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The US Boat Market is Estimated at US$ XX Billion in the year 2021, and projected to reach US$ 45.9 Billion by 2026, growing at a CAGR of 4%. US boat market is a transport vessel that can be used for the transport of goods as well as individuals. Boats are made of a variety of materials depending on the environment and use. The size and shape of the boat affects the purpose of the ability. Boats are classified into different types, including non-motorized boats, yachts, and motor boats.
The first steps towards boat safety standards have also begun at the American Boat and Yacht Council Conference. Since then, several large companies have emerged that have provided safety standards related to design, size, shape, engine, etc. and developments in boat manufacturing.
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US BOAT MARKET DYNAMICS
According to NMMA, new cruiser sales in 2020 hit a record high for the first time in 12 years, up 19.5% from 2019. This was due to increased sales of Stern Drive cruisers and outboard cruisers. Sales of new boats used in water sports in 2020 increased by 12.8%, surpassing 2007 sales levels for the first time. Increased sales of pontoon boats (up 17.3%), personal vessels (up 8.3%) and inboard wake sports boats (up 21.4%) were the main drivers of the surge in water sports boat sales in 2020. Sales of new fishing boats increased 10.3% Highest annual sales since 2020 and 2007.
In the olden days, ships were mainly used to carry things, but over time, ships are now considered luxury (upstream society). Speaking of the materials used, there are mainly 4 types of materials.
• Iron and steel
• Aluminum
• Cupronickel
• Fiberglass
• Ferrocement
• Composite Material
US BOAT MARKET SEGMENTATION
On Basis Of Engine Type
• Outboard
• Inboard
• Others
On Basis Of Application
• Fishing Boat
• Watersports
• Sailing
• Personal Watercraft
• Yacht
• Other
On The Basis Of Power
• Engine Powered
• Man Powered
• Sailing
IMPACT OF COVID-19 ON US BOAT MARKET
Different types of materials are used to produce boats for specific purposes, and those materials or parts are exported or imported as needed.
The Pandemic (Coronavirus) has halted transportation and human activities and reduced production and sales of all products and services. Businesses report lost revenues and some have gone bankrupt because demand is declining and the company’s resources cannot be handled by the pandemic. People have to pay upkeep because travel is stopped, and other unnecessary expenses sell the property to the owner.
KEY PLAYERS IN US BOAT MARKET
• Brunswick group
• Chaparral Boats
• J/Boats
• Feadships
• Perini Navi
• Bombardier Recreational ProductsInc. (BRP)
• Ferretti S.p.A.
Read More Information: https://mobilityforesights.com/product/us-boat-market/
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This release was published on openPR.
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