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Pontoon Boat Market Size, Impacted by COVID-19, to Reach US$ 2.5 Billion in 2025, Says Stratview Research
Pontoon boats are flat-deck boats containing two or more floating hulls or tubes typically powered by an outboard engine. They generally have either square or rectangular shapes, which make them less suitable for choppy or rough water; however, they are widely preferred in lakes where they are used for varied functions, such as entertainment, fishing, and lounging. These boats have large deck space, which adds more seating space, luxury, comfort, extra storage space, and additional room for various activities as per users' interest.
The pontoon boats market has grown tremendously in the past few years. It was among the first in the boating industry to rebound from the downturn in sales caused by the Great Recession (2008). As per our pre-COVID-19 estimates, Stratview Research forecasts indicated that the demand for pontoon boats could hit many untouched landmarks over the next five years, reaching close US$ 3.5-billion-sales figure by 2025. The market was likely to exhibit impressive growth in 2020, compensating the marginal decline faced in 2019.
However, the COVID-19 outbreak has devastated the growth trajectory of the entire boating industry, ruining the tireless efforts of one decade of industry stakeholders. Pontoon boats could not prevent themselves from those tendencies and are estimated to experience a hefty decline of -25.5% on a YoY basis in 2020, crushing the market to below the year 2015-value.
. The market will find some solace with some driving factors including expected growth in the HNWI population, increasing boating participants, increasing share of pontoon boats in the outboard boats, versatile usage of pontoon boats, advancements in the boat engine technology, and higher affordability of pontoon boats. As a result of that,
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Based on the application type . It is expected to be driven by the USA , where there are more boat partying and holiday culture with a high preference of pontoon boats for the same. Fishing is another key application of pontoon boat which also covers a significant share of the total market.
Based on the tube type, , owing to their larger capacity, space, and efficiency coupled with the trend of larger and high-performance boats.
In terms of boat size, . Most of the applications fall under the size range and its excellent affordability has led to the huge dominance across major application verticals.
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In terms of regions, . The USA is the world's largest market for both pontoon boats as well as recreational boats. The country is marked by the presence of many small- to big-sized players serving the market. However, Asia-Pacific is likely to be the fastest-healing region in the market in a post-pandemic scenario. Australia , New Zealand , and China are key countries in the region, generating a considerable market demand.
, and their attractiveness has led to the entry of boating players in the market. After the recession, the sales of pontoon boats were so high that even the established industry players in fiberglass boats also began to enter the pontoon boats market:
. Development of high-performance pontoon boats, expansion of distribution network, regional expansion, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the global pontoon boat market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:
Stratview Research has several high value market reports in the marine and sporting goods industry. Please refer to the following link to browse through our reports:
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