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Inboard Engines Market Growth Analysis & Forecast Report | 2023-2032

As per the recent report, the inboard engines market share from the electric powered engine segment is expected to witness more than USD 115 million valuation by 2032. The growing popularity of inboard electric engines is due to the improvements in battery technology and their widespread availability.

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Inboard Engines Market Growth Analysis & Forecast Report | 2023-2032

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  1. Inboard Engines Market 2023-2032; Growth Forecast & Industry Share Report

  2. Industry Insights • The expanding recreational boating and other water activities are driving the production and sales of yachts across Europe. Countries such as France, Italy, Germany, and the UK are among the leader in yacht production in Europe. The imposition of strict emission and noise regulations by the European Union has created lucrative growth opportunities for electric boats and ship manufacturers. Multiple developments in inboard engines along with the addition of features like less noise, longer lifespan, and a high aftermarket resale value, are likely to increase their demand. • Inboard engines market from the IC engine segment is anticipated to hold more than 95% share by 2032. The adoption of hybrid propulsion systems, which combine conventional IC engines with electric motors and batteries, is slowly becoming a popular trend in the marine transport sector. IC engines offer various advantages like lesser noise and vibration along with better fuel efficiency and lower pollutants.

  3. As per the recent report, the inboard engines market share from the electric powered engine segment is expected to witness more than USD 115 million valuation by 2032. The growing popularity of inboard electric engines is due to the improvements in battery technology and their widespread availability. Electric engines create lesser noise and are comfortable to operate all while emitting fewer pollutants. They are excellent substitutes for day cruisers and smaller boats. Efforts to adopt cleaner energy sources that are more efficient would promote the sales of electric-powered inboard engines. • Inboards engine market share from the boating segment is predicted to witness more than 7.5% CAGR from 2023 to 2032. The rising sales of recreational boats is expected to fuel the growth in demand for inboard engines. For instance, according to information provided by the National Marine Manufacturers Association (NMMA), in 2021, recreational marine expenditures amounted to USD 56.7 billion, making it the second-highest-ranked year in the past two decades.

  4. Regional Analysis Asia Pacific inboard engines market is expected to cross USD 215 million by 2032. The rise in the growth of the maritime tourism sector along with changing consumer buying behaviors will fuel industry expansion. Various government policies are encouraging and upgrading the boating infrastructure in the region. Regional government bodies are implementing regulations and standards to maintain operational safety during boating activities. There is also an increase in the luxury boat demand which is expected to drive high-powered marine engine adoption across APAC. • Competitive Analysis • Meta, Google LLC, VaynerMedia, Omnicom Group Inc., ibex Limited, Twitter, Inc., and Hulu LLC.

  5. Inboard Engines Market @ https://www.gminsights.com/industry-analysis/inboard-engines-market Request for sample of this research report @ https://www.gminsights.com/request-sample/detail/5446 Request for customization: https://www.gminsights.com/roc/5446

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