Inboard Engines Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Inboard Engines Market is segmented By Product (Diesel, Gasoline, Electric, Others), By Power (Low, Medium, High), By Ignition (Electric, Manual), By Engine (IC Engine, Two-stroke, Four-stroke, Electric Engine), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa). The report offers the value (in USD billion) for the above-mentioned segments.
Inboard Engines Market Size
Market Size in USD
CAGR6.4%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 6.4% |
| Market Concentration | Low |
| Major Players | Caterpillar Inc., Cummins Inc., Volvo Penta, Yanmar Co., Ltd., Mercury Marine |
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Inboard Engines Market Analysis
The Global Inboard Engines Market is estimated to be valued at USD 1.62 Bn in 2024 and is expected to reach USD 3.01 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031. The rising marine tourism and water sports industry along with increasing disposable income is driving the demand for inboard engines globally. Development of fuel-efficient and low emission engines by manufacturers continues to support the market growth over the forecast period.
The market is witnessing rising demand for electric and hybrid inboard engines driven by stringent environmental regulations regarding emissions. Manufacturers are investing in developing advanced lithium-ion battery technologies to increase the performance and operational capabilities of electric inboard engines. Additionally, the adoption of connected engine technologies integrated with IoT and advanced analytics is emerging as a key trend in the market.