Ski Wake Boat Market | Covid-19 Impact Analysis

Ski and Wake Boat Market Insights

The performance of recreational boating industry is highly dependent upon the performance of the USA’s market, as the country is the largest demand generator of recreational boats globally. The recreational boat market has been marking positive growth since 2010 and is anticipated to cross the peak figure of 2008 very soon. Major players are resorting to inorganic growth strategies in order to position themselves better in the market, which, in turn, is leading to a greater market concentration.

The global ski and wake boat market size is projected to grow at a healthy rate over the next five years to reach US$ 1.94 billion in 2024. Increasing number of participants in outdoor activities, growing new powerboat sales, increasing HNWI population, and increased affordability of recreational boats are major growth propellers of the ski and wake boat market.

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Ski and Wake Boat Market Share Analysis

Insights by Boat Type

The market is segmented based on boat type as wakeboard boat, wakesurf boat, and ski boat. Wakeboard boat is expected to remain the growth engine of the market during the forecast period. Decrease in fuel prices, attractive boat layout, and new designs of boats are the key factors propelling the demand for wakeboard boats in the industry. 

Insights by Type of Hull Material

Based on the hull material type, the market is segmented as fiberglass boats and aluminum boats. Fiberglass boat is likely to remain the larger and the faster-growing segment of the market in the coming five years. The demand for fiberglass boat type is largely driven by the materials’ excellent properties such as excellent strength-to-weight ratio, incombustibility, high electrical insulating property, and low susceptibility to moisture.

Regional Insights

Based on regions, North America is expected to remain the largest ski and wake boat market during the forecast period with the USA being the growth engine. The country is expected to maintain its supremacy not only in the North American market, but also in the global market as well. All major recreational boat manufacturers have a widespread presence in all the major markets in the USA in order to better penetrate the market. Europe also holds a considerable share in the market with France, Germany, and the UK being the key demand generators in the region. Asia-Pacific is a relatively small market, but will exhibit excellent growth rate in years to come, largely driven by New Zealand, Australia, and China.

Key Players

The supply chain of this market comprises raw material suppliers, tier players, ski and wake boat manufacturers, distributors, and end-users. The global ski and wake boat market is highly consolidated with the presence of few boat manufacturers including Malibu Boats Inc., Mastercraft Boat Holdings Inc., Correct Craft Inc., and Skier’s Choice Inc. capturing lion’s share. Development of high-performance and valuable ski and wake boats, expansion of distribution network in untapped markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.

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

Ski and wake boats are family boats and are available in different types designed based on watersport activities. These boats are available in different sizes as per the demand of boaters. Different types of boats are preferred in different regions. For instance, wakeboard boats are preferred more in the USA, whereas wakesurf boats are majorly used in Europe.

The market is segmented in the following ways:

 Ski and Wake Boat Market Size, Share & Forecast by Boat Type:

• Wakeboard Boats
• Wakesurf Boat
• Ski Boat

Ski and Wake Boat Market Size, Share & Forecast by Hull Material Type:

• Fiberglass Boat
• Aluminum Boat

Ski and Wake Boat Market Size, Share & Forecast by Region:

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

Report Features

After publishing several studies on niche subjects including recreational fiberglass boat market, aluminum fishing boat market, pontoon boats market, marine composite materials market, and epoxy resin market in marine composite, we have further expanded our research scope with the addition of new report on yet another high growth market - ski and wake boat. This report forecasts the ski and wake boat market for the period 2019 to 2024 in terms of value and units; at the global, regional, and country-level. The report segments and analyzes the market in the most comprehensive manner to provide a 360-degree view of the market. The vital information provided in the report can play a crucial role for the market participants as well as investors in the identification of attractive market segments as well as formulation of growth strategies.

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.

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

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].