DUBLIN , Oct. 7, 2022 /PRNewswire/ -- The "Small Marine Engines Market by Model (Gasoline, Diesel, Electric), Placement (Outboard, Inboard), Application (Recreational Boats, Support Vessels, Coastal Boats, Fishing Boats), Displacement (Up to 2 L, 2-4 L, 4-6 L) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global small marine engines market is expected to reach USD 10.3 billion by 2027 from an estimated USD 7.8 billion in 2022, at a CAGR of 5.5% from 2022 to 2027.
The growth of the small marine engines market is proportional to the growth of the boatbuilding industry. Apart from this, an increase in the fishing activities and the rising investments in oil and gas exploration has led to the increased use of support vessels and barges. They require small marine engines for propulsion and hence the market is expected to experience a growth in demand during the forecast period.
Diesel: The largest-growing segment by model in the small marines engines market
Based on model, the diesel based small marine engines are expected to occupy the largest share in the small marine engines market. Diesel engines are used in marine vehicles such as boats, ships, and submarines. Diesel engines are significantly more expensive than gas-powered engines as they are built to tighter tolerances and can stand much more abuse than their gasoline counterparts.
Diesel engines, when maintained properly, can give 6,000-8,000 hours of good use before needing a major overhaul. This means, some diesel engines can easily last the full lifetime of the boat. Most boaters prefer diesel because of durability. Other reasons include safety and/or economy. Diesel fuel is not as volatile as gasoline and does not explode.
Outboard: The largest segment by placement in small marine engines market
The small marine engines market has been segmented into outboard, inboard, and others. Others include stern-driven and jet propulsion engines. The main difference between an inboard and an outboard engine is their placement in the boat. Outboards can be flexibly used and they are commonly used for fishing, water sports, and pleasure boating.
Most of the boats have outboard engines, because of their ease of use and low maintenance costs. The outboard engines are seen mostly on pontoons, aluminum boats, bass boats, bowriders, small cruisers, and some high-performance off-shore speed and fishing boats. Boats that are used for recreational cruising or fishing are most likely to have outboard motors because the benefits are more advantageous in this setting.
Asia Pacific : The fastest-growing region in small marine engines market
Asia Pacific is expected to be the fastest growing region owing to the increasing fishing and recreational activities in countries such as China , India , and Japan . As the oil & gas exploration and production activities pick up pace, the demand for support vessels is likely to spur, leading to a growth in demand for small marine propulsion systems.
The demand for small marine engines in the defense sector is also projected to increase because of the ongoing territorial conflicts among countries such as China , the Philippines , North Korea , Japan , India , Vietnam , Pakistan , and Afghanistan , thereby driving the marine engines market in the region. Asia Pacific offers enormous scope for the small marine engines market as the region comprises a large number of developing countries that represent enormous trade opportunities.
4 Premium Insights 4.1 Attractive Opportunities for Players in Small Marine Engines Market 4.2 Market, by Region 4.3 North America : Market, by Model and Country, 2021 4.4 Market, by Model 4.5 Market, by Displacement 4.6 Market, by Placement 4.7 Outboard Market, by Model 4.8 Inboard Market, by Model 4.9 Others Market, by Model 4.10 Market, by Application
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Surge in Demand for Outdoor Recreation and Personal Mobility 5.2.1.2 Growth of Fishing Industry 5.2.1.3 Emphasis on Coastal Security and Defense 5.2.2 Restraints 5.2.2.1 Stringent Environmental Regulations for Decarbonization 5.2.2.2 Lack of Marine Infrastructure in Developing Economies 5.2.3 Opportunities 5.2.3.1 Increase in Installation of Offshore Energy Facilities 5.2.3.2 Growing Investments in Electrification Projects for Marine Applications 5.2.4 Challenges 5.2.4.1 High Lead Times 5.3 Trends/Disruptions Impacting Customers' Businesses 5.3.1 Revenue Shift and New Revenue Pockets for Small Marine Engine Providers 5.4 Market Map 5.5 Value Chain Analysis 5.6 Technology Analysis 5.6.1 IoT-Connected Small Marine Engines 5.6.2 Dual-Fuel and Hybrid Small Marine Engines 5.7 Pricing Analysis 5.7.1 Average Selling Prices of Small Marine Engines, by Displacement 5.8 Key Conferences & Events, 2022-2023 5.9 Tariff and Regulatory Landscape 5.9.1 Tariffs Related to Small Marine Engines 5.10 Trade Analysis 5.11 Innovations and Patent Registrations 5.12 Porter's Five Forces Analysis 5.13 Key Stakeholders & Buying Criteria 5.14 Buying Criteria 5.15 Case Study Analysis 5.15.1 Yanmar Launches Marine Engines for Application in Fishing Boats 5.15.1.1 Problem Statement: March 2020 5.15.1.2 Solution 5.15.2 Yanmar Provides Marine Diesel Engines for Reliable and Smooth Operations 5.15.2.1 Problem Statement: September 2021 5.15.2.2 Solution
6 Small Marine Engines Market, by Model 6.1 Introduction 6.2 Diesel 6.2.1 Offers Advantage of High Tolerance 6.3 Gasoline 6.3.1 Requires Low Costs to Purchase and Repower 6.4 Electric 6.4.1 Offers Reduced Environmental Risks and Noise
7 Small Marine Engines Market, by Displacement 7.1 Introduction 7.2 Up to 2 L 7.2.1 Used in Sports Fishing Boats 7.3 2-4 L 7.3.1 Used for Vessels Sailing on Inland Waters 7.4 4-6 L 7.4.1 Provides Benefits of Fuel Efficiency and Low Maintenance Cost
8 Small Marine Engines Market, by Placement 8.1 Introduction 8.2 Outboard 8.2.1 Are Easy to Use and Require Low Maintenance 8.3 Inboard 8.3.1 Designed for Vessels Requiring High Horsepower and Torque
9 Small Marine Engines Market, by Application 9.1 Introduction 9.2 Recreational Boats 9.2.1 Yachts 9.2.1.1 Majorly Driven by Inboard Small Marine Engines 9.2.2 Cruiser Boats 9.2.2.1 Require Less Maintenance 9.2.3 Others 9.3 Support Vessels 9.3.1 Fire Boats 9.3.1.1 Mainly Operated by Diesel-Based Small Marine Engines 9.3.2 Rescue Boats 9.3.2.1 Employ Petrol-Driven Outboard Small Marine Engines 9.3.3 Others 9.4 Coastal Boats 9.4.1 Patrol Boats 9.4.1.1 Used to Perform Rescue Operations and Ensure Coastal Security 9.4.2 Others 9.5 Fishing Boats 9.5.1 Spurt in Global Fish Production to Drive Market 9.6 Others
10 Small Marine Engines Market, by Region
11 Competitive Landscape 11.1 Small Marine Engines Market Overview 11.2 Market Share Analysis of Top Five Players, 2021 11.3 Revenue Analysis of Top Five Market Players 11.4 Company Evaluation Quadrant 11.4.1 Stars 11.4.2 Pervasive Players 11.4.3 Emerging Leaders 11.4.4 Participants 11.5 Start-Up/Sme Evaluation Quadrant, 2021 11.5.1 Progressive Companies 11.5.2 Responsive Companies 11.5.3 Dynamic Companies 11.5.4 Starting Blocks 11.6 Competitive Benchmarking 11.7 Market: Company Footprint 11.8 Competitive Scenarios and Trends
12 Company Profiles 12.1 Key Players 12.1.1 Yamaha Motor Co. Ltd. 12.1.2 Yanmar Co. Ltd. 12.1.3 Brunswick Corporation 12.1.4 Suzuki Motor Corporation 12.1.5 Honda Motor Co. Ltd. 12.1.6 Caterpillar 12.1.7 Cummins Inc. 12.1.8 Volvo Penta 12.1.9 Deutz Ag 12.1.10 Greaves Cotton Limited 12.1.11 Weichai Power Co. Ltd. 12.1.12 John Deere 12.1.13 Kohler Co. 12.1.14 Tohatsu Corporation 12.1.15 Kirloskar Oil Engines 12.2 Other Players 12.2.1 Oxe Marine Ab 12.2.2 Hyundai Seasall 12.2.3 Mitsubishi Heavy Industries-Vst Diesel Engines 12.2.4 Doosan Infracore 12.2.5 Fpt Industrial
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