The Future of Recreational Fiberglass Boat Market in the forecast period (2019-2024) as predicted by Stratview Research

The report on Recreational Fiberglass Boat Market published by Stratview Research focusses on current trend insights and also predicts about the market condition and its future in the forecast period of 2019 - 2024

Click here to get a Free Sample of the report (additional insights inside): https://www.stratviewresearch.com/Request-Sample/480/recreational-fiberglass-boat-market.html

This strategic assessment report on the Recreation Fiberglass Boat Market is based on the rigorous study of more than 50 boat manufacturers located worldwide. The report identifies the current as well as estimates the future penetration of fiberglass boats in various recreational boat types in order to understand the current and future potential of recreational fiberglass boat in the boating industry. The report provides a complete market assessment for the trend period of 2013 to 2018 and the forecast period of 2019 to 2024. It also provides a panoramic view of competitive landscapes. The report is constructed with the purpose to list down all the crucial market insights for the market participants for making the effective decision making.

Get a description of the report here:
https://www.stratviewresearch.com/480/recreational-fiberglass-boat-market.html

Boat Type Segment

The global recreational fiberglass boat market is segmented based on boat type as outboard boats, inboard/sterndrive boats, PWC, and others. In terms of units, the outboard boat segment 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 over the same period. PWC is likely to be the fastest-growing segment during the forecast period, driven by the USA and Canada.

Application Type Segment

Based on the application type, the recreational fiberglass boat market is segmented as fishing, watersports, sailing, and others. The fishing boat segment is likely is expected to remain the largest segment of the global recreational fiberglass boat 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 by the excellent PWC’s growth.

Region Wise Segment

Based on the regions, North America is expected to remain the largest recreational fiberglass boat market during the forecast period with the USA being the growth engine. The USA is not only the largest market in North America but also the largest market in the world. 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. It is estimated that these above-mentioned economies will continue to drive the region’s demand for recreational fiberglass boats in the coming five years.

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. Out of these economies, China is likely to witness the highest growth over the next five years.

Check the Table of Contents to browse through the report better: https://www.stratviewresearch.com/toc/480/recreational-fiberglass-boat-market.html

Highlights of the Report:

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 the advantages of fiberglass boats over aluminum boats including corrosion resistance, lightweight, and long life.

The USA and Canada have been the pioneer markets for recreational boats for many decades. In 2018, roughly 49 million people were fishing participants in the USA, accounting for approximately 16.5% of the total population of the country. Fishing is the most popular boating activity and 2nd most popular outdoor activity in the USA.
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 of recreational boats in the USA yet not reached its peak sales (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 sales of 2008.

The next five years for the recreational fiberglass boats seem vigorous with attractive growth opportunities across the world. It is anticipated that 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, an increasing number of fishing participants, an increasing number of outboard motorboat sales, increasing HNWI population, and affordability of recreational fiberglass boats are major growth drivers of the recreational fiberglass boat market.

Another factor drawing a consequential interest in the market is an increasing number of merger & acquisition activities in the past couple of years, leading to a greater market concentration. Major boat manufacturers own a large number of brands and have keenly been acquiring other brands in order to gain a larger chunk of the market. For instance, Malibu acquired Cobalt and Pursuit Boats in 2017 and 2018, respectively. Similarly, in 2017, acquisition of Nauticstar, LLC by Mastercraft.

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
Based on the research, a proper report is crafted with the following key features:
• 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

Know more about us and our reports:

Stratview Research is known to offer its insightful reports and custom researches in some of important industry sectors such as aerospace & Defense, Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. Whether it is collection of data or analysis of the trends, the expert team makes sure to put in its best efforts to come up with the best results for the interested clients.

For inquiries, Contact:
Ritesh Gandecha
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176

400 Renaissance Center, Suite 2600, Detroit, Michigan, MI 48243 United States of America

About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.

This release was published on openPR.