IMARC Group has recently released a new research study titled "Small Boats Market Report by Product Type (Powered Boat, Sailboat, Personal Watercraft, and Others), Application (Pleasure, Fishing, Defense, and Others), and Region 2024-2032", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
The global small boats market size reached US$ 31.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 70.9 Billion by 2032, exhibiting a growth rate (CAGR) of 9.61% during 2024-2032.
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Factors Affecting the Growth of the Small Boats Industry:
- Increasing Recreational Boating Activities:
Recreational boating has seen significant growth in recent years, driven by a growing interest in outdoor leisure activities. This trend is supported by a rising number of enthusiasts who seek new and enjoyable experiences on the water. As people become more interested in activities such as fishing, sailing, and watersports, the demand for small boats, including sailboats, motorboats, and personal watercraft, has increased. Additionally, the expansion of recreational boating is supported by improvements in marina infrastructure, including better access to waterways and more facilities for boat storage and maintenance. This infrastructure development makes it easier for individuals to engage in boating, further fueling market growth.
- Rising Disposable Incomes:
Economic growth and increased disposable incomes have enabled a larger segment of the population to invest in leisure activities such as boating. As people experience higher income levels, they are more willing to spend on luxury items and recreational activities, including small boats. This trend is evident in both developed and emerging economies, where rising affluence translates into increased spending power. In particular, the growing middle class in emerging markets is contributing significantly to the expansion of the small boats market. This demographic shift creates new opportunities for manufacturers and retailers to target a broader audience with various small boat models that cater to different income levels and preferences.
- Advancements in Boat Technology:
Technological advancements have played a crucial role in driving the small boats market by enhancing performance, safety, and user experience. Innovations such as improved hull designs, more efficient propulsion systems, and advanced navigation and control systems have made boating more accessible and enjoyable. For example, the integration of GPS technology, fish finders, and electronic control systems has simplified navigation and enhanced the overall boating experience. Furthermore, advancements in materials and manufacturing techniques have led to lighter, more durable, and fuel-efficient boats. These technological improvements not only attract new customers but also encourage existing boat owners to upgrade their vessels, thereby stimulating market growth.
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Small Boats Market Report Segmentation:
By Product Type:
- Powered Boat
- Sailboat
- Personal Watercraft
- Others
Powered boats dominate due to their versatility and popularity for various recreational and utility purposes.
By Application:
- Pleasure
- Fishing
- Defense
- Others
Fishing boats are widely favored for both commercial and recreational fishing activities, driving their market prominence.
Regional Insights:
- North America
- United States
- Canada
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Europe has a well-established boating culture, extensive waterways, and strong infrastructure, making it the leading market for small boats.
Global Small Boats Market Trends:
The growth of the small boats market is driven by increased environmental awareness and the rise of eco-friendly boating solutions. Consumers are seeking sustainable and energy-efficient boats that minimize environmental impact, leading to innovations in electric propulsion systems and green technologies, which attract eco-conscious buyers and expand market opportunities. Besides this, the surge in experiential travel and adventure tourism, where small boats offer unique access to remote and scenic locations is boosting the demand for boats as part of exclusive travel experiences.
Top Companies Operated in Small Boats Industry:
- Brunswick Corporation
- Grady-White Boats Inc
- Groupe Beneteau
- Malibu Boats Inc.
- Marine Products Corporation
- Sunseeker International
- Yamaha Motor Co Ltd.
Key Highlights of the Report:
- Market Performance (2018–2023)
- Market Outlook (2024–2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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