Global Outboard Engine Market 2025-2035

Description

List of Tables

Outboard Engine Market Size, Share & Trends Analysis Report by Engine Type (2-Stroke, 4-Stroke, and Electric), by Fuel Type (Diesel, Gasoline, and Electric), by Ignition Type (Electric and Manual), and by Application (Commercial, Recreational, and Military) Forecast Period (2025-2035)

Industry Overview

Outboard engine market size was $10,510 million in 2024 and is anticipated to reach $19,092 million in 20235, growing at a CAGR of 5.6% during the forecast period (2025-2035). The marine outboard engine market was 956,000 units per annum in 2023. Growing recreational boating activities due to the robust economic growth, and changing consumer behaviors toward boating for spending time with family and friends, will boost market growth. The National Marine Manufacturers Association (NMMA) states that the gross outdoor recreational boating and fishing output stood at USD 32.4 billion in 2022. As disposable incomes rise, people and households tend to spend on leisure activities, such as boating. This development benefits the outboard engine market since boating is a luxury or leisure expense. Yachts are one of the preferred modes of recreational boating that provide luxury, comfort, and performance on the water.

Market Dynamics

Growing Demand for Recreational Boating

The increasing demand of the recreational boating sector is anticipated to experience significant growth, owing to the increasing popularity of water sports activities, cruise holidays, personal boats, yachts, sporting vessels, and leisure activities will drive the market growth. For instance, as reported by the National Marine Manufacturers Association (NMMA), the U.S. recreational boating industry creates $230 billion in annual economic activity, supporting over 36,000 businesses and 812,000 jobs. This trend is expected to continue, driving the demand for outboard engines, particularly in the 4-stroke and electric segments.

Advancement & Development in outboard engines

Simultaneously, innovations in outboard engines, such as integration of smart components and technologies, including IoT-based monitoring systems, advancements in electric propulsion technology, and key developments, including lightweight engine designs in outboard engines, are expected to drive demand within the market. Additionally, the technological advancements in electric outboard motors are becoming increasingly popular owing to their eco-friendly nature, noiseless operation, and lower maintenance costs. Further, the adoption of lithium-ion and solid-state batteries is helping to increase energy storage capacity, shorten charging times, and enhance overall performance, making electric outboard motors more practical and efficient. This advancement in electric outboard engine support drives the outboard engine market.

Market Segmentation

Based on the engine type, the market is segmented into 2-stroke, 4-stroke, and electric.
Based on the fuel type, the market is segmented into diesel, gasoline, and electric.
Based on the ignition type, the market is segmented into electric and manual.
Based on the application, the market is segmented into commercial, recreational, and military.

4-Stroke Outboard Engines to Dominate the Market

The growing culture of cruise holidays, fishing, marine tourism, increasing popularity of water sports activities, and the commercial cargo ships for export/import will require powerful and efficient engines to smooth these activities. The 4-stroke outboard engine segment is anticipated to dominate the market due to its superior fuel efficiency, lower emissions, and noiseless operation compared to 2-stroke engines. For instance, Yamaha provides V6 4.3-liter 350ps, V6 3.4-liter 250-200ps, and V6 4.2-liter 300- 250ps, an entire model series in four-stroke engines ranging from 450ps to 2.5ps that provide excellent fuel efficiency and reduced emissions. 20ps and larger outboards are furnished with high-output fuel injection to carry that performance to higher levels.

Electric Outboard Engines to Witness Rapid Growth

The electric outboard engine segment is anticipated to witness the highest growth rate, driven by increasing environmental concerns, the development of renewable energy, and government regulations and policies for eco-friendly development. For instance, Evoy Vita's offers Evoy Storm 300+ hp, the planet's most powerful electric outboard motor that has stunning acceleration, instant torque and rapid-charging features, the Evoy Storm is raising the performance bar, enabling boats to achieve their maximum speed while decreasing their environmental impact in half without any loss of performance. The company is entering the US market in 2025 by introducing the AX/E line that will bring the benefits of the electric boat experience to recreational boaters. Additionally, partnership with Axopar helps Evoy Storm 300+ hp to become accessible while creating an extensive adoption of high-performance electric solutions through the marine industry.

Regional Outlook

The global outboard engine market is further divided by geography, including North America (the US and Canada), Europe (the UK, Germany, France, Italy, Spain, Russia, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, Australia and New Zealand, ASEAN Countries, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America)

North America Dominates the Global Outboard Engine Market.

North America holds a significant share of the outboard engine market owing to high demand for commercial boats for import or export, recreational boating, personal marine activities, increasing popularity of cruise holidays. As per the NMMA, in 2023, Canada's total market value of recreational boat sales is $3.3 billion and in US $230 billion annual economic impact of the U.S. recreational boating industry in 2022. NMMA serves and provides services by enhancing the business environment for recreational boating, including offering domestic and international sales and marketing opportunities, minimizing unnecessary government regulation, lowering the cost of doing business, and assisting in growing boating participation. Being the biggest manufacturer of boats and sport shows in America, NMMA unites the recreational boating industry with the boating consumer throughout the entire year.

Market Players Outlook

The major companies operating in the global outboard engine market include American Honda Motor Co., Inc., Mercury Marine (Brunswick Corp.), Suzuki Marine USA, LLC, Tohatsu Corporation, and Yamaha Motor Co., Ltd., among others. Market players are leveraging partnerships, collaborations, mergers, and acquisition strategies for business expansion and innovative product development to maintain their market positioning.

Recent Developments

In January 2024, Yamaha Motor acquired Torqeedo to consolidate the company's expansion. The acquisition is uniting Torqeedo's capital with Yamaha Motor's years of technical know-how and experience in hull design, marine engines, and so much more, which will give birth to synergies for designing mid-range electric outboard motors as the company seeks to lead the expanding electric boat propulsion market.
In February 2024, Tohatsu Corporation and Ilmor Marine entered into a partnership in Electric Outboard Technology. The partnership between Tohatsu and Ilmor focuses on developing the best line of electric outboard products. The first off, the line is a 6kW outboard. This electric outboard feature integrated tilt and trim, a gauge-style touch screen for centralized system management, and various variants in both shafts and props.

The Report Covers:

Market value data analysis of 2024 and forecast to 2035.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global outboard engine market. Based on the availability of data, information related to new products and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.

Product Code: OMR2028881

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
Global Outboard Engine Market Sales Analysis - Engine Type| Fuel Type| Ignition Type| Application ($ Million)
Outboard Engine Market Sales Performance of Top Countries
1.1. Research Methodology
Primary Research Approach
Secondary Research Approach
1.2. Market Snapshot

2. Market Overview and Insights

2.1. Scope of the Study
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Outboard Engine Industry Trends
- 2.2.2. Market Recommendations
2.3. Porter's Five Forces Analysis for the Outboard Engine Market
- 2.3.1. Competitive Rivalry
- 2.3.2. Threat of New Entrants
- 2.3.3. Bargaining Power of Suppliers
- 2.3.4. Bargaining Power of Buyers
- 2.3.5. Threat of Substitutes

3. Market Determinants

3.1. Market Drivers
- 3.1.1. Drivers For Global Outboard Engine Market: Impact Analysis
3.2. Market Pain Points and Challenges
- 3.2.1. Restraints For Global Outboard Engine Market: Impact Analysis
3.3. Market Opportunities

4. Competitive Landscape

4.1. Competitive Dashboard - Outboard Engine Market Revenue and Share by Manufacturers
Outboard Engine Product Comparison Analysis
Top Market Player Ranking Matrix
4.2. Key Company Analysis
- 4.2.1. American Honda Motor Co., Inc.
  - 4.2.1.1. Overview
  - 4.2.1.2. Product Portfolio
  - 4.2.1.3. Financial Analysis (Subject to Data Availability)
  - 4.2.1.4. SWOT Analysis
  - 4.2.1.5. Business Strategy
- 4.2.2. Mercury Marine (Brunswick Corp.)
  - 4.2.2.1. Overview
  - 4.2.2.2. Product Portfolio
  - 4.2.2.3. Financial Analysis (Subject to Data Availability)
  - 4.2.2.4. SWOT Analysis
  - 4.2.2.5. Business Strategy
- 4.2.3. Suzuki Marine USA, LLC.
  - 4.2.3.1. Overview
  - 4.2.3.2. Product Portfolio
  - 4.2.3.3. Financial Analysis (Subject to Data Availability)
  - 4.2.3.4. SWOT Analysis
  - 4.2.3.5. Business Strategy
- 4.2.4. Tohatsu Corp.
  - 4.2.4.1. Overview
  - 4.2.4.2. Product Portfolio
  - 4.2.4.3. Financial Analysis (Subject to Data Availability)
  - 4.2.4.4. SWOT Analysis
  - 4.2.4.5. Business Strategy
- 4.2.5. Yamaha Motor Co., Ltd.
  - 4.2.5.1. Overview
  - 4.2.5.2. Product Portfolio
  - 4.2.5.3. Financial Analysis (Subject to Data Availability)
  - 4.2.5.4. SWOT Analysis
  - 4.2.5.5. Business Strategy
4.3. Top Winning Strategies by Market Players
- 4.3.1. Merger and Acquisition
- 4.3.2. Product Launch
- 4.3.3. Partnership And Collaboration

5. Global Outboard Engine Market Sales Analysis By Engine Type ($ Million)

5.1. 2-stroke
5.2. 4-stroke
5.3. Electric

6. Global Outboard Engine Market Sales Analysis By Fuel Type ($ Million)

6.1. Diesel
6.2. Gasoline
6.3. Electric

7. Global Outboard Engine Market Sales Analysis By Ignition Type ($ Million)

7.1. Electric
7.2. Manual

8. Global Outboard Engine Market Sales Analysis By Application ($ Million)

8.1. Commercial
8.2. Recreational
8.3. Military

9. Regional Analysis

9.1. North American Outboard Engine Market Sales Analysis - Engine Type| Fuel Type| Ignition Type| Application ($ Million)
Macroeconomic Factors for North America
- 9.1.1. United States
- 9.1.2. Canada
9.2. European Outboard Engine Market Sales Analysis - Engine Type| Fuel Type| Ignition Type| Application ($ Million)
Macroeconomic Factors for Europe
- 9.2.1. UK
- 9.2.2. Germany
- 9.2.3. Italy
- 9.2.4. Spain
- 9.2.5. France
- 9.2.6. Russia
- 9.2.7. Rest of Europe
9.3. Asia-Pacific Outboard Engine Market Sales Analysis - Engine Type| Fuel Type| Ignition Type| Application ($ Million)
Macroeconomic Factors for Asia-Pacific
- 9.3.1. China
- 9.3.2. Japan
- 9.3.3. South Korea
- 9.3.4. India
- 9.3.5. Australia & New Zealand
- 9.3.6. ASEAN Countries (Thailand, Indonesia, Vietnam, Singapore, And Other)
- 9.3.7. Rest of Asia-Pacific
9.4. Rest of the World Outboard Engine Market Sales Analysis - Engine Type| Fuel Type| Ignition Type| Application ($ Million)
Macroeconomic Factors for Rest of the World
- 9.4.1. Latin America
- 9.4.2. Middle East and Africa

10. Company Profiles

10.1. American Honda Motor Co., Inc.
- 10.1.1. Quick Facts
- 10.1.2. Company Overview
- 10.1.3. Product Portfolio
- 10.1.4. Business Strategies
10.2. Aquawatt Mechatronik und Yachtbau
- 10.2.1. Quick Facts
- 10.2.2. Company Overview
- 10.2.3. Product Portfolio
- 10.2.4. Business Strategies
10.3. Ashton Marine Services Ltd.
- 10.3.1. Quick Facts
- 10.3.2. Company Overview
- 10.3.3. Product Portfolio
- 10.3.4. Business Strategies
10.4. Cox Powertrain Ltd.
- 10.4.1. Quick Facts
- 10.4.2. Company Overview
- 10.4.3. Product Portfolio
- 10.4.4. Business Strategies
10.5. Evinrude (Bombardier Recreational Products Inc.)
- 10.5.1. Quick Facts
- 10.5.2. Company Overview
- 10.5.3. Product Portfolio
- 10.5.4. Business Strategies
10.6. Elco Motor Yachts
- 10.6.1. Quick Facts
- 10.6.2. Company Overview
- 10.6.3. Product Portfolio
- 10.6.4. Business Strategies
10.7. Goldenmotor
- 10.7.1. Quick Facts
- 10.7.2. Company Overview
- 10.7.3. Product Portfolio
- 10.7.4. Business Strategies
10.8. LEHR LLC.
- 10.8.1. Quick Facts
- 10.8.2. Company Overview
- 10.8.3. Product Portfolio
- 10.8.4. Business Strategies
10.9. Mercury Marine (Brunswick Corp.)
- 10.9.1. Quick Facts
- 10.9.2. Company Overview
- 10.9.3. Product Portfolio
- 10.9.4. Business Strategies
10.10. Mjr Corp.
- 10.10.1. Quick Facts
- 10.10.2. Company Overview
- 10.10.3. Product Portfolio
- 10.10.4. Business Strategies
10.11. OXE Marine AB
- 10.11.1. Quick Facts
- 10.11.2. Company Overview
- 10.11.3. Product Portfolio
- 10.11.4. Business Strategies
10.12. Pure Watercraft, Inc.
- 10.12.1. Quick Facts
- 10.12.2. Company Overview
- 10.12.3. Product Portfolio
- 10.12.4. Business Strategies
10.13. Suzhou Parsun Power Machine Co., Ltd.
- 10.13.1. Quick Facts
- 10.13.2. Company Overview
- 10.13.3. Product Portfolio
- 10.13.4. Business Strategies
10.14. Selva S.p.A.
- 10.14.1. Quick Facts
- 10.14.2. Company Overview
- 10.14.3. Product Portfolio
- 10.14.4. Business Strategies
10.15. Suzuki Marine USA, LLC.
- 10.15.1. Quick Facts
- 10.15.2. Company Overview
- 10.15.3. Product Portfolio
- 10.15.4. Business Strategies
10.16. Tohatsu Corp.
- 10.16.1. Quick Facts
- 10.16.2. Company Overview
- 10.16.3. Product Portfolio
- 10.16.4. Business Strategies
10.17. Torqeedo GmbH
- 10.17.1. Quick Facts
- 10.17.2. Company Overview
- 10.17.3. Product Portfolio
- 10.17.4. Business Strategies
10.18. Woodpecker Machines India Private Ltd.
- 10.18.1. Quick Facts
- 10.18.2. Company Overview
- 10.18.3. Product Portfolio
- 10.18.4. Business Strategies
10.19. Yamaha Motor Co., Ltd.
- 10.19.1. Quick Facts
- 10.19.2. Company Overview
- 10.19.3. Product Portfolio
- 10.19.4. Business Strategies
10.20. Yanmar Marine International B.V.
- 10.20.1. Quick Facts
- 10.20.2. Company Overview
- 10.20.3. Product Portfolio
- 10.20.4. Business Strategies