Publication Month: Nov 2021 | Report Code: TIPRE00021520 | No. of Pages: 211 | Category: Automotive and Transportation | Status: Published
The tourism industry across the globe is increasing rapidly. According to the latest figures published by the United Nations World Tourism Organization (UNWTO), in July 2021, almost 54 million international tourists traveled across the world. This is the highest figure recorded since the beginning of the health crisis that brought the global tourism industry to a virtual standstill for many months. This figure also represents an increase of around 58%, compared to the 34 million international tourists in July 2020. Additionally, according to the World Travel and Tourism Council, Saudi Arabia is expected to record 22.1 million international arrivals by 2025, nearly 40% higher than Dubai's current visitors. Further, World Tourism Organization forecasts that South America will receive 78.2 million tourists by 2027, generating US$ 82 billion for the local economy. In addition, the UAE, Australia, the US, Canada, Brazil, Italy, France, Germany, India, and China are among the prominent tourist destinations. Thus, the growing tourism industry in these destinations increases recreational sailing and water sports activities. For instance, the snowballing effect of domestic and international tourist footfall in European countries is massively contributing to the recreational boating industry. In 2020, the global tourism sector witnessed decline due to the imposition of national lockdowns across the world. In 2021, with the uplifting of lockdowns and reopening of manufacturing factories, the production of pontoon boats has resumed. The tourism sector is working in many countries with strict government protocols. Various advanced features, such as Bluetooth speakers, additional seating, or even inflatable water slides, are being installed in the boats to attract customers. It would help in the growth of the pontoon boat market in the coming years.
|Market Size Value in||US$ 2,132.97 million in 2021|
|Market Size Value by||US$ 4,089.97 million by 2028|
|Growth rate||CAGR of 9.7% from 2021 to 2028|
|No. of Pages||211|
|No. of Tables||162|
|No. of Charts & Figures||110|
|Historical data available||Yes|
|Segments covered||Type, Tube Type, Propulsion Type, Size, and Application|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The COVID-19 pandemic has shaken several industries. The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicles and human movement due to travel bans, mass lockdowns, and business shutdowns. The lockdown imposition has resulted in the lesser production of commodities, goods, and services.
In 2020, the continuous growth in the number of virus-infected patients had governments put a bar on the transportation of humans and goods. The manufacturing sector has witnessed severe losses due to the temporary shutdown of factories and low production volumes, which has had a negative impact on pontoon boats globally. Additionally, governments' social or physical distancing measures have led ship manufacturers to limit their operations. Therefore, the pontoon boat market had a negative impact during 2020.
However, in 2021, with the uplifting of lockdown and vaccination processes, the manufacturing of pontoon boats has started again. Further, to overcome the challenges posed by the COVID-19 outbreak, the pontoon boat manufacturers are focusing on increasing product innovation and keeping consumers' requirements in mind will lead to increased demand. Therefore, the global pontoon boat market is growing steadily.
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With generous room aboard and rising versatility of deck and pontoons boats, the boat manufacturers are endlessly working to give a pleasant boating experience to consumers. The high inclination toward integrating advanced sensor and automation technologies throughout recreational boats is also driving the development phase of pontoon boats. Development in pontoon helps in providing a better and improved riding experience. The demand for pontoons is propelling across the globe due to the rising interest in outdoor and leisure recreation activities, such as lounging, cruising, and water-based adventurous activities. According to the regional government, the boating and tourism industries are well-developed and positioned to benefit from new opportunities prevailing in recreation and tourism. The well-positioned tourism and boating industries drive the penetration of pontoon and deck boats as these boats are used for the recreational and outdoor lounging purposes.
In addition, various countries such as Australia, US, Italy, France, Germany, Denmark, and Sweden among others are the prominent tourist destinations. Owing the growing tourism industry in these destinations, there is an increase in recreational sailing and water sports on waterways across various region in the world. The snowballing effect of domestic and international tourist footfall in European countries is massively contributing to the recreational boating industry in Europe.
Based on type, the pontoon boat market is segmented into bar boat, rear lounge, quad seating, arch models, and double decker. In 2020, the rear lounge segment led the market, accounting for the largest market share.
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Based on tube type, the pontoon boat market is bifurcated into double tube and triple tube. In 2020, the triple tube segment accounted for a larger market share.
Based on propulsion type, the pontoon boat market is segmented into single engine, double engine, and electric motor. In 2020, the double engine segment accounted for the largest market share.
Based on size, the pontoon boat market is segmented into less than 20 feet, 20–30 feet, and more than 30 feet. In 2020, the 20–30 feet segment accounted for the largest market share.
Based on application, the pontoon boat market is segmented into fishing, watersports, recreational, and others. In 2020, the recreational segment accounted for the largest market share.
The players operating in the pontoon boat market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
The List of Companies - Pontoon Boat Market