Global Small Marine Engines Market Insights Forecasts to 2033

• The Global Small Marine Engines Market Size was Valued at USD 8.06 Billion in 2023
• The Market Size is Growing at a CAGR of 5.37% from 2023 to 2033
• The Worldwide Small Marine Engines Market Size is Expected to Reach USD 13.60 Billion by 2033
• Europe is Expected to Grow the fastest during the forecast period.

The Global Small Marine Engines Market Size is Anticipated to Exceed USD 13.60 Billion by 2033, Growing at a CAGR of 5.37% from 2023 to 2033.  

Market Overview

The industry that deals with the manufacturing, distribution, and exchange of compact, lightweight engines designed for use in small boats and other watercraft is known as the small marine engines market. Numerous types of watercraft, including sailboats, PWCs, fishing boats, small commercial boats, and yachts, frequently have these engines. When used in bigger ships and boats, small marine engines provide noticeably less power than larger marine engines. They are made especially to provide efficient propulsion for smaller boats and watercraft, and they combine performance, fuel economy, and environmental concerns. A wide range of worldwide manufacturers, suppliers, and distributors operate in the boating industry to accommodate the demand from recreational and commercial boaters. The market for small marine engines has seen significant shifts throughout time. To meet environmental regulations and improve engine performance, manufacturers have continuously invested in research and development. Innovations have made it possible to integrate cutting-edge technologies like electronic fuel injection, variable valve timing, and hybrid systems, which further increase engine economy. Furthermore, as marine engines become more intelligent and digital, improved performance optimization, diagnostics, and monitoring are made possible. To satisfy the demands of a range of customers, including recreational boaters and commercial operators, industry participants have also focused on expanding their product ranges.

Report Coverage

This research report categorizes the market for the global small marine engines market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global small marine engines market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global small marine engines market.  

Driving Factors

Across all continents, the majority of motorized vessels were small boats. Energy conservation and fuel economy have been the main forces behind technology advancements in semi-industrial fishing operations, boats, and equipment. Along with improving maritime safety and the working conditions of fishermen on board vessels, there have also been significant advancements in handling, product quality, efficiency, and lowering the environmental impact of fishing. These changes, along with a general rise in the cost of aquatic goods, effective management of the fisheries in some regions, and enhanced fleet capacity management in North America and Europe, all helped to explain the main global fishing fleets' recent strong financial and economic results. In turn, the fishing sector is probably going to grow significantly over the next several years, which will propel large-scale fishing boat manufacture and increase demand for small marine engines.   

Restraining Factors

Current vessel traffic and port operations are no longer supported by the infrastructure due to the growth of the marine and shipping industry. Expanding and building new infrastructure is necessary to keep up with the growth of maritime traffic worldwide. Smaller economies typically have worse port facilities, fewer trade facilitation policies, and no liner shipping connectivity. Certain flaws impede the expansion of marine commerce in certain countries and regions. These issues present a challenge to the small marine engines market by impeding the growth of the worldwide maritime trade. 

Market Segmentation

The global small marine engines market share is classified into application and placement.

• The recreational boats segment is expected to hold the largest share of the global small marine engines market during the forecast period.   

Based on the application, the global small marine engines market is divided into recreational boats, support vessels, coastal boats, and fishing boats. Among these, the recreational boats segment is expected to hold the largest share of the global small marine engines market during the forecast period. Many different types of boats are used for leisure and entertainment on the water, such as small motorboats, pleasure crafts, yachts, and personal watercraft. The growing need for small marine engines for recreational and aquatic sports, as well as the popularity of recreational boating, have contributed to the prevalence of this market sector.    

• The outboard segment is expected to grow at the rapid growth in the global small marine engines market during the forecast period.

Based on the placement, the global small marine engines market is divided into outboard and inboard. Among these, the outboard segment is expected to grow at the rapid growth in the global small marine engines market during the forecast period. For smaller vessels, such as boats and personal watercraft, outboard engines are often utilized due to their portability, ease of use, and capacity to be mounted on the transom. They are thus the preferred choice for a large number of leisure boaters.  

Regional Segment Analysis of the Global Small Marine Engines Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global small marine engines market over the predicted timeframe.

North America is anticipated to hold the largest share of the global small marine engines market over the predicted timeframe. This is because there is a strong preference for activities that involve water. Runabouts, towboats, fishing boats, sailboats, cabin cruisers, and pontoon boats are some of the most popular types of leisure boats. Outdoor recreation activities account for the largest portion in the United States, contributing more than the mining, oil and gas, and agriculture sectors combined. Furthermore, the increased number of outdoor activities necessitates the use of boats, which is driving up demand for both inwardly and outwardly mounted motors in the region. Furthermore, the growing number of boaters who enjoy the water each year is a major factor in the development of engines used in aquatic vehicles. Due to their large level of discretionary money, Americans continuously place a high priority on leading fulfilling lives and spending time outdoors with friends and family. They also favor visiting lakes, rivers, and seashores. Consequently, a large number of water enthusiasts is a necessary component of strong market demand on a regional and worldwide scale, which is driving recreational boat sales.

Europe is expected to grow at the fastest pace in the global small marine engines market during the forecast period. Europe's biggest market for small marine engines is Germany, which is followed by Italy and the UK. The rising popularity of boating and the growing need for fuel-efficient engines are driving the market's expansion in Germany. Due to the growing popularity of boating, Italy is the second-largest market in the region for compact marine engines. Because of strict pollution laws, the United Kingdom is the third-largest market in the region for small marine engines.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global small marine engines market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Greaves Cotton Limited
• Yamaha Motor Co. Ltd.
• Honda Motor Co. Inc.
• Caterpillar
• Suzuki Motor Corporation
• Greaves Cotton Limited
• Weichai Holding Group Co. Ltd.
• Brunswick Corporation
• Deere & Company
• Volvo Penta
• Mercury Marine
• Cummins Inc.
• Yanmar Co. Ltd.
• Deutz AG
• Kirloskar Oil Engines
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In October 2022, Volvo Penta, a well-known global engine manufacturer, said that it would be working with CMB.TECH to accelerate the development of hydrogen-powered dual-fuel systems for onshore and offshore applications.

• In July 2022, the newest 25 and 30-horsepower four-stroke outboards from Mercury Marine, a part of Brunswick Corporation, are intended to be lighter, quicker, and easier to operate. The 500cc, 3-cylinder powerhead on these outboards has electronic fuel injection.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global small marine engines market based on the below-mentioned segments: 

Global Small Marine Engines Market, By Application

• Recreational Boats
• Support Vessels
• Coastal Boats
• Fishing Boats

Global Small Marine Engines Market, By Placement

• Outboard
• Inboard

Global Small Marine Engines Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa