Aluminum Fishing Boat Market Report
The Aluminum Fishing Boat Market is Segmented by Boat Type (Deep-V Boat, Bass Boat, Multi-Species Boat, and Others), by Size Type (<14 Feet, 14-16 Feet, and >16 Feet), by Engine Type (<200 HP, 200-300 HP, and >300 HP), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
The Aluminum Fishing Boat Market is Segmented by Boat Type (Deep-V Boat, Bass Boat, Multi-Species Boat, and Others), by Size Type (<14 Feet, 14-16 Feet, and >16 Feet), by Engine Type (<200 HP, 200-300 HP, and >300 HP), and by Region...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
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 picture and have started being widely used in fishing boats.
The global aluminum fishing boat market size is projected to depict a healthy growth over the next five years to reach an estimated value of US$ 1,741.4 million in 2024. Aluminum is the most widely used material to manufacture the hull in fishing boats. Increasing new boat sales, increasing outdoor activities participants coupled with increasing number of fishing participants, and 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.
The global aluminum fishing boat market is segmented based on boat type as deep-v boat, bass boat, multi-species boat and others. Deep-V boat is expected to remain the growth engine of the market during the forecast period. Extra-wide bottom 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.
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.