Posted On: 2022-02-17
Gasoline fueled outboard engines acquired the largest market revenue share in the Thailand Outboard Engines Market – 6Wresearch
Thailand outboard engines market experienced a downfall in the year 2020 owing to the outbreak of covid-19 and subsequent steps taken by the authorities to contain the spread of the virus resulting in sudden drop in international tourist arrivals which further impacted leisure and watersport tourism leading to sharp decline in demand for outboard engines in Thailand.
According to 6Wresearch, Thailand Outboard Engines Market size is projected to grow at a CAGR of 6.6% during 2021-2027. Rise in beach tourism in popular destinations such as Phuket and Pattaya drove the demand for outboard engines for installation in yachts, pontoons, sailboats and speed boats. Moreover, Commercial activities such as transport & logistic services and fishing industry also acted as a catalyst to the growth of outboard engine market in Thailand.
According to Arjun Khurana, Research Associate, 6Wresearch, “By engines types, 4-stoke outboard engines registered highest revenue share in the market on account of higher consumer preference due to their better performance and high fuel efficiency. By applications, recreational application acquired highest revenue share in Thailand outboard engine market and the same trend is expected to continue in the coming years on account of rising maritime and leisure tourism in popular tourist destinations such as Phuket and Pattaya which would drive the demand for outboard engines for installation in sail boats, pontoon boats, speed boats and yachts.”
According to Chhavi Malpani, Research Manager, 6Wresearch, “By power, above 100 HP powered engines accounted for the highest share in Thailand outboard engines market on account of extensive use across commercial sector such as logistics and transportation as well as high demand arising from recreational water sport activities.”
Some of the major companies in Thailand Outboard Engines market include Yamaha, Honda Marine, Suzuki and Mercury.
“Thailand outboard engines market (2021-2027)” report provides an in-depth analysis with 20 figures and 09 tables, covered in 79 pages. The report estimates and forecast the overall Thailand outboard engines market by fuel types, engine types, power, ignition types, application and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.