Outboard Engines Market, by Product Type (Two Stroke Engine and Four Stroke Engine), by Engine Type (Low power (>50 HP), Mid power (50 HP-150 HP), and High power (<150 HP)), by Fuel Type (Gasoline Engine and Diesel Engine), by Boat Type (Fishing, Recreational, and Special purpose), and by Region - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
- Report code : CMI211181 |
- Industry :
Automotive and Transportation
- To Be Published : Apr 2019 |
- Format :
An outboard engine is a system used in boats. It comprises of self-contained components including gearbox and jet drive. These outboard engines are essential motorized method to drive small watercraft. It autonomously controls steering of the boat, in turn controlling the direction of driving.
The key factor associated with growth of the global outboard engines market mainly depends on the need for small and medium-powered boats. These are involved in activities such as fishing and transportation including holidays and relaxation. Sales of small and medium-sized boats are expected to make a positive impact on global outboard engines market. According to Coherent Market Insights analysis, in 2016, total sales of recreational boats were valued over US$ 3.5 billion. Within that value the sales in the U.S. individually valued over US$ 88 million in 2016. Coastal tourism activities in North America and Europe region has propelled the sales of boats, which is further expected to boost the growth of the global outboard engines market during the forecast period. Furthermore, advancement in technologies such as two-stroke indirect fuel injection, four-stroke fuel injection, four-stroke throttle body fuel injection, and electronic control modules to augment fuel economy benefits to the fleet owners of the ships.
However, high cost of new boats, inclination of consumers towards buying pre-owned boats as the lifespan of a boat is over 12 years, need to upgrade engine based on emission standards are the factor restraining sales of new boats. Less participation from younger generation is also expected to restrict the growth of the global outboard engines market.
Outboard Engines Market Taxonomy
On the basis of product type, the global outboard engines market is segmented into:
- Two Stroke Engine
- Four Stroke Engine
On the basis of engine type, the global outboard engines market is segmented into:
- Low power (>50 HP)
- Mid power (50 HP-150 HP)
- High power (<150 HP)
On the basis of fuel type, the global outboard engines market is segmented into:
- Gasoline Engine
- Diesel Engine
On the basis of boat type, the global outboard engines market is segmented into:
- Fishing
- Recreational
- Special purpose
Outboard Engines Market: Regional Insights
The global outboard engines market has been segmented on the basis of regions into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market for outboard engines in North America and Europe accounted for the largest market share in 2016, owing to the popularity of low powered engines. Low powered boats are affordable and consume less fuel, which makes them best suited for fishing industry.
The total sale of boats in the U.S. accounted largest share in 2016. According to Coherent Market Insights analysis, during the period of 2012 to 2016, the number of boats sold was around 29,489 units. Maximum sales came from watercraft, fishing boats, and fiberglass runabouts. The greatest portion of this value came from sales of boats with a length between 36 and 45 feet.
Outboard Engines Market: Competitive Background
Major players operating in the global outboard engines market include Yamaha Motor Company Ltd., Suzuki Motor Corporation, Honda Motor Co., Ltd., Tohatsu America Corp., Mudd Hog Mud Motors, LLC, Brunswick Corporation, Evinrude Outboard Motors, Torqeedo GmbH, Seven Marine LLC, Powertec Group, Hidea Power Machinery Co., Ltd., and Elco Motor Yachts, LLC.
Research Methodology
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
- Primary Research (Trade Surveys and Experts Interviews)
- Desk Research
- Proprietor Data Analytics Model
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
- National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
- Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
- Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
- Trade association, National and international media and trade press.
- Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
- Scientific journals, and other technical magazines and whitepapers.
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Data Standardization:
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
- Micro-economic indicators
- Macro-economic indicators
- Environmental indicators
- Socio-political indicators
- Technology indicators
Data Processing
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
Data Validation
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
- It provides first-hand information on the market dynamics, outlook, and growth parameters.
- Industry experts validates the estimates which helps the company to cement the on-going research study.
- Primary research includes online surveys, face-to face interviews, and telephonic interviews.
The primary research is conducted with the ecosystem players including, but not limited to:
- Raw Material Suppliers
- Manufacturers
- System Integrators
- Distributors
- End-users
Share
Choose License Type
"How Can I Help You" ?
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.
[email protected]Key Benefits
Custom Research Solution
Talk to our research consultant to design an exclusive report as per your research needs.
Customer Fulfilment
We aim to fulfil client's research demands with tailored research solutions.
Quick Turnaround Time Reports
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
360-degree Approach
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
Assured Quality
We strive to provide most accurate and reliable research findings in our research reports.