, from Stratview Research, studies the marine outboard engines market over the trend period of 2014 to 2019 and forecast period of 2020 to 2025 in terms of both, unit shipments as well as value. The report estimates the short- as well as long-term impact of the COVID-19 pandemic on the demand for outboard engines at the global, regional, as well as country level. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits and formulation of growth strategies.

Marine Outboard Engines Market: Research Highlights

Outboard engines are the brightest stars of the marine industry as they represent lion's share of the marine engines market in the global recreational boating industry. In the USA, the biggest market for recreational boats globally, outboard engines account for more than 85% share of the total marine engines sold in the country. The history of marine outboard engines can be seen back in the early '90s and have come a long path of more than 100 years. The power of outboard engines gradually increased when the first 100 HP V-6 outboard engine was introduced in 1975. This gave rise to 175- and 200-horsepower outboards in the market. In the past few years, the major push has been towards producing larger and more powerful outboard engines.

The Great Recession (2008-2009) greatly plunged the sales of marine outboard engines, throwing the sales even below to its previous decade level. (The USA: 275.5 thousand units in 2007 and 180.7 thousand units in 2009; EMEA (including Russia): 332.4 thousand units in 2007 and 204.7 thousand units in 2009. It took almost a decade for the USA to hit back its pre-recession sales level in 2018 (278.5 thousand units in 2018), whereas, till 2019, Europe could not even come close to its pre-recession level.

The outbreak of COVID-19 destructively pressed the break in engine sales, bringing it to almost standstill in leading economies. It is estimated that the global marine outboard engine sales will experience a colossal decline in 2020, taking the engine sales in 2020 to touch below the Great Recession level. It is anticipated that there would be a gradual recovery in the sales of outboard engines post-pandemic.  From 2022 onwards, the market is likely to mark a speedy recovery in the sales of engines across regions.

Click Below and Run Through the Detailed TOC of the Report:

https://www.stratviewresearch.com/toc/829/outboard-engines-market.html

The ongoing pandemic will have both short as well as long-term impact in the marine outboard engines market; however, the market will find some solace in the long-term scenario with some driving factors including expected growth in HNWI population, increasing boating participants, growing interest towards outboard boats from sterndrive or inboard boats, and increasing demand for high-power outboard engines. Healthy recovery in outboard engine sales from 2022 will assist the industry stakeholders to push the global sales to marginally above 750 thousand units by 2025; however, it will be significantly lower than the 2019-sales figure. 

Stratview has firstly segmented the marine outboard engines market based on the engine power type as <75kW, 75-110 kW, 110-150 kW, and >150 kW. <75kW engine power segment is likely to remain dominant in terms of unit shipments by 2025. However, the segment is likely to lose its share to the mid-range and high-power segments, majorly in the USA and some key Western European countries. Japan, China, Russia, and Germany are some key countries with the highest penetration of low-power engines. Most of the outboard engines' demand in these countries is for less than <30 kW. The <150 kW engine power segment has been gaining significant share in the market, especially in the USA.

Our analysis based on the market segment of the boat type suggests that the fishing segment is expected to remain the dominant boat type segment among fishing, leisure, sailing/transport, and others. Pontoon, center console, and multi-species boat have been gaining traction in the segment. Both saltwater and freshwater fishing are generally performed on an outboard-powered boat, which creates a huge demand for outboard engines.

Register Here and Ask for a Free Sample of the Report:

https://www.stratviewresearch.com/Request-Sample/829/outboard-engines-market.html

The market is registering significant changes in regional dynamics in pre-COVID and post-COVID scenarios. All regions to mark a huge decline in outboard engine sales in 2020; however, EMEA is estimated to be the worst-hit region due to the pandemic. 

Despite severely hit, the North American region is projected to remain the largest market for marine outboard engines during the forecast period. The USA is the world's largest market for both outboard engines as well as recreational boats, with Florida being the largest market. All major players have strong presence in the region to tap the huge market.

Asia-Pacific is currently a small market but is likely to be the fastest-healing region in a post-pandemic scenario.  China, Australia, and Japan are key countries in the market generating considerable market demand.

The supply chain of this market comprises material suppliers, part manufacturers, outboard engine manufacturers, boat manufacturers, and dealers/distributors. Key players in the market are Yamaha Motor Co. Ltd., Brunswick Corporation (Mercury Marine), Suzuki Motor Corporation, Honda Motor Co. Inc., Bombardier Recreational Products Inc., Tohatsu Corporation, AB Volvo, Suzhou Parsun Power Machine Co., Ltd., and Hidea Power Machinery Co., Ltd.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis.
  • Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
  • Market trend and forecast analysis.
  • Market segment trend and forecast.
  • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
  • Attractive market segments and associated growth opportunities.
  • Emerging trends.
  • Strategic growth opportunities for the existing and new players.
  • Key success factors

This report studies the marine outboard engines market and has segmented the market in three ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the three ways in which the market is segmented:

Marine Outboard Engines Market, By Engine-Power Type

  • <75 kW (Regional Analysis: North America, EMEA, Asia-Pacific, and South America)
  • 75-110 kW (Regional Analysis: North America, EMEA, Asia-Pacific, and South America)
  • 110-150 kW (Regional Analysis: North America, EMEA, Asia-Pacific, and South America)
  • >150 kW (Regional Analysis: North America, EMEA, Asia-Pacific, and South America)

Marine Outboard Engines Market, By Boat Type:

  • Fishing (Regional Analysis: North America, EMEA, Asia-Pacific, and South America)
  • Leisure (Regional Analysis: North America, EMEA, Asia-Pacific, and South America)
  • Sailing/Transport (Regional Analysis: North America, EMEA, Asia-Pacific, and South America)
  • Others (Regional Analysis: North America, EMEA, Asia-Pacific, and South America)

Marine Outboard Engines Market, By Region

  • North America (Country Analysis: The USA, and Canada)
  • EMEA (Country Analysis: Norway, Germany, France, Sweden, The UK, Italy, Russia, and Rest of EMEA)
  • Asia-Pacific (Country Analysis: Australia, New Zealand, China, Japan, and Rest of Asia-Pacific)
  • South America

Stratview Research has number of high value market reports in the marine and consumer goods industry. Please refer to the following link to browse through our reports:

https://www.stratviewresearch.com/market-reports/Consumer-Goods.html

Our related premium market reports are:

  • Ski and Wake Boat Market Size, Share, Trend, Forecast, & Competitive Analysis: 2019-2024.
  • Recreational Fiberglass Boat Market Size, Share, Trend, Forecast, & Competitive Analysis: 2019-2024.
  • Aluminum Fishing Boat Market Size, Share, Trend, Forecast, & Competitive Analysis: 2019-2024.

About Stratview Research

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.

Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. 

For inquiries,
Contact:
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176

Logo: https://mma.prnewswire.com/media/660595/Stratview_Research_Logo.jpg

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