What is the Historical Analysis of the Small Boats Market Size?
The small boats market has seen considerable growth due to a variety of factors.
• The market size for small boats has seen swift expansion in the past few years. An upward trajectory is anticipated, as the market will expand from $39.02 billion in 2024 to $43.52 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 11.5%.
The historical period's growth is attributable to aspects such as economic stability and disposable income, trends in tourism and leisure, regulatory climate, boating infrastructure, and consistent economic solidity.
What Is The Projected Growth And Market Size For The Small Boats
The small boats market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the small boats market size to experience swift expansion in the coming years, predicted to reach $72.16 billion by 2029, with a compound annual growth rate (CAGR) of 13.5%.
This anticipated growth within the period can be traced back to factors like escalating urbanization and population enlargement, heightened ecological consciousness, the burgeoning culture of recreational boating, stricter safety regulations, and the application of sustainable practices. During the forecast period, the key trends to look out for include the metamorphosis into digital and better connectivity, progression in technology, governmental regulations and safety prerequisites, the expansion of online sales and direct-to-consumer frameworks, as well as the adoption of electric propulsion systems.
Which Factors Are Boosting Growth In The Small Boats Market?
The accelerating expansion of fishing pursuits is predicted to boost the progression of the small boat industry. Fishing pursuits depict the action of trapping fish or various aquatic species for culinary, recreation, or business reasons. Small boats are perfect for fishing in shallow water and usually cost less and more effortless to manage and retain than massive boats. For example, in June 2024, as per the European Fishmeal and Fish Oil Producers, a non-governmental organization based in Denmark, the fisheries and aquaculture domain is projected to witness constant capture fishery landings, with 90.6 million tons anticipated, a rise from 89.6 million tons in 2023. Aquaculture is also expected to scale up appreciably. Consequently, the accelerating expansion of fishing pursuits is steering the progression of the small boat industry.
What Are The Main Segments Of The Global Small Boats Market?
The small boats market covered in this report is segmented –
1) By Product Type: Powered Boat, Sail Boat, Personal Watercraft, Other Products
2) By Material: Fiberglass, Metal, Wood, Inflatable, Other Materials
3) By Application: Pleasure, Fishing, Defense, Other Applications
Subsegments:
1) By Powered Boat: Motorboat, Speedboat, Fishing Boat
2) By Sail Boat: Monohull Sailboat, Catamaran Sailboat
3) By Personal Watercraft: Jet Ski, Sea-Doo
4) By Other Products: Inflatable Boat, Canoe Or Kayak, Rowing Boat
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What Emerging Trends Are Influencing The Growth Of The Small Boats Market?
The adoption of technological innovations is a primary trend on the rise in the small boat marketplace. Firms in this sector are opting for modern technologies, such as the Internet of Things (IoT), to maintain their market standing. To exemplify, Radian IoT Inc., an American big data corporation, initiated the Radian M2 tool and the SaaS platform, both equipped with IoT tech, for remote boat surveillance in August 2022. This device utilizes IoT to forward the data to either a smartphone or a cloud platform, thus assisting boat owners and operators in remotely overseeing their boats and making knowledgeable choices pertaining to navigation, upkeep, and various other facets of boat functioning to augment safety, effectiveness, and functioning. In addition, the SaaS platform gives users the capability to access this information instantly and review historical data and analytics.
Who Are the Key Players in the Small Boats Market?
Major companies operating in the small boats market include:
• AB Volvo Penta
• Polaris Industries Inc
• Bombardier Recreational Products Inc
• Brunswick Corporation
• Beneteau Group SA
• Malibu Boats Inc.
• Ferretti Group S.p.A.
• Sea Ray Boats Inc.
• MasterCraft Boat Company LLC
• Azimut Benetti S.p.A.
• Marine Products Corporation
• Boston Whaler Inc.
• Sunseeker International Holdings Limited
• S2 Yachts Inc.
• Formula Boats Inc.
• Pursuit Boats LLC
• Grady-White Boats Inc.
• Cobalt Boats LLC
• Everglades Boats LLC
• Seabring Marine Industries Inc.
• Sea Fox Boat Company
• Four Winns Boats LLC
• Stingray Boats Inc.
• Bavaria Yachtbau GmbH
• Correct Craft Inc.
• Crestliner Marine Holdings Inc.
• WeLLCraft Marine Inc.
• Carver Yachts LLC
What Is The Most Dominant Region In The Small Boats Market?
Asia-Pacific was the largest region in the small boats market in 2024. The regions covered in the small boats market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
