Recreational Fiberglass Boat Market to Reach US$ 9.5 Billion in 2024, Says Stratview Research

DETROIT, April 18, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Recreational Fiberglass Boat Market by Boat Type (Outboard Boat, Inboard/Sterndrive Boat, PWC, and Others), by Application Type (Fishing, Watersports, Sailing, and Others), by Power Type (Engine-Powered and Sail-Propelled), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

This strategic assessment report, from Stratview Research, on the recreational fiberglass boat market is based on the rigorous study of more than 50 boat manufacturers worldwide. The report provides a complete market assessment for the trend period of 2013 to 2018 and forecast period of 2019 to 2024. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Recreational Fiberglass Boat Market: Highlights

Boating is one of the most dynamic industries in the world and is highly exposed to external economic factors, such as disposable income. Recreational boats are the most popular ones among all types of boats, whose hull is preferably manufactured using two distinct materials: fiberglass and aluminum. Fiberglass boats currently dominate the overall recreational boat market and are even subjected to grow at a higher rate in the foreseen future, driven by their over aluminum boats including corrosion resistance, lightweight, and long life. 

The last five years were quite promising with almost recovery of recreational boat sales after the steep decline in 2009 due to economic turmoil; however, the sales in the USA has not yet reached its peak (279,800 boats in 2008 in the USA) but it is anticipated that the year 2019 would be iconic for the industry as the sales of recreational boats in the USA is likely to cross its peak of 2008. 

As per Stratview Research, the global recreational fiberglass boat market is projected to depict a healthy growth over the next five years to reach an estimated value of US$ 9,538.5 million in 2024. Continuous increase in new powerboat sales, increasing number of fishing participants, increasing number of outboard motorboat sales, increasing HNWI population, and affordability of recreational fiberglass boats are some of the major growth drivers of the recreational fiberglass boat market.

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In terms of units, outboard boat is likely to remain the most dominant segment over the next five years, whereas, in terms of value, the inboard/sterndrive boat segment is likely to remain the dominant segment in the market in the same period. PWC is likely to be the fastest-growing segment during the forecast period, driven by the USA and Canada.

Based on the application type, fishing boat is expected to remain the largest segment of the market. Outboard boats are preferably used for fishing use. The watersports segment is likely to be the fastest-growing application type in the market over the next five years, much of this growth is attributed to the excellent growth of PWC.

In terms of region, North America is expected to remain the largest recreational fiberglass boat market during the forecast period with the USA being the growth engine. All the major boat manufacturers have their presence in the region to tap the market potential. High outboard activity, especially fishing, is the major driver for the demand for recreational fiberglass boats in the country.  Canada is a relatively small market but is likely to witness healthy growth in years to come. Europe also holds a considerable share in the market with France, Germany, Spain, and Sweden being the key demand generators in the region. Asia-Pacific currently holds a diminutive share of the global recreational fiberglass boat market but is subjected to grow at the highest rate in the coming five years, propelled by China, Japan, and New Zealand.

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Some of the key recreational fiberglass boat manufacturers are Groupe Beneteau, Brunswick Corporation, White River Marine Group, Bombardier Recreational Product Inc., Malibu Boats, Marine Products Corporation, Mastercraft, Kawasaki, and Yamaha Motor Company Ltd. Development of high-performance and valuable recreational fiberglass boat, setting up or expansion of distribution network in unpenetrated markets, regional expansion, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market. 

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

This report studies the global recreational fiberglass boat market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:

Recreational Fiberglass Boat Market, By Boat Type

• Outboard Boat (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Inboard/Sterndrive Boat (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• PWC (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Recreational Fiberglass Boat Market, By Application Type

• Fishing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Watersports (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Sailing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Recreational Fiberglass Boat Market, By Power Type

• Engine-Powered Boats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Sail-Propelled Boats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Recreational Fiberglass Boat Market, By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: France, Germany, Spain, Sweden, and RoE)
• Asia-Pacific (Country Analysis: Japan, New Zealand, China, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, The Middle East, and Others)

Stratview Research has several high value market reports in the consumer goods industry. Please refer to the following link to browse through our reports:

Click Here for Other Reports from Stratview Research in the Consumer Goods Industry

Other premium report from Stratview Research in the Boat Industry:

Pontoon Boat Market by Application Type (Family-Fun pontoon, Fishing Pontoon, Cruising Pontoon, Watersports Pontoon, and Others), by Tube Type (Two-Tube Pontoon and Three-Tube Pontoon), by End-Use Type (Private and Commercial), by Size Type (<20 Feet, 20-24 Feet, and >24 Feet), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.

Aluminum Fishing Boat Market by Boat Type (Deep-V Boat, Bass Boat, Multi-Species Boat, and Others), by Size Type (<14 Feet, 14-16 Feet, and >16 Feet), by Engine Type (<200 HP, 200-300 HP, and >300 HP), and by Region (North America, Europe, Asia-Pacific, and Rest of the World) Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

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We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.

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SOURCE Stratview Research