North American Outboard Engine Market size is projected to cross USD 8.1 billion by 2028, according to a latest forecast report by Graphical Research.
Continuous expansion of the industry is supported by consecutive y-o-y growth for the recreational boating sector, aligned with the surging demand for outboard engines for military and commercial applications.
The demand for recreational boating in the United States and Canada surged during the coronavirus realm. The recreational boating industry witnessed an uptick in the United States owing to the entry of first-time boat buyers in the market. According to 2020 statistics by National Marine Manufacturers Association (NMMA), nearly 415,000 first-time boat buyers the market in 2020. Such statistics are poised to open new avenues for outboard engines industry across the North America.
In addition, increasing sourcing of outboard engines to benefit the fisheries and other sectors would complement the regional market growth curve. Say for example, the Cuban government recently offered a nod to import outboard motors of less than 10 horsepower capacity for use on small boats to support the country’s fishermen.
The United States is anticipated to emerge as a key revenue pocket for North America market over the foreseeable period. The regional market would surpass a valuation of USD 7,060 million by 2028 on grounds of the high economic growth, increasing disposable incomes, and rising customer interest towards recreational activities.
The military application segment will grow at a CAGR of 4% through 2028, owing to support the use of outboard engines for rescue operations. Constant upgradations in product designs and launch of new outboard motors would supplement the market expansion.
Browse detailed statistical insights from the report, “North America Outboard Engines Market Forecast 2028 By Ignition Type (Manual, Electric), By Engine Type (Electric, 2-stroke, 4-stroke), 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” along with the table of contents (ToC) @
The 4-stroke outboard engines segment would accrue positive gains across the overall market. This can be attributed to the major benefits offered by these including low emissions, optimum power, enhanced fuel mileage, increase smooth operation, and lower sound level.
The North America diesel outboard engines segment would gain appreciable returns over the forthcoming years, credited to the umpteen advantages of diesel outboard engines over gasoline ones like, nearly 25-42% less consumption of fuel, offers unparalleled torque load and exceptional midrange power, and ease of installation. Diesel outboard motors could be used across any sectors including government for military and defense, commercial, and fishing expeditions.
Considering the power spectrum, North America outboard engines industry would record stellar growth from small and medium powered engines. The expansion can be reasoned to the growing demand for these boats and significant rise in disposable incomes of the people across the North American economies.
The outboard engine for North American market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2017 to 2028, for the following segments:
North America Market, By Engine Type
North America Market, By Fuel Type
North America Market, By Power
North America Market, By Ignition Type
North America Market, By Application
The above information has been provided for the following countries: