Global Small Marine Engines Market Overview And Statistics For 2024-2033
Small Marine Engines Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
LONDON, GREATER LONDON , UNITED KINGDOM, October 3, 2024 /EINPresswire.com/ -- The small marine engines market has experienced robust growth in recent years, expanding from $7.9 billion in 2023 to $8.39 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to increased leisure travel, government regulations, replacement market, boat manufacturing trends, economic prosperity, innovation in fuel efficiency.
What Is The Estimated Market Size Of The Global Small Marine Engines Market And Its Annual Growth Rate?
The small marine engines market is projected to continue its strong growth, reaching $10.51 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to rising disposable income, shift towards electric propulsion, global expansion of fishing industry, environmental sustainability, urbanization and marina development, climate change impact.
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Growth Driver of The Small Marine Engines Market2
The rise in the adoption of autonomous vessels and robots is expected to propel the growth of the small marine engines market going forward. Autonomous vessels and robots are technological systems designed to operate and navigate independently without the direct control of a human operator. Small marine engines provide the necessary power, reliability, and efficiency for autonomous vessels and robots operating in maritime environments. Their versatility and adaptability make them a valuable component in the development and deployment of autonomous marine technology.
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Which Market Players Are Driving The Small Marine Engines Market Growth?
Key players in the market include Yamaha Motor Co. Ltd., Yanmar Marine International B.V., Brunswick Corporation, Suzuki Motor Corporation, Honda Motor Co. Ltd., Alcatel-Lucent SA, AT&T Inc., Commscope Inc., Telefonaktiebolaget LM Ericsson, Verizon Communications Inc., Anixter International Inc., Cobham Limited, Corning Incorporated, TE Connectivity Limited, Harris Communications, Nokia Corporation, Belkin International, Cisco Systems Inc., Belden Incorporated, Nexans SA, Amphenol Corporation, Caterpillar Inc., Cummins Inc., Hyundai Heavy Industries Co. Ltd., MAN Energy Solutions, Mercury Marine, Mitsubishi Heavy Industries Ltd., Rolls Royce PLC, Volvo Penta of the Americas Inc., Wärtsilä Corporation, Greaves Cotton Limited.
What Are The Key Trends That Influence Small Marine Engines Market Share Analysis?
Major companies operating in the small marine engines market are focusing on innovative products, such as auxiliary engines, to drive revenues in their market. Auxiliary engines are secondary engines or power sources used to provide additional power for specific functions or services, separate from the primary propulsion engine of a vehicle or machinery.
How Is The Global Small Marine Engines Market Segmented?3
1) By Model: Gasoline, Diesel, Electric
2) By Displacement: Up to 2 L, 2-4 L, 4-6 L
3) By Placement: Outboard, Inboard, Other Placements
4) By Application: Recreational Boats, Support Vessels, Coastal Boats, Fishing Boats, Other Applications
Geographical Insights: North America Leading The Small Marine Engines Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Small Marine Engines Market Definition
The small marine engines refer to any nonroad engines that is or will be put on a marine vessel that is small in size and is referred to as a marine engines. This only applies to mobile auxiliary marine engines if the vessel also houses the engines’ fueling, cooling, and exhaust systems.
Small Marine Engines Global Market Report 2024 from The Business Research Company1 covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global small marine engines market report covering trends, opportunities, strategies, and more
The Small Marine Engines Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on small marine engines market size, small marine engines market drivers and trends, small marine engines market major players and small marine engines market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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