Asia Pacific Charts a Course for Significant Growth in the Global Small Boat Market, Fueled by Booming Tourism and Government Support

Dublin, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The "Small Boat Market 2022-2028" report has been added to's offering.

The global small boat market is anticipated to grow at a considerable CAGR of 3.7% during the forecast period. The growing people's interests in recreational and competitive boating activities are the major driving factor for market growth. The technical advancement and introduction of connected boats are expected to fuel the market growth during the forecast period.

The global small boat market is segmented based on product and application. Based on the product, the market is segmented into powered boats, sailboats, personal watercraft, and others. Based on the application, the market is sub-segmented into leisure, fishing, defense, and others. The above-mentioned segments can also be customized as per the requirements.

Geographically, the global small boat market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific will show significant growth in the small boat market with the rising governmental support for the development of tourism in the region. India has immense potential for boat tourism with its 7,516 km long coastline and 1,382 islands. Additionally, more than 400 rivers are floating in different parts of the country in which a huge crowd of domestic tourists comes for spiritual rituals that generate huge opportunities for boat leisure. As per the data released by the Indian government, 4.5 lakh tourists enjoyed the cruise services during FY 2019-20. This tourist count was raised from 1 lakh in 2014 to this level.

The major companies serving the global small boat market include Yamaha Motor Corp., Mastercraft Boat Co., Brunswick Corp., Sunseeker International, Ferretti, Marine Products Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, Correct Craft announced an investment of $1.7 million in January 2021, to establish a manufacturing facility in Valdosta which will produce wakeboarding and wake surfing boats.

Market Segmentation

  1. Global Small Boat Market Research and Analysis by Product.
  2. Global Small Boat Market Research and Analysis by Application.

The Report Covers

  • Comprehensive research methodology of the global small boat market.
  • This report also includes a detailed and extensive market overview with key analyst insights.
  • An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
  • Analysis of regional regulations and other government policies impacting the global small boat market.
  • Insights about market determinants that are stimulating the global small boat market.
  • Detailed and extensive market segments with the regional distribution of forecasted revenues.
  • Extensive profiles and recent developments of market players.

Key Topics Covered:

1. Report Summary

2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion

3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players

4. Market Segmentation
4.1. Global Small Boat Market by Product
4.1.1. Powered Boat
4.1.2. Sail Boat
4.1.3. Personal Watercraft
4.1.4. Others
4.2. Global Small Boat Market by Application
4.2.1. Leisure
4.2.2. Fishing
4.2.3. Defense
4.2.4. Others

5. Regional Analysis

6. Company Profiles
6.1. Azimut Benetti
6.2. Bavaria Yachbau
6.3. Brunswick Corp.
6.4. Ferretti
6.5. Groupe Beneteau
6.6. Malibu Boats Inc.
6.7. Marine Products Corp.
6.8. Mastercraft Boat Co.
6.9. Sunseeker International
6.10. Yamaha Motor Corp.

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