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Aluminium Fishing Boat Market Expected to Reach $2.5 Billion by 2030—Allied Market Research

 

Report Code : A16996

quote Growing popularity of fishing as a hobby that releases stress is expected to drive the market growth quote

Vitika Verma - Manager
Consumer Goods at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Aluminium Fishing Boat Market," The aluminium fishing boat market size was $1.4 billion in 2021, and is estimated to reach $2.5 billion by 2030, growing at a CAGR of 7.44% from 2022 to 2030.

Aluminum boats are both lightweight & durable and are not as abrasion-resistant as steel but are lighter and harder than fiberglass or wood. They may also build a vessel that is stronger than steel while weighing less. Deep-v jon boats, mod-v (or modified-vee), and bass boats are the three basic designs of aluminum fishing boats. Jon boats feature a fairly flat bottom & blunt bow and are particularly popular for usage in rivers and tiny lakes since they can operate in shallow water and rapidly get on the plane. Fishing as a hobby has been linked to a variety of health advantages, including stress alleviation, increased social bonding, self-fulfillment, and thrills & challenges. Many people, for example, enjoy fishing because it provides them with a sense of liberation. When individuals go fishing, they feel liberated since the atmosphere is so different from their everyday lives. Nature interaction allows you to forget about your troubles.

However, negatively charged aluminum metal attracts electrons from positively charged metal, making aluminum fishing boats prone to corrosion. Corrosion is caused by eroding the metal.

On comparing with fiberglass boats, aluminum fishing boats are less expensive and hence offer excellent growth opportunities. For example, Lund and Tracker's aluminum fishing boats come with high-end equipment to make fishing easier and cost less than $15,000. Also, they have advantageous features such as reduced weight, help boats in achieving high speeds with smaller engines, whereas fiberglass boats require huge or double engines to obtain the higher speed. The endurance and resilience of these boats are exceptional and will drive market growth.

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 deep-v boat, bass boat, multi-species 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.

Some of the leading aluminium fishing boat industry players 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 report offers a comprehensive analysis of the global aluminium fishing boat market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market.

The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the aluminium fishing boat market growth. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and the emergence of substitutes in the market.

The report covers a thorough analysis of aluminium fishing boat market analysis, aluminium fishing boat market share, aluminium fishing boat market opportunities, and aluminium fishing boat market forecast for each segment, region, and country(s).

Impact Of Covid-19 on the Global Aluminum Fishing Boat

  • The COVID-19 epidemic devastated the global aluminium fishing boat industry. This is due the imposition of complete lockdowns and travel restrictions in many countries. Furthermore, social distancing practices influenced the expansion of the aluminium fishing boat market, which is mostly used for recreational activities such as water tourism and fishing.
  • Many recreational activities, including fishing, were restricted in many countries in order to slow the spread of the epidemic. Import-export of raw materials required for the manufacture of aluminum fishing boats was 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 harmed the market share of aluminum fishing boats.

Key findings of the study

  • On the basis of boat type, the deep-v-boat sub-segment is predicted to have a dominating share in the global market during the forecast period.
  • On the basis of size, the 14-16 feet sub-segment is estimated to have a dominating market share in the global market.
  • By engine type, the,<200HP sub-segment is estimated to have a dominating market share in the global market. 
  • On the basis of region, Asia-Pacific region is projected to remain the fastest-growing sub-segment during the forecast period.

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quote Aluminium Fishing Boat Market by Boat Type (Bass Boat, Multi-species Boat, Deep-V Boat, Others), by Size (<14 Feet, 14-16 Feet, >16 Feet), by Engine Type (<200 HP, 200-300 HP, >300 HP): Global Opportunity Analysis and Industry Forecast, 2021-2030 quote

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