Taizhou Xieli Power Technology Co., Ltd.
China Outboard Market by Application
According to the GMI report, the market size of China's recreational, commercial and military outboard market will account for 76.32%, 14.81% and 8.88% respectively in 2020; the market size of China's recreational, commercial and military outboard market is expected to account for 76.04%, 15.22% and 8.73% respectively in 2027, with a CAGR of 8.85%, 9.36% and 8.64% respectively from 2021 to 2027. The CAGR from 2021 to 2027 is 8.85%, 9.36% and 8.64% respectively.
With the continuous development of China's national economy, people have a higher demand for leisure and entertainment. In November 2016, China's State General Administration of Sports released the Water Sports Industry Development Plan, which predicts that the overall size of the water sports industry will reach RMB 300 billion by 2020, including a wide range of water sports such as diving, water skiing, kayaking and leisure yachting activities. The water sports industry in China is expected to reach RMB 300 billion by 2020. Therefore, China's water sports industry is still in its infancy, both in terms of scale and level of development, and has a large market potential. As one of the main components of water recreation facilities, the outboard has a large market potential.
With the rapid development of China's economy and the increase of national income level, China's coastal cities already have the economic conditions to consume yachts, and China's yacht industry is entering a golden period. According to the IBI International Yachting Industry Magazine report, the total number of yachts in China was 22,100 in 2018 and is expected to reach 163,500 by 2025, with a compound annual growth rate of over 30%. Due to the rapid development of the yachting industry, it will drive the rapid growth of outboard engines in China's recreational sector.
Summary：
According to the GMI report, the market size of China's recreational, commercial and military outboard market will account for 76.32%, 14.81% and 8.88% respectively in 2020; the market size of China's recreational, commercial and military outboard market is expected to account for 76.04%, 15.22% and 8.73% respectively in 2027, with a CAGR of 8.85%, 9.36% and 8.64% respectively from 2021 to 2027. The CAGR from 2021 to 2027 is 8.85%, 9.36% and 8.64% respectively.
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Date：
2023-02-27
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