According to the latest report by IMARC Group, titled “Small Boats Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global small boats market size reached US$ 28 Billion in 2022. Small boats refer to watercraft that are typically less than 30 feet in length, designed for personal or small-scale commercial use. They include various types of vessels, such as dinghies, kayaks, fishing boats, and sailboats. Often powered by outboard engines, sails, or human effort, small boats are utilized for various purposes, ranging from recreation, sport fishing, and transportation to specialized tasks like search and rescue operations. They have become increasingly popular across various sectors, representing an essential part of both leisure activities and professional maritime operations. Their demand is supported by the growing popularity of water-based sports and the continual need for efficient, short-distance maritime transport.
Global Small Boats Market Trends:
The global small boats market is experiencing robust growth, driven by the rising interest in recreational boating and water sports, along with an increase in disposable income. Additionally, the development of lightweight, high-strength materials has allowed manufacturers to produce more efficient and eco-friendly small boats, appealing to environmentally conscious consumers. Along with this, the small commercial fishing industry's expansion is further bolstering the market as small boats are essential for localized fishing activities. Moreover, technological advancements in outboard engine technology have made small boats more efficient and reliable, enhancing their appeal across various sectors. In addition, governments and maritime organizations' increased focus on safety regulations and certifications for small boats also adds to the market's attractiveness, ensuring quality and compliance. Furthermore, trends towards tourism and exploration of coastal areas have increased the usage of small boats, providing additional momentum to the market growth. Looking forward, the market value is projected to reach US$ 52.3 Billion by 2028, expanding at a CAGR of 10.92% during 2023-2028.
- Based on the product type, the market has been segmented into powered boat, sailboat, personal watercraft, and others. Among these, the powered boat represents the largest segment.
- On the basis of the application, the market is segregated into pleasure, fishing, defense, and others. Currently, fishing accounts for the largest market share.
- Region-wise, the market has been segmented into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Presently, Europe holds the largest market share.
- The competitive landscape of the market has also been examined, with some of the key players being Brunswick Corporation, Grady-White Boats Inc, Groupe Beneteau, Malibu Boats Inc., Marine Products Corporation, Sunseeker International and Yamaha Motor Co Ltd.
|Base Year of the Analysis
| Historical Period
|Scope of the Report
Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Product Type
|Product Types Covered
||Powered Boat, Sailboat, Personal Watercraft, Others
||Pleasure, Fishing, Defense, Others
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Brunswick Corporation, Grady-White Boats Inc, Groupe Beneteau, Malibu Boats Inc., Marine Products Corporation, Sunseeker International, Yamaha Motor Co Ltd., etc.
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