Aluminium Fishing Boat Market Research, 2030
The global aluminium fishing boat market size was $1.4 billion in 2021, and is projected to reach $2.5 billion by 2030, growing at a CAGR of 7.44% from 2022 to 2030.
The aluminium fishing boat market is segmented into Boat Type, Size and Engine Type.
Aluminum fishing boats are used for a variety of purposes, including fishing, sports, entertainment, and recreational activities. These boats offer good riding characteristics because of their minimal weight and quick speed, even when powered by a low-powered engine. Jon boats, mod-v boats, and deep-v boats are the three fundamental forms of these boats. Jon boats, for example, are popular in rivers and small lakes because they have a flat bottom and a squared-off or blunt bow, allowing them to operate in shallow water and rapidly get on plane.
Fishing activity is gaining popularity among the people in the developed countries. It helps in increasing social bonding, relives stress, self-fulfillment, and provides thrills & challenges. Due to increased engagement in outdoor activities like fishing, the aluminum fishing boat market is booming. Fishing is a popular outdoor activity that encompasses several sorts of fishing such as saltwater fishing, freshwater fishing, fly fishing, kayak fishing, and other types of fishing.
However, when an aluminum mixture fishing boat is empty, the structure is less stable than a fiberglass boat, and it shakes. Aluminum fishing boats are also subjected to water damage. The aluminum fishing boat is prone to distortion and leakage as a result of the impact, which is expected to limit the aluminium fishing boat market growth in the coming years.
The developments in aluminum fishing boats that come with a lifetime hull warranty are expected to provide significant growth potential. In addition, compared to a fiberglass boat, aluminum has ten times the shear strength. Aluminum fishing boats have a superior fuel economy as a result of this. Thus, aluminum fishing boats are around one-fourth the weight of fiberglass boats. It can also transport more passengers and products.
The global aluminium fishing boat industry players are investing a lot of effort in the research and development of smart and unique strategies to sustain their growth in the market. These strategies include product launches, mergers & acquisitions, collaborations, partnerships, and refurbishing of existing technology.
Some of the leading players operating in the market are Yamaha Motor Co., Ltd., Brunswick Corporation, BRP, Correct Craft, Smoker Craft Inc., White River Marine Group, UMS Boats, MirroCraft, Legend Boats, and Bennington Pontoon Boats.
The global aluminum fishing boat market is segmented on the basis of boat type, size , engine type, and region. By boat type, the market is classified as bass boat, multi-species boat, deep-v boat, and others. By size, it is classified as <14 feet, 14-16 feet, and >16 feet. By engine type, the market is segmented into <200 HP, 200-300 HP, and >300 HP. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By boat type, the deep-v-boat sub-segment is predicted to have a dominating share in the global market during the forecast period. This is attributed to rising demand for advanced feature deep-v boats among fishermen because they can navigate choppy water and go further offshore. At low speeds, deep-v boats are easier to control. These factors are anticipated to boost the deep-v-boat market demand in the upcoming years
By size, the 14-16 feet sub-segment is estimated to have a dominating market share in the global market. 14-16 foot aluminum fishing boats are classified as mid-sized fishing boats and are noted for their toughness. They are ideal for fishing in stormy conditions. Aluminum fishing boats with a length of 14-16 feet are lightweight and have exceptional strength, allowing them to carry multiple people.
By engine type, <200 HP sub-segment is estimated to have a dominating market share in the global market. The popularity of the <200 HP aluminum fishing boat is due to its superior performance in shallow waters. Also, it is the most common engine used in jon aluminum boats. Aluminum fishing boats with <200 HP engines are built for maximum speed, maximum performance, and engine versatility
By region, Asia-Pacific region is projected to remain the fastest-growing sub-segment during the forecast period. The increasing fishing and aquaculture industries, as well as recreational activities like boating, are the main drivers of growth. For example, Japan's commercial fishing industry has existed since generations due to its love for seafood.
Key Benefits For Stakeholders
- The report provides an in-depth analysis of the global aluminium fishing boat market trends along with the current and future market forecast.
- This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
- Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the global aluminum fishing boat market trends for strategy building.
- A comprehensive global aluminium fishing boat market analysis covers factors that drive and restrain the market growth.
- The qualitative data in this report aims on market dynamics, aluminium fishing boat market opportunities, and developments.
- The report provides provide in-depth analysis of aluminium fishing boat market share and aluminium fishing boat market forecast for each segment and country(s).
IMPACT OF COVID-19 ON THE GLOBAL ALUMINUM FISHING BOAT MARKET
- The COVID-19 outbreak has wreaked havoc on the global aluminum fishing boat business. This is largely due to complete lockdowns and travel restrictions enforced across various countries. Additionally, social distancing conventions have had an impact on the growth of the aluminum fishing boat market, which is mostly employed for recreational activities like water tourism and fishing.
- The demand for aluminum fishing boats has dropped dramatically as a result of travel limitations, significantly impacting industry growth. Many recreational activities, including fishing, have been outlawed in some nations in order to slow the spread of the epidemic. Import-export of raw materials required for the manufacture of aluminum fishing boats has been hampered by government laws governing non-essential enterprises.
- Pending export payments, rising fuel prices, falling fish prices, delayed shipments, and other issues plague fishing boat trawlers. During the pandemic, these factors have harmed the market share of aluminum fishing boats.
Aluminium Fishing Boat Market Report Highlights
By Boat Type
By Engine Type
Key Market Players
MirroCraft, Brunswick Corporation, correct craft, UMS Boats, White River Marine Group, BRP, Bennington Pontoon Boats, legend boats, Smoker Craft Inc., Yamaha Motor Co., Ltd.
According to the analyst review of the leading companies, the rise in boat sales, lower cost of aluminum boats than fiberglass boats, and increasing outdoor activities with rising numbers of fishing members are some of the major factors driving the aluminum fishing boat market. Boating is one of the major outdoor participation activities, especially in the United States, accounting for more than 35% of total outdoor participation activities in the United States. However, aluminum fishing boats are prone to corrosion because negatively charged aluminum metal pulls electrons from positively charged metal. Corrosion is caused by the metal degrading. On the contrary, compared to fiberglass, applying anti-fouling chemical to an aluminum boat is more complicated, which raises the boat's cost. When compared to fiberglass fishing boats, aluminum fishing boats are less expensive. For example, the Lund and Tracker aluminum fishing boats are fitted with high-end equipment to facilitate fishing and cost less than $15,000. Due to the reduced weight of aluminum, these boats may achieve high speeds with smaller engines, whereas fiberglass boats require larger or double engines to obtain the same speed. These boats are extremely durable and sturdy.
Among the analyzed regions, North America is expected to account for the highest revenue in the market by the end of 2030, followed by Europe, Asia-Pacific, and LAMEA. Rising fishing demand for stress relieving is responsible for leading positions of North America and Asia-Pacific in the global aluminum fishing boat market.