New York, NY, March 26, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Boat Market by type (Pleasure boat, Fishing boat, Commercial boat, and Military boat): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, the global boat market was valued at around USD 24,243.5 million in 2016 and is expected to reach approximately USD 42,046.3 million by 2022, growing at a CAGR of 9.7% between 2017 and 2022.
Boats are the watercraft traditionally used for transportation through sea, river, and lakes. Over the years the boating industry has evolved in a great way, extending a scope of boat applications in various fields including military, tourism, fishing, and import-export. Boats are available in different sizes, shapes, and designs depending upon the purpose of their application.
Browse through 89 Tables & 18 Figures spread over 110 Pages and in-depth TOC on "Global Boat Market: Industry Size, Share, Growth Analysis and Forecast 2016 – 2022”.
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The global boat market is expected to witness significant growth within the forecast period. The market is mainly driven by increasing disposable income, the growing trend of recreational activities, and innovative developments in the global tourism industry. Besides this, there are some restraining factors for the boat market, including labor-intensive manufacturing processes, government rules and regulations regarding environmental safety, and increasing cost of raw materials.
The North America boat market is expected to exhibit significant growth with the revenue market share value of 32.96% in 2016. This is mainly due to the continuously improving housing market and consumer spending. In turn, it is expected to boost the boat market growth during the forecast period.
Browse the full "Boat Market by Type (Pleasure boat, Fishing boat, Commercial boat, and Military boat): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022" report at https://www.zionmarketresearch.com/report/boat-market
Europe is another major market after North America and is anticipated to witness extensive growth during the forecast period. Growing demand for luxury cruisers and increasing number of leisure ports are the factors driving the growth of the boat market in Europe.
Asia Pacific is another promising region for the global boat market and is expected to exhibit noteworthy growth during the forecast period. Growing interest for boat riding among the people, especially from India and China fuels the growth of the boat market in Asia Pacific region.
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The Latin America boat market is expected to witness moderate growth in the near future with the CAGR of 8.94% during the forecast period. Rising middle-class population, tropical weather, beautiful beaches and approx. The 3400 km coastline in Brazil are the factors driving the growth of the boat market in Latin America.
The Middle East and Africa boat market are expected grow at a modest rate during the forecast period. Kuwait, Qatar, and the UAE are the dominating countries in the Middle East boat market with the boats of improved quality and design. Innovative and adaptive technologies used in boat production fuels the growth of the boat market in the Middle East and Africa.
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The global boat market is consolidated, with the key players accounting for a majority of the market share in 2016. The major companies in global boat market are Willard Marine, South Boats IOW, Fassmer, HiSiBi, Asis Boats, LOMOcean Design, SAFE Boats, Maritime Partner AS, Sunbird Yacht, FB Design, BCGP, Alutech, Connor Industries, MARINE, and PALFINGER.
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This report segments the global boat market as follows:
Global Boat Market: Product type Analysis
- Pleasure Boat
- Cuddy
- Deck
- Pontoons
- Others
- Fishing Boat
- Convertible Fishing Boat
- Bass Boat
- Bay Boat
- Bowrider
- Others
- Commercial Boat
- Charter Boats
- Airboats
- Houseboats
- Others
- Military Boat
Global Boat Market: Regional Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East and Africa
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