Pune, 5, Dec 2022: According to Maximize Market Research, the Leisure Boat Engine Market size was valued at USD 5.25 Bn. in 2021 and the Leisure Boat Engine Market revenue is expected to grow at 6.2 % from 2022 to 2029, reaching nearly USD 8.49 Bn. The growing tourism is expected to drive the growth of the Leisure Boat Engine’s market.
Leisure Boat Engine Market Scope and Research Methodology
The MMR report on Leisure Boat Engine Market is a comprehensive analysis that covers trends and highlights prevailing in the Leisure Boat Engine Market, helping clients explore the opportunities and formulate strategies in the market. Analysis of key market players and new entrants is provided based on goods and services offered, revenue, financial status, portfolio, growth strategies, and regional presence. Recent developments regarding acquisitions and mergers, and the strategic stance of the companies with information on joint alliances give an accurate picture of the competitive landscape in the Leisure Boat Engine Market. To understand the products and services of the Leisure Boat Engine Market, segment-wise analysis is conducted by type, function and end-use industry equipped with factors affecting the market and current technological changes and innovations adopted. The report also explains in detail the drivers, challenges, restraints and challenges of the Leisure Boat Engine Market. Regional analysis of the market focusing on the local, regional and global levels is provided to prove as a guide for market followers and entrants to develop pricing and marketing strategies.
The bottom-up approach was used for market estimation and global market trend analysis. Data was collected employing both primary and secondary research methods for a large sample to get accurate inferences. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals were included in the primary methods. Secondary data was meticulously collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases. SWOT analysis was conducted to understand the strengths and weaknesses of key companies and PESTLE to grasp the various factors affecting the market. Thus, the report provides a complete overview of the Leisure Boat Engine Market Globally.
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Leisure Boat Engine Market Overview
Leisure boat engine is internal combustion engines used to power leisure boats for example power boats and yachts. The engine is a main system for any self-propelled boat. An essential component of any self-propelled boat is its engine. Engines for recreational boats can run on gasoline, diesel, or other alternative fuels. Depending on the applications and type of boat, each fuel type has a distinct advantage over the others.
Leisure Boat Engine Market Dynamics
Improvements in technology that results in the development and widespread use of connected boats are expected to drive market growth throughout the forecast period. The market is made up of manufacturers of boats and engines, independent dealers, service providers, and equipment suppliers.
Owing to several reasons, including the numerous investments made and the extensive research done by the leading companies in the market to develop and upgrade their portfolios, the market is expected to exhibit promising growth potential throughout the forecast period. Manufacturers are also concentrating on creating cutting-edge boat designs to pique consumers’ interest, particularly in the Gen-Z market. In the forecast years, market growth is expected to be fuelled by consumers’ increasing knowledge of the advantages of incorporating technology into traditional boats. The market is being hampered by the installation of strict laws on emissions and pollutants that come from these engines. Many boat engines are “unreliable.” While some boat engines are more dependable than others, there are frequent engine problems that arise from abuse, improper upkeep, and low-quality components. These all factors are hampering the leisure boat engine market.
Leisure Boat Engine Market Segmentation
by Fuel
- Gasoline
- Diesel
by Boat Type
- Motor yacht
- Powerboat
- Sailboat
by Purpose
- Personal
- Fishing
- Tourism
Based on Purpose, the market for leisure boat engines is anticipated to develop as a result of the
expanding tourism industry. Tourism is a social, cultural, and economic phenomenon when people
travel for leisure, business, or both to countries or places outside of their usual surroundings.
Increased disposable money, access to other locales, the desire to travel, among other factors,
have all contributed to tourism’s explosive expansion over the past ten years.
Leisure Boat Engine Market Key Competitors:
- Yanmar
- Volvo Penta
- Brunswick Corporation
- Yamaha Motors Co. Ltd.
- Cummins
- Barrus
- Caterpillar
- Malibu Boats Inc.
- Mitsubishi Marine Engines
- Yamaha Motor Company Limited
- Bavaria Yachts GmbH
- Johnson Outdoors Watercraft, Inc.
- Azimut Yachts
- Malibu Boats Inc.
- Beneteau Group
- Ferretti S.p.A.
- MasterCraft
- Hyundai Heavy Industries
- Groupe Beneteau
- Brunswick Corporation
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Key questions answered in the Leisure Boat Engine Market are:
- What is a Leisure Boat Engine?
- What is the growth rate of the Leisure Boat Engine Market over the forecast period?
- What is the nature of competition in the Leisure Boat Engine industry in developed economies and developing economies?
- Who are the key players in the Leisure Boat Engine Market?
- Who are the market leaders in Leisure Boat Engines in Europe?
- Who are the market leaders in Leisure Boat Engines in USA and Canada?
- Who are the market leaders in Leisure Boat Engines in India, China, Japan, and South Korea?
- What are the factors affecting growth in the Leisure Boat Engine Market?
- Who held the largest market share in the Leisure Boat Engine Market?
Maximize Market Research is leading research firm, has also published the following reports:
Leisure Boat Market – The Leisure Boat Market size is expected to reach USD 68.77 billion by 2029 at a CAGR of 7.8 percent during the forecast period. Growth in disposal income of people in developing nations resulted in development in recreational activities, which is expected to grow demand for the leisure boats.
Outboard Boat Market – Global Outboard Boat Market was valued at US$ 5.2 Bn. in 2021. Global Outboard Boat Market size is expected to grow at a CAGR of 6 % through the forecast period. The growing popularity of coastal and marine tourism, coupled with the growing trend towards yachting as a leisure activity, is one of the main drivers of the market.
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