The Business Research Company’s global market reports provide comprehensive analysis on the various markets in 27 industries across 60 geographies.

As per The Business Research Company’s Small Boats Global Market Report 2023, The global small boats market is expected to grow from $31.20 billion in 2022 to $35.16 billion in 2023 at a compound annual growth rate (CAGR) of 12.70%. The global small boats market size is expected to reach $55.60 billion in 2027 at a CAGR of 12.14%.

What was the major driver in the small boats market?

The rapid expansion of fishing activities is projected to drive the growth of the small boat industry in the future. The act of catching fish or other aquatic animals for food, sport, or commercial purposes is referred to as fishing activities. Small boats are useful for fishing in shallow seas since they are frequently less expensive to run and maintain than larger ones. For example, according to the Marine Management Organisation, a UK-based non-departmental public body of the Department for Environment, Food, and Rural Affairs, UK ships landed 652 thousand tonnes of sea fish worth £921 million ($1 billion) in 2021, a 5% and 11% increase in quantity and value over 2020. As a result, the rapid expansion of fishing activities is driving the expansion of small businesses.

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What was the key trend in the small boats market?

Technological developments are a major trend that is gaining traction in the small boat sector. Companies in the small boat sector are embracing new technologies such as the Internet of Things (IoT) to maintain their market position. For example, Radian IoT Inc., a big data firm based in the United States, announced the Radian M2 device and SaaS platform equipped with IoT technology for remote monitoring of boats in August 2022. The device transmits data to a mobile device or a cloud-based platform using IoT technology, allowing boat owners and operators to remotely monitor their vessels and make informed decisions about navigation, maintenance, and other aspects of boat operation to improve safety, efficiency, and performance. Furthermore, the SaaS platform allows customers to view this data in real time as well as access past data and analytics.

Which was the largest region in the small boats market?

Asia-Pacific was the largest region in the small boats market in 2022. The regions covered in the global small boats market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Who are the small boats market prominent players?

Major players in the small boats market are Beneteau Group SA, Marine Products Corporation, Brunswick Corporation, MasterCraft Boat Company LLC, Malibu Boats Inc., Yamaha Motor Co Ltd., Sunseeker International, Ferretti Group, Crestliner Inc., Porter Inc., Grady-White Boats Inc., Bavaria Yachtbau GmbH, Azimut Benetti S.p.A., Sea Ray Boats Inc., S2 Yachts Inc., Seabring Marine Industries Inc., and Correct Craft Inc. The countries covered in the small boats market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA,

Key small boats market segments

The global small boats market is segmented –

1) By Product Type: Powered Boat, Sail Boat, Personal Watercraft, Other Products

2) By Material: Fiberglass, Metal, Wood, Inflatable, Other Materials

3) By Application: Pleasure, Fishing, Defense, Other Applications

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The Small Boats Global Market Report 2023  provides a comprehensive overview on the small boats market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

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