Report Code: A14681 | Pages: NA | Mar 2023 | 820 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Powerboat Market
Request Now !A motorboat, speedboat or powerboat is a boat that is exclusively powered by an engine. Some powerboats are fitted with inboard engines, others have an outboard motor installed on the rear, containing the internal combustion engine, the gearbox and the propeller in one portable unit. An inboard-outboard contains a hybrid of an inboard and an outboard, where the internal combustion engine is installed inside the boat, and the gearbox and propeller are outside. There are two configurations of an inboard, V-drive and direct drive. A direct drive has the powerplant mounted near the middle of the boat with the propeller shaft straight out the back, where a V-drive has the powerplant mounted in the back of the boat facing backwards having the shaft go towards the front of the boat then making a V towards the rear.
The powerboat market share is segmented by power, type, application, and region. Based on power, the market is classified into engine powered, man powered, and sail propelled. Based on type, the market is categorized into inboard boats, outboard boats, inflatable, sail boats, and personal watercrafts. Based on application, the market is segregated into watersports & cruising and fishing.
COVID-19 scenario analysis:Â
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The factors such as growing interest toward recreational water sport activities and rising water-based tourism are anticipated to drive the power boating market growth. However, high initial & ownership cost of recreational boats and environmental concerns associated with recreational boating are expected to hinder the market growth. Further, technological advancement in boats & boat engines and growing high net-worth population are some of the factors expected to offer lucrative opportunities for the market growth during the forecast period.
The global powerboat market trends are as follows:
New product launches to flourish the market
Market players are introducing twin turbocharged engines offering high torque and power, thereby supporting the demand for boats equipped with high horsepower engines. 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. In addition, the introduction of outboard boats equipped with such advanced features is increasing the adoption of outboard boats for racing events.
Growing interest of consumers toward water sporting activitiesÂ
The rising popularity of sport fishing and motorized watersports, such as jet skiing, sailing, and yachting activities and growing interest of consumers toward water sporting activities coupled with improved participation among all age groups have influenced the development of recreational boating facilities across the globe.
Innovation in 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 power 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 power boats.
Key benefits of the report:
Questions answered in the research report:
Powerboat Market Report Highlights
Aspects | Details |
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By Power |
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By Type |
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By Application |
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By Region |
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Key Market Players | Azimut Benetti Group, Brunswick Corporation, Groupe Beneteau, Hobie Cat Company, Marine Products Corporation, Mastercraft Boat Holdings, Inc, Polaris Inc, Sunseeker International Limited, White River Marine Group, Yamaha Motor Co., Ltd. |
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