Pontoon boat is built on a flat deck and is equipped with two or three interconnected tubes also known as pontoon which enables the boat to float. Pontoon boat has gained momentum from multiple applications for recreational purposes, fishing or sporting activities.
Thus, increasing consumer inclination towards leisure activities among all kinds of people is foreseen to support the growth of the market. In addition, the pontoon boat is more spacious than any other motorboat, in turn, having plenty of storage space coupled with higher seating capacity.
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Pontoon Boat Market: Market Segmentation
For a better understanding, global pontoon boat market is being studied under tube type, size, application & region.
Based on the tube type, the Pontoon boat market can be segmented as:
- Two-Tube Pontoon
- Three-Tube Pontoon
Based on the size, the Pontoon Boat market can be segmented as:
- Less than 20 Feet
- 20-24 Feet
- Above 24 Feet
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Based on the application, the Pontoon boat market can be segmented as:
Based on the region, the Pontoon Boat market can be segmented as:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)
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Regional Analysis: North America and Europe to Bolster the Demand for Pontoon Boat
North America & Europe is foreseen to grow at a significant rate during the forecast period. The pontoon boat manufacturers are innovating their portfolio in order to keep the demand alive and consumer’s interest intact. For instance, they are integrating GPS, Bluetooth connectivity, swiveling fishing seats and other features to strengthen the product demand. This is expected to bolster the demand for pontoon boat in the region.
However, the high spread of COVID-19 is estimated to decrease the demand for pontoon boat in both regions. Thus, concentrating on local supply contracts is expected to prove beneficial in long term to the manufacturers. While multiple market leaders are present in North America & Europe, but new players will not enter in the market in the short term forecast owing to the COVID-19 pandemic. This, in turn, is expected to hinder the growth of the market in the near term.
Global Pontoon Boat Market Competitive Landscape
The pontoon boat market is fragmented with the presence of a large number of local and regional players. Some of the prominent players in the Brunswick Corporation, Polaris Industries, White River Marine Group, Sun Tracker, , Tahoe, Smoker Craft, Silver Wave, , Avalon Pontoon Boats, Larson Escape, Crest Marine LLC, Manitou Pontoon Boats and JC TriToon Marine, among others.
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Leading pontoon boat manufacturers are continuously involved in new product developments or advancements in their existing product portfolio to gain a competitive advantage in the market. For instance, in 2020, Sun Tracker introduced its new pontoon recreational boat “Party Barge 20 DLX”. The newly launched boat has seating capacity up to 10 crew and is also equipped with Bluetooth stereo.
The research answers important questions, including the following:
- How does the market look like by the end of 2029?
- Why the demand for the highest in region?
- What manufacturing techniques are involved in the production?
- What are the new products launched by players?
- In which year region will surpass region in terms of value?
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