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Global Small Boats Market to Reach USD 46.6 billion by 2027, Aided by the Rapid Growth in Fishing Activities

According to a new report by EMR titled, ‘Global Small Boats Market Report and Forecast 2022-2027’, the global small boats market reached a value of more than USD 25.3 billion in 2021. The industry is further expected to grow at a CAGR of about 11.11% in the forecast period of 2022-2027 to reach a value of over USD 46.6 billion by 2027.

The rise of the small boat industry is being fuelled by the rising consumer spending on recreational boating activities as a result of rising disposable income. The increasing popularity of outdoor activities and adult engagement in recreational boating and water-based sports is expected to boost market revenue. The demand will be fuelled by sustained growth in fishing activities and increased investment in the rental boat sector. Companies like Yamaha and Mercury Marine are expanding the industry by introducing economical and powerful diesel-based engines. During the forecast period, the global small boat industry is likely to benefit from increased technical advancements, rising consumer interest in sailing, fishing, and other water sports activities, and expanding tourism industry. The increased spending on small boats for defence and maritime surveillance operations is expected to augment the market growth. Along with this, increasing international trade by exporting products in developing countries is also propelling the market growth.

Companies are collaborating to design and build small boats with unique designs and engineering that may be used for a number of applications. Moreover, such offers enable organisations to diversify their portfolios and build a strong presence in the global marketplace by broadening their commercial perspectives. For example, Brunswick Corporation's (NYSE: BC) Mercury Marine signed a deal with Frydenb to become the latter's preferred engine maker for its boat brands Nordkapp and Sting in worldwide markets in June 2020. Since Frydenb is an industry expert, the alliance will help Mercury extend its influence in the marine industry.

Market Analysis by Product Type, Application, Materials, and Regions:

  • Based on product type, the market is categorised into powered boat, sail boat, and personal watercraft, among others.
  • The significant applications of the market are pleasure, fishing, and defence, among others.
  • The various materials used in the market are fiberglass, metal, wood, and inflatable, among others.
  • The regional markets for small boats include North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa.

Key Findings of the Report:

  • The existence of a large number of producers in this well-integrated and fragmented industry assures a consistent supply of small boats to meet global demand.
  • The expansion of the market for boat manufacturers has been aided by the increase in online boat sales.
  • Supportive government policies are influencing the market demand for recreational water activities globally.
  • Public authorities are launching various projects to promote recreational boating and spread awareness related to water sports activities, thereby boosting the small boats market.

Key Offerings of the report:

  • The EMR report gives an overview of the global small boats market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for product type, application, materials, and major regions of small boats.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global small boats industry are Beneteau SA, Marine Products Corporation, Brunswick Corporation, Yamaha Motor Co., Ltd., MasterCraft Boat Company, Inc., Sunseeker International, Malibu Inc., Ferretti S.p.A, Crestliner Inc., and Bavaria Yachtbau GmbH, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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