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    Europe Outboard Engines Market Forecast 2028 By Engine Type (Electric, 2-stroke, 4-stroke), By Ignition Type (Manual, Electric), By Fuel Type (Gasoline, Diesel, Electric), By Power (High, Medium, Low), By Application (Recreational, Commercial, Military), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
    Published Date: July 2022   |   Report ID: GR1676   |   Delivery: PDF  Request Free Sample

    Europe Outboard Engines Market size crossed USD 1940 million in 2021 and is anticipated to exhibit a CAGR of 4% between 2022 and 2028. One of the primary factors largely contributing to the industry expansion is the substantial rise in tourism and recreational activities, led by the increasing disposable incomes and mounting desire to travel the outdoors.

    Europe Outboard Engines Market

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    The ongoing transition across the maritime industry has resulted in the growing demand for shipping and fishing activities. These activities require the utilization of highly efficient engines, boats, motors, and other marine equipment. 

    The increasing technological advancement across the marine sector driven by the efforts by companies and tech giants is expected to aid the industry landscape. Another factor positively influencing the industry dynamics is the increasing demand for commercial boats due to the proliferation of the aquaculture and seafood market.  

    In addition, the emerging trends of watersports and seaside trips have encouraged the development of advanced boating solutions to elevate the overall customer experience. This has contributed to the new product launches and rising investment in the marine sector.

    COVID-19 impact and analysis

    The sudden outbreak of COVID-19 took a toll on the Europe outboard engines market. The imposition of stringent lockdown measures resulting in travel and movement restrictions significantly hampered the travel and tourism sector, which passively impacted the industry growth. 

    The temporary shutdown of enterprises dealing in non-essential commodities severely impacted the supply chain management of marine equipment. Besides, the reducing leisure expenditure and economic downfalls caused a slump in outboard engine sales in Europe.

    However, with the fairly easing regulatory measures, increasing vaccinations, and the declining severity of the crisis, the market is expected to be back on track sooner. Furthermore, the improvement in economic growth and rising employment may boost the market expansion.

    Europe Market, By Fuel Type

    The electric fuel segment will surpass USD 250 million revenue by 2028, led by the growing popularity of EVs (Electric Vehicles) and rising concerns about reducing emissions and carbon footprints. These concerns over the years have resulted in the increasing installations and retrofits of electric-based outboard engines.  To that end, outboard engines with electric ignitions are also gaining more traction as opposed to manually operated ignitions.

    Europe Market, By Engine Type

    Electric engines are clean, silent, maintenance-free, and have no exhaust or fuel smells. Their installation on traditional boats is known to reduce their lifecycle costs. The increasing technical tie-ups between boat manufacturers and prominent OEMs may also define new growth prospects for the Europe market from the electric engine segment.

    Europe Market, By Application

    The commercial application segment may account for appreciable market share through 2028, due to increasing watersports and recreational marine activities. As per estimates by the European boating industry, over 48 million European citizens and a countless number of tourists regularly participate in recreational marine activities.

    Another factor majorly driving the segment expansion is the emerging middle-class populations, and rising family incomes have efficiently boosted tourism and leisure spending in the region. The increasing demand for boats with enhanced aesthetics and capabilities will further augment the market growth trajectory. 

    Europe Market, By Country

    Italy outboard engines market will gain a significant momentum during the forecast timeframe, attributed to the presence of numerous boating destinations and art cities like Rome, Venice, Milan, and Florence, depicting a positive outlook of the tourism and hospitality industry in the country. Additionally, the flourishing sea trade and aquaculture sector will further streamline the market expansion.

    Competitive Industry Landscape

    Major players involved in the market are Honda Motor Co., Ltd., Yamaha Motor Co., Ltd., SECO GmbH, Marine Tech, Suzuki Motor Corporation, Selva S.p.A., DEUTZ AG, E.P. Barrus Ltd., Vector Outboards, and Torqeedo GmbH.

    Frequently Asked Question(FAQ) :

    What is the Europe outboard engines market worth?
    The industry size for outboard engines in Europe had surpassed USD 1940 million in 2021 and is poised to record a CAGR of 4% between 2022 and 2028 owing to the expanding tourism and recreational activities along with the higher disposable incomes.
    How big is the Europe electric outboard engines sector?
    Demand for electric outboard engines is likely to exceed USD 250 million in revenue by 2028, owing to the rising popularity of electric vehicles and the escalating concerns about reducing emissions and carbon footprints.
    What parameters are driving the outboard engines industry growth in Italy?
    The market for outboard engines in Italy will observe significant inclination through 2028 due to the strong presence of numerous boating destinations and art cities like Rome, Venice, Milan, and Florence, and the expanding hospitality industry in the country.
    Who makes outboard engines in Europe?
    Honda Motor Co., Ltd., Yamaha Motor Co., Ltd., SECO GmbH, Marine Tech, Suzuki Motor Corporation, Selva S.p.A., DEUTZ AG, E.P. Barrus Ltd., Vector Outboards, and Torqeedo GmbH are some well-known outboard engines industry players in Europe.

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