Boat Trailers Market will reach a value of US$ 1,590 million by 2033 at a CAGR of 4.5%

The Boat trailers market projected valuation for 2023 is expected to reach approximately US$ 1,023.9 million. Over the following decade, from 2023 to 2033, it is anticipated that the market will experience a gradual growth trajectory with a compound annual growth rate (CAGR) of 4.5%. This growth trend is forecasted to propel the market to reach a valuation of US$ 1,590 million by 2033.

Boat trailers have a number of unique selling points (USPs), including customizing choices, a variety of load capacities, and separate low-speed and high-speed trailers. Increasing marine tourism and expanding boat fleets are two major factors propelling the boat trailer market's rise.

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The market for boat trailers is expanding quickly due to the growth of marine tourism and recreational water activities. Rising boat trailer sales are also a result of an increase in maritime tourism activities including boating, yachting, kiteboarding, water skiing, and so forth.

Additionally, tourism is growing in countries having access to rivers. As a result, both emerging and developed nations are seeing an increase in demand for boats and other water-related equipment for recreational purposes.

Increasing Boat Sales for Recreational Activities

The boat trailers market growth is directly correlated with increasing fleet of boat and new sales of boats. With the increase in the growth of marine tourism and water activities, the demand for new boats is expected to rise, which in turn, fuels the sale of boat trailers.

The main advantage offered by the boat trailer is to provide the flexibility for transport boats to various places such as inlets, rivers, lakes, bays, & the sea. There are two types of boat trailers, bunk and roller type trailers, which are used by end users. With the increase in boat parc, the demand for boat trailers also increased as boat trailers provide safety to boats and increases the life of a boat.

Boat trailers also prevent salt water boats from rust formation due to coatings and change of materials. Such features have led to the growth of the global boat trailer market.

Moreover, increasing average life of the boat and growing maintenance and services of boats, increases the sales of boat trailers for old boats. In 2017, more than 10 million boats were registered in the U.S. and this number is estimated to grow with ~ 1% growth rate in the nearby future. With the increase in the U.S. boat fleet, the sales of boat trailers also increases as the U.S. holds ~43% share in the global boat trailer market.

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Market Attractiveness of the South Asia-East Asia-ASEAN Cluster Surging

In the global boat trailers market, South Asia and East Asia are estimated to grow with high growth rate over the forecast period due to the increasing number of marine tourists and also, increases the sales of boats and boat parc across regions. In East Asia, China is one of the prominent countries and holds a significant share in the market due to the presence of several manufacturers in the country.

China is expected to drive the growth of the East Asia boat trailer market. In South Asia, India and ASEAN countries are estimated to boost the growth of the market due to the increasing disposable income of the middle class population. The North America market is projected to be a prominent market in the global boat trailers market, owing to the high demand and use of boat trailers for personal and commercial applications.

Moreover, Latin America and Middle East & Africa markets are also estimated to grow with healthy CAGR throughout the forecast period. We have also considered the Caribbean region in Latin America. All prominent macroeconomic and forecast factors are included while calculating the boat trailers market size.

Global Boat Trailers Market by Category

By Product Type:

Bunk Trailers
Roller Trailers
Hybrid Trailers

By Material Type:

Aluminium
Single Axel Type
Triple Axel Type
Tandem Type
Galvanized Steel
Single Axel Type
Triple Axel Type
Tandem Type

By Load Capacity:

Up to 1,500 kg
1,500 kg- 3,000 kg
3,000 kg- 4,500 kg
More than 4,500 kg

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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This release was published on openPR.