Boat Market - Global Industry Analysis

Boat Market By Type (Pleasure Boat, Fishing Boat, Commercial Boat, And Military Boat): Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028

Published Date: 02-Jun-2021 Category: Consumer Goods Report Format : PDF Pages: 153 Report Code: ZMR-2717 Status : Published

The Global Boat market accounted for USD 30,786.3 Million in 2020 and is expected to reach USD 66,106.8 Millionby 2028, growing at a CAGR of around 10% between 2021 and 2028.

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Description

Market Overview

The global boat market accounted for USD 30,786.3 Million in 2020 and is expected to reach USD 66,106.8 Million by 2028, growing at a CAGR of around 10% between 2021 and 2028.

Boats are watercraft that have historically been used to travel by sea, river, and lake. The boating industry has advanced significantly over the years, expanding the range of boat uses in fields such as military, tourism, fishing, and import-export. A boat is a category of watercraft that comes in a variety of shapes and sizes, but it is usually smaller than a ships, which is differentiated by its greater scale, form, freight or passenger capacity, or ability to transport passengers. The boats are divided into two categories: unpowered and man-powered. Fishing boats are designed specifically for fishing and can be used in both salt and freshwater. Pleasure craft, which include ski boats, pontoon boats, and sailboats, are designed for pleasure boating. Houseboats have the comfort of being able to live on the water.

With the evolution in technology, the shipping industry has seen an increase in the demand for technologically innovative features in various boat types. Over the forecast years, the global boat industry is predicted to rise significantly. During the forecast era, the global boat market is expected to expand at a healthy pace. Various growth factors are supporting the industry, including the increased use of boating as a leisure sport, an increase in the number of high net worth individuals, an improved consumer satisfaction index, and government interventions in major countries to stimulate interest in boating among the masses.

COVID-19 Impact Analysis

The global Boat market has witnessed a slight decline in the sales for short term due to the lockdown enforcement placed by various governments of emerging nations in order to contain COVID spreading. The restrictions imposed by various nations to contain COVID had stopped the production resulting in a disruption across the whole supply chain which in turn affected tourism, fishing and transport industry. However, the global markets are slowly opening to their full potential and tourism industry is getting back on track, which will make the market remain bullish in upcoming year.

The significant decrease in the global Boat market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

Growth Factors

Over the projected time-frame, the global boat industry is predicted to rise significantly. Increasing disposable income, the rising trend of leisure activities, and creative trends in the global tourism industry are driving the sector. But apart from that, there are certain limitations on the boat industry, such as labor-intensive production practices, government environmental laws and regulations, and rising raw material costs.

The technological advancement in the products manufacturing is expected to sight critical growth opportunity during the forecast period.

Report Scope:

Report Attribute	Details
Base Year	2020
Historic Years	2016 - 2020
Forecast Years	2021 - 2028
Segments Covered	By Product Type, By Application, and By End Use
Forecast Units	Value (USD Billion), and Volume (Units)
Quantitative Units	Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered	U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered	10 companies with scope for including additional 15 companies upon request
Report Coverage	Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope	Avail customized purchase options to meet your exact research needs.

Product Type Segment Analysis Preview

The global boat market has been divided into four categories based on product type: pleasure, fishing, commercial, and military. In 2020, the pleasure boat category accounted for 72.3 % of the total industry in terms of sales. Another important segment is fishing boats, which is expected to rise at a CAGR of 9.77% over the forecast period.

Key Market Players & Competitive Landscape

Major market players of Boat market comprise Willard Marine, South Boats IOW, Fassmer, HiSiBi, Asis Boats, LOMOcean Design, SAFE Boats, Maritime Partner AS, Sunbird Yacht, FB Design, BCGP, Alutech, Connor Industries, MARINE, and PALFINGER among others play an important role.

The global Boat Market is segmented as follows:

By Product Type

Pleasure Boat
- Cuddy
- Deck
- Pontoons
- Others
Fishing Boat
- Convertible Fishing Boat
- Bass Boat
- Bay Boat
- Bowrider
- Others
Commercial Boat
- Charter Boats
- Airboats
- Houseboats
- Others
Military Boat

By Region

North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa

Table Of Content

Chapter No. 1: Introduction
- 1.1. Report Description
  - 1.1.1. Purpose of the Report
  - 1.1.2. USP & Key Offerings
- 1.2. Key Benefits for Stakehulders
- 1.3. Target Audience
- 1.4. Report Scope
Chapter No. 2: Executive Summary
- 2.1. Key Findings
  - 2.1.1. Top Investment Pockets
    - 2.1.1.1. Market Attractiveness Analysis, By Product Type
    - 2.1.1.2. Market Attractiveness Analysis, By Region
- 2.2. Market Snapshot
- 2.3. Global Boat Market, 2016 – 2028 (USD Million)
- 2.4. Insights from Primary Respondents
Chapter No. 3: COVID 19 Impact Analysis
- 3.1. Impact Assessment of COVID-19 Pandemic, By Region
  - 3.1.1. North America
  - 3.1.2. Europe
  - 3.1.3. Asia Pacific
  - 3.1.4. Latin America
  - 3.1.5. The Middle-East and Africa
- 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
- 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
- 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
- 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
  - 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
- 3.6. Short Term Dynamics
- 3.7. Long Term Dynamics
Chapter No. 4: Boat Market – Product Type Segment Analysis
- 4.1. Overview
  - 4.1.1. Market Revenue Share, By Product Type, 2020 & 2028
- 4.2. Pleasure Boat
  - 4.2.1. Market Size and Forecast, By Region (USD Million)
  - 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
  - 4.2.3. Key Market Trends, Growth Factors, & Opportunities
- 4.2.4 Cuddy
  - 4.2.4.1 Key Market Trends, Growth Factors, & Opportunities
- 4.2.5 Deck
  - 4.2.5.1 Key Market Trends, Growth Factors, & Opportunities
- 4.2.6 Pontoons
  - 4.2.6.1 Key Market Trends, Growth Factors, & Opportunities
- 4.2.7 Others
  - 4.2.4.1 Key Market Trends, Growth Factors, & Opportunities
- 4.3. Fishing Boat
  - 4.3.1. Market Size and Forecast, By Region (USD Million)
  - 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
  - 4.3.3. Key Market Trends, Growth Factors, & Opportunities
- 4.3.4 Convertible Fishing Boat
  - 4.3.4.1 Key Market Trends, Growth Factors, & Opportunities
- 4.3.5 Bass Boat
  - 4.3.5.1 Key Market Trends, Growth Factors, & Opportunities
- 4.3.6 Bay Boat
  - 4.3.6.1 Key Market Trends, Growth Factors, & Opportunities
- 4.3.7 Bowrider
  - 4.3.7.1 Key Market Trends, Growth Factors, & Opportunities
- 4.3.8 Others
  - 4.3.8.1 Key Market Trends, Growth Factors, & Opportunities
- 4.4. Commercial Boat
  - 4.4.1. Market Size and Forecast, By Region (USD Million)
  - 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
  - 4.4.3. Key Market Trends, Growth Factors, & Opportunities
  - 4.4.4. Charter Boats
  - 4.4.4.1 Key Market Trends, Growth Factors, & Opportunities
  - 4.4.5. Airboats
  - 4.4.5.1 Key Market Trends, Growth Factors, & Opportunities
  - 4.4.6. Houseboats
  - 4.4.6.1 Key Market Trends, Growth Factors, & Opportunities
  - 4.4.7. Others
  - 4.4.7.1 Key Market Trends, Growth Factors, & Opportunities
- 4.5. Military Boat
  - 4.5.1. Market Size and Forecast, By Region (USD Million)
  - 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
  - 4.5.3. Key Market Trends, Growth Factors, & Opportunities
Chapter No. 5 Boat Market – Regional Analysis
- 5.1. Overview
  - 5.1.1. Global Market Revenue Share, By Region, 2020 & 2028
  - 5.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Million)
- 5.2. North America
  - 5.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Million)
  - 5.2.2. North America Market Revenue, By Product Type, 2016 – 2028
  - 5.2.5. U.S.
    - 5.2.5.1. U.S. Market Revenue, By Product Type, 2016 – 2028
  - 5.2.6. Canada
    - 5.2.6.1. Canada Market Revenue, By Product Type, 2016 – 2028
  - 5.2.7. Mexico
    - 5.2.7.1. Mexico Market Revenue, By Product Type, 2016 – 2028
- 5.3. Europe
  - 5.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Million)
  - 5.3.2. Europe Market Revenue, By Product Type, 2016 – 2028
  - 5.3.5. Germany
    - 5.3.5.1. Germany Market Revenue, By Product Type, 2016 – 2028
  - 5.3.6. France
    - 5.3.6.1. France Market Revenue, By Product Type, 2016 – 2028
  - 5.3.7. U.K.
    - 5.3.7.1. U.K. Market Revenue, By Product Type, 2016 – 2028
  - 5.3.8. Italy
    - 5.3.8.1. Italy Market Revenue, By Product Type, 2016 – 2028
  - 5.3.9. Spain
    - 5.3.9.1. Spain Market Revenue, By Product Type, 2016 – 2028
  - 5.3.10. Rest of Europe
    - 5.3.10.1. Rest of Europe Market Revenue, By Product Type, 2016 – 2028
- 5.4. Asia Pacific
  - 5.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Million)
  - 5.4.2. Asia Pacific Market Revenue, By Product Type, 2016 – 2028
  - 5.4.5. China
    - 5.4.5.1. China Market Revenue, By Product Type, 2016 – 2028
  - 5.4.6. Japan
    - 5.4.6.1. Japan Market Revenue, By Product Type, 2016 – 2028
  - 5.4.7. India
    - 5.4.7.1. India Market Revenue, By Product Type, 2016 – 2028
  - 5.4.8. South Korea
    - 5.4.8.1. South Korea Market Revenue, By Product Type, 2016 – 2028
  - 5.4.9. South-East Asia
    - 5.4.9.1. South-East Asia Market Revenue, By Product Type, 2016 – 2028
  - 5.4.10. Rest of Asia Pacific
    - 5.4.10.1. Rest of Asia Pacific Market Revenue, By Product Type, 2016 – 2028
- 5.5. Latin America
  - 5.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Million)
  - 5.5.2. Latin America Market Revenue, By Product Type, 2016 – 2028
  - 5.5.5. Brazil
    - 5.5.5.1. Brazil Market Revenue, By Product Type, 2016 – 2028
  - 5.5.6. Argentina
    - 5.5.6.1. Argentina Market Revenue, By Product Type, 2016 – 2028
  - 5.5.7. Rest of Latin America
    - 5.5.7.2. Rest of Latin America Market Revenue, By Product Type, 2016 – 20285
- 5.6. The Middle-East and Africa
  - 5.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Million)
  - 5.6.2. The Middle-East and Africa Market Revenue, By Product Type, 2016 – 2028
  - 5.6.5. GCC Countries
    - 5.6.5.1. GCC Countries Market Revenue, By Product Type, 2016 – 2028
  - 5.6.6. South Africa
    - 5.6.6.1. South Africa Market Revenue, By Product Type, 2016 – 2028
  - 5.6.7. Rest of Middle-East Africa
    - 5.6.7.1. Rest of Middle-East Africa Market Revenue, By Product Type, 2016 – 2028
Chapter No. 6: Boat Market – Industry Analysis
- 6.1. Introduction
- 6.2. Market Drivers
  - 6.2.1. Driving Factor 1 Analysis
  - 6.2.2. Driving Factor 2 Analysis
- 6.3. Market Restraints
  - 6.3.1. Restraining Factor Analysis
- 6.4. Market Opportunities
  - 6.4.1. Market Opportunity Analysis
- 6.5. Porter’s Five Forces Analysis
- 6.6. PEST Analysis
- 6.7. Regulatory Landscape
- 6.8. Technology Landscape
- 6.9. Regional Market Trends
  - 6.9.1. North America
  - 6.9.2. Europe
  - 6.9.3. Asia Pacific
  - 6.9.4. Latin America
  - 6.9.5. The Middle-East and Africa
- 6.10. Pricing Analysis
- 6.11. Value Chain Analysis
- 6.12. Downstream Buyers
- 6.13. Distributors/Traders List
Chapter No. 7: Competitive Landscape
- 7.1. Company Market Share Analysis – 2019
  - 7.1.1. Global Boat Market: Company Market Share, 2019
  - 7.1.2. Global Boat Market, Company Market Revenue, 2016 – 2019 (USD Million)
  - 7.1.3. Global Boat Market, Company Y-o-Y Growth, 2017 – 2028 (%)
  - 7.1.4. Global Boat Market: Radar Determinant Chart, 2019
- 7.2. Strategic Developments
  - 7.2.1. Acquisitions & Mergers
  - 7.2.2. New Product Launch
  - 7.2.3. Regional Expansion
- 7.3. Company Strategic Developments – Heat Map Analysis
Chapter No. 8: Company Profiles
- 8.1. Willard Marine
  - 8.1.1. Company Overview
  - 8.1.2. Key Executives
  - 8.1.3. Product Portfolio
  - 8.1.4. Financial Overview
  - 8.1.5. Operating Business Segments
  - 8.1.6. Business Performance
  - 8.1.7. Recent Developments
- 8.2. South Boats IOW
- 8.3. Fassmer
- 8.4. HiSiBi
- 8.5. Asis Boats
- 8.6. LOMOcean Design
- 8.7. SAFE Boats
- 8.8. Maritime Partner AS
- 8.9. Sunbird Yacht
- 8.10. FB Design
- 8.11. BCGP
- 8.12. Alutech
- 8.13. Connor Industries
Chapter No. 9: Marketing Strategy Analysis
- 9.1. Marketing Channel
- 9.2. Direct Marketing
- 9.3. Indirect Marketing
- 9.4. Marketing Channel Development Trends
- 9.5. Economic/Pulitical Environmental Change
Chapter No. 10: Research Methodology
- 10.1. Research Methodology
- 10.2. Phase I - Secondary Research
- 10.3. Phase II - Data Modeling
  - 10.3.1. Company Share Analysis Model
  - 10.3.2. Revenue Based Modeling
- 10.4. Phase III - Primary Research
- 10.5. Research Limitations
  - 10.5.1. Assumptions

Table Of Figures

List of Figures

FIG NO. 1. Market Attractiveness Analysis, By Product Type
FIG NO. 2. Market Attractiveness Analysis, By Region
FIG NO. 3. Global Boat Market Revenue, 2016 – 2028 (USD Million)
FIG NO. 4. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 5. Market Revenue Share, By Product Type, 2020 & 2028
FIG NO. 6. Global Boat Market for Pleasure Boat, Revenue (USD Million) 2016 – 2028
FIG NO. 7. Comparative Revenue Analysis of Boat Market for Pleasure Boat, By Country, 2020 & 2028
FIG NO. 8. Global Boat Market for Fishing Boat, Revenue (USD Million) 2016 – 2028
FIG NO. 9. Comparative Revenue Analysis of Boat Market for Fishing Boat, By Country, 2020 & 2028
FIG NO. 10. Global Boat Market for Commercial Boat, Revenue (USD Million) 2016 – 2028
FIG NO. 11. Comparative Revenue Analysis of Boat Market for Commercial Boat, By Country, 2020 & 2028
FIG NO. 12. Global Boat Market for Military Boat, Revenue (USD Million) 2016 – 2028
FIG NO. 13. Comparative Revenue Analysis of Boat Market for Military Boat, By Country, 2020 & 2028
FIG NO. 14. Global Boat Market Revenue Share, By Region, 2020 & 2028
FIG NO. 15. North America Boat Market Revenue, 2016 - 2028 (USD Million)
FIG NO. 16. Porter’s Five Forces Analysis for Global Boat Market
FIG NO. 17. PEST Analysis for Global Boat Market
FIG NO. 18. Pricing Analysis for Global Boat Market
FIG NO. 19. Value Chain Analysis for Global Boat Market
FIG NO. 20. Company Share Analysis, 2019
FIG NO. 21. Radar Determinant Chart, 2019
FIG NO. 22. Company Strategic Developments – Heat Map Analysis
FIG NO. 23. Willard Marine Business Segment Revenue Share, 2020 (%)
FIG NO. 24. Willard Marine Geographical Segment Revenue Share, 2020 (%)
FIG NO. 25. Market Channels
FIG NO. 26. Marketing Channel Development Trend
FIG NO. 27. Growth in World Gross Product, 2008-2018
FIG NO. 28. Research Methodology – Detailed View
FIG NO. 29. Research Methodology

Table Of Tables

List of Tables

TABLE NO. 1. Global Boat Market: Snapshot
TABLE NO. 2. Quarterly Boat Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Boat Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
TABLE NO. 6. Global Boat Market for Pleasure Boat, by Region, 2016 – 2028 (USD Million)
TABLE NO. 7. Global Boat Market for Fishing Boat, by Region, 2016 – 2028 (USD Million)
TABLE NO. 8. Global Boat Market for Commercial Boat, by Region, 2016 – 2028 (USD Million)
TABLE NO. 9. Global Boat Market for Others, by Region, 2016 – 2028 (USD Million)
TABLE NO. 10. Global Boat Market Revenue, By Region, 2016 – 2028 (USD Million)
TABLE NO. 11. North America Boat Market Revenue, By Country, 2016 – 2028 (USD Million)
TABLE NO. 12. North America Boat Market Revenue, By Product Type, 2016 – 2028 (USD Million)
TABLE NO. 13. U.S. Boat Market Revenue, By Product Type, 2016 – 2028 (USD Million)
TABLE NO. 14. Canada Boat Market Revenue, By Product Type, 2016 – 2028 (USD Million)
TABLE NO. 15. Mexico Boat Market Revenue, By Product Type, 2016 – 2028 (USD Million)
TABLE NO. 16. Drivers for the Boat Market: Impact Analysis
TABLE NO. 17. Restraints for the Boat Market: Impact Analysis
TABLE NO. 18. Major Buyers of Boat
TABLE NO. 19. Distributors/Traders List of Boat
TABLE NO. 20. Global Boat Market, Company Market Revenue, 2016 – 2019 (USD Million)
TABLE NO. 21. Global Boat Market, Company Y-o-Y Growth, 2017 – 2028 (USD Million)

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Boat market. Zion Market Research has collected and analyzed key data belong to the global Boat market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Boat across the world has been calculated through primary and secondary research.

Zion Market Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.

For this study, Zion Market Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Boat industry. Primary research makes up the major source of data collection and validation.

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
Helps in validating and strengthening the secondary research findings
Further, develops the analysis team’s expertise and market understanding
Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
Purchasing managers, technical personnel, distributors and resellers
Outside experts: Investment bankers, valuation experts, and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
IDC and other relevant magazines
Internal and external proprietary databases, and relevant patent and regulatory databases
National government documents, statistical databases, and market reports

News articles, press releases, and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Boat market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

Demographic data: Population split into segments
Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
Industry indicators: Expenditure, technology stage, and infrastructure, sector growth and facilities
Data is then cross-checked by an expert panel.

Free Analysis

A boat is a type of watercraft used for travel or work on water. Boats come in a wide variety of sizes and shapes. There are many types of methods for boat construction depending upon where it is to be used. Traditionally boats were used for transportation since the ancient times. Aluminum, fiberglass, steel, and wood are commonly used materials for boat construction.

Depending upon the application the boat is classified into four main types such as pleasure boat, fishing boat, a commercial boat, and military boat. A pleasure boat is a boat used for recreational activities. Cuddy boat, deck boat, and pontoon boat are the common types of a pleasure boat. A fishing boat is a boat used for commercial and recreational fishing. The commercial boat is the boat used for hiring passengers and transportation of commercial goods. The military boat is the boat used for nation’s border security and protection by the navy, customs, and defense departments.

Global Boat Market

The growing trend of recreational activities coupled with innovative developments and huge investments in tourism industry increased the demand for the pleasure boats worldwide. Increasing population and household income, decreasing fuel prices, a willingness among people for leisure activities, development of the modern cruise industry, and growing import-export business across the world are important factors that are driving the global boat market. However, the increased cost of raw materials and component used in boat construction and labor-intensive manufacturing processes are the challenges of global boat market.

Based on the type of boat the market can be segmented into Pleasure boat, Fishing boat, Commercial boat, and Military boat; wherein the pleasure boat was the leading segment and it accounted for over 73% revenue share in 2016. Another segment of the fishing boat accounted for over 22% revenue share in 2016 and is expected to grow at a CAGR of around 9.45% during the forecast period.

By geography, North America accounted for the largest portion of market share in terms of revenue in 2016 and is expected to grow at a CAGR of 7.5% during the forecast period. The industry is expected to be driven by the growing disposable income, steady economic conditions, increasing number of leisure sports, and rapidly evolving coastal and maritime tourism. In terms of revenue, North America was followed by Europe and the Asia Pacific in 2016. Europe and the Asia Pacific are expected to grow at a CAGR of 9.62% and 10.3% respectively during the forecast period.

Top companies in the global boat market are Willard Marine, South Boats IOW, Fassmer, HiSiBi, Asis Boats, LOMOcean Design, SAFE Boats, Maritime Partner AS, Sunbird Yacht, FB Design, BCGP, Alutech, Connor Industries, MARINE, and PALFINGER. Due to Innovations in boat construction technologies and changing consumer preferences, vendors are expected to compete with each other for launching more varieties of boats during the forecast period.

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FrequentlyAsked Questions

What was the value of global Boat Market in 2020?

The global Boat Market was valued at USD 30,786.3 Million in 2020.

What will be the size of the global Boat Market in 2028?

The global Boat Market is expected to reach USD 66,106.8 Million by 2028, growing at a CAGR of 10% between 2021 to 2028.

What are the key factors driving the global Boat Market growth?

The global boat industry is predicted to rise significantly. Increasing disposable income, the rising trend of leisure activities, and creative trends in the global tourism industry are driving the sector. But apart from that, there are certain limitations on the boat industry, such as labor-intensive production practices, government environmental laws and regulations, and rising raw material costs.

Which region will make notable contributions in the global Boat Market?

North America boat market is the fastest growing market globally and accounted for 28.80% share in terms of value in 2020 and will continue to dominate the market in coming years. While Europe, Asia Pacific will be having significant role in driving the market.

Who are the major companies operating in the global Boat Market?

Some of the major companies operating in boat market are Willard Marine, South Boats IOW, Fassmer, HiSiBi, Asis Boats, LOMOcean Design, SAFE Boats, Maritime Partner AS, Sunbird Yacht, FB Design, BCGP, Alutech, Connor Industries, MARINE, and PALFINGER.