Dublin, Nov. 26, 2019 (GLOBE NEWSWIRE) -- The "Ski and Wake Boat Market Size, Share, Trend, Forecast, & Competitive Analysis: 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The performance of the recreational boating industry is highly dependent upon the performance of the USA's market, as the country is the largest demand generator of recreational boats globally. The recreational boat market has been marking positive growth since 2010 and is anticipated to cross the peak figure of 2008 very soon. Major players are resorting to inorganic growth strategies in order to position themselves better in the market, which, in turn, is leading to a greater market concentration.
The global ski and wake boat market size is projected to grow at a healthy rate over the next five years to reach US$ 1.94 billion in 2024.
An increasing number of participants in outdoor activities, growing new powerboat sales, increasing HNWI population, and increased affordability of recreational boats are major growth propellers of the ski and wake boat market.
Ski and Wake Boat Market Share Analysis
Insights by Boat Type
The market is segmented based on boat type as wakeboard boat, wake surf boat, and ski boat. Wakeboard boat is expected to remain the growth engine of the market during the forecast period. The decrease in fuel prices, attractive boat layout, and new designs of boats are the key factors propelling the demand for wakeboard boats in the industry.
Insights by Type of Hull Material
Based on the hull material type, the market is segmented as fibreglass boats and aluminium boats. Fibreglass boat is likely to remain the larger and the faster-growing segment of the market in the coming five years. The demand for fibreglass boat type is largely driven by the materials' excellent properties such as excellent strength-to-weight ratio, incombustibility, high electrical insulating property, and low susceptibility to moisture.
Regional Insights
Based on regions, North America is expected to remain the largest ski and wake boat market during the forecast period with the USA being the growth engine. The country is expected to maintain its supremacy not only in the North American market but also in the global market as well. All major recreational boat manufacturers have a widespread presence in all the major markets in the USA in order to better penetrate the market. Europe also holds a considerable share in the market with France, Germany, and the UK being the key demand generators in the region. Asia-Pacific is a relatively small market but will exhibit excellent growth rate in years to come, largely driven by New Zealand, Australia, and China.
Key Players
The supply chain of this market comprises raw material suppliers, tier players, ski and wake boat manufacturers, distributors, and end-users. The global ski and wake boat market is highly consolidated with the presence of few boat manufacturers including Malibu Boats Inc., Mastercraft Boat Holdings Inc., Correct Craft Inc., and Skier's Choice Inc. capturing lion's share. Development of high-performance and valuable ski and wake boats, expansion of distribution network in untapped markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
The market is segmented in the following ways:
Ski and Wake Boat Market Size, Share & Forecast by Boat Type:
- Wakeboard Boats
- Wakesurf Boat
- Ski Boat
Ski and Wake Boat Market Size, Share & Forecast by Hull Material Type:
- Fiberglass Boat
- Aluminum Boat
Ski and Wake Boat Market Size, Share & Forecast by Region:
- North America (Country Analysis: The USA and Canada)
- Europe (Country Analysis: France, Germany, The UK, and RoE)
- Asia-Pacific (Country Analysis: Australia, New Zealand, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, The Middle East, and Others)
Report Features
After publishing several studies on niche subjects including recreational fibreglass boat market, aluminium fishing boat market, pontoon boats market, marine composite materials market, and epoxy resin market in marine composite, we have further expanded our research scope with the addition of new report on yet another high growth market - ski and wake boat.
This report forecasts the ski and wake boat market for the period 2019 to 2024 in terms of value and units; at the global, regional, and country-level. The report segments and analyzes the market in the most comprehensive manner to provide a 360-degree view of the market. The vital information provided in the report can play a crucial role in the market participants as well as investors in the identification of attractive market segments as well as the formulation of growth strategies.
The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
Company Profiles of Key Players
- Brunswick Corporation
- Correct Craft Inc.
- Groupe Beneteau
- Malibu Boats Inc.
- Marine Products Corporation
- Mastercraft Boat Holdings Inc.
- Monterey Boats
- Skier's Choice Inc.
- Yamaha Motor Company Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/xhvdaw
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