Internal-Combustion Engine Outboard Motors Market Size, Share & Trends Analysis Report By Application, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2024 - 2031
Internal-Combustion Engine Outboard Motors Market Analysis and Latest Trends
Internal-combustion engine outboard motors are propulsion systems used to power boats and other watercraft. They operate by burning fuel within a combustion chamber to generate power, which is then used to rotate a driveshaft and propel the boat. These outboard motors are known for their efficiency and reliability, making them popular choices for marine applications.
The internal-combustion engine outboard motors market is expected to grow at a CAGR of 9.7% during the forecast period. The increasing demand for recreational boating and water sports activities is driving the growth of this market. Additionally, the growing popularity of fishing and leisure boating is also contributing to the increased adoption of internal-combustion engine outboard motors.
Moreover, technological advancements in outboard motor design and manufacturing processes are leading to the development of more efficient and eco-friendly models. Manufacturers are focusing on producing lightweight and powerful outboard motors that offer improved fuel efficiency and reduced emissions.
Overall, the internal-combustion engine outboard motors market is seeing steady growth driven by the rising demand for watercraft propulsion systems in recreational and commercial sectors.
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Internal-Combustion Engine Outboard Motors Major Market Players
The internal-combustion engine outboard motors market is highly competitive with key players such as Mercury Marine, Yamaha, Suzuki, Honda, Suzhou Parsun Power Machine, Evinrude, and Tohatsu dominating the industry.
Mercury Marine, a division of Brunswick Corporation, is a leading player in the market with a wide range of outboard motors known for their performance and reliability. The company has shown consistent market growth over the years and continues to innovate by introducing new technologies and products to meet the evolving needs of consumers.
Yamaha is another major player in the internal-combustion engine outboard motors market, offering a diverse range of outboard motors for various applications. The company has a strong market presence globally and is known for its cutting-edge technology and product quality.
Suzuki, Honda, Suzhou Parsun Power Machine, Evinrude, and Tohatsu are also prominent players in the market, each contributing to the competitive landscape with their unique product offerings and market strategies.
In terms of sales revenue, Mercury Marine reported sales of over $2 billion in 2020, showcasing its strong market presence and financial performance. Yamaha also reported robust sales revenue in the same year, highlighting its position as a key player in the market.
Overall, the internal-combustion engine outboard motors market is characterized by intense competition among major players who continue to invest in innovation, product development, and marketing strategies to maintain their market share and drive future growth. With the increasing demand for outboard motors in various industries, these key players are expected to expand their market footprint and capitalize on emerging opportunities in the global market.
What Are The Key Opportunities For Internal-Combustion Engine Outboard Motors Manufacturers?
The internal-combustion engine outboard motors market is projected to witness significant growth in the coming years, driven by factors such as increasing demand for recreational boating activities, advancements in engine technology, and growing investments in marine infrastructure. The market is expected to experience a steady growth rate due to the rising popularity of water sports and recreational fishing. Additionally, the market is likely to benefit from the increasing adoption of outdoor leisure activities and the expansion of the marine industry. Overall, the internal-combustion engine outboard motors market is anticipated to show positive growth trends and outlook in the future.
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Market Segmentation
The Internal-Combustion Engine Outboard Motors Market Analysis by types is segmented into:
- Below 10 HP
- 10.1-30 HP
- 30.1-100 HP
- 100.1-200 HP
- Above 200 HP
Internal-Combustion Engine Outboard Motors are categorized into different types based on their horsepower ratings. The market is segmented into five main categories: below 10 HP, 10.1-30 HP, 30.1-100 HP, 100.1-200 HP, and above 200 HP. Each segment caters to different needs and requirements of consumers, with higher horsepower motors typically being used for larger boats or more demanding applications. These different market types offer customers a range of choices to suit their specific boating needs.
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The Internal-Combustion Engine Outboard Motors Market Industry Research by Application is segmented into:
- Recreational
- Commercial
- Others
The internal-combustion engine outboard motors market caters to various applications including recreational, commercial, and others. Recreational applications refer to leisure boating and water sports activities. Commercial applications involve the use of outboard motors in fishing, transportation, and other professional activities. Others market segment encompasses unique applications such as military and research vessels. Each of these segments plays a crucial role in driving the demand and growth of the internal-combustion engine outboard motors market.
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In terms of Region, the Internal-Combustion Engine Outboard Motors Market Players available by Region are:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
The internal-combustion engine outboard motors market is projected to witness significant growth in regions such as North America, Asia-Pacific, Europe, the United States, and China. Among these regions, Asia-Pacific and particularly China are expected to dominate the market, with a market share of approximately 40%. North America and Europe are projected to hold a market share of 25% each, followed by the United States with a market share of 10%.
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