Leisure boat engines are internal combustion engines used to power leisure boats (also known as pleasure crafts) such as power boats and yachts. The engine is a primary system for any self-propelled boat. Leisure boat engines may be powered by gasoline, diesel, or other alternative fuels. Each type of fuel offers a specific advantage over another, depending upon the applications and boat type. Leisure boats are widely popular for family outings, personal use, fishing, and recreational sports. These boats are usually used in and around lakes, bay areas, local rivers, and other water bodies.
Advancement in technology, rise in public spending, increase in disposable income, growth in economies, and expansion in the tourism industry are expected to propel the demand for leisure boats, thus directly creating substantial opportunities for leisure and recreational boat engine manufacturers. Furthermore, the rise in usage of leisure boats for offshore fishing activities, family outings, and adventure boating is anticipated to boost the demand for leisure boat engines. However, implementation of stringent regulations on emissions and pollutants, which emanate from these engines, is hampering the market. Furthermore, safety is another key factor that influences the market dynamics. Fuel storage and handling on board is also of major concern. Thus, renewable alternatives such as hybrids are in the development phase.
Based on the boat type, the leisure boat engine market can be segmented into powerboats, power yachts, sailboats, and other motorized leisure boats. The powerboats segments is anticipated to account for substantial share, especially in coastal regions of the U.S. and Europe. In terms of fuel type, the market can be divided into gasoline, diesel, and other fuels. The gasoline variant is largely used is smaller sized boats, while diesel is preferred in larger boats. Based on the position of engine, the leisure boat engine market can be bifurcated into inboard engine and outboard engine. Outboard engine is widely used as it is easy to steer. It can also be completely lifted out of water when not in use. Based on the engine power output, the leisure boat engine market can be classified into up to 30 HP, 30 to 60 HP, 60 to 150 HP, and 150 HP & above. In terms of volume i.e. number of units, the up to 30 HP segment is anticipated to hold substantial market share; however, in terms of revenue, the other segments are anticipated to offer better growth opportunities in the global market.
In terms of geography, the global leisure boat engine market can be classified into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. North America and Europe are the major markets for leisure boat engine, led by the presence of key leisure boat manufacturers such as Bayliner, Brunswick Boat Group, and Everglades Boats. Asia Pacific is also a prominent region of the leisure boat engine market owing to the rise in disposal income and spending, which has led to the production of new leisure boats in the region. Demand for leisure boats in tourist destinations of the world such as Dubai, Thailand, Australia, and South Africa is anticipated to increase significantly in the near future.
Major players operating in the global leisure boat engine market include Brunswick Corporation, Yanmar, Volvo Penta, PCM Engines, Cummins, Barrus, and Caterpillar. These companies hold significant share of the leisure boat engine market. Thus, the leisure boat engine market is highly consolidated and experiences intense competition.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.