Pune, India, Nov. 06, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Pontoon Boat Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Bar Boat, Rear Lounge, Quad Seating, Arch Models, and Double Decker), Tube Type (Double Tube and Triple Tube), Propulsion Type (Single Engine, Double Engine, and Electric Motor), Size (Less than 20 Feet, 20–30 Feet, and More than 30 Feet), Application (Fishing, Watersports, Recreational, and Others) and Geography,” the market was valued at US$ 2.13 billion in 2021 and is projected to reach US$ 4.08 billion by 2028; it is expected to grow at a CAGR of 9.7% from 2021 to 2028.
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Pontoon Boat Market: Competitive Landscape and Key Developments
Aloha Pontoons, BRP, Floating Terrace, Kiwi Kraft Ltd, Nazareth Boats, Polaris Inc., Pontoon boot, Sea and Yachting, Sun Tracker Boats, and Swiss Boats AG are among the key players profiled in the global pontoon boat market study. In addition, several other important market players were studied and analyzed during the course of this market research study to get a holistic view of the global market and its ecosystem.
In June 2021, the new Manitou portfolio continues BRP's tradition of offering incredible on-water experiences for family and friends. Manitou has unveiled its model year 2022 lineup, which adds more power and premium features to a lineup of performance, luxury, and leisure pontoon boats that is already excellent.
Pontoon Boat Market: Type Overview
Based on type, the pontoon boat market is segmented into bar boat, rear lounge, quad seating, arch models, double decker, and others. The rear lounge segment held the largest market share in 2020 because these types of pontoon easily accommodate several individuals.
Global Pontoon Boat Market Scope:
| Market Size Value in | USD 2.13 Billion in 2021 |
| Market Size Value by | USD 4.08 Billion by 2028 |
| Growth rate | CAGR of 9.7% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| Segments covered | Type, Tube Type, Propulsion Type, Size, Application |
| Regional scope | North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. |
| Country scope | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Emergence of New Pontoon Boats
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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The pontoon boat market is experiencing evolution constantly. From being a simple boxy floating boat to luxury-laden pleasure-boat, pontoon boat provides a relaxing experience to individuals for invigorating thrill rides. Pontoon boats are used for different purposes such as swimming, cruising, and watersports, as well as for lounging. For recreational activities, such as skiing, wakeboarding, and tubing, the boats have tow-bits and storage lockers, which are large enough to hold water skis or kneeboards, and swim platforms with large and stable ladders for climbing on/off the boat. Pontoon boats are the flat-deck boats powered by an outboard engine. These boats have square/rectangular shapes that make them ideal for choppy/rough water. The pontoon boats are also broadly used in lakes for entertainment, lounging, and fishing purposes. These boats have large deck space, that adds more seating space; extra storage space; and luxury, comfort, and additional room for different activities according to users' interest.
The growing boating industry, especially recreational boating across the globe, drives the growth of the pontoon boat market. Also, rise in the sales of deck and pontoon boats due to the rising passengers for watersports & recreational activities will play a magnificent role in generating demand for pontoons. Moreover, with the emergence of IoT-based applications, the trend of real-time tracking and smart boat is picking up its pace. The integration of IoT in pontoon boat is expected to create lucrative business opportunities for the pontoon boats manufacturers and providers in the coming years. However, the low speed and inefficient performance of pontoon boats on rough water restrain the growth of the pontoon boat market.
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