The global small boats market size reached US$ 28 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 52.3 Billion by 2028, exhibiting a growth rate (CAGR) of 10.92% during 2023-2028. The growing number of recreational activities for maintaining health and well-being, rising adoption of eco-friendly modes of transportation, and increasing innovations in hull design, propulsion systems, navigation equipment, and onboard amenities are some of the major factors propelling the market.
|Small Boats Market Size in 2022
||US$ 28 Billion
|Small Boats Market Forecast in 2028
||US$ 52.3 Billion
|Small Boats Market Growth Rate (2023-2028)
A small boat is a watercraft that is relatively small and designed for use in inland waters, coastal areas, or nearshore environments. It comprises dinghies, rowboats, Jon boats, skiffs, kayaks, canoes, and inflatable boats. It is characterized by compact size, lower displacement, and limited carrying capacity compared to larger vessels, such as yachts or ships. It can present an alternative mode of transportation for short distances or commuting between waterfront properties. It allows fishermen to access shallow areas and navigate through narrow channels or fishing grounds.
At present, the increasing demand for small boats, as they are sustainable and easy to maintain, is impelling the growth of the market. Besides this, the rising traction of fishing as a recreational activity, including both freshwater and saltwater angling, is contributing to the growth of the market. In addition, the growing availability of small boats with fishing rod holders, live wells, and ample storage to cater to the needs of anglers is offering a favorable market outlook. Apart from this, the increasing affluence enabling more people to indulge in boating activities is supporting the growth of the market. Additionally, rising innovations in hull design, propulsion systems, navigation equipment, and onboard amenities are bolstering the growth of the market. Moreover, the increasing availability of small boats integrated with smart technologies is strengthening the growth of the market.
Small Boats Market Trends/Drivers:
Rising number of recreational activities
At present, there is an increase in the number of recreational activities that maintain overall health and well-being. Numerous recreational activities, such as swimming, hiking, cycling, and team sports provide cardiovascular workouts, help in building strength and endurance, and contribute to weight management. They are effective in reducing stress, improving mental health, and promoting relaxation. Apart from this, kayaking and boating are gaining traction among individuals. They help enhance mood, boost self-esteem, and provide a sense of accomplishment and fulfillment. Furthermore, as boating helps to appreciate the beauty of the natural environment, experience serenity, and cultivate an environmental consciousness, the demand for small boats is increasing around the world.
Increasing adoption of eco-friendly modes of transportation
The increasing awareness about environmental issues, such as climate change, air pollution, and depletion and degradation of natural resources, is driving the need for more sustainable transportation options. Eco-friendly modes of transportation, such as small boats, produce fewer greenhouse gas emissions, reduce air pollution, and generate a lower environmental impact compared to traditional modes of transportation, such as cars with internal combustion engines. Moreover, small boats can be designed with electric or hybrid propulsion systems, which significantly reduce or eliminate emissions compared to traditional gasoline-powered engines. Besides this, they possess lower energy requirements compared to larger vessels and contribute to a cleaner and more sustainable environment.
Rising availability of charter and rental services
There is an increase in the availability of charter and rental services as they provide a convenient and flexible solution, allowing people to enjoy boating on their own terms. Apart from this, renting a boat for a specific occasion or vacation eliminates the need for long-term maintenance, storage, and other ownership-related concerns. They provide an opportunity for those who do not own boats to experience and enjoy boating activities. They cater to both locals and tourists who want to explore the waterways without the hassle of boat ownership. They are operated by professionals who are knowledgeable about boating regulations, safety protocols, and local waterways. This expertise ensures a safe and enjoyable experience for customers who may not have extensive boating knowledge or experience.
Small Boats Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global small boats market report, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on product type and application.
Breakup by Product Type:
- Powered Boat
- Personal Watercraft
Powered boat dominates the market
The report has provided a detailed breakup and analysis of the market based on the product type. This includes powered boat, sailboats, personal watercraft, and others. According to the report, powered boat represented the largest segment. A powerboat, also known as a motorboat or motor-powered vessel, is a type of boat that is propelled primarily by an onboard engine or motor. It relies on wind power and uses engines to generate thrust and propel themselves through the water. It comes in various sizes and configurations, ranging from small recreational boats to large high-performance vessels. It is designed for a wide range of purposes, including recreational boating, fishing, watersports, transportation, and commercial activities.
A sailboat, also known as a sailing vessel or sail-powered boat, is a type of boat that uses the wind as its primary source of propulsion. It is designed to take advantage of wind power and can sail in various directions, including upwind (against the wind), by utilizing the principle of aerodynamics. It offers a unique sailing experience and is favored by recreational sailors, cruisers, racers, and adventurers.
A personal watercraft (PWC), also known as a jet ski, is a small recreational watercraft that is designed to be ridden by one or two people.
Breakup by Application:
Fishing holds the largest share of the market
A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes pleasure, fishing, defense, and others. According to the report, fishing accounted for the largest market share. Small boats are widely used for fishing due to their versatility and ability to access various fishing locations. They can navigate shallow waters and reach areas where larger boats cannot go and are used for freshwater fishing in lakes, ponds, and rivers. They can also be used for nearshore fishing, where anglers venture out a short distance from the coast to target species like mackerel, snapper, grouper, or striped bass.
Small boats are commonly used for pleasure and recreational activities. They provide individuals and families with opportunities to enjoy the water, relax, and engage in various enjoyable pursuits. Small sailboats, motorboats, or pontoon boats are ideal for leisurely cruises and exploring waterways. They also serve as a platform for various water sports and activities and can be used for racing or participating in regattas, providing thrilling experiences for enthusiasts.
Small boats play a crucial role in defense and military operations, particularly in coastal areas and littoral environments. They provide the capability to approach and board ships quickly, conduct searches, and apprehend individuals engaged in smuggling, piracy, or other unlawful actions. They are frequently utilized in special operations missions, such as amphibious assaults, reconnaissance, and infiltration/exfiltration of personnel.
Breakup by Region:
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
Europe exhibits a clear dominance, accounting for the largest market share
The report has also provided a comprehensive analysis of all the major regional markets, which include 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.
Europe held the biggest market share due to the rising number of individuals investing in small boats for outdoor recreation and leisure activities. Besides this, the increasing emphasis on wellness and outdoor pursuits is propelling the growth of the market.
Another contributing aspect is the use of small boats to explore nearby lakes, rivers, and coastal areas and allow people to have mini-adventures and enjoy their local surroundings.
North America is estimated to expand further in this domain due to increasing traveling activities and rising demand for recreational options among tourists. Besides this, the increasing popularity of various watersports is bolstering the growth of the market in the region.
Key market players are investing in research activities to introduce innovative features and technologies in their small boat offerings and make advancements in hull designs, propulsion systems, materials, safety features, and onboard amenities. They are also aiming to attract customers seeking enhanced performance, comfort, and efficiency. Top companies are expanding their product range to cater to a broader customer base and diverse market segments by introducing new models with different sizes, configurations, and price points to meet various boating preferences and budgets. They are also incorporating sustainability measures in their business operations, which include using eco-friendly materials, improving fuel efficiency, reducing emissions, and promoting responsible boating practices.
The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
- Brunswick Corporation
- Grady-White Boats Inc
- Groupe Beneteau
- Malibu Boats Inc.
- Marine Products Corporation
- Sunseeker International
- Yamaha Motor Co Ltd.
Small Boats Market Report Scope:
|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.
||10% Free Customization
|Report Price and Purchase Option
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|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the global small boats market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global small boats market?
- What is the impact of each driver, restraint, and opportunity on the global small boats market?
- What are the key regional markets?
- Which countries represent the most attractive small boats market?
- What is the breakup of the market based on the product type?
- Which is the most attractive product type in the small boat market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the small boat market?
- What is the competitive structure of the global small boats market?
- Who are the key players/companies in the global small boats market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the small boats market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global small boats market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the small boat industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.