The global aluminum fishing boat market size was US$ 1.4 billion in 2021. The global aluminum fishing boat market size is forecast to reach US$ 2.5 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.44% during the forecast period from 2022 to 2030.
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In the sea, on a lake, or in a river, fishermen use boats called “fishing boats” to capture fish. With the use of shipyard welding technology, aluminum boats are built with a higher level of quality. In addition to having a lifetime hull warranty and being more durable than fiberglass, aluminum has nearly ten times the shear strength. These boats are sturdy and have some cutting-edge features, including better fuel efficiency. Additionally, aluminum fishing boats have cutting-edge qualities, including high shelf life, durability, customizability, and environmental friendliness. While fiberglass fishing boats are typically utilized for sea fishing, aluminum fishing boats are preferred for freshwater fishing.
The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. Due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
Factors Influencing Market Growth
The rising demand for fishing globally and increasing awareness about the health benefits associated with seafood drives the global market.
The growing popularity of outdoor activities, such as boating and fishing boosts the global market growth.
The accessibility of alternate products such as fiberglass boats and steel-based boats & ships and the erosion effect of saltwater on the aluminum fishing boat may slow down the overall market growth.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Several governments worldwide imposed a lockdown in order to curb the virus from spreading. Additionally, travel limitations, social distance norms, and stay-at-home requirements, for instance, have all diminished the appeal of fishing as a sport. Due to their fear of contracting the COVID-19 virus, people have also avoided traveling and engaging in outdoor activities. As a result, the market for aluminum fishing boats decreased as recreational activities, including water tourism, fishing, and other activities were severely restricted.
Regional Insights
The Asia Pacific region accounted for the highest market share in 2021 and is forecast to remain dominant over the forecast period. As a result of the growing fishing and aquaculture sector, recreational activities like boating are the leading drivers of market growth. For instance, Japan’s commercial fishing business has been around for many years because of the country’s love of seafood.
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Leading Competitors
The leading prominent companies profiled in the global aluminum fishing boat market are:
Yamaha Motor Co., Ltd.
Brunswick Corporation
Bombardier Recreational Products
Correct Craft
Smoker Craft Inc.
White River Marine Group
UMS Boats
MirroCraft
Legend Boats
Bennington Pontoon Boats
Other Prominent Players
Scope of the Report
The global aluminum fishing boat market segmentation focuses on Boat Type, Size, Engine Type, and Region.
Segmentation based on Boat Type
Bass Boat
Multi-species Boat
Deep-V Boat
Others
Segmentation based on Size
<14 Feet
14-16 Feet
>16 Feet
Segmentation based on Engine Type
<200 HP
200-300 HP
>300 HP
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key questions answered in the global market report are:
— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?
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