Taizhou Xieli Power Technology Co., Ltd.
Global Outboard Industry Development Analysis
The demand orientation of outboard applications has a direct impact on outboard sales. The application of outboards in the global civil sector is mainly reflected in three areas: water recreation, coastal fishing and own boats. In recent years, due to the impact of the new crown epidemic and the increasing socialisation, consumer demand for new boats in Europe and the USA has increased dramatically. According to the National Marine Manufacturers Association (NMMA) report, in 2020, over 310,000 new powerboats will be sold in the US, with retail sales increasing by 12% year-on-year, the highest level of recreational yacht sales since the Great Recession in 2008. The European and US markets are already quite well developed in terms of the watersports industry and the new macro environment is further driving water recreation consumption, which is expected to unlock a $300 billion market space globally over the next three to five years.
The surge in downstream demand has ensured that global outboard sales have maintained steady growth. From 2017 to 2020 growth trend, the new crown epidemic to a certain extent inhibit the outboard demand incremental outbreak, but the epidemic under the promotion of water recreation activities and water transportation demand climb, outboard growth trend in Asia and Africa region is particularly obvious. The number and price of outboards continue to grow in both dimensions, with strong market demand.
According to the financial data announced by Mercury, Suzuki and Yamaha for the third quarter of 2021, the revenue of Mercury outboard products increased by 37.70%, Yamaha marine products revenue increased by 22.3% and Suzuki marine products revenue increased by 20.4% in the first three quarters of 2021. 2021, the market demand for outboard remains strong and the industry shows a rapid growth trend.
Summary：
The demand orientation of outboard applications has a direct impact on outboard sales. The application of outboards in the global civil sector is mainly reflected in three areas: water recreation, coastal fishing and own boats. In recent years, due to the impact of the new crown epidemic and the increasing socialisation
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2023-02-27
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