Small Boats Market on Track for Strong Growth, Estimated to Grow at 13.5% CAGR Through 2029

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What Is the Expected CAGR for the Small Boats Market Through 2025?
The market for small boats has seen a speedy expansion in the past few years. The market size is projected to increase from $39.02 billion in 2024 to $43.52 billion in 2025, boasting a compound annual growth rate (CAGR) of 11.5%. This growth during the historic period can be credited to factors such as economic stability and disposable income, the trends in tourism and leisure, regulatory environment, and boating infrastructure.

What's the Projected Size of the Global Small Boats Market by 2029?
The market size for small boats is predicted to witness exponential growth in the upcoming years, reaching $72.16 billion in 2029 using a compound annual growth rate (CAGR) of 13.5%. Factors contributing to this growth projection during the forecast period includes an increase in urbanization and population, environmentally conscious attitudes, the culture surrounding recreational boating, safety regulations, and sustainable practices. Noteworthy trends expected within the forecast period encompass digital evolution and increased connectivity, advances in technology, regulatory measures by the government and safety standards, an upswing in online sales and direct-to-consumer strategies, and the use of electric propulsion systems.

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Top Growth Drivers in the Small Boats Industry: What's Accelerating the Market?
The swift expansion of fishing tasks is set to propel the advancement of the small boat market. Fishing chores pertain to the activity of trapping fish and other marine life for purposes such as food, sport, or business. Small boats, typically used in shallow waters, tend to be more affordable and manageable compared to larger ships. For example, according to the European Fishmeal and Fish Oil Producers, a non-governmental organization based in Denmark, it is projected that in June 2024, the fisheries and aquaculture sector will experience relatively stable capture fishery landings, projecting to reach 90.6 million tons, a rise from 89.6 million tons in 2023. There is also an anticipation of substantial aquaculture expansion. Hence, the brisk rise of fishing tasks is triggering the expansion of the small boat market.

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What Trends Will Shape the Small Boats Market Through 2029 and Beyond?
The enhancement of technology is a rising trend within the small boat market. Firms in this sector are incorporating innovations like the Internet of Things (IoT) to maintain their market standing. For example, in August 2022, Radian IoT Inc., a big data company from the US, initiated the Radian M2 device and SaaS platform, both embedded with IoT technology, for distant observation of boats. This device employs IoT to transmit data to a mobile or cloud-based platform, enabling boat owners and operators to remotely oversee their boats and make knowledgeable decisions regarding navigation, upkeep, and other boat operation areas to enhance safety, effectiveness, and performance. Plus, the SaaS platform permits users to view this data instantly and gain access to historical data and analytics.

What Are the Main Segments in the Small Boats Market?
The small boats market covered in this report is segmented -

1) By Product Type: Powered Boat, Sail Boat, Personal Watercraft, Other Products
2) By Material: Fiberglass, Metal, Wood, Inflatable, Other Materials
3) By Application: Pleasure, Fishing, Defense, Other Applications

Subsegments:
1) By Powered Boat: Motorboat, Speedboat, Fishing Boat
2) By Sail Boat: Monohull Sailboat, Catamaran Sailboat
3) By Personal Watercraft: Jet Ski, Sea-Doo
4) By Other Products: Inflatable Boat, Canoe Or Kayak, Rowing Boat

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Which Top Companies are Driving Growth in the Small Boats Market?
Major companies operating in the small boats market include AB Volvo Penta, Polaris Industries Inc, Bombardier Recreational Products Inc, Brunswick Corporation, Beneteau Group SA, Malibu Boats Inc., Ferretti Group S.p.A., Sea Ray Boats Inc., MasterCraft Boat Company LLC, Azimut Benetti S.p.A., Marine Products Corporation, Boston Whaler Inc., Sunseeker International Holdings Limited, S2 Yachts Inc., Formula Boats Inc., Pursuit Boats LLC, Grady-White Boats Inc., Cobalt Boats LLC, Everglades Boats LLC, Seabring Marine Industries Inc., Sea Fox Boat Company, Four Winns Boats LLC, Stingray Boats Inc., Bavaria Yachtbau GmbH, Correct Craft Inc., Crestliner Marine Holdings Inc., WeLLCraft Marine Inc., Carver Yachts LLC

Which Regions Will Dominate the Small Boats Market Through 2029?
Asia-Pacific was the largest region in the small boats market in 2024. The regions covered in the small boats market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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