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European Outboard Engine Market size to cross $2.6 Bn by 2027

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European Outboard Engine Market size is predicted to reach USD 2.6 billion by 2027, according to a latest forecast report by Graphical Research. Growth of the industry is owing to the increasing demand for commercial and recreational boats in the region.

The boating industry has a significant impact on the environment and the economic growth of Europe. The increasing sales of recreational boats is driving the economy and it produces around Euros 20 Bn in annual revenue. The popularity of recreational boating in several countries of Europe has been a major driving factor for the outboard engine market. The most common recreational activities include fishing, traveling, and water skiing, among others. Additionally, a range of boats, including sailboats, personal watercraft, sterndrive boats, and inboard & outboard boards are witnessing increasing sales figures.

The demand for new vehicles is escalating due to a range of economic growth factors, including boosting consumer confidence, growing consumer spending power, and people spending quality time with friends and family through recreational activities. Considering this, manufacturers have been shifting their focus towards the development of new vehicle designs that suits the changing consumer preference in recent times. The new marketing approaches have been bringing out new buyers, especially for boats for fishing and watersports.

The commercial application segment is expected to exhibit a CAGR of around 5.7% between 2021 and 2027. The growth is attributed to the rising aquaculture production in the region. The increasing demand for seafood and surging sales of commercial marine fleets are further fueling the demand for commercial outboard engines.

Browse detailed statistical insights from the report, “Europe Outboard Engines Market Size By Fuel Type (Gasoline, Diesel, Electric), By Ignition Type (Manual, Electric), By Engine Type (Electric, 2-stroke, 4-stroke), By Power (High, Medium, Low), By Application (Recreational, Commercial, Military), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2017 - 2027” along with the table of contents (ToC) @

https://www.graphicalresearch.com/industry-insights/1676/europe-outboard-engines-market

Among the engine types, the electric outboard engine is the fastest-growing segment and will grow at 6.2% CAGR till 2027. The growth of electric engines is primarily due to the changing consumer preference and stringent environmental regulations in Europe. Moreover, government initiatives to replace fossil fuels with renewable energy sources are presenting comprehensive growth opportunities. Moreover, manufacturers are also focused on developing electric motors to improve their product portfolio through several strategic initiatives, such as mergers and acquisitions.

However, the pandemic caused by covid-19 disease forced governments to impose nationwide lockdowns which severely affected the manufacturing operations. The increasing unemployment and plummeting economy led to a reduction in consumer spending power. Thus, a downfall in the recreational industry was observed primarily due to fewer people going out for such activities. Cumulatively, all these factors had a negative impact on the industry growth and market size collapsed in the initial quarters of 2020. Therefore, initiatives taken by the Europan Union to revive the region’s growth by injecting money into the economy, are likely to take the market into the recovery phase.

Some of the prominent manufacturers include SECO GmbH, Yamaha Motor Co., Ltd., Suzuki Motor Corporation, Torqeedo GmbH, Honda Motor Co., Ltd., DEUTZ AG, E.P. Barrus Ltd., Marine Tech, Vector Outboards, and Selva S.p.A.

The European outboard engine market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:

Europe Market, By Ignition Type

  • Electric
  • Manual

Europe Market, By Engine Type

  • 2-stroke
  • Electric
  • 4-stroke

Europe Market, By Fuel Type

  • Diesel
  • Electric
  • Gasoline

Europe Market, By Power

  • Medium
  • High
  • Low

Europe Market, By Application

  • Commercial
  • Recreational
  • Military

The above information has been provided for the following countries:

  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Netherlands
    • Norway
    • Russia
    • Rest of Europe