The global small marine engines market is expected to reach USD 10.3 billion by 2027 from an estimated USD 7.8 billion in 2022, at a CAGR of 5.5% from 2022 to 2027.
The small marine engines market has a large number of regional and local players globally. A few major players have a wide regional presence and dominate the small marine engines market. The leading players in the small marine engines market include Yamaha Motor Co., Ltd. (Japan), Yanmar Co. Ltd. (Japan), Brunswick Corporation (US), Suzuki Motor Corporation (Japan), Honda Motor Co., Ltd. (Japan).
Product launches are among the key growth strategies adopted by leading companies Yamaha Motor Co., Ltd. (Japan), Yanmar Co. Ltd. (Japan), Brunswick Corporation (US), Suzuki Motor Corporation (Japan), Honda Motor Co., Ltd. (Japan) to boost their position in the pool & spa market. Companies operating in this market also focus on partnerships, sales contracts, agreements, product launches, acquisitions, contracts, expansions, and investments to increase their market shares and expand their geographic presence.
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Yanmar is a Japanese company that manufactures and sells various types of engines, such as in seagoing vessels, pleasure boats, construction equipment, agriculture equipment, and generator sets. The company offers products and services under its agriculture, marine, power products, construction, industrial engine, energy systems, large generators, and other financial services portfolios. Yanmar Marine International is a subsidiary of Yanmar Co. Ltd., which offers marine diesel engines, such as light-duty commercial vessels, powerboats, sailboats, and small craft, for recreational and light-duty commercial uses. Yanmar operates in more than 17 countries across Europe, the Middle East & Africa, Asia Pacific, North America, and Latin America through its subsidiaries. It has approximately 6,000 dealers and a strong distribution network. The company has been working extensively on launching new products, which helps them to strengthen their presence in the market. Also, joint ventures, collaborations, partnerships, and agreements have helped the company to establish a good position in the market.
Brunswick Corporation designs, manufactures, and markets recreational marine products, including leading marine propulsion products and boats, as well as parts and accessories for the marine and RV markets. The company also operates the world’s largest boat club. The company has three reportable segments: Propulsion, Parts & Accessories (P&A), and Boat. The Propulsion segment offers a full range of outboard, sterndrive, and inboard engines, as well as propulsion-related controls, rigging, and propellers. The company offers small marine engines under the Propulsion segment. Small marine engines are offered under the Mercury Marine brand. Mercury Marine engines are designed for use in applications such as commercial, recreational, and racing. Brunswick Corporation has operations in 29 countries, with 19,000 dealers operating worldwide. The Propulsion segment principally sells its products directly to independent boat builders, local, state, and foreign governments, and Brunswick's Boat segment. In addition, the Propulsion segment sells outboard engines through a global network of more than 8,800 marine dealers and distributors, specialty marine retailers, and marine service centers. The company invested in R&D activities. It is also focusing on expansion and increasing its product portfolio by launching new products and technologies. The company distributes its products through various brands to strengthen its foothold in the market.
Small Marine Engines Market by Model (Gasoline, Diesel, Electric), Placement (Outboard, Inboard), Application (Recreational Boats, Support Vessels, Coastal Boats, Fishing Boats), Displacement (Up to 2 L, 2-4 L, 4-6 L) and Region - Global Forecast to 2027
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