According to The Insight Partners market research study on “Europe Pontoon Boat Market Forecast to 2028 – COVID-19 Impact and Analysis – by Automotive and Transportation,” the market is expected to grow from US$ 488.39 million in 2021 to US$ 1,049.90 million by 2028; it is estimated to grow at a CAGR of 11.6% from 2020 to 2028. The report provides trends prevailing in the Europe pontoon boat market along with the drivers and restraints pertaining to the market growth. The growing boating industry, especially recreational boating across Europe, drives the growth of the pontoon boat market. Also, the surging sales of deck and pontoon boats due to the rising number of passengers for watersports and recreational activities would propel the demand for pontoons in the coming years.
The increasing general use of deck and pontoons boats is expanding their adoption exponentially. Therefore, to attract individuals, developments in pontoon boats are taking place. Below mentioned are a few of the instances for the same:
In 2021, BRP, a leader in personal watercraft with their Sea-Doo brand, has now showcased a 2022 Sea-Doo Switch (expansion in the line of Sea-Doo). It is an all-new pontoon boat offering incredible versatility and stability of the pontoon platform. The quick-change deck design can be completely reconfigured to suit the needs of a single fishing trip, family picnic, and wakeboard session. Also, the new Manitou portfolio continued the BRP's tradition of offering incredible on-water experiences for family and friends. Manitou has unveiled its model year 2022 lineup, which adds more power and premium features to a lineup of performance, luxury, and leisure pontoon boats, which is already excellent. The pontoon boats are breaking the stereotype of only lounging and cruising by entering the water sports line at a tremendous rate. Similarly, a pontoon boat manufacturer rolled out surfable pontoon. The new boat has a patent-pending design, which perfectly blends the comfort of a pontoon boat with the performance of an inboard surf boat. Furthermore, another pontoon boat manufacturer has introduced a pontoon for the water sports category. The new boat exhibits the features of an integrated rocker and shape, along with contoured wake plates to allow an optimum waterflow for surfing.
In the era of constant technological developments, the boating industry is also witnessing a wave of smart technologies. The pontoons boat market is executing technologies to attract individuals. The pontoon manufacturers are working on an aspect to give pontoon boats passengers a seamless transition from smart house to smart boat. Companies, such as Brunswick, are focusing on integrating technologies with all their boat brands. The company has entered a new level through new Solstice model of Harris Pontoons. The 230 & 250 Solstice models are the first Harris pontoons to provide CZone digital switching capabilities with Brunswick’s electrical infrastructure. The pre-programmed and single-touch modes give boater control of an onboard electrical system, ensuring improved consumer experience with modern-day luxury infused. In addition, CZone’s pontoon boats have functionalities and modes that can be changed, updated, and programmed in real-time—suitable for boat builders, novice, and advanced boaters on the water. Also, CZone digital switching smart feature includes pre-programmed and single-button click modes, such as: swimming mode, party mode, and cruising mode.
The Europe pontoon boat market is segmented on the basis of type, tube type, propulsion type, size, application, and countries. Based on type, the market is segmented into bar boat, rear lounge, quad seating, arch models, double decker, and others. The rear lounge segment held the largest market share in 2020 because these types of pontoon easily accommodate several individuals. In terms of tube type, the pontoon boat market is bifurcated into double tube and triple tube. In 2020, the triple tube segment held a larger market share. As three-tube pontoons are more stable and generally have larger engines with higher horsepower, these are widely used among passengers. Based on propulsion type, the market is segmented into single engine, double engine, and electric motor. The double engine segment held the largest market share in 2020. By size, the pontoon boat market is segmented into less than 20 feet, 20–30 feet, and more than 30 feet. The 20–30 feet segment dominated the market in 2020 and held the largest share as boats of these range can easily accommodate up to 10–13 passengers. The pontoon boat market, by application, is segmented into fishing, watersports, recreational, and others. The recreational segment held the largest market share in 2020 as demand among individuals for cruising is increasing in European countries.
Impact of COVID-19 Pandemic on Europe Pontoon Boat Market
The pontoon boat market has faced many obstacles due to the shutdown of facilities in critical European countries for an extended length of time due to the COVID-19 pandemic. The primary source of concern for pontoon boat operators is the decline in boat production in both established and developing nations, which has harmed the industry. Furthermore, due to the pandemic, users avoid leaving their homes for nonessential activities, which hampers the sales of new pontoon boats. Manufacturers are expanding product innovation and keeping consumers' needs in mind to address the hurdles provided by the COVID-19 pandemic, which would increase the demand from anglers for a hassle-free fishing experience. Therefore, the demand for pontoon boats is expected to grow during the forecast period.
Simultaneously, manufacturers are figuring out how to deal with the situation by ensuring shorter delivery times to affect sales and possibly create demand for pontoon boats. The pontoon boat market is expected to recover at the fastest pace in the post-pandemic situation. A few factors such as rising HNWI population, increasing boating participants, surging share of pontoon boats in outboard boats, versatile pontoon boat usage, advancements in boat engine technology, and higher affordability pontoon boats would provide some relief to the market in the coming years.
Furthermore, a third of the businesses reported a gain in revenue, while more than half reported a decrease. A rebound within two years is considered probable by 45% of enterprises that have reduced incomes. Companies whose primary business is tourism and production have been hurt harder financially than those in the distribution and service/other industries. Lower demand and the temporary closure of firms are leading causes of the sales decline. Higher demand, on the other hand, benefited the manufacturing sector. The interest in boating is increasing in the region. Businesses are increasingly focusing on digitalization, as well as, to a lesser extent, environmental sustainability. However, due to the epidemic, investments were postponed in 2020. Governments in every country aided struggling businesses. On both a national and European levels, government support is still required with the focus on financial assistance, reasonable regulation, and marketing.