Aluminum Fishing Boat Market Analysis | 2019-2024

Market Insights

The aluminum fishing boat market is projected to grow at a healthy CAGR of 4.2% over the next five years to reach an estimated value of USD 1.7 billion in 2024.

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Market Dynamics

Introduction

Aluminum fishing boats are lighter in weight than fiberglass boats of the same dimensions. This makes them an easy option for convenient launching, pushing off, and maintaining it. It is also efficient in saving less oil due to its smaller powerplant and hence offering its contribution towards the environment.

Aluminum fishing boats are not just lighter in weight but are also strong and reliable on the waves. Also, these boats are made in such a way that they also lead to much less noise in comparison to other fishing boat options available.

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 the picture and have started being widely used in fishing boats.

Market Drivers

Aluminum is the most widely used material to manufacture the hull of fishing boats. Increasing new boat sales, increasing outdoor activity participants coupled with an increasing number of fishing participants, and the 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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Key Players

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.
• 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.

Note: The above list does not necessarily include all the top players in the market.

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Segments' Analysis

By Boat Type

The aluminum fishing boat market is segmented based on boat type as deep-v boats, bass boats, multi-species boats, and others. Deep-V boat is expected to remain the growth engine of the market during the forecast period. Extra-wide bottoms 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.

Regional Insights

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.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects the aluminum fishing boat market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a 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.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• 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, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The aluminum fishing boat market is segmented in the following ways:

By Vehicle Type

• Deep-V Boat
• Bass Boat
• Multi-Species Boat
• Others

By Size Type

• <14 Feet Fishing Boats
• 14-16 Feet Fishing Boats
• >16 Feet Fishing Boats

By Engine Type

• <200 HP
• 200-300 HP
• >300 HP

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, Scandinavia, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Australia, New Zealand, China, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the component types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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