Industry Background:
The outboard motors are designed to be equipped to the stern of the vessel. Of late, manufacturers are focusing on the development of compact designs and lightweight motors for the watercraft and leisure boats. In the current scenario, the boating industry continues to grow, especially in developed economies, with combined sales of boats, engines and accessories reaching levels across North America and European countries.This growth is primarily driven by Of late, the popularity of outboard motors is at an all-time high. Over the past couple of years, recreational boating and leisure boating activities continue to entice the large volume of participants, especially in developed nations. Moreover, even on various types of boats that have traditionally been built with stern-drive and inboards includes runabouts and cruisers, more and more outboard models are being introduced every year across the world..
Globally, a noticeable market trend is evident Growing Adoption of Electric Propulsion Motor. Major Manufacturers, such as Torqeedo GmbH (Germany), Johnson Outdoors Inc. (United States), MotorGuide (United States), Honda (Japan), Mercury Marine (United States), Suzuki Motor Corporation (Japan), Yamaha Motor Corporation (Japan), Seven Marine, LLC (A Volvo Penta Company) (United States), Aquawatt Mechatronik und Yachtbau (Austria), Elco Motor Yachts (United States), Krautler Elektromaschinen GmbH (Austria) and Ray Electric Outboards (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In July 2019, Lowrance and MotorGuide have announced to continue their partnership after signing a new cooperation agreement effective immediately. Both brands will continue to collaborate on sonar compatibility and Chartplotter integration between MotorGuide trolling motors and Lowrance sonar and Chartplotter technologies.
Market Drivers
- Of late, the popularity of outboard motors is at an all-time high. Over the past couple of years, recreational boating and leisure boating activities continue to entice the large volume of participants, especially in developed nations. Moreover, even on various types of boats that have traditionally been built with stern-drive and inboards includes runabouts and cruisers, more and more outboard models are being introduced every year across the world.
Market Trend
- Growing Adoption of Electric Propulsion Motor
Restraints
- High Cost of Electric Outboard Motors
Opportunities
Increasing Demand for Larger Boats Globally and Expansion of Product Portfolio to Include Alternative Fuel Engines by Major Market Players
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Outboard Motors Study Sheds Light on
— The Outboard Motors Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Outboard Motors industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
— Where Outboard Motors industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
— How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.