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Latin America Outboard Motors Market Share

Report ID: GMI11723
Published Date: Oct 2024
Report Format: PDF

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Latin America Outboard Motors Market Share

The Latin America outboard motors industry is fragmented, with prominent players holding a market share of 15%-20% of the total market share. In the market, companies generally see significant growth potential, driven by the expanding marine tourism, recreational boating, and fishing industries. They also recognize the challenges posed by economic instability, high import taxes, and the need for better infrastructure and after-sales services. To stay competitive, many companies are focusing on developing eco-friendly solutions, such as electric and hybrid outboard motors, to meet rising environmental standards.

Latin America Outboard Motors Market Companies

Major players operating in the Latin America outboard motors industry include:

Bombardier Recreational Products Inc.
Cobra Marine Ltd.
Evinrude
Gator-Tail Motors LLC
Hatsu Marine Co., Ltd.
Honda Motor Co., Ltd.
Johnson Outdoors Inc.
Mariner
Mercury Marine
Nissan Marine Co., Ltd.
Sailor Marine Co., Ltd.
Selva S.p.A.
Suzuki Motor Corporation
Tohatsu Corporation
Yamaha Motor Co., Ltd.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size for outboard motors in Latin America reached USD 457.3 million in 2023 and is set to register a CAGR of 7% between 2024 and 2032, led by increasing marine tourism and recreational boating activities.

The engine segment dominated the market in 2023, generating around USD 198.3 million in revenue and is expected to grow at a CAGR of 6.2% during the forecast period.

The diesel segment dominated the market in 2023, with a share of around 41% of the total market and is expected to grow at a CAGR of 7.4% during the forecast period.

Brazil's market size was around USD 245.9 million in 2023 and is expected to grow at a CAGR of 7.3% during the forecast period, supported by its extensive coastline, vast river networks, and established maritime tradition.

The key players in the market include Bombardier Recreational Products Inc., Cobra Marine Ltd., Evinrude, Gator-Tail Motors LLC, Hatsu Marine Co., Ltd., Honda Motor Co., Ltd., Johnson Outdoors Inc., Mariner, Mercury Marine, Nissan Marine Co., Ltd.