Global Aluminum Fishing Boat Market is expected to Reach up-to $1,811.7 Million and Register a CAGR of 6.8% by 2026Download Sample Reports Overview
The world is facing an unanticipated change and many of the industries are experiencing thought provoking situation due to the COVID-19 pandemic. The COVID-19 outbreak has negatively impacted the aluminum fishing boat market. Aluminum is widely used for manufacturing of fishing boats that are used for freshwater and rise in the prevalence of people for freshwater boating activity around the world which in turn has impacted positively on the aluminum fishing boat market. In addition, aluminum offers crucial properties such as abrasion resistance, corrosion resistance, adaptability, and robustness. Thus aluminum boats are gaining more importance for fishing in the forecast period. During this coronavirus crisis situation; we are helping our clients in understanding the impact of COVID-19 on the global aluminum fishing boat market.
Our report includes:
- Technological Impact
- Social Impact
- Investment Opportunity Analysis
- Pre- & Post-COVID Market Scenario
- Infrastructure Analysis
- Supply Side & Demand Side Impact
According to a new report published by Research Dive, the global aluminum fishing boat market is predicted to harvest a revenue of $1,811.7million by 2026, at a CAGR of 6.8% in the forecast time from 2019 to 2026. The global aluminum fishing boat market is fragmented on the basis of boat type, size, engine type, and region. The report provides detailed information about drivers, opportunities, restraints, segmental analysis and competitive players of the market. As per our analysts, growing interest among people for freshwater boating activity and beneficial properties of aluminum for manufacturing of fishing boats are increasing adoption of aluminum fishing boats. However, aluminum boats are suitable for only freshwater boating activities which in turn are declining the growth of the market in the projected time.
Multi-Species Boat Segment has Dominant Market Share
Based on boat type, the global aluminum fishing boat market is fragmented into deep-v-boat, bass boat, multi-species boat, and others. Among these, multi-species boat segment dominated the market in the year 2018 and is expected to register for $222.8 million in 2026. Multi-species boats are manufactured with varying hull sizes so that they can be utilized for shallow water and moderate deep water. This is the major factor responsible for the growth of multi-species aluminum finished boat segment in the projected time frame.
>16-Feet Size Segment Will Grow at a Significant Rate throughout the Forecast Years
On the basis of size, the global aluminum fishing boat market is classified into <14-feet, 14-16 feet, and >16-feet. The market for >16-feet size segment will witness increased rise at a faster rate of 7.8% CAGR and is predicted to register for $568.9 million till the end of 2026. More the size of the boat more it can withstand strong waves and avoid crashing or damage of hulls or oil canning present in the modern boats.
200-300 HP Segment Will Grow at a Significant Rate throughout the Forecast Years
On the basis of horsepower (HP), the global aluminum fishing boats market is classified into<200 HP, 200-300 HP, and >300 HP. The market for >300HP segment will witness to rise at a faster rate of 7.9% CAGR and is predicted to register for $570.7 million till the end of 2026. Aluminum finished boats with >300 HP offers minimum consumption of fuel in small scale boats.
Regional Outlook and Major Market Players
Global aluminum fishing boat market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe region has dominated the global market share and is estimated to reach up to $434.8 million till 2026. This dominance is attributed due to the increased consumption of aluminum for manufacturing of boats and presence of major key-players such as Mercury Aluminum Boats, Crestliner, and UMS Tuna boats.
The most prominent players in the global aluminum fishing boat market are Mercury Boats, CrestlinerNautischeUnie, Lund Boats, UMS Tuna Boats, Yamaha Motor Company, Correct Craft, White River Marine Group, Telwater, Brunswick Corporation, Smoker Craft Inc., and other.