Aluminum Fishing Boat Market is Likely to Reach US$ 1,741.4 million in 2024

Launching announcement of a new research report on Aluminum Fishing Boat Market which is projected to reach US$ 1,741.4 million by 2024 - forecasted by Stratview Research. The study provides an in-depth analysis by Boat Type (Deep-V Boat, Bass Boat, Multi-Species Boat, and Others), by Size Type (16 Feet), by Engine Type (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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Aluminum Fishing Boat Market: Highlights
Boating is one of the major outdoor participation activities, especially in the USA, alone accounting for more than 35% of the USA's total outdoor participation activities. Also, there is a growth in outdoor participation rate in the USA with boating being the most preferred activity among all. Freshwater participants are more than thrice the saltwater fishing participants. There are different types of boats designed for fishing activities in saltwater and freshwater. Aluminum fishing boats are preferably used for freshwater fishing, whereas fiberglass boats are generally used for saltwater fishing.
Historically, there has been a wide variety of traditional materials such as steel, wood and concrete, used for the construction of hulls of fishing boats. However, all these have serious shortcomings. For instance, steel hulls are heavy and subject to rust, wooden hulls are prone to frequent leaks and rotting and are also heavy to an extent, and concrete hulls are very heavy and hard to handle. Over the past few decades, aluminum and fiberglass hulls came into picture and have started being widely used in fishing boats.

The global aluminum fishing boat market is projected to depict a healthy growth over the next five years to reach an estimated value of US$ 1,741.4 million in 2024. Aluminum is the most widely used material to manufacture the hull in fishing boats. Increasing new boat sales, increasing outdoor activities participants coupled with increasing number of fishing participants, and lower cost of aluminum boats than fiberglass boats are some of the key factors fueling the demand for aluminum fishing boats across regions, especially in North America.

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The global aluminum fishing boat market is segmented based on boat type as deep-v boat, bass boat, multi-species boat and others. Deep-V boat is expected to remain the growth engine of the market during the forecast period. Extra-wide bottom making anglers more comfortable, smoother riding experience, and excellent stability on bigger waves are the factors spearheading the demand for deep-V boats in the market.

Based on the regions, North America is expected to remain the largest market for aluminum fishing boats during the forecast period with the USA being the growth engine. Aluminum fishing boats are majorly sold in the Northern USA region. Europe also holds a considerable share in the market with Scandinavia and Germany being the key demand generators in the region.

The supply chain of this market comprises raw material suppliers, aluminum fishing boat manufacturers, distributors, dealers, and end-users. Some of the key aluminum fishing boat manufacturers are Brunswick Corporation, White River Marine Group, Bombardier Recreational Products Inc. Correct Craft, Smoker Craft Inc., and Yamaha Motor Company Ltd. Development of high-performance and valuable aluminum fishing boats, expansion of distribution network in the untapped markets, regional expansion, and formation of mergers & acquisitions are the key strategies adopted by the key players to gain a competitive edge in the market.

Report Features
The report provides diverse market intelligence with maximum business value. It gives a condemnatory understanding of the market dynamics and enables strategic decision making for the existing market players as well as those willing to enter the market. The key features include the
->industry life cycle and the supply chain analysis of the market structure.
->SWOT analysis, Porter's five forces analysis and Growth Drivers and constraints.
->Market trend and the forecast analysis.
->Forecast of the market segment trend.
->Competitive landscape and dynamics of Market share, product portfolio, product launches, etc.
->Emerging trends of attractive market segments and associated growth opportunities
->Strategic growth opportunities for the existing and new players.

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This release was published on openPR.