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    Recreational Fiberglass Boat Market Size, Share & Forecast (2019-2024)

    Recreational Fiberglass Boat Market Size, Share & Forecast (2019-2024)
    Report code - SRCG113 Published On : Apr,2019 No. of Pages: 210

    Recreational Fiberglass Boat Market Size, Share, Trend, Fore See more...

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    Recreational Fiberglass Boat Market Insights

    The next five years for the recreational fiberglass boats seem vigorous with attractive growth opportunities across the world. It is anticipated that the global recreational fiberglass boat market size is projected to depict a healthy growth over the next five years to reach an estimated value of US$ 9,538.5 million in 2024. Continuous increase in new powerboat sales, an increasing number of fishing participants, an increasing number of outboard motorboat sales, increasing HNWI population, and affordability of recreational fiberglass boats are major growth drivers of the recreational fiberglass boat market.

    Another factor drawing a consequential interest in the market is an increasing number of merger & acquisition activities in the past couple of years, leading to a greater market concentration. Major boat manufacturers own a large number of brands and have keenly been acquiring other brands in order to gain a larger chunk of the market. For instance, Malibu acquired Cobalt and Pursuit Boats in 2017 and 2018, respectively. Similarly, in 2017, acquisition of Nauticstar, LLC by Mastercraft.

    Recreational Fiberglass Boat Market Share Analysis

    The USA and Canada have been the pioneer markets for recreational boats for many decades. In 2018, roughly 49 million people were fishing participants in the USA, accounting for approximately 16.5% of the total population of the country. Fishing is the most popular boating activity and 2nd most popular outdoor activity in the USA.

    Recreational Fiberglass Boat Market Forecast

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    The last five years were quite promising with almost recovery of recreational boat sales after the steep decline in 2009 due to economic turmoil; however, the sales of recreational boats in the USA yet not reached its peak sales (279,800 boats in 2008 in the USA) but it is anticipated that the year 2019 would be iconic for the industry as the sales of recreational boats in the USA is likely to cross its peak sales of 2008.

    Insights by Boat Type

    The global recreational fiberglass boat market is segmented based on boat type as outboard boats, inboard/sterndrive boats, PWC, and others. In terms of units, the outboard boat segment is likely to remain the most dominant segment over the next five years, whereas, in terms of value, the inboard/sterndrive boat segment is likely to remain the dominant segment in the market over the same period. PWC is likely to be the fastest-growing segment during the forecast period, driven by the USA and Canada.

    Insights by Type of Applications

    Based on the application type, the recreational fiberglass boat market is segmented as fishing, watersports, sailing, and others. The fishing boat segment is likely is expected to remain the largest segment of the global recreational fiberglass boat market. Outboard boats are preferably used for fishing use. The watersports segment is likely to be the fastest-growing application type in the market over the next five years, much of this growth is attributed by the excellent PWC’s growth.

    Insights by Power Type

    Based on the power type, the recreational fiberglass boat market is segmented as engine-powered boats and sail-propelled boats. The engine-powered boat is expected to remain the larger as well as the faster-growing segment of the global recreational fiberglass boat market over the next five years. All the major boat types, such as outboard, inboard/sterndrive, and PWC, are powered by the engine only. Sail-propelled boat type is also likely to witness healthy growth in years to come.

    Regional Insights

    Based on the regions, North America is expected to remain the largest recreational fiberglass boat market during the forecast period with the USA being the growth engine. The USA is not only the largest market in North America but also the largest market in the world. All the major boat manufacturers have their presence in the region to tap the market potential. High outboard activity, especially fishing, is the major driver for the demand for recreational fiberglass boats in the country.  Canada is a relatively small market but is likely to witness healthy growth in years to come.

    Recreational Fiberglass Boat Market Forecast

    Europe also holds a considerable share in the market with France, Germany, Spain, and Sweden being the key demand generators in the region. It is estimated that these above-mentioned economies will continue to drive the region’s demand for recreational fiberglass boats in the coming five years.

    Asia-Pacific currently holds a diminutive share of the global recreational fiberglass boat market but is subjected to grow at the highest rate in the coming five years, propelled by China, Japan, and New Zealand. Out of these economies, China is likely to witness the highest growth over the next five years.

    Key Players

    The supply chain of this market comprises raw material suppliers, component suppliers, recreational fiberglass boat manufacturers, distributors, and end users. Some of the key recreational fiberglass boat manufacturers are Groupe Beneteau, Brunswick Corporation, White River Marine Group, Bombardier Recreational Product Inc., Malibu Boats, Marine Products Corporation, Mastercraft, Kawasaki, and Yamaha Motor Company Ltd. Development of high-performance and valuable recreational fiberglass boat, setting up or expansion of distribution network in unpenetrated markets, regional expansion, and execution of mergers & acquisitions are the key strategies adopted by the key players to gain a competitive edge in the market.

    Recreational Fiberglass Boat Market Forecast

    Research Methodology

    For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of 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. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

    Market Scope & Segmentation

    Boating is one of the most dynamic industries in the world and is highly exposed to external economic factors, such as disposable income. Recreational boats are the most popular ones among all types of boats, whose hull is preferably manufactured using two distinct materials: fiberglass and aluminum. Fiberglass boats currently dominate the overall recreational boat market and are even subjected to grow at a higher rate in the foreseen future, driven by the advantages of fiberglass boats over aluminum boats including corrosion resistance, lightweight, and long life.

    Research Scope

    Trend & Forecast Period

    2013-2024

    Size in 2024

    US$ 9,538.5 million

    Forecast

    4.0% CAGR during 2019-2024

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Countries Covered

    USA, Canada, Mexico, France, Germany, Spain, Sweden, Japan, New Zealand, China, Latin America, The Middle East

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

     

    The market is segmented in the following ways:

    Recreational Fiberglass Boat Market Size, Share & Forecast by Boat Type:

    • Outboard Boat
    • Inboard/Sterndrive Boat
    • PWC
    • Others

    Recreational Fiberglass Boat Market Size, Share & Forecast by Application Type:

    • Fishing
    • Watersports
    • Sailing
    • Others

    Recreational Fiberglass Boat Market Size, Share & Forecast by Power Type:

    • Engine-Powered Boats
    • Sail-Propelled Boats

    Recreational Fiberglass Boat Market Size, Share & Forecast by Region:

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: France, Germany, Spain, Sweden, and RoE)
    • Asia-Pacific (Country Analysis: Japan, New Zealand, China, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, The Middle East, and Others)

     

    Report Features

    This strategic assessment report on the Recreation Fiberglass Boat Market is based on the rigorous study of more than 50 boat manufacturers located worldwide. The report identifies the current as well as estimates the future penetration of fiberglass boats in various recreational boat types in order to understand the current and future potential of recreational fiberglass boat in the boating industry. The report provides a complete market assessment for the trend period of 2013 to 2018 and the forecast period of 2019 to 2024. It also provides a panoramic view of competitive landscapes. The report is constructed with the purpose to list down all the crucial market insights for the market participants for making the effective decision making.

    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, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.


    A bird's eye view of the Recreational Fiberglass Boat Market

    What will be the size of the Recreational Fiberglass Boat in the foreseeable years?

    Driven by a number of factors continuous increase in new powerboat sales, the recreational fiberglass boat market size is projected to reach an estimated value of US$ 9,538.5 million in 2024.

    Which country/region is expected to remain the largest Recreational Fiberglass Boat Market?

    Based on the regions, North America is expected to remain the largest recreational fiberglass boat market during the forecast period with the USA being the growth engine.

    Which type of application is expected to remain dominant?

    The fishing is likely to remain the most dominant application type during the forecast period.

    Who are the key players in the Recreational Fiberglass Boat Market?

    Groupe Beneteau, Brunswick Corporation, White River Marine Group, Bombardier Recreational Product Inc., Malibu Boats, Marine Products Corporation, Mastercraft, Kawasaki, and Yamaha Motor Company Ltd. are among the key players in the recreational fiberglass boat market.

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