Small Boats Market Report by Technology, Industry Share and Size Expansion to 2027 | Fortune Business Insights™
Small Boats Market size isanticipated to rise at a CAGR of 14.8% and reach USD56,199.1 million by the end of 2027.
This growth is accountable to theincreasing number of pleasure riding and fishing activities across water bodiesworldwide.
Fortune Business Insightstitled, “Small boats Market Size, Share & COVID-19Impact Analysis, By Product (Sail Boat, Powered Boat, Personal Watercraft Boat,and Others), By Application Type (Pleasure, Fishing, Defense and others), andRegional Forecast, 2020-2027,” the value of this market was USD18,653.5 million in 2019 and the forecast period is set between 2020and 2027.
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List of the Leading Companies Profiledin 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 followingquestions:
- 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 andRecreation Activities to Add Impetus
The increasing population of high networth individuals (HNWIs) and the rise in offshore activities for recreationalor leisure purposes are the key factors boosting the global small boats marketgrowth. The increasing popularity of connected boats and rise in the number ofwater 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 levelof water pollution and high cost of installation and maintenance may hamper thegrowth of the market in the forecast duration. Nevertheless, the advent ofyacht monitoring solutions is likely to create new growth opportunities for themarket in the coming years.
Segmentation:
Powered Boats Segment Accounted for theHighest Share Owing to the Ease of Availability
Powered boats are the most common typeof boats, thereby helping this segment earn dominance. Powered boats are ofdifferent types such as bay boat, bass boat, cuddy cabin, cruiser, andbowrider, among others. The availability of these types of boats stands as thekey factor helping the powered boat segment earn the largest small boats marketshare in 2019 and continue doing so in the coming years.
Regional Analysis:
Europe to Continue Dominance Owing toIncreasing Popularity of Pleasure Tours
Among all regions, Europe emergeddominant on account of the increasing urbanization and rise in heavy touristattraction especially for water rides. This, coupled with the increasingfishing activities and rise in the number of pleasure activities, will also aidin expansion of the market in the coming years. On the other side, the marketin North America will showcase a significant growth rate on account of thepresence of the majority of defense boats and the heavy investments on upgradedand innovative small boats. In 2019, Europe earned a revenue of USD 8,146.3million on account of the presence of several major market vendors.
New players are penetrating into theAsia Pacific market, thereby helping this region generate substantial revenuefor the overall market in the forecast duration.
Competitive Landscape:
Players Focusing on Strengthening theirPortfolio to Gain Competitive Edge
The competitive landscape of the globalmarket for small boats is highly fragmented on account of the presence of manyplayers. Some of them are focusing on strengthening their portfolio to gain asignificant share in the market. The others are engaging in new productlaunches to gain a competitive edge in the long run.
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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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