Global boat market expected to reach approximately USD 42,046.3 million by 2022, growing at a CAGR of 9.7% between 2017 and 2022. The report provides detailed competitive outlook including market share and company profiles of the key players operating in the global market.
The report covers detailed analysis and forecast for the Boat market on a global and regional level from 2016 to 2022. The study offers historic data of 2014, 2015, and 2016 along with a forecast from 2017 to 2022 based on revenue (USD Million). The study comprises a comprehensive view of the market with the review of market drivers, restraints, and opportunities. It also provides the level of impact of drivers and restraints on the Boat market between 2016 and 2022.
The study included a detailed competitive scenario and product portfolio of key vendors. The report evaluates Porter’s Five Forces model to analyze the different factors affecting the growth of the Boat market. Moreover, the study encompasses market attractiveness analysis, which provides the most attractive and least attractive market segments information by application, product type, and region.
The report includes detailed segmentation of Boat market based on product type and region. Pleasure boat, fishing boat, commercial boat and military boat are key products in the Boat market. Major regional segment analyzed in this report include North America, Europe, Asia Pacific, Latin America, Middle East & Africa and the countries analyzed include Bahrain, Saudi Arabia, UAE, Oman, Qatar, and Kuwait.
The report provides detailed competitive outlook including market share and company profiles of the key players operating in the global market. The key participants listed in the report 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. This report segments the global Boat market as follows:
Global Boat Market: Product type Segment Analysis
Global Boat Market: Regional Segment Analysis
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.
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:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
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.
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:
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.
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.