Outboard Boats Market to garner remarkable proceeds over 2022-2028

The outboard boats industry is expected to showcase lucrative developments, in terms of growth and revenue, powered by the rising strides in the fishing sector and fast-growing light commercial inshore boating industry. Of late, a paradigm shift from inboard systems has been traced as customers are largely favoring outboard-style products, mainly on account of their performance, and ease of maintenance.
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Outboard boats have an appealing look and hence attract a lot of consumer attention. They deploy engines that are mounted on the outside and that are high on the transom. They are easy on performing maintenance as the engines can be tilted completely out of the water. These boats are easy to access, mount, as well as remove, hence making maintenance and cleaning extremely simple.
The outboard boats market will also witness significant progression with the increasing emphasis laid on numerous growth- and revenue-driven strategies, including partnerships, acquisitions, and mergers led by some prominent business players. To cite an instance, in January 2020, Brunswick teamed up with Sea Ray for debuting a boat loaded with futuristic features, namely Sea Ray SLX-R 400e, at the CES (Consumer Electronics Show) to meet the rising needs for cutting-edge upgrades.
The growing deployment of powerful and fuel-efficient outboard systems and the rapid strides in powertrain and cabin technologies will further favor the growth of this industrial space. Taking note of these factors, estimates have proposed that the global outboard boats market size is likely to cross USD 9 billion in annual valuation by 2028.
Surging recreational boating activities
Lately, recreational vessels have turned into important vectors in the transportation of marine non-native species. In addition to this, the rising consumer per-capita incomes and their thriving spending capabilities have substantially contributed to the rise in off and on-water activities across fun, social as well as family-friendly environments. This has in turn paved the way for the increasing demand for outboard boats.
According to the NMMA (National Marine Manufacturers Association), the recreational boating industry accounts for over $32 billion in annual sales in the U.S. The outboard boats industry will also gain notable proceeds with the rising popularity of fish and ski bowriders, express cruisers, pontoons, and deck boats.
Increasing presence in North America 
With the escalating sales of new powerboats and the growing rate of marine transport employment, outboard boats are striking widespread importance in North America. The NMMA reported that the sales of new powerboats exceeded 300,000 units in the U.S. in 2021. Apart from emerging as a major contender in the recreating boating industry, the region is home to some of the major marine engine and accessory manufacturers.
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The thriving fishing activities in countries, like Mexico, Canada, and the U.S. has also paved the way for the higher adoption of utility boats. This will further influence the development of the outboard boats market across the continent.
In a nutshell, the soaring demand for powerboats that deploy hybrid inboard-outboard engines may also influence the overall industry dynamics in the years to come. The rapidly expanding fleet of rigid inflatable boats and water taxis will also be fruitful for the expansion of this business space.
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Outboard Boats Market to garner remarkable proceeds over 2022-2028