According to the research report titled ‘Asia Pacific Outboard Engines Market Forecast 2027 By Power, By Engine Type, By Fuel Type, By Ignition Type, By Applications, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Asia Pacific outboard engines market value is projected to reach USD 1.5 billion by the year 2027.
 

Growing penetration of high-powered vessels in commercial applications and significance of using the right engine is primarily driving Asia Pacific outboard engines market growth.
 

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Notably, modern outboard motors make less noise and, are more fuel efficient and adaptable than conventional models.
 

Based on type, two-stroke segment is anticipated to garner a valuation of USD 635 million by 2027. Two-stroke engine produces more power than a four-stroke engine of the same horsepower, which adds to its appeal and demand.
 

As per fuel type, the market share from gasoline segment is expected to expand at a CAGR of 7% over the assessment period. Consistent developments and innovations in gasoline outboard engine technology have helped companies offer better products, improving range and output possibilities. The aforementioned advantages offered by gasoline outboard engines are driving segmental growth.
 

Meanwhile, diesel segment is projected to register 9.5% CAGR through 2027, due to features such as low volatility, diesel superior efficiency, durability, and safety. Promotion of heavy-powered diesel motors and expansion of distribution networks are also adding to the segment expansion.
 

Moving on to application spectrum, commercial segment accounted for 15% of Asia Pacific outboard engines industry share in 2020, owing to the popularity of high-powered outboard engines in commercial applications due to their efficiency. As commercial boats are subject to harsh conditions and all-day operations, several major firms are exploring the benefits of high-powered outboards for smooth operations.
 

While, recreational segment accounted for over 75% of the regional market share in 2020, owing to strong economic growth in the region. The population in the region is likely to enjoy marine lifestyle during and after the coronavirus outbreak, thanks to more flexible work environments that allowed people to spend more time outside.
 

Coming to competitive terrain, Powertrain Company, Cox International, Torqeedo GmbH, Mudd Hog Mud Motors LLC, Suzuki Marine, and Mercury Marine Inc. are among the major companies impacting Asia Pacific outboard engines industry dynamics.