Inflatable Boat Market is Set to Reach US$ 3.04 Billion by 2034 with a 3.9% CAGR Growth | Fact.MR Report
Rockville, MD, Sept. 16, 2024 (GLOBE NEWSWIRE) -- The global inflatable boat market, estimated to be valued at US$ 2.07 billion in 2024, is forecasted to expand at a CAGR of 3.9% from 2024 to 2034. Inflatable boats, generally referred to as dinghies or inflatables, have undergone a significant spike in popularity over recent years. These boats provide the ideal balance of ease and versatility, serving a wide range of marine applications due to their lightweight, portable construction and inflatable chambers.
The market for inflatable boats has considerable potential opportunities over the longer-term forecast period due to the rise in recreational boating, as well as the growing popularity of pontoon boats and saltwater fishing vessels. Because they can be quickly deployed, inflatable boats were originally designed for use in rescue and military activities, but they are now used in many other industries. Their influence is growing, ranging from recreational pursuits like diving, fishing, and family vacations to more serious uses like law enforcement and environmental conservation.
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Key Takeaways from Market Study:
- The global inflatable boat market has been calculated at US$ 2.07 billion for 2024.
- Demand for inflatable boats is projected to rise at a CAGR of 3.9% from 2024 to 2034.
- The market is projected to reach US$ 3.04 billion by 2034-end.
- The market in East Asia is forecasted to expand at a CAGR of 4.7% through 2034.
- Sales of rigid inflatable boats are projected to increase at a CAGR of 4.3% through 2034.
- North America is projected to account for 33.4% share of the global market by 2034.
“Key factors driving inflatable boat sales growth are an increase in spending by consumers on water sports and leisure activities, the use of inflatable boats for disaster management activities, and government norms making it compulsory for all passenger vessels carriers to have enough inflatable boats in proportion to the number of passengers on board,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Inflatable Boat Market:
AB Inflatables, Ribcraft USA LLC, Zodiac Nautic, Walker’s Bay, Damen Shipyard, Maxxon Pontoons, Grand Boats Sweden, Cardinal Boats
Convenient Portability of Inflatable Boats Revolutionizing Water Travel:
Since countries frequently lack sufficient safety equipment in an emergency, the adoption of inflatable boats for disaster management operations is projected to be a significant driver for the market. One of the key benefits of inflatable boats is their portability. Unlike traditional hard-hull boats, inflatables are simply deflated, packed, and moved in a car or stored, disproving the need for boat trailers or large storage facilities. For those who live in cities or have little storage, this feature is quite helpful. Because of their lightweight construction, which makes them workable for one person, they are also preferred by solo travelers.
- For example, during the August 2019 floods in Kerala, India, the state had very few inflatable boats grouped in a few districts, which caused a delay in search and rescue efforts.
Inflatable boats have been observed to be widely accepted in several rescue missions.
Inflatable Boat Industry News:
Leading producer of rigid inflatable boats, Zodiac, announced a strategic relationship with eOPEN in August 2021 to include electric boats in its product line.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the inflatable boat market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on type (rigid inflatable boats, soft inflatable boats), material (PVC, polyurethane, Hypalon/CSM), floor (fiberglass, aluminum, wood, air floor), and application (leisure, professionals & sports, maritime security), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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