Overview and Scope
A small boat is a watercraft that is designed to be used on inland or coastal waters and is small enough to be carried or towed by a vehicle. The exact size range can vary depending on the region and the type of boat, but generally, small boats are less than 26 feet (8 meters) in length. It is used for recreation purposes, fishing, duck hunting, sports, and business.
Sizing and Forecast
The small boats market size has grown rapidly in recent years. It will grow from $35.16 billion in 2023 to $39.55 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. The growth in the historic period can be attributed to economic stability and disposable income, tourism and leisure trends, regulatory environment, boating infrastructure, economic stability.
The small boats market size is expected to see rapid growth in the next few years. It will grow to $63.36 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to rising urbanization and population growth, environmental awareness, recreational boating culture, safety regulations, sustainable practices. Major trends in the forecast period include digital transformation and connectivity, technological advancements, government regulations and safety standards, online sales and direct-to-consumer models, electric propulsion systems.
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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the small boats market in 2023. The regions covered in the small boats 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 rapid growth of fishing activities is expected to propel the growth of the small boat market going forward. Fishing activities refer to the act of catching fish or other aquatic animals for food, sport, or commercial purposes. Small boats are ideal for fishing in shallow waters and are often more affordable and easier to operate and maintain than larger vessels. For instance, in 2021, Marine Management Organization, a UK-based non-departmental public body of the Department for Environment, food, and rural affairs, UK ships landed 652 thousand tons of sea fish worth £921 million ($1 billion) as compared to 2020, an increase of 5% and 11% in quantity and value respectively. Therefore, the rapid growth of fishing activities is driving the growth of the small boat market.
Key Industry Players
Major companies operating in the small boats market report are 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., Porter 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
The small boats market report table of contents includes:
1. Executive Summary
2. Small Boats Market Characteristics
3. Small Boats Market Trends And Strategies
4. Small Boats Market – Macro Economic Scenario
5. Global Small Boats Market Size and Growth
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32. Global Small Boats Market Competitive Benchmarking
33. Global Small Boats Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Small Boats Market
35. Small Boats Market Future Outlook and Potential Analysis
36. Appendix
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