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.
The increasing general use of deck and pontoons boats is expanding their adoption exponentially. Therefore, to attract individuals, developments in pontoon boats are taking place. Below mentioned are a few of the instances for the same:
• In 2021, BRP, a leader in personal watercraft with their Sea-Doo brand, has now showcased a 2022 Sea-Doo Switch (expansion in the line of Sea-Doo). It is an all-new pontoon boat offering incredible versatility and stability of the pontoon platform. The quick-change deck design can be completely reconfigured to suit the needs of a single fishing trip, family picnic, and wakeboard session. Also, the new Manitou portfolio continued the BRP's tradition of offering incredible on-water experiences for family and friends. Manitou has unveiled its model year 2022 line-up, which adds more power and premium features to a line-up of performance, luxury, and leisure pontoon boats, which is already excellent.
• The pontoon boats are breaking the stereotype of only lounging and cruising by entering the water sports line at a tremendous rate. Similarly, a pontoon boat manufacturer rolled out surfable pontoon. The new boat has a patent-pending design, which perfectly blends the comfort of a pontoon boat with the performance of an inboard surf boat. Furthermore, another pontoon boat manufacturer has introduced a pontoon for the water sports category. The new boat exhibits the features of an integrated rocker and shape, along with contoured wake plates to allow an optimum waterflow for surfing.
With changing pontoon boats and deck boats globally, the focus of the same is also expanding. Cruising and fishing are some of the consumer’s interests. The pontoon manufacturers are bringing new changes to break stereotypes about pontoon boats by bringing them for water sports, like surfing into the scenario. Such developments in the pontoon boat market are expected to create lucrative business opportunities for the manufacturers and providers of pontoon boats in the coming years.
The pontoon boat market is segmented on the basis of type, tube type, propulsion type, size, application, and geography. Based on type, the 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. In terms of tube type, the pontoon boat market is bifurcated into double tube and triple tube. In 2020, the triple tube segment held a larger market share. As triple tube pontoons are more stable and generally have larger engines with higher horsepower as compared to double tube, these are widely used among passengers. Based on propulsion type, the pontoon boat market is segmented into single engine, double engine, and electric motor. The double engine segment held the largest market share in 2020. By size, the market is segmented into less than 20 feet, 20–30 feet, and more than 30 feet. The 20–30 feet segment dominated the market in 2020 and held the largest share as the boats of this size can easily accommodate up to 10–13 passengers. The pontoon boat market, by application, is segmented into fishing, watersports, recreational, and others. The recreational segment held the largest market share in 2020 as demand for cruising is increasing in countries across the world. Geographically, the market is segmented into five key regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM). North America held the largest revenue share in 2020, followed by Europe and APAC. APAC is projected to be the fastest growing region from 2021 to 2028.
Impact of COVID-19 Pandemic on Pontoon Boat Market
The COVID-19 pandemic has shaken several industries. In 2020, the tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicles and human movement, travel bans, mass lockdowns, and business shutdowns. The lockdown imposition has resulted in the lesser production of commodities, goods, and services. Also, the manufacturing sector has witnessed severe losses due to the temporary shutdown of factories and low production volumes. Additionally, social or physical distancing measures have led ship manufacturers to limit their operations. Therefore, the pontoon boat market had a negative impact during 2020.
In 2021, with the uplifting of lockdown and vaccination processes, the manufacturing of pontoon boats has resumed. Further, to overcome the challenges posed by the COVID-19 outbreak, the pontoon boat manufacturers are focusing on increasing product innovation and keeping consumers' requirements in mind, which will lead to increased demand in the coming years. Therefore, the global pontoon boat market is growing steadily.
A few key players operating in the pontoon boat market are Aloha Pontoons, BRP, Floating Terrace, Kiwi Kraft Ltd, Nazareth Boats, Polaris Inc., Pontoonboot, Sea and Yachting, Sun Tracker Boats, and Swiss Boats AG.