Pontoon Boat Market Key Players and Forecast by 2031

The pontoon boat market size is projected to reach US$ 5,324.20 million by 2031 from US$ 2,561.17 million in 2023. The market is expected to register a CAGR of 9.5% during 2023–2031. The increasing number of consumers pending outdoor recreational activities across the globe is driving the trend in the market.

Pontoon Boat Market Analysis

The increasing general use of deck and pontoon boats is expanding their adoption exponentially. Therefore, to attract individuals, developments in pontoon boats are taking place. Below are a few of the instances of the same:

In 2021, BRP, a leader in personal watercraft with their Sea-Doo brand, has now showcased a 2022 Sea-Doo Switch (an 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 line-up, which adds more power and premium features to a line-up of performance, luxury, and leisure pontoon boats, which is already excellent.

Pontoon Boat Market Overview

The pontoon boat market is constantly experiencing evolution. From being a simple boxy floating boat to a luxury-laden pleasure boat, a pontoon boat provides a relaxing experience to individuals for invigorating thrill rides. Pontoon boats are used for different purposes such as swimming, cruising, and watersports, as well as for lounging. For recreational activities, such as skiing, wakeboarding, and tubing, the boats have tow-bits and storage lockers, which are large enough to hold water skis or kneeboards, and swim platforms with large and stable ladders for climbing on/off the boat. Pontoon boats are flat-deck boats powered by an outboard engine. These boats have square/rectangular shapes that make them ideal for choppy/rough water. The pontoon boats are also broadly used in lakes for entertainment, lounging, and fishing purposes. These boats have large deck space that adds more seating space, extra storage space, luxury, comfort, and additional room for different activities according to users' interests.

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Pontoon Boat Market: Strategic Insights

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Pontoon Boat Market Drivers and Opportunities

The rising boating industry at a rapid pace drives market growth.

The growing boating industry, especially recreational boating across the globe, drives the growth of the pontoon boat market. Also, a rise in the sales of deck and pontoon boats due to the rising number of passengers for water sports & recreational activities will play a magnificent role in generating demand for pontoons. Moreover, with the emergence of IoT-based applications, the trend of real-time tracking and smart boats is picking up its pace. The integration of IoT in pontoon boats is expected to create lucrative business opportunities for pontoon boat manufacturers and providers in the coming years. However, the low speed and inefficient performance of pontoon boats on rough water restrain the growth of the pontoon boat market.

Rising Global Tourism Industry

The tourism industry across the globe is increasing rapidly. According to the latest figures published by the UNWTO, in July 2021, almost 54 million international tourists traveled worldwide. 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 reach 22.1 million in international arrivals by 2025, nearly 40% higher than Dubai's current visitors.

Further, the 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, countries such as 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.

Pontoon Boat Market Report Segmentation Analysis

• Key segments that contributed to the derivation of the pontoon boat market analysis are 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 pontoons easily accommodate several individuals. In terms of tube type, the pontoon boat market is bifurcated into the double tube and triple-tube. In 2023, the triple tube segment held the largest 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 motors. The market for the double engine segment held the largest market share in 2023.
• Based on size, the pontoon boat market is segmented into less than 20 feet, 20–30 feet, and more than 30 feet. The 20-30 feet size dominated the market in 2023 and held the largest share as boats of these ranges can easily accommodate up to 10-13 passengers.
• The pontoon boat market, by application, is segmented into fishing, watersports, recreational, and others. Recreational application held the largest market share in 2023 as demand among individuals for cruising is increasing in global countries.

Pontoon Boat Market Share Analysis by Geography

The geographic scope of the Pontoon Boat market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America is expected to have the largest share in 2023. This is owing to the increasing demand for recreational boats. The National Marine Manufacturers Association (NMMA), representing the North American recreational boat, engine, and marine accessory manufacturers, reports that retail unit sales of new boats in the US increased in 2023 by an estimated 12.4% compared to 2022. More than 398,000 new recreational boats were sold in 2022. Therefore, the growing boat sales for recreational activities are influencing the growth of the pontoon boat market.

Pontoon Boat Market Regional Insights

The regional trends and factors influencing the Pontoon Boat Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Pontoon Boat Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Pontoon Boat Market Report Scope

Pontoon Boat Market Players Density: Understanding Its Impact on Business Dynamics

The Pontoon Boat Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Pontoon Boat Market are:

1. Aloha Pontoons
2. BRP
3. Floating Terrace
4. Kiwi Kraft Ltd
5. Nazareth Boats
6. Polaris Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

Pontoon Boat Market News and Recent Developments

The Pontoon Boat market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Pontoon Boat Market are listed below:

• Lowe Boats, a leading manufacturer of high-quality, full-featured aluminum boats, today announced bold new styling and a host of premium features for model year 2023 with the launch of the 2023 SF series pontoon boats. With thought and customer insight included in every detail, the SF Series was crafted to perfection to combine fishing and on-the-water recreation in a design that is built to please. New fencing and furniture design, as well as refreshed fishing stations and enhanced storage options, provide exactly what boaters need to take a good day out on the water and make it great.
• . (Source: Company Website, February 2024)
• Crest Marine, LLC., a subsidiary of MasterCraft Boat Holdings, Inc., announced the expansion of its portfolio with the launch of a new, independent luxury pontoon brand, Balise Pontoon Boats (Balise). (Source: Press Release, April 2024)

Pontoon Boat Market Report Coverage and Deliverables

The “Pontoon Boat Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Pontoon boat market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Pontoon Boat market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST and SWOT analysis
• Pontoon boat market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the pontoon boat market
• Detailed company profiles