Global Small Boats Market Report and Forecast 2024-2032

Global Small Boats Market Outlook

The global small boats market reached a value of more than USD 31.23 billion in 2023. The industry is further expected to grow at a CAGR of about 10.8% in the forecast period of 2024-2032 to reach a value of over USD 78.91 billion by 2032.

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Europe to be a Significant Regional Market for Small Boats

Due to the robust growth of the marine infrastructure in Europe, the region is anticipated to be one of the leading regions for small boat market during the forecast period. The growing popularity of recreational fishing is expected to help boost the regional market growth. The proliferation of the travel and tourism industry in European countries has led to higher production and distribution of motorboats, water sports equipment and services. Further, the supportive government policies are positively influencing the demand for recreational water activities across the region, thereby boosting the market growth. In addition, the public authorities are launching various projects to promote recreational boating and spread awareness related to water sports activities.

Meanwhile, the North America market is expected to be driven by the United States and Canadian governments' increased spending on small boats for defence and maritime surveillance operations. The market in the Asia Pacific, on the other hand, is expected to grow rapidly due to the rapidly developing marine tourist industry in the region.

Small Boats: Market Segmentation

Small boats are defined as vessels that are used as a mode of transportation and for recreational purposes. The boats are different from ships in terms of various factors such as size, construction and design, operational areas, cargo capacities, and navigation technology, among others. In terms of operational areas, boats are operable in smaller or restricted water areas, including ferrying and towing vessels, sail vessels, paddle vessels, and others.

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By product type, the market is divided into:

• Powered Boat
• Sail Boat
• Personal Watercraft
• Others

The significant applications in the market are:

• Pleasure
• Fishing
• Defence
• Others

The various materials in the market are:

• Fibreglass
• Metal
• Wood
• Inflatable
• Others

The regional markets for the small boats can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Healthy Growth in Fishing Activities and Pleasure Riding Augmenting the Market Growth

Within countries with long coasts, fishing and aquaculture are essential primary sector activities. Small boats are necessary pieces of equipment for fishing villages to maintain their livelihoods. Fishing activities have accelerated in recent years as demand for fish-derived products, such as fish oil, has risen significantly around the world. Therefore, over the next decade, the expansion of fishing and fisheries is expected to hasten the adoption of small-size boats among fish farmers and fishing companies.

Small boating is expected to become even more popular as autonomous maritime technology advances, consequently aiding the market growth. The existence of a large number of producers in this well-integrated and fragmented industry assures a consistent supply of small boats to meet the global demand. The expansion of the market for boat manufacturers has been aided by the increase in online boat sales. Online boat sales also reduce dealership costs and make the bulk of these boats more affordable. All these factors are expected to result in an increase in demand for small boats, thereby boosting the market growth.

Key Industry Players in the Global Small Boats Market

The report gives a detailed analysis of the following key players in the global small boats market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• 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

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

Small Boats Market Report Snapshots

Small Boats Market Size

Small Boats Market Growth

Small Boats Market Regional Analysis

Small Boats Companies