According to the research report titled ‘Outboard Boats Market By Type (Recreational Boat [Pontoon, Bowrider, Express Cruiser, Center Console], Rigid Inflatable Boat, Utility Boat, Water Taxi), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028’, available with MarketStudyReport, global outboard boats market is anticipated to grow considerably through 2028.

Report findings suggest that consumer inclination towards water sports and other recreational activities, and flourishing boating & marine tourism industries are the major growth contributors for outboard boats market.

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Moreover, growing popularity of outboard boats due to numerous advantages like ease of maintenance, lightweight, improved fuel economy, increased speed, and high power, as well as widespread incorporation of advanced technologies in the production of innovative outboard boats are expected to accelerate market growth during the forecast period.

On the downside, high number of injuries and fatalities during boating, in tandem with huge initial investment are arresting the industry growth to some extent.

Based on type terrain, worldwide outboard boats market is divided into utility boat, recreational boat (bowrider, pontoon, center console, express cruiser), water taxi, and rigid inflatable boats. Among these, the water taxi segment is anticipated to record a CAGR of 2.5% to amass substantial valuation by 2028, owing to growing consumer preference for sea rides, and significant innovations in passenger boats.

Regionally, Latin America industry is poised to grow substantially over the study period, due to favourable government initiatives that support the domestic marine tourism vertical, and the proliferation of boat rental companies in the region.

The key players in outboard boats market are Zodiac Milpro International, White River Marine Group, Stingray Boats, SeaArk LLC, Scout Boats, Ribcraft Ltd., Poseidon Boats, Polaris Inc., Mahindra & Mahindra Ltd., Groupe Beneteau, Cantieri Capelli S.r.l., Campion Marine Inc., Brunswick Corporation, and Bombardier Recreational Products Inc. These companies are developing products through strategic collaborations in order to stay ahead of the competition.