DUBLIN--(BUSINESS WIRE)--The "Pontoon Boat Market Forecast to 2028 - COVID-19 Impact and Global Analysis" report has been added to ResearchAndMarkets.com's offering.
The global pontoon boat market is expected to grow from US$ 2,132.97 million in 2021 to US$ 4,089.97 million by 2028; it is estimated to grow at a CAGR of 9.7% during 2021-2028.
The pontoon boat market is experiencing evolution constantly. From being a simple boxy floating boat to a luxury-laden pleasure-boat, pontoon boats provide 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 the 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; and luxury, comfort, and additional room for different activities according to users' interest.
The growing boating industry, especially recreational boating across the globe, drives the growth of the pontoon boat market. Also, rise in the sales of deck and pontoon boats due to the rising passengers for watersports & 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 boat 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.
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 share. 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 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. In 2020, North America accounted for the significant share in the global market.
Key Market Dynamics
Market Drivers
- Growing Inclination Toward Recreational Boating Industry
- Rising Global Tourism Industry
Market Restraints
- Low Speed of Pontoon Boats
Market Opportunities
- Development in Pontoons to Create Lucrative Opportunities for Pontoon Boats Manufacturers
Future Trends
- Emergence of New Pontoon Boats
Companies Mentioned
- Aloha Pontoons
- Kiwi Kraft Ltd.
- Nazareth Boats
- Polaris Inc.
- Swiss-Boats AG
- BRP
- Sun Tracker Boats
- Pontoonboot
- Sea-And-Yachting.Com
- Floatingterrace.Eu
For more information about this report visit https://www.researchandmarkets.com/r/eo1840
