Ski Wake Boat Market
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 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.
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 global ski and wake boat market 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.
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.
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.
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.
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.
This report offers high-quality insights and is 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. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. About 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts have been executed to obtain both qualitative and quantitative insights.
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 the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The market is segmented into the following categories:
Ski and Wake Boat Market, By Boat Type
Ski and Wake Boat Market, By Hull Material Type
Ski and Wake Boat Market, By Region
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