Global Single Deck Boat Market, By Application ( Wakeboard, Fishing, Wakesurf, and Others), Power Source (ICE and Electric) Industry Trends and Forecast to 2031.
Single Deck Boat Market Analysis and Size
The deck boat is designed for speed, and as the name suggests it has maximum deck space for recreational fishing, water sports, and entertainment purposes. Owing to the deck boat’s V-shaped hull, they are easy compared to conventional boats. Deck boats are gaining significant popularity as they enable the operator to have complete control over the boat by offering a stable journey no matter the speed. Further, the growing number of outdoor activities such as recreational fishing and sports fishing activities, is expected to drive the growth of the market.
The global single deck boat market was valued at USD 2.6 billion in 2023 and is expected to reach USD 6.5 billion by 2031, registering a CAGR of 6.5% during the forecast period of 2024-2031. The growing demand for electric deck boats owing to its higher specification & rising preference of eco-friendly boats is expected to propel the segmental growth. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024-2031
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Base Year
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2022
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Historic Years
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2022 (Customizable 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Application ( Wakeboard, Fishing, Wakesurf, and Others), Power Source (ICE and Electric)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, and Rest of Middle East and Africa
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Market Players Covered
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Glastron (U.S.), TAHOE Boats (U.S.), Crownline (U.S.), Hurricane (U.S.), Four Winns (U.S.), and Sea Ray (U.S.)
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Market Opportunities
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Market Definition
Single-deck boats have well-designed layouts that offer generous seating, sun loungers, and amenities such as built-in sinks, coolers, and entertainment systems. They offer an ideal platform for tourists to explore picturesque coastlines and winding rivers, providing a unique and immersive way to discover natural wonders and cultural attractions. Local economies benefit from tourism-driven boating activities and hospitality establishments. Thus, as destinations promote their recreational boating offerings to tourists through marketing campaigns, partnerships, and events, the visibility and appeal of deck boats increase, driving demand and expanding the market.
Single Deck Boat Market Dynamics
Drivers
- Rise in the Popularity of Recreational Activities
There has been a rise in recreational activities, such as fishing and boating, across the globe, which has created rise in demand for deck boats. The advanced features offered by deck boats, such as long shelf life, durability, customization, and environment-friendliness, further attract more customers to use boat for recreational activities.
Opportunity
- Rising Disposable Income Across the Region
A pivotal growth factor is the rise in disposable incomes. With greater financial resources, more individuals and families are investing in leisure and recreational activities, including the acquisition of cross deck boats. The surge in disposable income has increased the number of visitors to amusement parks and influenced consumer behavior in these places. The positive correlation between rising disposable income and heightened attendance rates at amusement parks is undeniable. Thus, an increase in the amount of disposable income drives market growth.
Restraints/Challenges
- High initial & ownership cost of recreational boats
Deck boat construction requires professional workers, which primarily increases the initial manufacturing cost of the boat due to its size and complexity. In addition, the price of an engine equipped in the boat is one of the most direct costs associated with a boat. Deck boats require high-performance engines, and the amount of horsepower will impact the total cost of the boat. Moreover, fittings and extra features, such as extra storage, seating, or custom interiors, increase the initial cost of boats. Furthermore, various costs, such as registration fees, taxes, insurance, mooring or dock fees, regular maintenance, and overhaul maintenance, increase the ownership cost of these boats. Thus, owing to the high initial and ownership cost, low and middle-income groups are unlikely to spend on deck boats, which is restraining the market to an extent.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Single Deck Boat Market Scope
The market is segmented on the basis of application and power source. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Application
- Wakeboard
- Fishing
- Wakesurf
- Others
Power Source
- ICE
- Electric
Single Deck Boat Market Region Analysis/Insights
The market is segmented on the basis of application and power source.
The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, and Rest of the Middle East and Africa.
Asia Pacific is likely to be the fastest-growing and dominates the market due to the rising infrastructure, commercial, and industrial developments in emerging countries such as China and Japan are credited with the market's dominance.
Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Rise in Popularity of Recreational Activities
The market also provides you with a detailed market analysis for every region’s growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the market, the impact of technology using lifeline curves, and changes in battery regulatory scenarios and their impact on the variable frequency drive market.
Competitive Landscape and Single Deck Boat Market Share Analysis
The market is analyzed, and market size information is provided by country, application & power source. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the market
some of the major players operating in the market are:
- Glastron (U.S.)
- TAHOE Boats (U.S.)
- Crownline (U.S.)
- Hurricane (U.S.)
- Four Winns (U.S.)
- Sea Ray (U.S.)
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