The Aluminum Fishing Boat Market is expected to generate USD 2,491.8 million and grow at a CAGR of 7.44% during the forecast period 2021 to 2030 [245-Pages]

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The aluminum fishing boat market is expected to grow by 2030 owing to the growing engagement in outdoor activities like fishing. The deep-V boat sub-segment will be dominant. Market in the Asia Pacific the region should experience better growth opportunities.

NEW YORK, July 27, 2022 /PRNewswire/ — Research Dive has added a new report to its offering titled “Aluminum Fishing Boat Market by Boat Type (Bass Boat, Multi-Species Boat, Deep V Boat and Others), Size ( 16 feet), engine type (300 HP), and regional analysis (North America, Europe, Asia Pacificand LAMEA): Global Opportunities Analysis and Industry Forecast, 2021-2030“.

According to the report, the global aluminum fishing boat market should generate an income of $2,491.8 million by 2030increasing to one CAGR of 7.44% during the forecast period 2021-2030.

Aluminum Fishing Boats Market Dynamics

Drivers: Growing engagement of children in outdoor activities like fishing and growing desire of people to reconnect with nature are the major factors expected to drive the growth of the global aluminum fishing boat market over the period of forecast.

Opportunities: Advances in aluminum fishing boats like lifetime hull warranty, better strength, longevity, increased durability, etc. by the major market players are the major factor predicted to create abundant growth opportunities for the global aluminum fishing boat market by 2030. Additionally, aluminum boats offer 10 times the shear strength compared to to fiberglass boats, thereby driving the growth of the market by 2030.

Constraints: Corrosion of aluminum boats is the major factor hampering the growth of the market.

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Impact of Covid-19 on the Aluminum Fishing Boat Market

The outbreak of the disastrous coronavirus pandemic has negatively impacted the global aluminum fishing boat market owing to the significant decline in the demand for recreational activities. Moreover, travel restrictions and social distancing norms have also reduced the attractiveness of fishing as a sport among people. Additionally, strict import-export bans have also resulted in lack of raw materials required for manufacturing aluminum fishing boats like engine, hull, etc., thus further hampering the growth of the market amidst the catastrophic stress.

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Aluminum Fishing Boat Market Segments

The report has segmented the aluminum fishing boat market into several segments on the basis of boat type, size, engine type and regional analysis.

  • By boat type, the deep-v boat sub-segment is expected to have a dominant market share over the analysis period owing to its high popularity among anglers. Deep-V aluminum boats perform well in choppy weather and can easily go farther offshore. Additionally, these boats are easier to control even at slow speeds and have a pointed bow that slices forward to provide a fantastic driving experience even in turbulent waves. These factors are expected to support the growth of the sub-segment through 2030.
  • Based on the size, the 14 to 16 foot sub-segment is estimated to hold a major market share over the years of analysis. This growth rate is attributed to the ability of these mid-sized boats to navigate hard waters and their durability. In addition, boats 14 to 16 feet long are stronger, lighter and can easily accommodate several people. Additionally, these boats are more affordable than fiberglass ones, thus propelling the growth of the sub-segment by 2030.
  • By engine type, the
  • By region, the aluminum fishing boat market in Asia Pacific the region is expected to have the fastest growth rate over the years of analysis. Fishing is a hobby as well as a celebrated sport in Japan which contributes significantly to the country’s commercial fishing industry. In addition, india the vast coastline, which stretches for about 8,000 km, contributes more than 10% of the world’s fish biodiversity. These factors are expected to drive the growth of the market in the Asia Pacific region by 2030.

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Aluminum Fishing Boat Market Key Players

Some Key Aluminum Fishing Boat Market Players Include

  1. Yamaha Motor Co., Ltd.
  2. Brunswick Society
  3. BRP
  4. Proper craftsmanship
  5. Smoker Craft Inc.
  6. White River Marine Group
  7. UMS boats
  8. MirroCraft
  9. legendary boats
  10. Bennington Pontoon Boats among others.

These key players are undertaking various strategies, such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the market growth. – Inquire here before purchasing the full report

For instance, in December 2021Yamaha Motor Co. Ltd., a Japanese motorcycle manufacturer, announced its acquisition of Siren Marine Inc., a US-based industry leader in marine IoT products, to accelerate the development of the connected boat and IoT to support the marine industry.

The report also summarizes many significant facets including financial performance of key market players, SWOT analysis, product portfolio, and latest strategic developments.

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About research diving

Research Dive is a market research company based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides services solely based on its proprietary data model, constrained by the 360-degree research methodology, which guarantees complete and accurate analysis. With unparalleled access to several paid data resources, a team of expert researchers and a strict work ethic, the company offers extremely accurate and reliable information. By reviewing relevant press releases, government publications, decades of business data, and technical and white papers, Research Dive delivers the required services to its clients in a timely manner. His expertise is focused on examining niche markets, targeting their key driving factors and spotting threatening obstacles. Complementarily, he also maintains seamless collaboration with leading industry enthusiasts, which provides an added edge to his research.

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