The Small Boats Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Small Boats Global Market Report 2024, 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.
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.
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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
Major companies operating in the small boat market are developing innovative products with advanced technologies, such as electric propulsion systems, to provide reliable services to customers. Electric propulsion systems refers to a class of space propulsion that uses electrical power to accelerate a propellant, offering several advantages over traditional chemical propulsion systems. For instance, In April 2023, Kaebon, a Munich-based startup, launched the EB Eins, an electric boat designed to be the lightest in the world, weighing only 89 kilograms. The boat is constructed from ultra-light carbon composite materials, allowing it to be easily transported and placed on a car roof. The innovative design, featuring a wave-piercing bow and long waterlines, offers a portable and efficient watercraft option for boating enthusiasts.
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 analysis
5.Small Boats Market Size And Growth
6.Small Boats Segmentation
7. Small Boats Regional And Country Analysis
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27.Small Boats Competitive Landscape And Company Profiles
28.Small Boats Key Mergers And Acquisitions
29.Small Boats Future Outlook and Potential Analysis
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