Overview and Scope
The single deck boat market consists of sales of small motorboats, pontoon boats, skiffs, and dinghies. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Sizing and Forecast
The single deck boat market size has grown rapidly in recent years. It will grow from $2.31 billion in 2023 to $2.61 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to growth in disposable income, the popularity of recreational boating, improvements in boat design and manufacturing, the expansion of coastal tourism, and an increase in water sports activities.
The single deck boat market size is expected to see rapid growth in the next few years. It will grow to $4.29 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to increasing demand for eco-friendly boats, technological advancements in boat manufacturing, growing popularity of electric and hybrid boats, a rise in marine tourism and adventure boating, an expansion of boat rental and sharing services, and a and a digital transformation in sales and marketing. Major trends in the forecast period include the adoption of electric and hybrid propulsion systems, integration of smart technology and IoT in boats, customization and personalization of boat designs, growth of the boat rental and sharing economy, and increased focus on sustainability and eco-friendliness.
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Segmentation & Regional Insights
The single deck boat market covered in this report is segmented –
1) By Power Source: Internal Combustion Engine (ICE), Electric
2) By Size: Small, Medium, Large
3) By Application: Wakeboard, Fishing, Wakesurf, Other Applications
Asia-Pacific was the largest region in the single deck boat market in 2023. The regions covered in the single deck boat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growth in recreational boating and water sports is expected to propel the growth of the single deck boat market going forward. Recreational boating and water sports encompass a variety of leisure activities conducted on water, including boating, sailing, fishing, kayaking, jet skiing, and other water-based sports and pastimes for enjoyment and relaxation. The rising adoption of recreational boating and water sports is driven by increased disposable incomes and a growing interest in outdoor and adventure activities. Single-deck boats are favored in recreational boating and water sports for their straightforward handling, spacious interiors, and suitability for a variety of activities such as fishing, cruising, and leisurely outings on the water. For instance, in May 2023, according to the National Marine Manufacturers Association (NMMA), a US-based trade organization, recreational boating experienced a significant economic surge, with annual economic activity rising by 36% from $170 billion in 2018 to $230 billion by 2023. In addition, 260,000 new boats were sold in 2022, along with over one million pre-owned boats, marking an increase compared to the previous year. Therefore, the growth in recreational boating and water sports is driving the growth of the single deck boat market.
Key Industry Players
Major companies operating in the single deck boat market are Yamaha Motor Corporation, Sea Ray Boats Inc, MasterCraft Boat Company LLC, Lund Boat Company LLC, Regal Marine Industries Inc, Crownline Manufacturing Inc., Nautique Boat Company Inc, Boston Whaler Incorporated, Monterey Boats LLC, Glastron Boats, Skeeter Products Inc, Larson Boat Group Inc, TAHOE Boats Inc, Lowe Boats LLC, Chaparral Boats Co, Ranger Boats LLC, Rinker Boat Company LLC, Tracker Marine LLC (Tracker Boats division), Four Winns Corporation, Stingray Boats Corporation, Triton Boats Inc, Bayliner Boats LLC, Hurricane Marine Industries LLC, Nitro Boats LLC, Phoenix Bass Boats Inc, Stratos Boats LLC, Bullet Boats Incorporated, Crestliner Boats Inc.
The single deck boat market report table of contents includes:
1. Executive Summary
2. Single Deck Boat Market Characteristics
3. Single Deck Boat Market Trends And Strategies
4. Single Deck Boat Market – Macro Economic Scenario
5. Global Single Deck Boat Market Size and Growth
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32. Global Single Deck Boat Market Competitive Benchmarking
33. Global Single Deck Boat Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Single Deck Boat Market
35. Single Deck Boat Market Future Outlook and Potential Analysis
36. Appendix
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