Volvo Penta holds world-leading positions as an engine supplier to leisure boats, but the largest potential for growth in coming years is expected to be found within the company’s other business segments. According to President Björn Ingemanson this is because the leisure boat industry has not recuperated after the severe crisis in 2009.
- Marine Leisure is still our core business, but we do not expect a quick recovery in this market. If we are to increase our sales, growth must come from Industrial and Marine Commercial, says Björn Ingemanson.
Within versatile industrial engines, i.e engines used in for example mining vehicles, stone crushers, cranes and forklift trucks, Volvo Penta has more to harvest on a growing market, according to Björn Ingemanson.
- Currently, we hold a small portion of this market, but our ambition is to increase substantially, he says.
The other area with considerable potential for growth is the commercial boat segment, which is not as sensitive to economic ups and downs as the market for leisure boats. Volvo Penta’s objective is to double the business in this area by 2015. Volvo Penta is also to prepare for new markets, mainly in Asia but also in Africa and South America.
Volvo Penta's focus areas
- Grow the Industrial Versatile Engine (VE) business.
- Grow the Marine Commercial business.
- Leverage on growth in emerging markets.
- Build a world-class supply system.
- Build a customer- and quality-focused company culture.