Market Size of Outboard Motor Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 6.11 Billion |
| Market Size (2029) | USD 7.37 Billion |
| CAGR (2024 - 2029) | 3.79 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Outboard Motor Market Analysis
The Outboard Motor Market size is estimated at USD 6.11 billion in 2024, and is expected to reach USD 7.37 billion by 2029, growing at a CAGR of 3.79% during the forecast period (2024-2029).
Rising maritime activities and rising demand for small and medium-powered boats from recreational activities are expected to drive demand in the market studied. Furthermore, the growing demand for large horsepower outboards for rescue operations and commercial activities will drive the market during the forecast period.
Growth in recreational boating and the increasing popularity of pontoon boats and saltwater fishing vessels represent significant growth opportunities for the market studied.
Moreover, with increased production of yachts and leisure boats, regions such as North America and Europe will see significant growth in the outboard engine market. Rising watersports events and government initiatives to promote coastal tourism will further support market growth.
However, high outboard engine prices will hinder market growth during the forecast period.
