Fishing Boats Market

Fishing Boats Forecast and CAGR

According to the study, the Fishing Boats market is projected to exhibit marginal growth between 4% and 5% during the assessment period of 2021 to 2031. There are various types of boats built for freshwater and saltwater fishing. Freshwater fishing is best done with aluminum boats, whereas saltwater fishing is usually done with fiberglass boats.

Traditionally, a variety of conventional materials like wood and steel have been used to make the fishing boats hulls. All of these, however, have significant drawbacks. Fiberglass and aluminum hulls have gained significance in recent decades and have begun to be commonly deployed in fishing boats.

The increasing application of these materials is making the boats sturdy and reliable which is expected to spur the sale throughout the forecast period.

What is Driving Demand for Fishing Boats?

A rise in global demand for fishing, as well as increased awareness of the health advantages of seafood like salmon and tuna is expected to propel the demand of these boats. Rise in the adoption of fishing as a recreational activity has provided an impetus towards the growth of the industry.

Increasing demand for seafood and the rise in the outdoor recreational activities such as boating and fishing is anticipated to boost the demand. Introduction of new and enhanced fishing boats made from sustainable material provide durability, longer shelf life and also come equipped with advanced features.

These factors are projected to bolster the growth of the fishing boat industry throughout the forecast period.

What are the Factors Influencing the Sale of Deep-V Boat?

Over the projected period, the Deep-V boat is expected to be the dominant sector of the market. Deep-V boats have high-tech amenities including, sun protection tops, Bluetooth-enabled stereos, and hydraulic tilt steering. The demand for Deep-V boats in the market is being driven by characteristics such as an extra-wide bottom that provides a smooth and comfortable riding experience, and superior stability on larger waves.

They also have deep and spacious cockpits for safety in turbulent waters. Owing to these features, the Deep-V boat is anticipated to witness a healthy growth rate throughout the forecast period.

North America Fishing Boats Market Outlook

North America is anticipated to exhibit significant growth during the forecast period. The market for fishing boats in North America is dominated by compelling boat building technology improvements, growing disposable income across the United States and Canada, improved boat engine efficiency, major expansion and influence of tourism and enlarged boat size.

Recreational fishing is in high demand due to the considerations outlined above. This demand is expected to support the market until 2031.

Europe Demand Outlook for Fishing Boats

The Europe is a prominent market for fishing boats as fishing is a key activity in Europe either as a recreational or as a commercial. The recreational fishing is prominent in Europe as people use to carry out fishing during their vacation. Germany, Italy, United Kingdom and France, all have substantial fishing boat market.

The rise in demand for sea food and the rapid development in the fishing industry is expected to boost the demand in this region. Furthermore, the rapid rise of coastal tourism is expected to provide significant contribution to the development of the European market.

Who are the Key Manufacturers and Suppliers of Fishing Boats?

Some of the leading manufacturers and suppliers of Fishing Boats include

• Brunswick Corporation
• BRP Inc.
• Yamaha Motor Company Ltd.
• Smoker Craft Inc.
• Correct Craft
• Telwater
• White River Marine Group.

Many leading manufacturers and suppliers are focusing on expanding their business through collaborations and acquisitions. Manufacturers are investing in product development in order to bolster the demand and improve sales.

Key Segments

By Product Type

• Deep-V boat
• Multi species boat
• Bass Boat
• Others

By Size

• <14 Feet
• 14-16 Feet
• >16 Feet

By Engine Type

• <200 HP
• 200-300 HP
• >300 HP

By Region

• North America (U.S., Canada)
• Latin America (Brazil, Mexico)
• Europe (Germany, Italy, France, U.K., Spain, BENELUX, Russia, Nordics)
• East Asia (China, Japan, South Korea)
• South Asia and Pacific (India, ASEAN Countries, Oceania)
• Middle East and Africa (GCC Countries, Turkey, Northern Africa, South Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Fishing Boats Market Report Highlights:

• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint

NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.

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