Small Boats Market to Touch USD 57.78 Billion by 2028; Growing Interest in Water-based Sports Activities to Accelerate Market Expansion: Fortune Business Insights™

Top Players Covered in the Small Boats Market Research Report Are Crestliner Inc. (United States), Bavaria Yachtbau (Germany), Yamaha Motor Corporation (Shizuoka, Japan), Sunseeker (United Kingdom), Brunswick Corporation (Illinois, United States), Group Beneteau (France), Azimut Benetti (Italy), Ferretti (Italy), Marine Products Corporation (Georgia, United States), Mastercraft Boat Company (Tennessee, United States), Malibu Boats Inc. (Tennessee, United States) and other key market players.

Pune, India, June 08, 2021 (GLOBE NEWSWIRE) -- Global Small Boats Market Size| 2021 Covid-19 Impact On Automotive Industry Global Analysis By Size, Trends, Growth, Share, Business, Key Players, Merger, Statistics, Competitive Landscape, And Regional Forecast To 2026 is latest study published by Fortune Business Insights. The global small boats industry size is projected to reach USD 57.78 billion by 2028, exhibiting a CAGR of 11.0% during the forecast period. The increasing intensity of fishing activities worldwide will be a major growth driver for this market, highlights Fortune Business Insights™ in its report, titled “Small Boats Market, 2021-2028”. As per the report, the value of the market stood at USD 25.09 billion in 2020.

The Small Boats Market report offers an in-depth analysis of the Active Pharmaceutical Ingredient industry and the demand drivers by highlighting information on several aspects of the market. Prudent Markets addresses all these aspects and provides the latest scoop and detailed eye-opening study on all major & emerging business segments. In addition to this, the report sheds light on the industry developments by key players, which are contributing to the expansion of this industry. The development scope, feasibility study, Small Boats Market concentration, and maturity analysis is elaborated in this report.

Information given in the research report pertains to different technological advancements introduced in recent years, which allows for a meticulous analysis of the industry and offers a more comprehensive understanding to the readers.

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List of Key Players Profiled in this Market Report

• Crestliner Inc. (United States)
• Bavaria Yachtbau (Germany)
• Yamaha Motor Corporation (Shizuoka, Japan)
• Sunseeker (United Kingdom)
• Brunswick Corporation (Illinois, United States)
• Group Beneteau (France)
• Azimut Benetti (Italy)
• Ferretti (Italy)
• Marine Products Corporation (Georgia, United States)
• Mastercraft Boat Company (Tennessee, United States)
• Malibu Boats Inc. (Tennessee, United States)

Fishing and aquaculture are critical primary sector activities for nations with large coastlines. Small boats are essential equipment that fishing communities need to use to maintain their livelihoods. With the demand for fish-derived products, such as fish oil, rapidly rising worldwide, fishing activities have gained significant momentum in the past few years. According to the Food and Agriculture Organization (FAO), the total number of fishing vessels across the globe was 4.6 million in 2018, up 2.8% from 2016. Among these, motorized vessels accounted for 63% of the total fleet, standing at 2.9 million. Furthermore, the fishing and aquaculture industry employed 59.5 million people in 2018. Thus, the expansion of fishing and fisheries will speed up the adoption of small-size boats among fish farmers and fishing companies over the next decade.

The outbreak of covid-19 in the global market has made companies uncertain about their future scenario as the prolonged lock-down finds a serious economic slump. The latest survey on COVID-19 Outbreak-Global Small Boats Market is conducted to provide hidden gems performance analysis. Essential growth factors and study of Basis points [BPS] have been discussed in the following report. Research Report explains a detailed overview of market dynamics, segmentation, product portfolio, business plans, and the latest development in the industry.

Segmentation

By product type, the market has been divided into powered boats, sailboats, personal watercraft, and others. The personal watercraft boat segment held a share of 11.3% in the market in 2020, while the sail boat segment held a market share of 6.6% in 2020.

Based on application type, this market has been segmented into pleasure, fishing, defense, and others. On the basis of geography, the market has been segregated into North America, Europe, Asia Pacific, and the Rest of the World.

This report focuses on Active Pharmaceutical Ingredient Global Market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application. Regional analysis is another highly comprehensive part of the research and analysis study of the global market presented in the report. This section sheds light on the sales growth of different regional and country-level markets. For the historical and forecast period to 2026, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.

COVID-19 Impact

The outbreak of the COVID-19 pandemic has positively impacted the small boats market growth, with the market posting a decent growth rate of 4.1% in 2020 and reaching a value of USD 26.89 billion in 2021. The market’s promising performance amid the current crisis can be attributable to the investments made by fishing companies and trawler manufacturers before the pandemic erupted in new boats and vessels. Moreover, these investments have also been directed towards new boating technologies and as the effects of the coronavirus started waning in developed economies, water-based recreational activities were rejuvenated, along with marine tourism. The pent-up demand, therefore, favored this market.

Click here to get the short-term and long-term impact of COVID-19 on this market.

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Salient Features of the Report

This report incorporates an in-depth analysis of the critical factors driving and constraining the market and contains actionable insights into the key market players and their strategies. Further, the report supplies a comprehensive examination of the various market segments, along with an extensive and intensive evaluation of the regional developments in the market.

Driving Factor

Introduction of Luxury Yachts by Boat Makers to Fuel Market Growth

Small boats in the form of yachts are widely popular among sailing enthusiasts, who wish to cruise the seas as well as have a comfortable ride. As a result, many boat manufacturers have been introducing luxury small-size boats to attract consumers. For example, MasterCraft Boat Holdings launched the AV40 luxury boat in 2020, styled in European fashion and featuring a range of amenities, such as joystick piloting, twin fold-down terraces, and large entertainment space. Similarly, boat makers are coming up with innovative boat products to cater to the growing interest in water excursions. In 2020, for instance, Bayliner reimagined its Trophy series and launched the T20CC and T22CC boats, offering entertainment space and fishing amenities. The growing popularity of such novel boat concepts is, thus, widening the scope of this market.

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Regional Insights

Europe to Register Promising CAGR; North America to Display Sterling Growth

Europe is expected to lead the small boats market share during the forecast period owing to the robust maritime infrastructure in the region. Moreover, the booming popularity of leisure fishing activities will further bolster the regional market growth. The region’s market size stood at USD 5.16 billion in 2020.

In North America, the market will be principally driven by the increasing investments by the US and Canadian governments in small boats for defense and maritime surveillance operations. On the other hand, the market in Asia Pacific is anticipated to experience dynamic expansion due to the rapidly developing marine tourism industry in South and Southeast Asia.

Competitive Landscape

Strategic Partnerships to be the Marquee Feature of the Market Competition

One of the most widely adopted strategies in this market by key players is the forging of tactical alliances. The collaborations are aimed at developing and rolling out uniquely designed and engineered small boats that can serve a variety of purposes. Moreover, such offerings are allowing companies to broaden their business horizons through diversified portfolios and gain a strong foothold in the global marketplace.

Industry Development

• June 2020: Brunswick Corporation’s Mercury Marine inked an agreement with Frydenbø to become the latter’s preferred engine maker for its boat brands, Nordkapp and Sting, across international markets. The partnership will help Mercury expand its presence in the marine industry as Frydenbø is a veteran in this industry.

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Some major points from 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, 2017-2028 
  • Key Findings / Summary
  • Market Analysis, Insights and Forecast – By Product Type
    • Powered Boat
    • Sail Boat
    • Personal Watercraft
    • Others
  • Market Analysis, Insights and Forecast – By Application Type
    • Pleasure
    • Fishing
    • Defense
    • Fishing
  • Market Analysis, Insights and Forecast – By Region
    • North America
    • Europe
    • Asia Pacific
    • Rest of the World
• North America Small Boats Market Analysis, Insights and Forecast, 2017-2028
  • Key Findings / Summary
  • Market Analysis – By Product Type
    • Powered Boat
    • Sail Boat
    • Personal Watercraft
    • Others
  • Market Analysis – By Application Type
    • Pleasure
    • Fishing
    • Defense
    • Others
  • Market Analysis – By Country
    • U.S.
    • Canada
    • Mexico
• Europe Small Boats Market Analysis, Insights and Forecast, 2017-2028
  • Key Findings / Summary
  • Market Analysis – By Product Type
    • Powered Boat
    • Sail Boat
    • Personal Watercraft
    • Others
  • Market Analysis – By Application Type
    • Pleasure
    • Fishing
    • Defense
    • Others
  • Market Analysis – By Country
    • U.K.
    • Germany
    • France
    • Rest of Europe
• Asia Pacific Small Boats Industry Analysis, Insights and Forecast, 2017-2028
  • Key Findings / Summary
  • Market Analysis – By Product Type
    • Powered Boat
    • Sail Boat
    • Personal Watercraft
    • Others
  • Market Analysis – By Application Type
    • Pleasure
    • Fishing
    • Defense
    • Others
  • Market Analysis – By Country
    • Japan
    • China
    • India
    • South Korea
    • Rest of Asia Pacific

Continued...

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