Pontoon Boat Market Share, Technology, Trends and Forecast 2021-2028
Posted by mahesh on October 4th, 2022
According to our latest market study on “Pontoon Boat Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Tube Type, Propulsion Type, Size, and Application,” the market was valued at US$ 2,132.97 million in 2021 and is projected to reach US$ 4,089.97 million by 2028; it is expected to grow at a CAGR of 9.7% from 2021 to 2028.
In the era of constant technological developments, the boating industry is also witnessing a wave of smart technologies. The pontoons boat market is executing technologies to attract individuals. The pontoon manufacturers are working on an aspect to give pontoon boats passengers a seamless transition from smart house to smart boat.
Companies, such as Brunswick, are focusing on integrating technologies with all their boat brands. The company has entered into a new level through new Solstice model of Harris Pontoons. The 230 & 250 Solstice models are the first Harris pontoons to provide CZone digital switching capabilities with Brunswick’s electrical infrastructure. The pre-programmed and single-touch modes give boater control of an onboard electrical system, ensuring improved consumer experience with modern-day luxury infused. In addition, CZone’s pontoon boats have functionalities and modes that can be changed, updated, and programmed in real-time—suitable for boat builders, novice, and advanced boaters on the water. Also, CZone digital switching smart feature includes pre-programmed and single button click modes, such as: swimming mode, party mode, and cruising mode.
Moreover, the pontoon and deck boat manufacturers are adopting advanced technologies in their models. For instance, Bennington Marine is providing an updated version of a sound system to an integrated digital helm to numerous manufacturer’s models. In context to the introduction of new technologies, twin-engine applications are projected to become popular in the pontoon boat market, as builders such as Manitou & Bennington are providing joystick options to consumers. Such developments in the pontoon boat market are expected to propel market growth during the forecast period.
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Based on type, the pontoon boat market is segmented into bar boat, rear lounge, quad seating, arch models, and double decker. In 2020, the rear lounge segment led the pontoon boat market, accounting for the largest share in the market. Based on tube type, the pontoon boat market can be segmented into double tube and triple tube. In 2020, the triple tube segment accounted for the largest market share. Based on propulsion type, the pontoon boat market can be segmented into single engine, double engine, and electric motor. In 2020, the double engine segment accounted for the largest market share. Based on size, the pontoon boat market can be segmented into less than 20 feet, 20 - 30 feet, and more than 30 feet. In 2020, the 20 - 30 feet segment accounted for the largest market share. Based on application, the pontoon boat market can be segmented into fishing, watersports, recreational, and others. In 2020, the recreational segment accounted for the largest market share. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for the significant share in the global market.
Key Players -
Swiss Boats AG, Sun Tracker Boats, Polaris Inc., BRP, and Kiwi Kraft Ltd. are the five key market players operating in the global pontoon boat market. The pontoon boat market is highly fragmented and competitive due to occurrence of huge number of small scale and medium scale manufacturers in both developed and developing economies. The top 5 market players are majorly focusing on various organic and inorganic growth strategies to survive in the pontoon boat market. Such as, innovation of new technologies to offer enhanced product portfolios to the customers, merger and acquisitions, and expansion strategies.
In 2021 –
The first Bass Buggy 16 Pontoon Boat rolled off the assembly line at Bass Pro's new plant here recently. The facility was formerly a warehouse that was converted into a cutting-edge manufacturing facility. Sun Tracker Pontoon Boats, Bass Buggy 18 and Party Barge 18 are among the other boats built here. The expansion comes in the wake of the Bass Buggy line's unparalleled popularity and high demand.
In 2021 –
BRP stated that it has refocused its marine business on the expansion of its boat brands through new technologies and creative marine goods. Evinrude E-TEC and E-TEC G2 outboard engines will be phased out of production. Our facility in Sturtevant, Wisconsin, will be repurposed for new projects as part of our mission to provide customers with an unrivalled water experience.
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About the Authormahesh
Joined: September 20th, 2022
Articles Posted: 71
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