Maritime industry has witnessed significant changes in the past couple of years. Presently, the industry appears to be partly driven by a paradigm shift in consumer demand from cruisers to day boats. Owing to excellent versatility and ease of use, most of the small vessels are equipped with marine outboard engines. However, marine outboard engines with high end features comes with an inflated price tag, a budding challenge faced by the boat builders.
Outboard engine manufactures are capitalizing significantly on R&D endeavors to strike a perfect balance between cost and features .Although new outboard engines may be pricier than its predecessors, it typically incorporates technologies that enhance fuel economy and reduce service costs, thereby lowering the overall cost of ownership. Owing to the multiple advantages of marine outboard engines, coupled with rapid technological advancements and growth of maritime tourism, the market is foreseen to auger well over the forecast period, reveals Fact.MR. The report estimates that the marine outboard engine market will witness a fourfold growth and reach a valuation of ~US$ 5.3 Bn by the end of 2029.
For More Insights Into The Market, Request a Sample of this Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=4339
Segmentation
By Region
- North America
- Europe
- East Asia
- South Asia
- Latin America
- Oceania
- Middle East & Africa
By Engine Type
- Two Stroke Carburetted
- Two Stroke Electronic Fuel Injection
- Two Stroke Direct Injection System
- Four Stroke Carburetted
- Four Stroke Electronic Fuel Injection
Get Customization Copy of this Report – https://www.factmr.com/connectus/sample?flag=RC&rep_id=4339
Marine Outboard Engine Market Boat Type Insights:
The marine outboard engines used in fishing vessels is projected to expand at CAGR of 1.7% to be value at more than US$ 1.7 Bn by the end of forecast period. Engines used in fishing vessels account for the majority share in the global marine outboard engines market.
However, the demand for these engines lowered significantly in the last fiscal quarter due to a major slump in the commercial fishing industry amid the COVID-19 pandemic. This is attributed to the substantially collapsed demand for seafood due to restaurant closures, generating a dormancy in the fishing industry.
Essential Takeaways from the Marine Outboard Engine Market Report
- Comparison of prominent players operating in the Marine Outboard Engine Market.
- Recent developments and key strategies adopted by market players.
- Study of the micro and macro-economic growth indicators.
- Impact of the various factors on the value chain of the Marine Outboard Engine Market.
- Growth opportunities for emerging market players in various regional markets.
- Current trends influencing the scenario of the Marine Outboard Engine Market.
Important queries related to the Marine Outboard Engine Market addressed in the report:
- Who are the most prominent players in the Marine Outboard Engine Market?
- What are the factors that are likely to hinder the growth of the Marine Outboard Engine Market during the forecast period (2021-2031)?
- Why is the concentration of tier-1 companies high in specific region?
- How are the soaring prices of raw materials impacting the demand for keyword?
- Why are market players eyeing opportunities in particular region?
Why Choose Fact.MR
- One of the most established market research companies in India
- Round the clock customer support for clients across the globe
- Tailor-made reports available without additional costs
- Analysis of markets in over 150 countries
- Data collected from credible primary and secondary sources
For More Insights- https://www.einpresswire.com/article/557146132/asia-to-account-for-40-of-the-market-share-of-nano-lubricants-over-the-forecast-period
About Fact.MR
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: [email protected]
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates