Pontoon Boat Market Outlook -
Pontoon boats are flat-deck boats containing two or more floating hulls or tubes typically powered by an outboard engine. They generally have either square or rectangular shapes, which make them less suitable for choppy or rough water; however, they are widely preferred in lakes where they are used for varied functions, such as entertainment, fishing, and lounging. These boats have large deck space, which adds more seating space, luxury, comfort, extra storage space, and additional room for various activities as per users’ interest. In addition, the pontoon boat is more spacious than any other motorboat, in turn, having plenty of storage space. Furthermore, the pontoon boat manufacturers are focusing on working closely with their customers in order to offer customizable boats such as integrating the boat with bluetooth speakers, additional seating, or even inflatable water slides. This is enabling the key player to remain competitive in the market by focusing on offering a tailor-made solution to their customers. In addition, pontoon boat is suitable for freshwater fishing as well as saltwater fishing under certain conditions which makes it a preferred for fishing aficionados as they can be integrated with swiveling fishing seats, rod holders, and livewells among others. This is anticipated to raise the sales of pontoon boat during the forecast period.
COVID-19 Impact analysis
The COVID-19 outbreak has ushered in a host of challenges to the pontoon boat market due to the closure of plants in major countries for a prolonged period. The prime concern for pontoon boat players is the declining production of boat in developed and developing economies which have adversely affected industries. Further, owing to the pandemic caused, users are avoiding to leave their house for non-essential activity, which in turn, is expected is to hinder the sales of new pontoon boat. However, to overcome the challenges posed by COVID-19 manufacturers are focusing on increasing product innovation and keeping consumers requirement in mind will lead to increased demand from anglers for hassle-free fishing experience. This is expected to bolster the demand for pontoon boat during the forecast period. At the same time, manufacturers are determining ways to tackle the situation by ensuring lesser lead time for delivery to influence the sales, perhaps creating demand for pontoon boat.
Top Impacting Factors
- Rise in tendency for recreational activities among people worldwide, untapped markets of emerging economies and technological advancement in boats are driving the growth of the market.
- The government policies and regulations regarding the environmental safety, and rise in the cost of raw material increase the cost of production is expected to hamper the growth of the market.
- Increase in disposable income can be seen as an opportunity for the market investments.
The pontoon boat market trends are as follows:
Technological advancement in boats
in pontoon boat engines, such as direct-injection technology, VTEC system, selective gear rotation system, four-stroke technology, and electronic fuel injection capability, increases engine power and drives the demand for recreational boats. Engine manufacturers are developing high powered and low polluting engines to meet consumer demand and reduce emissions from boating activities. Additionally, the launch of two and four-stroke engines with direct injection technology that offers increased fuel economy, low emissions, and more power is promoting the demand for advanced pontoon boat. Furthermore, leading pontoon boat manufacturers are continuously involved in new product developments or advancements in their existing product portfolio to gain a competitive advantage in the market. For instance, in 2020, Sun Tracker introduced its new pontoon recreational boat “Party Barge 20 DLX”. The newly launched boat has seating capacity up to 10 crew and is also equipped with Bluetooth stereo. Moreover, ongoing technological advancements of outboard recreational boats, such as improvement in propulsion systems, joystick docking control, automatic trim controls, and digital throttle controls, strengthen the product demand. Therefore, ongoing technical innovations in boats are offering growth opportunities for the pontoon boating market.
Key benefits of the report:
- This study presents the analytical depiction of the pontoon boat market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the pontoon boat market.
- The current market is quantitatively analyzed to highlight the pontoon boat market growth scenario.
- The report provides a detailed pontoon boat market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the pontoon boat market research report:
- Which are the leading market players active in the pontoon boat market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the pontoon boat market?
- What are the projections for the future that would help in taking further strategic steps?
Pontoon Boat Market Report Highlights
By Tube Type
By Power Source
Key Market Players
White River Marine Group, Silver Wave, Polaris Industries, Avalon Pontoon Boats, Smoker Craft, Forest River, Manitou Pontoon Boats, Tahoe, Larson Escape, Brunswick Corporation