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Inboard Engines Market Trends

Report ID: GMI5446
Published Date: May 2024
Report Format: PDF

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Inboard Engines Market Trends

Strong and dependable inboard engines are required for passenger ferries, tour boats, and other commercial vessels due to the growing demand for marine transportation services. The UN Trade and Development Analysis projected that Maritime Trade would increase by 2.4% in 2023 and by CAGR over 2% between 2024 and 2028. Furthermore, the integration of digitalization, the Internet of Things (IoT), and connection elements into inboard engine systems facilitates improved customer value propositions and increased operational efficiency, performance monitoring, and maintenance, propelling market expansion.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of inboard engines was reached USD 1.5 billion in 2023 and is expected to register 6.4% CAGR from 2024 to 2032, owing to the growing popularity of recreational boating activities including fishing, watersports, and cruising worldwide.

Inboard engines industry from the diesel segment is expected to reach USD 1.5 billion by 2032, due to their dependability and torque output, they are essential for heavy cargo transportation, commercial fishing, and towing operations.

North America inboard engines industry held 26% share in 2023 and is expected to register a commendable CAGR from 2024 to 2032, due to increasing recreational boating activities including sailing, fishing, cruising, and watersports in the region.

MAN Energy Solutions, Mercury Marine, MTU Friedrichshafen GmbH, Nanni Industries, PCM (Pleasurecraft Marine Engine Co., Scania AB, Suzuki Motor Corporation, Volvo Penta, Yamaha Motor Co., Ltd., and Yanmar Co., Ltd., are some of the major inboard engines companies worldwide.