12 February 2019:
Small
Boats Market is expected to grow at a CAGR of 7% in the forecast
period owing to the flourishing marine sector, rise in average selling prices
and increasing interest of public in numerous water sports. Small boats are
normally used on inland waterways like lakes, rivers and coastal regions.
Increasing disposable income is propelling the growth of travel and tourism
activities on a global scale, which is driving the small boats market. Small
boats are used in several activities like boat racing, sailing, campaigning,
motorized water sports that has affected small boats market positively in the
recent years and the growth is expected to continue in future as well. Small
boats built with high-quality material and advanced technology can handle a
number of marine applications.
Small boats market is thus expected to rise significantly in
the coming years with substantial revenue generation also. Moreover, developing
countries across the globe are witnessing considerable improvement in economy,
which is resulting in increased expenditure on recreational activities.
Furthermore, the demand for small boats is predicted to increase due to old
trend of the traditional boats and technological enhancements. Additionally,
the small boats offer wide applications from sailing, water sports, fishing,
etc., which strengthens the penetration of small boats market in the forecast
period.
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Nevertheless, small-scale production of small boats by the
SMEs and the traditional manufacturing procedure is hampering the growth of the
market. They also affect the growing product demand and the overall marine
industry in the forecast period. The key players in the industry have great
demand form the consumers. These players are greatly investing in high-quality
technology. Recreational boats and small boats are promising substantial growth
since fishing boats continue to attract the coastal consumers. The market
players are poised to achieve impressive growth as small boats market respond
well to the advantages by using new materials and demand from tourism industry
for fun and recreational activities.
The players in small boats market are expected to witness
intensive competitive advantage owing to successful introduction of new
products. The customers thoroughly check manufacturer quality, availability of
new products and capability to innovate while purchasing. Small boats market is
categorized on the basis of boat type, material, application, and geography. On
the basis of boat type, small boats market is divided into personal watercraft
boat (PWC), powered boat, and sail boat.
In terms of application, small boats market is split into
fishing, defense, pleasure (tourism), and others. Small boats are mostly used
for fishing in the coastal areas, since seafood is their staple food. This is
followed by tourism. Geographically, small boats market is segmented as North
America, South America, Europe, Asia Pacific and Middle East & Africa.
North America followed by Europe are expected to lead small boats market owing
to the rise in recreational activities like fishing & boating and
technological advancements in the region.
The key players of small boats market are Brunswick
Corporation, BPS Direct, Malibu Boats, Inc., Yamaha Motor Corporation, Grand
Crossing Capital LLC, MasterCraft Boat Company, LLC, Porter, Inc, Grady-White
Boats, Inc., Groupe Bénéteau, Marine Products Corporation, Maverick Boat Group,
Inc. S2 Yachts, Inc., Seabring Marine Industries Inc, L.L.C, Correct Craft,
Inc, Stellican Ltd, etc.
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Small Boats Market by
Geographical Regions:-
•
North America
•
Europe
•
Asia Pacific
•
Middle East and Africa
•
South America
Market Leaders
•
Brunswick
•
Groupe Beneteau
•
Yamaha
•
Correct Craft
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