Recreational Boating and Sports Fishing Trend to Spur the Demand for Deck Boat Market
Deck boat is designed for speed and as the name suggest 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 to operate and control as compared to the conventional boat. Deck boat is gaining significant popularity as they enable the operator to have complete control over the boat by offering stable journey no matter what the speed is. Further, with the growing number of outdoor events such as recreational fishing and sports fishing activities is expected to drive the growth of deck boat market.
Moreover, the deck boat has the ability to offer a choice of either outboard or stern drive which makes it an ideal choice among the consumers as compared to a pontoon boat. However, the cost of deck boat is comparatively high as compared to its counterpart, which in turn, might hinder the growth of the market. With the growing trend of fishing as a recreation activity particularly in North America and Europe region, manufacturers are focusing on manufacturing new deck boat specifically designed for fishing by adding storage and fishing equipment. This, in turn, is expected to support the growth of the deck boat market during the forecast period.
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COVID-19 Impact on the Global Deck Boat Market
The COVID-19 pandemic has raised several challenges for the boat manufacturers owing to the closure of plants in major countries like US, UK, Germany, and among others. The major concern for the players is the declining production of boats in key countries, which in turn, is affecting the boat industry as a whole. North America & Europe being the prime region for deck boat will see a maximum fall in the sales as these are widely affected regions and a significant market for deck boat.
Moreover, several regatta’s and fishing activities around the globe are cancelled owing to the lockdown imposed, thereby, hampering the sales of deck boat. However, the manufacturers are optimistic that once the lockdown is lifted consumers will prefer spending time with family and friends due to the increasing lifestyle. This, in turn, is anticipated to increase the sales of deck boat during the forecast period.
Deck Boat Market: Market Segmentation
For a better understanding, global Deck boat market is being studied under boat size, application & region.
Based on the size, the Deck Boat market can be segmented as:
- Less than 20 Feet
- 20-24 Feet
- Above 24 Feet
Based on the application, the Deck boat market can be segmented as:
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Based on the region, the Deck Boat market can be segmented as:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)
Regional Analysis: Developed Countries to Foster the Growth of Deck Boat Market
Developed countries in North America and Europe like US, Germany, Netherland, Spain, and UK among other countries are poised to witness significant growth in the deck boat market. However, in the current scenario, the global economy is showing a downward trend due to global pandemic especially in these developed regions, thereby, slowing the growth of deck boat market. However, post coronavirus related lockdown in several countries, the demand for deck boat will swiftly on back of consumer inclination towards recreational boating, fishing, and even with the growing trend for boat parties.
Moreover, manufacturers are focusing on improving the performance of the deck boat by installing high power engines as consumers in the region are demanding high powered boat. Such factors are anticipated to contribute to the growth of deck boat market in the region. On the other hand, Australia and New Zealand is further anticipated to create ample opportunities for players operating in the deck boat market owing to the higher consumer spending and rising trend of recreational and sports in these countries.
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Global Deck Boat Market Competitive Landscape
The deck boat market is fragmented with large number of players. Some of the prominent players are Bayliner, Bryant Boats, Caravelle Boat Group, Chaparral Boats, Polaris Inc., Concept Boats, Crownline Boats, Ebbtide Corporation, Four Winns, Ganz Boats, Rec Boat Holdings, LLC Glastron, Brunswick Corporation, and NauticStar Boats, among others
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