US Boat Market Top Key Players - Brunswick group, Chaparral Boats, J/Boats, Feadships, Perini Navi, Bombardier Recreational ProductsInc. (BRP), Ferretti S.p.A.

The global market for Leisure Boats estimated at US$ XX Billion in the year 2021, and projected to reach US$ 45.9 Billion by 2026, growing at a CAGR of 4%.

According to sources and post Covid boom it has been highlighted that Boat sales have boomed during the pandemic due to people’s choice to enjoy outdoor living, spending more time with family together. The companies which are totally dedicated in boat manufacturing also take care of people’s choice and their specific needs that should be available.

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IMPACT OF COVID-19 ON US BOAT MARKET
The Pandemic (Coronavirus) has put a halt on the transportation and human activities that led to decline of production and sales of all products and services. Companies have reported losses in the revenue and some have filed bankruptcy as well due to less demand and inability to handle the resources of the company in a pandemic. Due to halt in travel the people have to pay the maintenance and other charges unnecessary lead the owner to sell the assets.

US BOAT MARKET DYNAMICS
As per NMMA, sale of new cruisers reached a twelve-year high in 2020, up 19.5% compared to 2019, due to sales gains both in sterndrive cruisers and outboard cruisers. Sales of new boats used for watersports rose 12.8% in 2020, surpassing the 2007 sales level for the first time. Increased sales of pontoon boats (up 17.3%), personal watercraft (up 8.3%) and inboard wake sport boats (up 21.4%) were the major contributors to the spike in watersport boat sales in 2020. New fishing boat sales were up 10.3% in 2020, the highest annual sales total since 2007.

US BOAT MARKET SEGMENTATION

On Basis Of Engine Type
• Outboard
• Inboard
• Others

On Basis Of Application
• Fishing Boat
• Watersports
• Sailing
• Personal Watercraft
• Yacht
• Other

On The Basis Of Power
• Engine Powered
• Man Powered
• Sailing

TECHNOLOGICAL TRENDS IN US BOAT MARKET
Rising Carbon emission, decrease in crude oil resources, increase in crude oil price continuously has affected all industries which rally on fossil fuel for the energy generation purpose.

Battery Technology is taking a giant step forward for providing the power source for vehicles, so the Boat Industry is also taking the advantage of those. Electric Boat is not a new concept but now more companies are coming forward to use it so as to reduce pollution and also contribute toward a sustainable future.

Other technologies such as 3-D Printing, Shipbuilding robotics, automation, Artificial intelligence, Simulation, Solar and wind powered ships, alternate fuel are helping the industry to move towards the sustainable manufacturing technique and reducing the overall cost of boat as well so that it may become more affordable to customer and reducing maintenance cost as well.

KEY PLAYERS IN US BOAT MARKET

Brunswick group is one of the largest recreational boat, Marine engine and accessories

manufacturers of the USA. It has net sales of USD 1.3 Billion in the financial year of 2020. It has its own boat brand such as Bayliner, Harris, Protector, Heyday, etc. which produces various boat types such as Motor Boat, Recreational Boats, fiberglass boats, etc.

Chaparral Boats manufacturer of fishing and pleasure boats founded in 1965 by William Bugg Peg. It provides a wide range of family boats.

J/Boats founded in 1977 by Rod Johnstone. The company manufactures specialized Fiberglass sailboats.

Feadships is the dutch manufacturer of custom yachts founded in 1949 providing high quality products to the American Market. The company indulges in extensive R&D for sleek design and environmentally friendly technology.

Perini Navi is an Italian design and construction of luxury sailing and motors yachts manufacturer (aluminium and steel) founded in 1983.

Bombardier Recreational ProductsInc. (BRP) is canadian manufacturer of a vast variety of Boats such as outboard, fish boats.

Ferretti S.p.A. is an Italian company headquartered in Forli which specialises in the design, construction and sale of luxury motor yachts founded in 1968.

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