advancement in technologies such as two-stroke indirect fuel injection, four-stroke fuel
injection, four-stroke throttle body fuel injection, and electronic control modules to
augment fuel economy benefits to the fleet owners of the ships.
However, high cost of new boats, inclination of consumers towards buying pre-owned
boats as the lifespan of a boat is over 12 years, need to upgrade engine based on
emission standards are the factor restraining sales of new boats. Less participation from
younger generation is also expected to restrict the growth of the global outboard engines
market.
Outboard Engines Market: Regional Insights
The global outboard engines market has been segmented on the basis of regions into
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market
for outboard engines in North America and Europe accounted for the largest market
share in 2016, owing to the popularity of low powered engines. Low powered boats are
affordable and consume less fuel, which makes them best suited for fishing industry.
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The total sale of boats in the U.S. accounted largest share in 2016. According to
Coherent Market Insights analysis, during the period of 2012 to 2016, the number of
boats sold was around 29,489 units. Maximum sales came from watercraft, fishing boats,
and fiberglass runabouts. The greatest portion of this value came from sales of boats
with a length between 36 and 45 feet.
Outboard Engines Market: Competitive Background
Major players operating in the global outboard engines market include Yamaha Motor
Company Ltd., Suzuki Motor Corporation, Honda Motor Co., Ltd., Tohatsu America Corp.,
Mudd Hog Mud Motors, LLC, Brunswick Corporation, Evinrude Outboard Motors, Torqeedo
GmbH, Seven Marine LLC, Powertec Group, Hidea Power Machinery Co., Ltd., and Elco
Motor
Yachts,
LLC.
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