Marine outboard motor market to experience slow growth of 1.7%, valued at over $ 3.9: Fact.MR concludes
Fact.MR’s study of the marine outboard motors market offers information divided into two key segments: power, engine, ignition, boat, in seven major regions.
DUBAI, UNITED ARAB EMIRATES, September 16, 2021 /EINPresswire.com/ – The global marine outboard motor market was valued at US $ 3.3 billion in 2020 and is expected to add a value of US $ 616.4 million during the forecast period (2020-2030). The COVID-19 pandemic has caused latency in the global marine outboard motor market as sales of new vessels have declined significantly over the past two months.
The market is on the verge of a slowdown in growth due to the fiscal uncertainty created by the pandemic. Dramatically reduced demand for seafood due to restaurant closures and declining marine recreation as part of the ongoing foreclosure in many areas has caused a collapse in the commercial shipping industry.
As a result, the major shipbuilding companies ceased production. For example, in March 2020, major boat manufacturing companies in the United States such as Viking Yachts, Regal Boats, Brunswick Corporation, Yamaha Outboard, Groupe, Beneteu and Malibu Boats halted all production at their sites in the country. Such dormancy in shipbuilding poses a serious threat to the marine outboard motor market. However, as the pandemic is brought under control, the global marine outboard motor market is poised to bounce back and is expected to grow 1.2 times by the end of the forecast period.
âThe COVID-19 outbreak has had a tremendous impact on the production and demand for marine outboard motors. Therefore, the market is expected to experience slow growth over the next fiscal quarters. However, in the long run, it will register significant opportunities. “
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Key segments of the marine outboard motor market
Fact.MR’s study of the marine outboard motors market offers information divided into two key segments: power, engine, ignition, boat, in seven major regions. This report offers comprehensive data and information on market dynamics and important growth parameters associated with these categories.
â¢ Less than 30 HP
â¢ 30 HP to 100 HP
â¢ Above 100 HP
â¢ Two-stroke carburettor
â¢ Electronic two-stroke fuel injection
â¢ Two-stroke direct injection system
â¢ Four-stroke carburetor
â¢ Four-stroke electronic fuel injection
â¢ Fishing boat
â¢ Pleasure boat
â¢ Special purpose boats
â¢ North America
â¢ Latin America
â¢ South Asia
â¢ East Asia
â¢ Middle East and Africa
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IMPACT OF COVID ON THE MARINE OUTBOARD MOTOR MARKET
In Q1-2021, Suzuki reported a decline in outboard motor revenue of about 8% year-on-year to $ 200 million, with the majority of the decline due to weaker European markets.
The OXE Marine, Sweden-based diesel outboard engine maker says its sales have been affected by the postponement of orders due to COVID-19. It also said it built enough OXE200 series units in the first quarter to meet its sales targets in the second and third quarters of 2020. Senior executives and a hiring freeze in the short term.
In May 2020, Yanmar, which has already invested in Getmyboat, a major player in the on-demand boat rental market, strengthened its offer by recruiting more boat owners and operators to meet new demand from local rental companies. . It is expected that the demand for With the massive decline in travel and vacations over the next few months, stays are expected to increase.
Key Questions Answered in Fact.MR Marine Outboard Motors Market Report
â¢ Which regions will remain the most profitable regional markets for marine outboard motors market players?
â¢ What factors will cause demand for marine outboard motors to change during the evaluation period?
â¢ What will be the impact of changing trends in the marine outboard motor market?
â¢ How can market players seize the opportunities at hand in the marine outboard motor market in developed regions?
â¢ Which companies dominate the marine outboard motor market?
â¢ What are the winning strategies of the players in the marine outboard motor market to gain momentum in this landscape?
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