The global outboard boat market is anticipated to grow at a CAGR of 6.0% during the forecast period (2024–2031). According to the National Marine Manufacturing Association’s (NMMA) 2023 Economic Impact Study, annual US sales of boats, marine products, and services are estimated to total $42 billion in 2019. Recreational boating has a $230.3 billion annual economic impact on the US economy, which includes direct, indirect, and induced spending. Additionally, as per the NMMA 2021, Recreational Boating Statistics, there are around 11,834,500 registered boats, supporting 812,558 direct and indirect jobs in the US. This represents a prospering and favorable condition for the growth of the outboard boat market.
Further, owing to the rising disposable incomes coupled with the increased demand for recreational boating activities is another factor propelling the market growth. According to the European Commission (EC), the disposable income of households in the European Union (EU) grew in total by 14% between 2000 and 2009 and by 11% between 2013 and 2019. In 2020, the growth rate was 0.6%, following the impact of the COVID-19 pandemic. The increased disposable income is accompanied by surging demand for tourism, which in turn is propelling the growth of the market. Accordingly, market players are capitalizing on this trend by introducing innovative and versatile boat models to enhance the boating experience and gain a competitive advantage over other players. For instance, in January 2023, Brunswick Corp. unveiled Veer, a new boat brand focused on electric propulsion, targeting younger and more diverse boaters. The X13, a 13-foot multi-tool vessel powered by Mercury Avator electric propulsion systems, was also introduced at CES 2023. Additionally, in April 2023, Japanese giant Suzuki announced a $31.8 billion investment by 2030, aiming to reduce CO2 emissions by 40% in vehicles and outboards. Suzuki plans to debut a new line of electric outboards by 2024.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Type
- By Application
- By Thrust
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- includes Campion Marine Inc., CANTIERI CAPELLI SRL, MAHINDRA POWEROL, Malibu Boats, LLC, Polaris Inc., and others.
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Outboard Boat Market Report Segment
By Type
- Electric boat
- LP Gas Boat
- Diesel Boat
By Application
- Commercial
- Recreational
By Thrust
- Portable
- Mid-range
- High Power
Outboard Boat Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Campion Marine Inc.
- CANTIERI CAPELLI SRL
- MAHINDRA POWEROL
- Malibu Boats, LLC.
- Polaris Inc.
- Pure Watercraft, Inc.
- Suzuki Motor Corp.
- Times Marine Company Ltd
- Tohatsu Corp.
- White River Marine Group
- Yamaha Motor Co., Ltd.
- ZODIAC MILPRO
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