Outboard Engines Market Analysis

Ignition Type (Electric, Manual)

The global outboard engines market is segmented and analyzed for demand and supply by ignition type into electric and manual. Between these two types, electric segment is estimated to gain the largest market share by 2037. The growth of this ignition type can be attributed to the improvements made to the batteries used in electric motors. For instance, as of 2021, lithium batteries have largely replaced the traditional lead-acid batteries in electric motors worldwide. The efficiency of the lead-acid batteries was only up to 81%, whereas, that of the lithium batteries has been observed to be 99%. Lithium batteries have also been observed to be more eco-friendly than lead-acid ones. They are also more compact and lighter compared to traditional batteries. However, they boast a battery life of about 5 times longer than the traditional ones. Electric motors are easier to operate when compared to manually ignited motors. Moreover, they also ensure a better sailing experience without noise, vibrations, and gas fumes, and it is projected to surge the growth of the segment in the market.

Application (Commercial, Recreational, Military)

The global outboard engines market is also segmented and analyzed for demand and supply by application into commercial, recreational, and military. Of these three applications, the recreational application segment is expected to garner a significant share. The increase in personal disposable income is a major factor driving the contribution of recreational boating in the market growth. With the rising disposable income, a significant number of the worldwide population is choosing watersports for recreation. For instance, it is estimated that over 139 million people participate in watersports annually all over the world. The U.S. and Canada alone have more than 99 million of these people. Further, Europe and Australia too have a sizable population that contributes to the growth of watersports tourism and, thus, to the market for outboard engines. The other factors that lead to high demand for outboard engines are the implementation of autonomous technology in marine vessels and the wide presence of a well-developed boat manufacturing industry worldwide.

Our in-depth analysis of the global market includes the following segments: