Demand for Bass Boat to Accelerate on Back of High Power Engine
Bass boat is specifically designed for fishing in the freshwaters such as lakes, rivers, and streams. These boats are powered by an outboard motor primarily used for bass fishing. Bass boat has a high horsepower-to-weight ratio ranging up to 300 HP which improves the performance on the water and widens its scope for competitive & professional angling activities. Further, the availability of bass boat in various sizes coupled with its lightweight and extensive range of power makes it a preferred choice for freshwater fishing. Such factors are encouraging the sales of bass boat globally.
However, bass boat has a higher maintenance cost owing to its high power engine which further increases the operational cost as its consumes more fuel than other boats. This, in turn, might restrict the growth of the market in the near future. Moreover, bass boat is equipped with swivel chairs, livewells, and coolers as standard fitting which makes it ideal for anglers to fish for a day on the water. This, in turn, is anticipated to trigger the demand for bass boat market during the forecast period.
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COVID-19 Impact on the Global Bass Boat Market
The outbreak of COVID-19 has presented several challenges for the boat manufacturing companies. The restrictions imposed in the manufacturing activities and volatile demand of bass boat is severely impacting the players. Further, the majority of the key market players are from North America. The production of bass boat is considerable in United States itself. Due to COVID-19 impact, the bass boat manufacturing companies are shut down, which is affecting the global sales and production of bass boat during 2020.
Moreover, disruptions in import-export due to pandemic situation have decreased the availability of raw material which is the biggest challenge for manufacturers. However, by the beginning of 2021, as the impact of pandemic is brought under control, the bass boat market is expected to gain momentum. It is estimated that, as the situation is contained, the market will regain its growth trajectory by mid-2021.
Bass Boat Market: Market Segmentation
For a better understanding, global bass boat market is being studied under boat type, application, power & region.
Based on the boat type, the Bass Boat market can be segmented as:
- Side Console
- Dual Console
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Based on the application, the Bass Boat market can be segmented as:
- Bottom Fishing
- Sports Fishing
- Recreational Fishing
Based on the power, the Bass Boat market can be segmented as:
- Less than 100 HP
- 100-200 HP
- Above 200 HP
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Based on the region, the Bass Boat market can be segmented as:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)
Regional Analysis: North America to Grow Significantly in Bass Boat Market
The National Marine Manufacturers Association (NMMA) has estimated a strong growth of boat sales in the USA, which in turn, is expected to propel the growth of bass boat market in the region. Moreover, bass boat are highly used in freshwater and more than 60% of the fishing in USA is done in freshwater which strengthens the demand for bass boat market. Such positive demand for fishing boat in the region is foreseen to strengthen the demand for bass boat, thereby offering lucrative opportunities for the bass boat manufacturers.
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Further, in 2019, US registered sales of around 280,000 boats accounting for nearly 2.2% of the country’s GDP. However, US being one of the widely affected regions with COVID-19 has impacted the growth of the market as manufacturers have to halt their production. This, in turn, is poised to hinder the growth of bass boat market until the end of 2020.
Global Bass Boat Market Competitive Landscape
The bass boat market is fragmented with large number of local and regional players. Some of the players are Skeeter Performance Fishing Boats, White River Marine Group, Lowe Boats, Triton Boats, SeaArk Boats, Tracker Boats, Stratos, Ranger Boats, Xpress Boats, Stratos Boats, Starcraft Marine, Crestliner Boats, among others.
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