Small Boats Market Share, Industry Growth, Trends, Business Opportunities, Challenges, Growth Insights to 2027
Small Boats Market size is
anticipated to rise at a CAGR of 14.8% and reach USD
56,199.1 million by the end of 2027. This growth is accountable to the
increasing number of pleasure riding and fishing activities across water bodies
worldwide.
Fortune Business Insights
titled, “Small boats Market Size,
Share & COVID-19 Impact Analysis, By Product (Sail Boat, Powered Boat,
Personal Watercraft Boat, and Others), By Application Type (Pleasure, Fishing,
Defense and others), and Regional Forecast, 2020-2027,” the value of this
market was USD 18,653.5 million in 2019 and the forecast
period is set between 2020 and 2027.
The rapid spread of the novel
coronavirus pandemic has left the entire world devastated owing to the lack of
healthcare facilities that is not able to suffice to the increasing patient
pool. The imposition of temporary lockdown in all over the world has impacted
almost all businesses worldwide. Some of them are trying to operate within
homes while some other businesses such as import and export or other facilities
are at a temporary halt. This panic has created a dent in the world economy.
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List of the Leading Companies Profiled
in the Global Small Boats Market are:
- Group Bénéteau (France)
- Marine Products Corporation (Georgia, United States)
- Brunswick Corporation (Illinois, United States)
- MasterCraft Boat Company, LLC (Tennessee, United States)
- Sunseeker (UK)
- Azimut-Benetti (Italy)
- Ferretti (Italy)
- Bavaria Yachtbau (Germany)
- Malibu boats inc. (Tennessee, United States)
- Yamaha (Shizuoka, Japan)
- Boats inc. (Florida, United States)
- Other Players
The report is based on the following
questions:
- How fierce is the market competition?
- Who are the major players of the market for small boats and what
are the strategies adopted by them?
- Which is the leading segment of this market?
- What are the significant industry developments of this market?
Drivers & Restraints:
Rising Expenditure on Leisure and
Recreation Activities to Add Impetus
The increasing population of high net
worth individuals (HNWIs) and the rise in offshore activities for recreational
or leisure purposes are the key factors boosting the global small boats market
growth. The increasing popularity of connected boats and rise in the number of
water sports and other water-based activities such as waterskiing,
wakeboarding, and others will also add impetus to the growth of the market.
On the negative side, the rise in level
of water pollution and high cost of installation and maintenance may hamper the
growth of the market in the forecast duration. Nevertheless, the advent of
yacht monitoring solutions is likely to create new growth opportunities for the
market in the coming years.
Segmentation:
Powered Boats Segment Accounted for the
Highest Share Owing to the Ease of Availability
Powered boats are the most common type
of boats, thereby helping this segment earn dominance. Powered boats are of
different types such as bay boat, bass boat, cuddy cabin, cruiser, and
bowrider, among others. The availability of these types of boats stands as the
key factor helping the powered boat segment earn the largest small boats market
share in 2019 and continue doing so in the coming years.
Regional Analysis:
Europe to Continue Dominance Owing to
Increasing Popularity of Pleasure Tours
Among all regions, Europe emerged
dominant on account of the increasing urbanization and rise in heavy tourist
attraction especially for water rides. This, coupled with the increasing
fishing activities and rise in the number of pleasure activities, will also aid
in expansion of the market in the coming years. On the other side, the market
in North America will showcase a significant growth rate on account of the
presence of the majority of defense boats and the heavy investments on upgraded
and innovative small boats. In 2019, Europe earned a revenue of USD 8,146.3
million on account of the presence of several major market vendors.
New players are penetrating into the
Asia Pacific market, thereby helping this region generate substantial revenue
for the overall market in the forecast duration.
Competitive Landscape:
Players Focusing on Strengthening their
Portfolio to Gain Competitive Edge
The competitive landscape of the global
market for small boats is highly fragmented on account of the presence of many
players. Some of them are focusing on strengthening their portfolio to gain a
significant share in the market. The others are engaging in new product
launches to gain a competitive edge in the long run.
Read Detailed Summary of 150 Pages
Premium Research Report With TOC:
https://www.fortunebusinessinsights.com/small-boats-market-103622
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Merger, Acquisitions, and Partnerships
- Distributor Analysis – For Major Players
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Global Small Boats Market Analysis, Insights and Forecast,
2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Sail Boat
- Powered Boat
- Personal Watercraft Boat
- 5.3.4. Others
- Market Analysis, Insights and Forecast – By Application Type
- Pleasure
- Fishing
- Defense
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the World
TOC Continued…!
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