Ski and Wake Boat Market to Reach US$ 1.94 Billion in 2024, Says Stratview Research

DETROIT, Sept. 3, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Ski and Wake Boat Market by Boat Type (Wakeboard Boat, Wakesurf Boat, and Ski Boat), by Hull Material Type (Fiberglass and Aluminum), and by Region (North America, Europe, Asia-Pacific, and Rest of the World) Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

This report, from Stratview Research, forecasts the ski and wake boat market for the period of 2019 to 2024 in terms of both value and units; at the global, regional, and country level. The report segments and analyzes the market in the most comprehensive manner to provide a 360-degree view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available as well as formulation of growth strategies. 

Ski and Wake Boat Market: Highlights

Ski and wake boats are family boats and are available in different types designed based on watersport activities. They are available in different sizes as per the demand of boaters. Different types of boats are preferred in different regions. For instance, wakeboard boats are preferred more in the USA, whereas wakesurf boats are majorly used in Europe. 

As per Stratview Research, the ski & wake boat market is projected to grow at a healthy rate over the next five years to reach US$ 1.94 billion in 2024. Increasing number of participants in outdoor activities, growing new powerboat sales, increasing HNWI population, and increased affordability of recreational boats are major growth propellers of the ski and wake boat market.

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In terms of boat type, wakeboard boat is expected to remain the growth engine of the ski and wake boat market during the forecast period. Decrease in fuel prices, attractive boat layout, and new designs of boats are the key factors propelling the demand for wakeboard boats in the industry.  

Based on the hull material type, fiberglass boat is likely to remain the larger and faster-growing segment of the market in the coming five years. The demand for fiberglass boat type is largely driven by the material's excellent properties such as strength-to-weight ratio, incombustibility, high electrical insulating property, and low susceptibility to moisture.

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In terms of region, North America is expected to remain the largest ski and wake boat market during the forecast period with the USA being the growth engine. The USA is estimated to maintain its supremacy not only in the North American market but also in the global marketplace. All the major recreational boat manufacturers have a widespread presence in all the major markets in the USA in order to better penetrate the market. Europe also holds a considerable share in the market with France, Germany, and the UK being the key demand generators in the region. Asia-Pacific is a relatively small market but will exhibit excellent growth rate in years to come, largely driven by New Zealand, Australia, and China.

The global ski and wake boat market is highly consolidated with the presence of few boat manufacturers including Malibu Boats Inc., Mastercraft Boat Holdings Inc., Correct Craft Inc., and Skier's Choice Inc. capturing lion's share. Development of high-performance and valuable ski and wake boats, expansion of distribution network in untapped markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market. 

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

This report studies the global ski and wake boat market and has segmented the market in three ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the three ways in which the market is segmented:

Ski and Wake Boat Market, By Boat Type

• Wakeboard Boats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Wakesurf Boats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Ski Boats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Ski and Wake Boat Market, By Hull Material Type

• Fiberglass Boats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Aluminum Boats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Ski and Wake Boat Market, By Region

• North America (Country Analysis: The USA and Canada)
• Europe (Country Analysis: France, Germany, The UK, and RoE)
• Asia-Pacific (Country Analysis: Australia, New Zealand, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, The Middle East, and Others)

Stratview Research has several high value market reports in the marine industry. Please refer to the following link to browse through our reports:
Click Below for Other Reports from Stratview Research in the Marine and Consumer Goods Industry: https://www.stratviewresearch.com/market-reports/Consumer-Goods.html

Other premium report from Stratview Research in the Boat Industry:
Pontoon Boat Market by Application Type (Family-Fun pontoon, Fishing Pontoon, Cruising Pontoon, Watersports Pontoon, and Others), by Tube Type (Two-Tube Pontoon and Three-Tube Pontoon), by End-Use Type (Private and Commercial), by Size Type (<20 Feet, 20-24 Feet, and >24 Feet), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
Aluminum Fishing Boat Market by Boat Type (Deep-V Boat, Bass Boat, Multi-Species Boat, and Others), by Size Type (<14 Feet, 14-16 Feet, and >16 Feet), by Engine Type (<200 HP, 200-300 HP, and >300 HP), and by Region (North America, Europe, Asia-Pacific, and Rest of the World) Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.
Recreational Fiberglass Boat Market by Boat Type (Outboard Boat, Inboard/Sterndrive Boat, PWC, and Others), by Application Type (Fishing, Watersports, Sailing, and Others), by Power Type (Engine-Powered and Sail-Propelled), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

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We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. 

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