According to the report by Expert Market Research (EMR), the global small boats market size is projected to grow at a CAGR of 11.11% between 2024 and 2032. Aided by the diverse factors such as rising recreational activities, technological advancements, and increased spending on leisure pursuits, the market is expected to grow significantly by 2032.
Small boats, typically characterised as watercrafts less than 6 meters in length, are gaining popularity for a variety of applications including fishing, water sports, and leisure cruising. These boats are preferred for their ease of manoeuvrability, lower maintenance costs, and the growing interest in recreational boating activities among people worldwide.
As per the small boats market analysis, the leisure segment, in particular, is witnessing significant growth. As disposable incomes rise and the desire for water-based leisure activities increases, more individuals are investing in small boats for personal use. This trend is especially pronounced in regions with extensive coastlines and inland water bodies, where boating is a popular recreational activity.
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Technological advancements in boat manufacturing are also driving small boats market growth. Innovations such as improved boat design, lightweight materials, and enhanced safety features are making small boats more appealing to consumers. Additionally, the incorporation of eco-friendly technologies, such as electric propulsion systems, is catering to the growing environmental consciousness among consumers.
The fishing industry is another significant contributor to the small boats market size. Small fishing boats are essential for coastal and inshore fisheries, which form a vital part of the livelihood of communities in many regions. The increasing demand for fresh fish and the growing popularity of recreational fishing are further augmenting the market for small boats.
Region-wise, North America holds a prominent share in the global market, attributed to the high popularity of boating as a leisure activity and the presence of major market players in the region. Europe follows closely, with its rich maritime heritage and extensive network of waterways. The Asia-Pacific region is also showing promising growth, driven by rising disposable incomes and the growing interest in recreational and fishing activities. As the small boats market evolves, it is likely to witness increased innovation and a focus on sustainability, catering to the changing preferences of a diverse consumer base.
Small Boats Market Segmentation
The market can be divided based on product type, application, material, and region.
Market Breakup by Product Type
- Powered Boat
- Sail Boat
- Personal Watercraft
- Others
Market Breakup by Application
- Pleasure
- Fishing
- Defence
- Others
Market Breakup by Material
- Fibreglass
- Metal
- Wood
- Inflatable
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Small Boats Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global small boats market. Some of the major players explored in the report by Expert Market Research are as follows:
- 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.
- Bavaria Yachtbau GmbH
- Others
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