Global Outboard Motor Market to reach USD 11.19 billion by 2027.Global Outboard Motor Market is valued approximately USD 9.1 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 3% over the forecast period 2021-2027. An outboard motor is a type of boat propulsion system which comprises of self-contained engine, gearbox, shaft, or jet pump that is located on the outside of the bow. Increasing demand for boating and other water sports and increasing demand from the tourism and recreational sectors are factors contributing to the market growth. For instance: according to Statista, the tourism industry is expected to grow to USD 1311.1 Billion, by the year end 2021from USD 1094.8 Billion, in the year 2020. However, decline in the recreational activities and increasing availability of the substitutes in the outdoor motors impedes the growth of the market over the forecast period of 2021-2027. Also, increasing technological advancements and increase in the disposable income is likely to increase the growth of the market in the forecasting period.

The regional analysis of global Outboard Motor market includes Asia Pacific, North America, Europe, Latin America and Rest of the World for analysis and estimation, North America is the significant region in terms of largest market share, across the world owing to increase in the disposable income Whereas, Europe is anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as increase in the recreational activities would create lucrative growth prospects for the Outboard Motor market across European region.

Major market player included in this report are:
Volvo Penta
Yamaha Motor Co
Honda Motors Co. Ltd
Suzuki Motor Corporation
LEHR LLC
Tohatsu Corporation
DEUTZ
Mercury Marine
Brunswick Corporation
BRP Inc




The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Thrust:
Portable
Mid-range
High power
By Application type:
Commercial
Recreational
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Outboard Motor Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors