Outboard Electric Motors Market Report and Forecast 2025-2034

The global outboard electric motors market size is expected to grow at a CAGR of 5.20% between 2025 and 2034. The major market drivers include rising demand from the marine industry, environment friendliness of outboard electric motors, and increasing research and development activities by manufacturers.

Key Trends in the Market

An outboard electric motor is a self-contained propulsion system for a boat, that is used to power the boat as well as manoeuvre it. The self-contained unit is an actuation system that includes a gearbox, jet drive or propeller, and engine. Outboard electric motors are often preferred over gas motors because outboard electric motors are light, compact, reliable, and more powerful.

• Use of electricity driven products is increasing rapidly across the globe owing to improved electrification and transformed mobility. This is expected to propel the demand for outboard electric motors with high power and efficient electric drive systems.
• The demand for outboard electric motors is expected to rise owing to the technological improvements and developments in the market, and increasing availability of outboard electric motors with different capacities and specialised features.
• Increasing investments from the governments of various countries towards supporting the development of electricity-driven products to reduce air pollution is contributing towards the expansion of the outboard electric motors market.

Market Segmentation

The report titled “Outboard Electric Motors Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Outboard Electric Propulsion Motors
• Outboard Electric Trolling Motors

Market Breakup by Application

• Municipal Application
• Civil Entertainment
• Commercial Applications
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market Share by Type

Based on type, outboard electric propulsion motors are expected to account for a sizable share of the outboard electric motors market. Outboard electric propulsion motors offer greater power and speed as compared to outboard electric trolling motors, due to which they are suited for a wider range of applications. They also have higher dynamic horsepower, and are available in different capabilities. Growing prevalence of recreational boating and marine tourism are further increasing the adoption of outboard electric propulsion motors to provide boats with adequate power.

Market Share by Region

North America is anticipated to account for a significant share in the outboard electric motors market because of the early adoption of these motors in the region by a large number of consumers. Moreover, widespread presence of outboard electric motor manufacturers and key players in the region is further supporting the growth of the market in North America. Fishing and recreational boating are prevalent in the region, supported by the vast coastline in North America and numerous water bodies, which is boosting the demand for outboard electric motors.

Competitive Landscape

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global outboard electric motors market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

Honda Motor Co., Inc.

Honda Motor Co., Inc. is a multinational company that has its headquarters in Tokyo, Japan. Founded in 1948, the company is known for manufacturing and supplying products such as automobiles, luxury vehicles, and scooters, among others.

Torqeedo GmbH

Torqeedo GmbH was established in 2005 and is headquartered in Bayern, Germany. It is a commercial company that is involved in the designing, manufacturing, and marketing of electric boat motors.

Johnson Outdoors Inc.

Johnson Outdoors Inc. was founded in 1970 and is based in Wisconsin in the United States. The company is a global manufacturer of outdoor recreational products such as diving equipment, outdoor clothing, watercraft, and camping gear.

Other market players include Yamaha Motor Co., Ltd., Suzuki Motor Corporation, Ray Electric Outboards Inc., Epropulsion, and CSM Tech Co., Ltd, among others.