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Aluminum Fishing Boat Market Report

RA00067

Aluminum Fishing Boat Market by Boat Type (Bass Boat, Multi-species Boat, Deep-V Boat, and Others), Size (<14 Feet, 14-16 Feet, and >16 Feet), Engine Type (<200 HP, 200-300 HP, and >300 HP), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2030

RA00067

Pages: 245

Jun 2022

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Aluminum Fishing Boat Market

Global Aluminum Fishing Boat Market Analysis

The global aluminum fishing boat market size was $1,362.5 million in 2021 and is predicted to grow with a CAGR of 7.44%, by generating a revenue of $2,491.8 million by 2030.

Global Aluminum Fishing Boat Market Analysis

Source: Research Dive Analysis

Market Synopsis

Due to the increased engagement in outdoor activities like fishing, the aluminum fishing boat market is booming. Fishing is a popular outdoor activity that encompasses a variety of activities such as saltwater fishing, freshwater fishing, fly fishing, kayak fishing, and more. Fishing is also becoming increasingly popular among children as it exposes them to the wonders of nature. People's desire to reconnect with nature has also enhanced the appeal of fishing as a hobby.

However, availability of substitute products such as fiberglass boats and steel-based boats & ships is estimated to restrain the aluminum fishing boat market growth. For instance, the fiberglass boat is malleable and the material is easy to clean. Also, steel-based boats & ships are preferred in the oceans & seas compared to aluminum fishing boats. This is because aluminum fishing boats are prone to corrosion in saltwater such as oceans and seas.

The advancements in aluminum fishing boats that come with lifetime hull warranty which induces longevity are estimated to generate excellent growth opportunities. Also, aluminum provides 10 times the shear strength compared to fiberglass boat. Due to this, aluminum fishing boat has better fuel economy. Hence, aluminum fishing boats are about one-fourth times lighter than the fiberglass boats. Also, they can carry more people and goods.

According to regional analysis, the North America aluminum fishing boat market is predicted to garner the dominant share in the projected timeframe.

Aluminum Fishing Boat Overview

Aluminum fishing boats are used across wide range of applications such as fishing, sports, entertainment, and recreation. These boats have excellent riding features as they are light-weight and have high-speed even with low-powered engine. These boats are available in three basic styles namely jon boats, mod-v boats, and deep-v. For instance, jon boats are widely used in rivers and small lakes as they have flat bottom and a squared-off or blunt bow due to which they can operate on shallow water and can get on land quickly.

Aluminum fishing boats are gaining popularity in the freshwater fishing industry, which is predicted to raise the market growth over the forecast period. Consumers will be drawn to modern aluminum fishing boats, such as snug cabin boats and pontoon boats, which are being provided by marine manufacturers.

Impact of Covid-19 Aluminum Fishing Boat Market

The coronavirus outbreak has posed a number of issues for numerous enterprises around the world. Due to a significant drop in demand for recreational activities, the aluminum fishing boat market has suffered a setback. Travel restrictions, social distance conventions, and stay-at-home rules, for example, have all reduced the attractiveness of fishing as a sport. People have also avoided travel and outdoor activities due to their concern of catching the COVID-19 virus. Hence, recreational activities such as water tourism, fishing, and others were severely curtailed, reducing demand for aluminum fishing boats. Due to the severe economic crisis, many small-scale industries had to close their doors. The majority of the raw materials needed to make aluminum fishing boats, such as the hull, motor, and other components, are imported from China. However, because China was the epicenter of the COVID-19 outbreak, the government imposed import-export restrictions, which greatly reduced the availability of raw materials.

Popularity of Fishing due to its Stress Releasing Property to Drive the Market Growth

Fishing as a hobby is linked to a variety of health advantages, including stress alleviation, increased social bonding, self-fulfillment, and a thrilling & demanding experience. Many people, for example, enjoy fishing because it gives them a sense of freedom. People enjoy freedom when they go fishing since the setting is very different from everyday life. Nature interaction allows you to forget about your troubles. Fishing also fosters social bonding since it allows people to form strong bonds with their peers in a peaceful environment, away from the daily grind. Fishing promotes healthier lifestyle as people become active and feel encouraged. Nowadays, fishing has become a popular recreational activity as the pleasure of fishing lies in the activity itself and not in how many fishes are caught. Fishing creates a sense of self-fulfillment because when one goes for fishing, they respect environment, develop new skills, learn to be patient, and create a goal & try to achieve that goal.   

The productivity of a professional aluminum boat is one of the most significant advantages. Aluminum is 30% lighter than steel at 2.70 g/cm3. Reduced weight allows the boat to travel faster and more efficiently through the water. According to the size of the boat, these variances will become more noticeable.

In terms of energy and economics, aluminum is one of the most appealing metals for recycling. Because aluminum trash is a valuable resource, recycling metal is profitable.. Only 5% of the energy used to create the metal is used in the recycling process. The percentage of reclaimed aluminum has been continuously rising for 30 years to a level where it now represents 30% of the world’s consumption.

To know more about global aluminum fishing boat market drivers, get in touch with our analysts here.

Corrosion in Aluminum Fishing Boats is Expected to Limit Market Growth.

Aluminum fishing boats are prone to corrosion because negatively charged aluminum metal pulls electrons from positively charged metal. By degrading the metal, this corrodes it. Furthermore, applying anti-fouling agent to an aluminum boat is more difficult than applying anti-fouling agent to a fiberglass boat, raising the boat's cost. Long-term temperature tolerance of aluminum fishing boats is low, so prolonged exposure to high temperatures is not recommended. These challenges are projected to limit the size of the aluminum fishing boat sector in the next years.

Various Advantages Offered by Aluminum Fishing Boat like Strength and Durability to Generate Excellent Growth Opportunities

Aluminum fishing boats are less expensive as compared to fiberglass boats. For example, the Lund and Tracker aluminum fishing boats are fitted with high-end equipment to facilitate fishing and cost less than $15000. Aluminum boats can achieve high speeds with smaller engines than fiberglass boats, which require huge or double engines to obtain the same speed. These boats are extremely strong and durable. These boats can also endure the risks that may arise during the launching, towing, and retrieval processes. Also, these boats can withstand uncertainties that may occur during launching, towing, and retrieving process. For shallow waters and rocky beaches, aluminum boats are popular choice of fishermen. These boats have high resale value and require less maintenance during their lifespan. Aluminum boats are 100% recyclable that makes them eco-friendly.

To know more about global aluminum fishing boat market opportunities, get in touch with our analysts here

Aluminum Fishing Boat Market, by Boat Type

Based on boat type, the market has been divided into bass boat, multi-species boat, deep-v boat, and others. Among these, the deep-v boat sub-segment accounted for highest market share in 2021 and it is estimated to show the fastest growth during the forecast period.

Global Methanol Market Share, by Boat Type, 2021

Aluminum Fishing Boat Market, by Boat Type

Source: Research Dive Analysis

The deep-v boat sub-type is anticipated to have a dominant market share in the projected timeframe. Deep-v boats are popular among fisherman because they can function comfortably in choppy weather and go further offshore. At lower speeds, deep-v boats are easier to control. Due to the presence of a pointed bow that slices forward, the V shape design of these boats delivers a fantastic ride experience even in turbulent waves. When compared to flat bottom boats, deep-V boats can travel faster around the water, which is vital for activities like fishing contests.

Aluminum Fishing Boat Market, by Size

Based on size, the market has been divided into <14 feet, 14-16 feet, and >16 feet. Among these, the 14-16 feet sub-segment accounted for the highest revenue share in 2021 and it is estimated to show the fastest growth during the forecast period.

Global Aluminum Fishing Boat Market Share, by Size, 2021

Aluminum Fishing Boat Market, by Size

Source: Research Dive Analysis

The 14-16 feet sub-segment is anticipated to have a dominant market share during the timeframe. Mid-sized aluminum fishing boats, about 14-16 feet in length, are built for fishing in harsh waters and are noted for their durability. Aluminum fishing boats with a length of 14-16 feet are lighter, stronger, and can accommodate multiple persons. In addition, they are less expensive than fiberglass boats. For example, a 14-foot aluminum fishing boat from Lund, a leading boat manufacturer, is constructed of heavy-gauge aluminum for rigorous durability and a smooth ride.  Also, the 14 feet boat named SSV-14 is best suited for walleye fishing or running to & from the campsite which offers ultimate fishing experience. In addition, the 16-feet aluminum fishing boat by Lund named SSV-16 includes all the features of SSV-14 and has additional side console option or a drop-in floor for ultimate fishing boat experience. 

Aluminum Fishing Boat Market, by Engine Type

Based on engine type, the market has been divided into <200 HP, 200-300 HP, and >300 HP. Among these, the <200 HP sub-segment accounted for the highest market share in 2021 and is predicted to show the fastest growth during the forecast period.

Global Aluminum Fishing Boat Market Share, by Engine Type, 2021

Aluminum Fishing Boat Market, by Engine Type

Source: Research Dive Analysis

<200 HP sub-segment is anticipated to have a dominant market share in the timeframe. The market for engine-driven aluminum fishing boats is expected to expand at a steady pace. The <200 HP provides a fuel-saving choice for small-scale fishing, as well as great maneuverability, allowing you to move freely and quickly in larger bodies of water with harsher conditions. These boats are typically utilized for recreational activities such as fishing because they are more durable and comfortable.

Global Aluminum fishing Boat Market, Regional Insights:

The aluminum fishing boat market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Global Aluminum Fishing Boat Market Size & Forecast, by Region, 2021-2030 (USD Million)

Global Aluminum fishing Boat Market, Regional Insights

Source: Research Dive Analysis

The Market for Aluminum Fishing Boat in Asia-Pacific Region to Show the Fastest Growth

Japan's commercial fishing industry has existed for generations thanks to its love of seafood. Fishing is also seen as a hobby as well as a sport in Japan, reflecting the different fisheries available. In Japan, both freshwater and saltwater fishing are popular. Similarly, India's extensive coastline, which stretches for 8000 kilometers, contributes for more than 10% of the world's fish biodiversity. Rohm, Masher, Hilda, Rani, Kabuli, Trout, and other fish species thrive along these shores.  Furthermore, the product innovation and acquisition significantly contribute towards the market growth. For instance, Yamaha Motor Co., Ltd. in December 2021, revealed that they have acquired Siren Marine, Inc., which is a US based company that offers connected boat solutions to the marine industry with the help of smart technology. This acquisition will result in development for connected boat and Internet of Things that will support the marine industry and may further lead to lucrative market opportunities for key players in the upcoming years.

Competitive Scenario in the Global Aluminum Fishing Boat Market

Acquisition and business expansion are common strategies followed by major market players.

Competitive Scenario in the Global Aluminum Fishing Boat Market

Source: Research Dive Analysis

Some of the leading aluminum fishing boat market players are Yamaha Motor Co., Ltd., Brunswick Corporation, BRP, Correct Craft, Smoker Craft Inc., White River Marine Group, UMS Boats, Mirror Craft, Legend Boats, and Bennington Pontoon Boats.

Aspect

Particulars

  Historical Market Estimations

  2020-2021

  Base Year for Market Estimation

  2021

  Forecast Timeline for Market Projection

  2021-2030

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Boat Type

  • Bass Boat
  • Multi-species Boat
  • Deep-V Boat
  • Others

  Segmentation by Size

  • <14 Feet
  • 14-16 Feet
  • >16 Feet

  Segmentation by Engine Type

  • <200 HP
  • 200-300 HP
  • >300 HP

  Key Companies Profiled

  • Yamaha Motor Co., Ltd.
  • Brunswick Corporation
  • BRP
  • Correct Craft
  • Smoker Craft Inc.
  • White River Marine Group
  • UMS Boats
  • MirroCraft
  • Legend Boats
  • Bennington Pontoon Boats

Frequently Asked Questions
 

A. The size of the global aluminum fishing boat market was over $1,362.5 million in 2021 and is projected to reach $2,491.8 million by 2030.

A. Yamaha Motor Co., Ltd., Brunswick Corporation, and BRP are some of the key players in the global aluminum fishing boat market.

A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. North America aluminum fishing boat market is anticipated to grow at 7.25% CAGR during the forecast period.

A. Acquisition and business expansion are the two key strategies opted by the operating companies in this market.

A. Correct Craft, Smoker Craft Inc., and White River Marine Group are the companies investing more on R&D activities for developing new products and technologies.

1.Research Methodology

1.1.Desk research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.5.Market size estimation

1.5.1.Top-down approach
1.5.2.Bottom-up approach

2.Report Scope

2.1.Market definition
2.2.Key objectives of the study
2.3.Report overview
2.4.Market segmentation
2.5.Overview of the impact of COVID-19 on global aluminum fishing boat market

3.Executive Summary

4.Market Overview

4.1.Introduction
4.2.Growth impact forces

4.2.1.Drivers
4.2.2.Restraints
4.2.3.Opportunities

4.3.Market value chain analysis

4.3.1.List of raw material suppliers
4.3.2.List of manufacturers 
4.3.3.List of distributors

4.4.Innovation & sustainability matrices

4.4.1.Technology matrix
4.4.2.Regulatory matrix

4.5.Porter’s five forces analysis

4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity

4.6.PESTLE analysis

4.6.1.Political
4.6.2.Economical
4.6.3.Social
4.6.4.Technological
4.6.5.Environmental

4.7.Impact of COVID-19 on aluminum fishing boat market 

4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario

5.Aluminum Fishing Boat Market, by Boat Type  

5.1.Overview

5.1.1.Market size and forecast, by  boat type   

5.2.Bass boat

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region, 2021-2030
5.2.3.Market share analysis, by country 2021 & 2030

5.3.Multi-species boat

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region, 2021-2030
5.3.3.Market share analysis, by country 2021 & 2030

5.4.Deep-v boat

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region, 2021-2030
5.4.3.Market share analysis, by country 2021 & 2030

5.5.Others

5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, by region, 2021-2030
5.5.3.Market share analysis, by country 2021 & 2030

5.6.Research Dive Exclusive Insights

5.6.1.Market attractiveness
5.6.2.Competition heatmap

6.Aluminum Fishing Boat Market, by Size 

6.1.Overview

6.1.1.Market size and forecast, by size

6.2.<14 feet

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region, 2021-2030
6.2.3.Market share analysis, by country 2021 & 2030

6.3.14-16 feet

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region, 2021-2030
6.3.3.Market share analysis, by country 2021 & 2030 

6.4.>16 feet

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by region, 2021-2030
6.4.3.Market share analysis, by country 2021 & 2030 

6.5.Research dive exclusive insights

6.5.1.Market attractiveness
6.5.2.Competition heatmap 

7.Aluminum Fishing Boat Market, by Engine Type

7.1.Overview

7.1.1.Market size and forecast, by engine type

7.2.<200HP

7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by region, 2021-2030
7.2.3.Market share analysis, by country 2021 & 2030

7.3.200-300HP

7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by region, 2021-2030
7.3.3.Market share analysis, by country 2021 & 2030 

7.4.>300HP

7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by region, 2021-2030
7.4.3.Market share analysis, by country 2021 & 2030 

7.5.Research Dive exclusive insights

7.5.1.Market attractiveness
7.5.2.Competition heat map 

8.Aluminum Fishing Boat Market, by Region

8.1.North America

8.1.1.U.S.

8.1.1.1.Market size analysis, by  boat type 
8.1.1.2.Market size analysis, by size 
8.1.1.3.Market size analysis, by engine type

8.1.2.Canada

8.1.2.1.Market size analysis, by  boat type 
8.1.2.2.Market size analysis, by size 
8.1.2.3.Market size analysis, by engine type 

8.1.3.Mexico

8.1.3.1.Market size analysis, by  boat type 
8.1.3.2.Market size analysis, by size 
8.1.3.3.Market size analysis, by engine type

8.1.4.Research Dive exclusive insights

8.1.4.1.Market attractiveness
8.1.4.2.Competition heatmap

8.2.Europe

8.2.1.Germany 

8.2.1.1.Market size analysis, by  boat type 
8.2.1.2.Market size analysis, by size 
8.2.1.3.Market size analysis, by engine type

8.2.2.UK

8.2.2.1.Market size analysis, by  boat type 
8.2.2.2.Market size analysis, by size 
8.2.2.3.Market size analysis, by engine type

8.2.3.France

8.2.3.1.Market size analysis, by  boat type 
8.2.3.2.Market size analysis, by size 
8.2.3.3.Market size analysis, by engine type

8.2.4.Spain

8.2.4.1.Market size analysis, by  boat type 
8.2.4.2.Market size analysis, by size 
8.2.4.3.Market size analysis, by engine type

8.2.5.Italy

8.2.5.1.Market size analysis, by  boat type 
8.2.5.2.Market size analysis, by size 
8.2.5.3.Market size analysis, by engine type

8.2.6.Rest of Europe

8.2.6.1.Market size analysis, by  boat type 
8.2.6.2.Market size analysis, by size 
8.2.6.3.Market size analysis, by engine type

8.2.7.Research Dive exclusive insights

8.2.7.1.Market attractiveness
8.2.7.2.Competition heatmap

8.3.Asia-Pacific

8.3.1.China

8.3.1.1.Market size analysis, by  boat type 
8.3.1.2.Market size analysis, by size 
8.3.1.3.Market size analysis, by engine type

8.3.2.Japan 

8.3.2.1.Market size analysis, by  boat type 
8.3.2.2.Market size analysis, by size 
8.3.2.3.Market size analysis, by engine type

8.3.3.India

8.3.3.1.Market size analysis, by  boat type 
8.3.3.2.Market size analysis, by size 
8.3.3.3.Market size analysis, by engine type

8.3.4.Australia

8.3.4.1.Market size analysis, by  boat type 
8.3.4.2.Market size analysis, by size 
8.3.4.3.Market size analysis, by engine type

8.3.5.South Korea

8.3.5.1.Market size analysis, by  boat type 
8.3.5.2.Market size analysis, by size 
8.3.5.3.Market size analysis, by engine type

8.3.6.Rest of Asia-Pacific

8.3.6.1.Market size analysis, by  boat type 
8.3.6.2.Market size analysis, by size 
8.3.6.3.Market size analysis, by engine type

8.3.7.Research Dive exclusive insights

8.3.7.1.Market attractiveness
8.3.7.2.Competition heatmap

8.4.LAMEA

8.4.1.Brazil

8.4.1.1.Market size analysis, by  boat type 
8.4.1.2.Market size analysis, by size 
8.4.1.3.Market size analysis, by engine type

8.4.2.Saudi Arabia

8.4.2.1.Market size analysis, by  boat type 
8.4.2.2.Market size analysis, by size 
8.4.2.3.Market size analysis, by engine type

8.4.3.UAE

8.4.3.1.Market size analysis, by  boat type 
8.4.3.2.Market size analysis, by size 
8.4.3.3.Market size analysis, by engine type

8.4.4.South Africa

8.4.4.1.Market size analysis, by  boat type 
8.4.4.2.Market size analysis, by size 
8.4.4.3.Market size analysis, by engine type

8.4.5.Rest of LAMEA

8.4.5.1.Market size analysis, by  boat type 
8.4.5.2.Market size analysis, by size 
8.4.5.3.Market size analysis, by engine type

8.4.6.Research Dive exclusive insights

8.4.6.1.Market attractiveness
8.4.6.2.Competition heatmap

9.Competitive Landscape

9.1.Top winning strategies, 2021

9.1.1.By strategy
9.1.2.By year

9.2.Strategic overview
9.3.Market share analysis, 2021

10.Company Profiles

10.1.Yamaha Motor Co.Ltd 

10.1.1.Overview
10.1.2.Business segments
10.1.3.Product portfolio
10.1.4.Financial performance
10.1.5.Recent developments
10.1.6.SWOT analysis

10.2.Brunswick Corporation

10.2.1.Overview
10.2.2.Business segments
10.2.3.Product portfolio
10.2.4.Financial performance
10.2.5.Recent developments
10.2.6.SWOT analysis

10.3.BRP

10.3.1.Overview
10.3.2.Business segments
10.3.3.Product portfolio
10.3.4.Financial performance
10.3.5.Recent developments
10.3.6.SWOT analysis

10.4.Correct Craft

10.4.1.Overview
10.4.2.Business segments
10.4.3.Product portfolio
10.4.4.Financial performance
10.4.5.Recent developments
10.4.6.SWOT analysis

10.5.Smoker Craft Inc

10.5.1.Overview
10.5.2.Business segments
10.5.3.Product portfolio
10.5.4.Financial performance
10.5.5.Recent developments
10.5.6.SWOT analysis

10.6.White River Marine Group

10.6.1.Overview
10.6.2.Business segments
10.6.3.Product portfolio
10.6.4.Financial performance
10.6.5.Recent developments
10.6.6.SWOT analysis

10.7.UMS Boats

10.7.1.Overview
10.7.2.Business segments
10.7.3.Product portfolio
10.7.4.Financial performance
10.7.5.Recent developments
10.7.6.SWOT analysis

10.8.MirroCraf

10.8.1.Overview
10.8.2.Business segments
10.8.3.Product portfolio
10.8.4.Financial performance
10.8.5.Recent developments
10.8.6.SWOT analysis

10.9. Legend Boats

10.9.1.Overview
10.9.2.Business segments
10.9.3.Product portfolio
10.9.4.Financial performance
10.9.5.Recent developments
10.9.6.SWOT analysis

10.10.Bennington Pontoon Boats.

10.10.1.Overview
10.10.2.Business segments
10.10.3.Product portfolio
10.10.4.Financial performance
10.10.5.Recent developments
10.10.6.SWOT analysis

11.Appendix

11.1.Parent & peer market analysis
11.2.Premium insights from industry experts
11.3.Related reports

Aluminum fishing boats are widely used in outdoor activities like fishing, entertainment, and water sports including wake-surfing, ski-boating, etc. Aluminum fishing boats are light-weight and offer great speeds; as a result they are perfect for fishing and other such activities. Aluminum fishing boats are mainly of three types: deep-v boats, jon-boats, and mod-v boats. While deep-v boats are perfect for rough seas, mod-v boats are built to easily carve through calmer waters. Jon boats, on the other hand, have a unique capability of maintaining stability even while cruising at high speeds.

Forecast Analysis:

As per a report by Research Dive, the global aluminum fishing boat market is expected to reach a revenue of $2,491.8 million in the 2021–2030 timeframe, thereby growing at CAGR of 7.44% by 2030. Over the years, fishing has become a popular outdoor recreational activity and sport. This growth in popularity and increasing engagement in fishing activities is expected to be the primary growth driver of the aluminum fishing boat market in the coming years. Along with this, the various advantages provided by aluminum fishing boats such as strength and durability are predicted to boost the market in the future. Moreover, the increasing expanse of freshwater fishing industry since the last few years is expected to offer numerous growth opportunities to the market. However, according to the Research Dive’s market analysts, corrosion in aluminum fishing boats might become a hurdle in the full-fledged growth of the aluminum fishing boat market in the 2021-2030 timeframe.

Regionally, the aluminum fishing boat market in the Asia-Pacific region is expected to have the fastest growth rate in the forecast period. The ever-growing nature of Japan’s commercial fishing industry is predicted to be the main contributing factor to the growth of the market in this region. Furthermore, both freshwater and saltwater fishing are extremely popular as an outdoor sport in Japan which is expected to push the market forward. Along with this, strategic alliances among key market players in the form of acquisitions and product innovations is anticipated to help the market in this region to grow in the forecast period.

Covid-19 Impact on the Market

The Covid-19 pandemic and the subsequent lockdowns have had a catastrophic impact on various businesses and markets worldwide. The aluminum fishing boat market, too, faced a similar fate. The lockdowns put in place to curb the spread of the virus led to a considerable decline in the number of people engaging in outdoor recreational activities like fishing. This led to decline in the demand for aluminum fishing vessels. Along with this, the supply of raw materials required for manufacturing aluminum boats also halted due to the travel restrictions. Both these factors severely impacted the aluminum fishing boat market during the pandemic years.

Significant Market Developments

Some prominent market players include Yamaha Motor Co., Ltd., Smoker Craft Inc., Mirror Craft, Brunswick Corporation, White River Marine Group, Legend Boats, BRP, UMS Boats, Bennington Pontoon Boats, Correct Craft, and many others. The key players of the market are adopting various business strategies such as partnerships, mergers & acquisitions, and launches to gain a leading position in the market, thus helping the aluminum fishing boat market to flourish. For instance:

In January 2021, Princecraft Boats, a leading aluminum fishing boats manufacturer, announced the launch of its Virtual Park, wherein customers can take a look at the most popular fishing boat models launched by the company and explore the functionalities of these fishing boats in a greater detail. This will help the company to attract a much larger customer base and ultimately increase its footprint in the aluminum fishing boat market.

In June 2021, Yamaha Motor Co., Ltd., a Japan-based multinational automobile and boat manufacturing company, announced a 5-year partnership with Finval Boats, a Ukranian fishing boat building company. This partnership is expected to help both the companies to pool their resources together and cater to the demands of their customers, thereby helping the companies to consolidate their position in the aluminum fishing boat market.

In December 2021, Yamaha Motor Co., Ltd., a Japanese automobile and boat manufacturing giant, announced the acquisition of Siren Marine, Inc., a US-based smart boat technology solutions provider. This acquisition is expected to help Yamaha to further develop Connected Boat Solutions, the smart boat technology supplied by Siren Marine, and equip their upcoming fishing vessels with this technology.

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