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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
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.
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Questions answered in the pontoon boat market research report:
Key Market Segments
Key Market Players