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Europe Outboard Engine Market Revenue to Surpass USD 2.6 Billion by 2027

Author : Ronak Bora | Published Date : 2021-09-01 

Europe outboard engine market share is expected to be worth USD 2.6 billion by 2027. The following notable four factors are defining the market trends. The rising demand for commercial and recreational boats is pushing Europe outboard engine market size. An outboard engine is a portable, self-contained device consisting of a gear box and a propeller that is mounted to a boat's stern. With several technological advancements over the past decade, outboards nowadays are powerful, quiet, dependable, and simple to service, with good power-to-weight ratios and remarkable corrosion resistance.

Yamaha Motor Co. Ltd., SECO GmbH, Suzuki Motor Corporation, Honda Motor Co., Ltd., Torqeedo GmbH, DEUTZ AG, E.P. Barrus Ltd., Vector Outboards, and Marine Tech are among the key outboard engines manufacturers in Europe.

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Growing demand for electric engines

Europe outboard engine market share from the electric outboard engines segment is expected to grow at a CAGR of more than 6.2% through 2027, driven by the increasing usage of renewable energy. The European government is undertaking several programs to reduce the carbon footprint in order to aid the transition.

Regional manufacturers are concentrating on speeding up manufacturing of electric engines as consumers become increasingly concerned about the environment and have been purchasing eco-friendly items. For instance, the Mercury 20 hp FourStroke designed for fishermen, recreational boaters, and commercial operators, has battery-free electronic fuel injection for dependable starting, rapid throttle response, robust performance, and excellent fuel efficiency.

Development of technologically advanced engines

The demand for new boats is increasing with rising consumer confidence and purchasing power. With a significant rise in income and spending levels, more individuals are focusing on spending leisure time in recreational activities.

Companies have recently shifted their priority to the creation of innovative designs that meet evolving consumer preferences. For instance, the E-Motion 180, a product of Vision Marine Technologies, claims to be the “world's most powerful electric outboard,” with 180-horsepower and zero emissions that can drive boats up to 60 mph. According to the Quebec-based business, the first E-Motion 180 units are planned to be delivered in the fourth quarter of 2021.

Outboard engines in commercial applications

The commercial application is the fastest-growing segment of Europe outboard engine market, with a 5.5% CAGR expected through 2027 due to increased use across fisheries. The emphasis of boat makers on innovative designs with aesthetic appeal is working as a vital driver impacting the Europe outboard engine market outlook. For instance, the Yamaha T9.9 is among the lightest and smallest 9.9 hp outboard motors on the market, making it a perfect kicker outboard for a variety of boats.

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Fishing, tourism, and water skiing are among the most popular recreational activities in Europe. However, the boating industry has a considerable influence on the environment. The growing sales of recreational boats are driving the economy and generate over Euros 20 billion annually. The popularity of recreational boating in European nations has been a significant accelerator of the Europe outboard engine market forecast in the region.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Research Methodology

1.2    Market estimation & forecast parameters

1.3    List of Data sources

1.3.1    Primary

1.3.2    Secondary

Chapter 2   Executive Summary

2.1    Europe Outboard Engine market snapshot

Chapter 3   Europe Outboard Engines Industry Insights

3.1    Industry coverage

3.2    Industry size and forecast, 2016 – 2026

3.3    Industry ecosystem analysis

3.3.1    Vendor matrix

3.4    Future trends

3.4.1    Innovation Landscape

3.5    Raw material analysis

3.6    Regulatory norms & directives

3.7    Drivers & restraints

3.7.1    Drivers

3.7.2    Restraints

3.8    Application growth mapping

3.9    Industry analysis: Porter’s

3.10    Competitive benchmarking

3.10.1    Strategy dashboard

3.11    PEST analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1676/europe-outboard-engines-market

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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