The pontoon boat market size is projected to reach US$ 5,324.20 million by 2031 from US$ 2,561.17 million in 2023. The market is expected to register a CAGR of 9.5% during 2023–2031. The increasing number of consumers pending outdoor recreational activities across the globe is driving the trend in the market.
Pontoon Boat Market Analysis
The increasing general use of deck and pontoon boats is expanding their adoption exponentially. Therefore, to attract individuals, developments in pontoon boats are taking place. Below are a few of the instances of the same:
In 2021, BRP, a leader in personal watercraft with their Sea-Doo brand, has now showcased a 2022 Sea-Doo Switch (an expansion in the line of Sea-Doo). It is an all-new pontoon boat offering incredible versatility and stability of the pontoon platform. The quick-change deck design can be completely reconfigured to suit the needs of a single fishing trip, family picnic, and wakeboard session. Also, the new Manitou portfolio continued the BRP's tradition of offering incredible on-water experiences for family and friends. Manitou has unveiled its model year 2022 line-up, which adds more power and premium features to a line-up of performance, luxury, and leisure pontoon boats, which is already excellent.
Pontoon Boat Market Overview
The pontoon boat market is constantly experiencing evolution. From being a simple boxy floating boat to a luxury-laden pleasure boat, a pontoon boat provides a relaxing experience to individuals for invigorating thrill rides. Pontoon boats are used for different purposes such as swimming, cruising, and watersports, as well as for lounging. For recreational activities, such as skiing, wakeboarding, and tubing, the boats have tow-bits and storage lockers, which are large enough to hold water skis or kneeboards, and swim platforms with large and stable ladders for climbing on/off the boat. Pontoon boats are flat-deck boats powered by an outboard engine. These boats have square/rectangular shapes that make them ideal for choppy/rough water. The pontoon boats are also broadly used in lakes for entertainment, lounging, and fishing purposes. These boats have large deck space that adds more seating space, extra storage space, luxury, comfort, and additional room for different activities according to users' interests.
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Pontoon Boat Market: Strategic Insights
Market Size Value in US$ 2,132.97 million in 2021 Market Size Value by US$ 4,089.97 million by 2028 Growth rate CAGR of 9.7% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Pontoon Boat Market: Strategic Insights
| Market Size Value in | US$ 2,132.97 million in 2021 |
| Market Size Value by | US$ 4,089.97 million by 2028 |
| Growth rate | CAGR of 9.7% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Pontoon Boat Market Drivers and Opportunities
The rising boating industry at a rapid pace drives market growth.
The growing boating industry, especially recreational boating across the globe, drives the growth of the pontoon boat market. Also, a rise in the sales of deck and pontoon boats due to the rising number of passengers for water sports & recreational activities will play a magnificent role in generating demand for pontoons. Moreover, with the emergence of IoT-based applications, the trend of real-time tracking and smart boats is picking up its pace. The integration of IoT in pontoon boats is expected to create lucrative business opportunities for pontoon boat manufacturers and providers in the coming years. However, the low speed and inefficient performance of pontoon boats on rough water restrain the growth of the pontoon boat market.
Rising Global Tourism Industry
The tourism industry across the globe is increasing rapidly. According to the latest figures published by the UNWTO, in July 2021, almost 54 million international tourists traveled worldwide. This is the highest figure recorded since the beginning of the health crisis that brought the global tourism industry to a virtual standstill for many months. This figure also represents an increase of around 58% compared to the 34 million international tourists in July 2020. Additionally, according to the World Travel and Tourism Council, Saudi Arabia is expected to reach 22.1 million in international arrivals by 2025, nearly 40% higher than Dubai's current visitors.
Further, the World Tourism Organization forecasts that South America will receive 78.2 million tourists by 2027, generating US$ 82 billion for the local economy. In addition, countries such as UAE, Australia, the US, Canada, Brazil, Italy, France, Germany, India, and China are among the prominent tourist destinations. Thus, the growing tourism industry in these destinations increases recreational sailing and water sports activities. For instance, the snowballing effect of domestic and international tourist footfall in European countries is massively contributing to the recreational boating industry.
Pontoon Boat Market Report Segmentation Analysis
- Key segments that contributed to the derivation of the pontoon boat market analysis are the basis of type, tube type, propulsion type, size, application, and countries.
- Based on type, the market is segmented into bar boat, rear lounge, quad seating, arch models, double decker, and others. The rear lounge segment held the largest market share in 2020 because these types of pontoons easily accommodate several individuals. In terms of tube type, the pontoon boat market is bifurcated into the double tube and triple-tube. In 2023, the triple tube segment held the largest market share. As three-tube pontoons are more stable and generally have larger engines with higher horsepower, these are widely used among passengers.
- Based on propulsion type, the market is segmented into single-engine, double-engine, and electric motors. The market for the double engine segment held the largest market share in 2023.
- Based on size, the pontoon boat market is segmented into less than 20 feet, 20–30 feet, and more than 30 feet. The 20-30 feet size dominated the market in 2023 and held the largest share as boats of these ranges can easily accommodate up to 10-13 passengers.
- The pontoon boat market, by application, is segmented into fishing, watersports, recreational, and others. Recreational application held the largest market share in 2023 as demand among individuals for cruising is increasing in global countries.
Pontoon Boat Market Share Analysis by Geography
The geographic scope of the Pontoon Boat market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America is expected to have the largest share in 2023. This is owing to the increasing demand for recreational boats. The National Marine Manufacturers Association (NMMA), representing the North American recreational boat, engine, and marine accessory manufacturers, reports that retail unit sales of new boats in the US increased in 2023 by an estimated 12.4% compared to 2022. More than 398,000 new recreational boats were sold in 2022. Therefore, the growing boat sales for recreational activities are influencing the growth of the pontoon boat market.
Pontoon Boat Market Report Scope
Pontoon Boat Market News and Recent Developments
The Pontoon Boat market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Pontoon Boat Market are listed below:
- Lowe Boats, a leading manufacturer of high-quality, full-featured aluminum boats, today announced bold new styling and a host of premium features for model year 2023 with the launch of the 2023 SF series pontoon boats. With thought and customer insight included in every detail, the SF Series was crafted to perfection to combine fishing and on-the-water recreation in a design that is built to please. New fencing and furniture design, as well as refreshed fishing stations and enhanced storage options, provide exactly what boaters need to take a good day out on the water and make it great.
- . (Source: Company Website, February 2024)
- Crest Marine, LLC., a subsidiary of MasterCraft Boat Holdings, Inc., announced the expansion of its portfolio with the launch of a new, independent luxury pontoon brand, Balise Pontoon Boats (Balise). (Source: Press Release, April 2024)
Pontoon Boat Market Report Coverage and Deliverables
The “Pontoon Boat Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Pontoon boat market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Pontoon Boat market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Pontoon boat market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the pontoon boat market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Tube Type, Propulsion Type, Size, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, Finland, France, Germany, India, Italy, Japan, Mexico, Norway, Russian Federation, Saudi Arabia, South Africa, South Korea, Spain, Sweden, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America is expected to dominate the pontoon boat market in 2023.
The rising boating industry at a rapid pace drives market growth
Increasing consumer spending on outdoor recreational activities across the globe is driving the trend in the market.
Aloha Pontoons, BRP, Floating Terrace, Kiwi Kraft Ltd, Nazareth Boats, Polaris Inc., Pontoon Boot, Sea and Yachting, Sun Tracker Boats, and Swiss Boats AG.
The pontoon boat market size is projected to reach US$ 5324.20 million by 2031 from US$ 2,561.17 million in 2023.
The market is expected to register a CAGR of 9.5% during 2023–2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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