Inboard Engines Market Size By Power Source (Diesel, Electric, Gasoline), By Power (Low, Mid, High), By Ignition (Electric, Manual), By Engine (IC Engine {2-Stroke, 4-Stroke}, Electric Engine), By Application (Commercial, Boating) COVID-19 Impact Analysis

Inboard Engines Market Size By Power Source (Diesel, Electric, Gasoline), By Power (Low, Mid, High), By Ignition (Electric, Manual), By Engine (IC Engine {2-Stroke, 4-Stroke}, Electric Engine), By Application (Commercial, Boating) COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2023 - 2032

Inboard Engines Market is expected to grow through 2032 owing to the increasing production and sales of yachts, especially across Europe. According to credible reports, France, Italy, Germany, and the UK are the leading manufacturing countries of yachts globally. Moreover, rising marine tourism across various developing and developed economies would prompt the demand for inboard engines.

Besides, inboard engines offer longer life span, high aftermarket resale value, and are fuel efficient & less noisy. Such advantages are anticipated to attract yacht manufacturers to equip new yachts with inboard engines, thus propelling the market expansion.

Overall, the inboard engine market is segmented in terms of power source, power, ignition, engine, application, and region.

Based on the power source, the electric segment is estimated to grow considerably through 2032 owing to the increasing adoption of electric-powered inboard engines due to advancements in battery technology and their easy availability. Given its reduced emission, electric engines provide a peaceful and enjoyable ride. They are excellent substitute for day cruisers and smaller boats. Besides, the increasing switch to more efficient and sustainable energy sources will also positively influence the segment expansion in the coming years.

By power, the low power segment will depict strong growth through 2032. Low-power inboard engines hold a substantial volume share and are popular for fishing and recreational boating. The rising traction of watersports and the use of small boats by children will help the segment to thrive in the future.

Considering the ignition, the electric ignition segment will witness high demand during the estimated timeframe as they are well-known for offering hassle-free ignition of motors by pushing a button. Moreover, increasing tech innovations in battery technologies will spur their adoption in the foreseeable future.

In terms of engines, the 4-stroke inboard engines will be in high demand during 2023-2032. Their versatility, reliability, and flexibility are key features slated to enhance their adoption.

By application, the boating segment will register strong growth owing to the rising sales of recreational boats across the globe. The positive economic outlook will also drive the inboard engine sales across the boating market.

Regionally, the Latin America inboard engine industry is slated to depict over 6% CAGR through 2032. The region is witnessing high product demand from the leisure and recreational segment. Besides, increasing consumer inclination towards fishing activities will also positively influence regional growth during the estimated timeframe.