Outboard Boats Market Report 2025

The outboard boats market size has grown strongly in recent years. It will grow from $6.2 billion in 2024 to $6.75 billion in 2025 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to consumer preferences, boating regulations, environmental concerns, boating infrastructure, cultural shifts.

The outboard boats market size is expected to see strong growth in the next few years. It will grow to $9.68 billion in 2029 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to safety features integration, rising disposable income, online sales channels, electric propulsion adoption, boating tourism. Major trends in the forecast period include hybrid and electric propulsion, modular and customizable design, autonomous and assisted navigation, luxury and high-performance segments, enhanced connectivity.

The expected surge in the demand for recreational activities is set to drive the growth of the outboard boat market. Recreational activities encompass both indoor and outdoor leisure pursuits undertaken for exercise, relaxation, and pleasure. Outboard boats are gaining popularity among enthusiasts of aquatic sports and recreation due to their versatility, ease of use, and affordability. Notably, the Outdoor Foundation reported in 2023 that the number of participants in outdoor recreation reached a record high of 168.1 million individuals in 2022, marking a 2.3% increase. This participation accounted for 55% of the U.S. population aged six and above. Consequently, the rising demand for recreational activities is fueling the expansion of the outboard boat market.

The growth of international tourism is anticipated to propel the outboard boat market forward. International tourism involves traveling to a country other than one's residence for various purposes, including leisure and business. Outboard boats serve as recreational and transportation options for international travelers exploring coastal destinations. According to the United Nations World Tourism Organization in May 2023, international tourism receipts rebounded, reaching the significant milestone of USD 1 trillion in 2022. This marked a substantial 50% growth in real terms compared to the figures recorded in 2021. Thus, the expansion of international tourism acts as a driving force for the outboard boat market.

The adoption of advanced technologies is a significant trend gaining traction in the outboard boat market. Leading companies in this sector are concentrating on developing innovative solutions to enhance their market position. For example, in September 2023, Honda Marine, a Japanese manufacturer of marine engines, unveiled the BF350, its first commercially available V8 outboard motor, at the Genoa International Boat Show. This powerful motor is engineered to deliver improved performance for larger boats, offering greater torque, acceleration, and top speed. Additionally, the BF350 incorporates advanced cooling and corrosion-resistant technologies, ensuring durability and reliability for marine operations.

Leading companies in the outboard boats market are prioritizing the development of innovative series featuring hybrid propulsion systems to offer eco-friendly boating solutions. A hybrid propulsion system utilizes a combination of two or more distinct power sources to propel a vehicle or vessel. For example, in early 2024, Mercury Marine, a US-based engine manufacturer, introduced its most powerful electric outboard models to date, the 75e and 110e, at the Consumer Electronics Show (CES). These advanced models are designed to enhance marine performance through increased power and efficiency, while also promoting sustainability with their electric propulsion. The new outboards provide boaters with a cleaner, quieter experience without compromising speed or control, marking a significant advancement in electric marine technology.

In January 2024, Yamaha Motor, a Japan-based motor company, acquired Torqeedo for an undisclosed amount. This acquisition enhances Yamaha's standing in the expanding electric mobility sector for marine applications. By incorporating Torqeedo’s expertise in electric propulsion, Yamaha intends to expedite its efforts in providing environmentally friendly and high-performance marine solutions to address the growing demand for sustainable boating options. Torqeedo is a Germany-based manufacturer specializing in electric outboard motors.

Major companies operating in the outboard boats market include Brunswick Corporation, Campion marine Inc., Cantieri Capilli SRL, Groupe Beneteau, Polaris Inc., Poseidon Boats, White River Marine Group, Nimbus Group, Marine Products Corporation, Ribcraft Ltd., Scout Boats, Seaark LLC, Stingray Boats, Zodiac Milpro Inc., Ferretti Group, Tracker Boats, Bravia Yachtbau, Yamaha Motor Co. Ltd., Malibu Boats Inc., MasterCraft Boat Holdings Inc., Bass Cat Boats, Chaparral Boats Inc., Cobalt Boats, Crownline Boats, Grady-White Boats Inc., Hewescraft, Cruisers Yachts, Lowe Boats, Lund Boat Company Inc., NauticStar Boats, Regal Boats, Robalo Boats, Skeeter Products Inc., Sportsman Boats Manufacturing Inc., Starcraft Marine LLC, Stratos Boats, Sylvan Marine, Fisherman's Boat Group Inc.

North America was the largest region in the outboard boat market in 2024. Asia-Pacific is expected to be the fastest-growing region in the outboard boat market report during the forecast period. The regions covered in the outboard boats market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the outboard boats market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

An outboard boat is a type of boat powered by outboard motors, with the engine mounted on the transom (back) of the boat. These boats come in various sizes, ranging from small fishing boats to large yachts.

The primary segments in the outboard boat market include recreational boats, rigid inflatable boats (RIBs), and small utility boats. RIBs, characterized by a rigid hull and inflatable tubes around the sides, find applications in tourism, water sports, commercial activities, and leisure pursuits. They are utilized in various industries, including fishing, water taxi services, transportation, and hospitality businesses.

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The outboard boat market consists of sales of fishing boats, dinghy boats, and deck boats. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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