DUBLIN, February 04, 2022–(BUSINESS WIRE)–The “Pontoon Boat Market Forecast to 2028 – Impact of COVID-19 and Global Analysis” report has been added to from ResearchAndMarkets.com offer.
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% over the period 2021-2028.
The pontoon boat market is constantly changing. Whether it is a simple square floating boat or a pleasure boat loaded with luxury, pontoon boats provide a relaxing experience for individuals for invigorating thrill rides. Pontoon boats are used for different purposes such as swimming, cruising and water sports as well as lounging.
For recreational activities, such as skiing, wakeboarding and tubing, the boats are equipped with tows and storage lockers large enough to hold water skis or kneeboards, as well as swim platforms with large, stable ladders for getting on and off the boat. Pontoon boats are flat deck boats powered by an outboard motor. These boats have square/rectangular shapes which make them ideal for choppy/rough water.
Pontoon boats are also widely used in lakes for entertainment, relaxation and fishing purposes. These boats have a large deck space, which adds more seating space; additional storage space; and luxury, comfort and additional space for different activities depending on the interest of the users.
Growing boating industry, especially recreational boating across the globe is driving the growth of pontoon boat market. Moreover, the increase in sales of deck and pontoon boats due to the increase in the number of passengers for water sports and recreational activities will play a magnificent role in generating the demand for pontoon boats.
Moreover, with the emergence of IoT-based applications, the trend of real-time tracking and smart boat is accelerating. The integration of IoT in pontoon boats is expected to create lucrative business opportunities for pontoon boat manufacturers and suppliers in the coming years.
However, the low speed and inefficient performance of pontoon boats on rough waters is restraining the growth of the pontoon boat market.
Based on type, the pontoon boat market is segmented into bar boat, stern lounge, quad seats, bow and double deck models. In 2020, the rear lounge segment dominated the market, accounting for the largest share. Based on tube type, pontoon boat market is divided 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, dual engine and electric motor. In 2020, the dual engine segment accounted for the largest market share. Based on size, the market is segmented into under 20ft, 20-30ft and over 30ft. In 2020, the 20-30 foot segment accounted for the largest market share.
Based on application, the pontoon boat market is segmented into fishing, water sports, leisure, and others. In 2020, the recreational segment accounted for the largest market share. In 2020, North America accounted for the major share of the global market.
Key Market Dynamics
Kiwi Kraft Ltd.
Sun Tracker Boats
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See the source version on businesswire.com: https://www.businesswire.com/news/home/20220204005380/en/
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