Marine Outboard Engine Market: Snapshot
The increasing adoption of outboard engines for both medium and small watercrafts is expected to aid in expansion of the market for marine outboard engine during the forecast period, 2020-2030. Outboard engines are propulsion systems elevated at the bottom of watercrafts. It consists of propeller, engine, and gearbox and is available in different power outputs. The rise in infrastructural development and increasing number of cargo transport activities are likely to aid in expansion of the market for marine outboard engines in the coming years.
The report on the global marine outboard engine market is based on a comprehensive overview of the market, its growth and restraining factors, and future outlook. It also emphasizes on the current trends, relevant innovations and upcoming opportunities that the market may face in the coming years. Furthermore, the current impact of the novel COVID-19 pandemic is thoroughly discussed in the report with special emphasis on the marine outboard engine market. The possibility of revenue generation by the adoption of various strategies is discussed in the report.
The global marine outboard engine market is categorized on the basis of power, ignition, engine, boat type, and regions. In terms of power, the market is grouped into three subcategories namely less than 30HP, between 30HP to 100 HP, and above 100 HO. With respect to segmentation by ignition, the market is bifurcated into manual, and electrical. Further categorization of boat type segment consists of special purpose boats, recreational vessel, and fishing vessel.
Are you looking for building your own startup? Get an exclusive PDF brochure for this report!
Marine Outboard Engine Market: Nature of Landscape
The nature of the global marine outboard engine market is highly competitive on account of the presence of many players. Companies like Honda Motor Ltd., Suzuki Motor Corporation, BRP Inc., Yamaha Motors Co., Ltd, have an upper hand in the competition on account of brand presence. Other players functioning in the market include DEUTZ AG, Tohatsu Corporation, Kräutler Elektromaschinen GmbH, Mahindra and Mahindra, Parsun Power Machine Co. Ltd., and others are in an intense competition in order to gain a significant position in the market. Some of the key strategies adopted by players include merger and acquisition, new product launch, upgrades, infrastructural development, and company collaborations.
Marine Outboard Engine Market: Current Trends
The increasing number of fishing activities is a key trend prevalent worldwide that is boosting the global marine outboard engine market growth. In addition to this, the rising popularity of private recreational activities in marine life such as yacht parties, business conferences on ships, and night parties for the youth are the other trends impacting the market in a positive way.
However, the current COVID-19 pandemic has created major barriers on the marine outboard engine market in terms of growth and revenue generation. This is owing to the imposition of lockdown and halt on all international and cross-water operations and cargo shipments. Besides this, the suspension of business also brought about major challenges to the growth of the market. Nevertheless, the rising popularity of seafood cuisines all over the world led to an increase in its demand, thereby creating lucrative growth opportunities for the market in the coming years.
Marine Outboard Engine Market: Geographical Insights
Regionwise, North America is holding the dominant share in the global marine outboard engine market on account of the worldwide sales of boats and yachts, especially in the United States. Additionally, the emerging marine industry is further expected to help this region continue dominating the market in the forecast period. On the other side, the market in Asia Pacific will attract significant revenue in the coming years on account of the booming sea trade and the increasing adoption of event organizations and parties on yachts and ships.
For Right Perspective & Competitive Insights on Marine Outboard Engine Market, Request for a Sample
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players 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.