Consumer Inclination towards Fishing as Leisure Activity Calls for Adoption of Pontoon Boat
Pontoon boat is built on a flat deck and is equipped with two or three interconnected tubes also known as pontoon which enables the boat to float. Pontoon boat has gained momentum from multiple applications for recreational purposes, fishing or sporting activities. Thus, increasing consumer inclination towards leisure activities among all kinds of people is foreseen to support the growth of the market. In addition, the pontoon boat is more spacious than any other motorboat, in turn, having plenty of storage space coupled with higher seating capacity.
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Moreover, the pontoon boat manufacturers are focusing on working closely with their customers in order to offer customizable boats such as integrating the boat with Bluetooth speakers, additional seating, or even inflatable water slides. This is enabling the key player to remain competitive in the market by focusing on offering a tailor-made solution to their customers. In addition, pontoon boat is suitable for freshwater fishing as well as saltwater fishing under certain conditions which makes it a preferred for fishing aficionados as they can be integrated with swiveling fishing seats, rod holders, and livewells among others. This is anticipated to raise the sales of pontoon boat during the forecast period.
COVID-19 Impact on the Global Pontoon Boat Market
The COVID-19 outbreak has ushered in a host of challenges to the pontoon boat market due to the closure of plants in major countries for a prolonged period. The prime concern for pontoon boat players is the declining production of boat in developed and developing economies which have adversely affected industries. Further, owing to the pandemic caused, users are avoiding to leave their house for non-essential activity, which in turn, is expected is to hinder the sales of new pontoon boat.
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However, to overcome the challenges posed by COVID-19 manufacturers are focusing on increasing product innovation and keeping consumers requirement in mind will lead to increased demand from anglers for hassle-free fishing experience. This is expected to bolster the demand for pontoon boat during the forecast period. At the same time, manufacturers are determining ways to tackle the situation by ensuring lesser lead time for delivery to influence the sales, perhaps creating demand for pontoon boat.
Pontoon Boat Market: Market Segmentation
For a better understanding, global pontoon boat market is being studied under tube type, size, application & region.
Based on the tube type, the Pontoon boat market can be segmented as:
- Two-Tube Pontoon
- Three-Tube Pontoon
Based on the size, the Pontoon Boat market can be segmented as:
- Less than 20 Feet
- 20-24 Feet
- Above 24 Feet
Based on the application, the Pontoon boat market can be segmented as:
Based on the region, the Pontoon Boat market can be segmented as:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)
Regional Analysis: North America and Europe to Bolster the Demand for Pontoon Boat
North America & Europe is foreseen to grow at a significant rate during the forecast period. The pontoon boat manufacturers are innovating their portfolio in order to keep the demand alive and consumer’s interest intact. For instance, they are integrating GPS, Bluetooth connectivity, swiveling fishing seats and other features to strengthen the product demand. This is expected to bolster the demand for pontoon boat in the region.
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However, the high spread of COVID-19 is estimated to decrease the demand for pontoon boat in both regions. Thus, concentrating on local supply contracts is expected to prove beneficial in long term to the manufacturers. While multiple market leaders are present in North America & Europe, but new players will not enter in the market in the short term forecast owing to the COVID-19 pandemic. This, in turn, is expected to hinder the growth of the market in the near term.
Global Pontoon Boat Market Competitive Landscape
The pontoon boat market is fragmented with the presence of a large number of local and regional players. Some of the prominent players in the Brunswick Corporation, Polaris Industries, White River Marine Group, Sun Tracker, , Tahoe, Smoker Craft, Silver Wave, , Avalon Pontoon Boats, Larson Escape, Crest Marine LLC, Manitou Pontoon Boats and JC TriToon Marine, among others.
Leading pontoon boat manufacturers are continuously involved in new product developments or advancements in their existing product portfolio to gain a competitive advantage in the market. For instance, in 2020, Sun Tracker introduced its new pontoon recreational boat “Party Barge 20 DLX”. The newly launched boat has seating capacity up to 10 crew and is also equipped with Bluetooth stereo.
The research report presents a comprehensive assessment of the Pontoon Boat Market and contains deep insights, facts, historical and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Pontoon Boat Market segments such as by tube type, size, application & region.
The Pontoon Boat Market report covers exhaustive analysis on:
- Pontoon Boat Market Segments
- Pontoon Boat Market Dynamics
- Pontoon Boat Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis for Pontoon Boat Market includes:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, U.K., Spain, Germany, Rest of Europe)
- East Asia (China, Japan & South Korea)
- South Asia & Oceania (India, Malaysia, Thailand, Indonesia, Australia & Rest of South Asia & Oceania)
- Middle East and Africa (GCC Countries, Turkey, South Africa, & Rest of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Pontoon Boat Market segments and geographies.
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