Inflatable Boat Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 0.98 Billion |
| Market Size (2029) | USD 1.36 Billion |
| CAGR (2024 - 2029) | 6.75 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Inflatable Boat Market Analysis
The Inflatable Boat Market size is estimated at USD 0.98 billion in 2024, and is expected to reach USD 1.36 billion by 2029, growing at a CAGR of 6.75% during the forecast period (2024-2029).
The COVID-19 pandemic hindered the growth of the studied market as lockdowns and shutdowns of manufacturing units resulted in declined demand for inflatable boats. However, post-pandemic recreational activities witnessed a positive outlook market started gaining momentum and is likely to continue over the forecast period.
Over the longer-term forecast period, growth in recreational boating and the increasing popularity of pontoon boats and saltwater fishing vessels represent significant growth opportunities for the market studied. The major factors that will drive the growth during the forecast period in the market 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.
The use of inflatable boats for disaster management activities will be a major growth driver for the market as it has been experienced several times that counties are not prepared with enough safety equipment during emergency times. For instance, in India, Kerala floods in August 2019, the state had only a few inflatable boats concentrated in selected districts which delayed search and rescue operations. Furthermore, inflatable boats are seen readily accepted in several rescue operations which have elevated the overall demand during the study period.
Considering these mentioned factors, demand for inflatable boats is expected to remain positive during the forecast period.
Inflatable Boat Market Trends
This section covers the major market trends shaping the Inflatable Boat Market according to our research experts:
Leisure Segment is Expected to Dominate
Growing recreational activities in water and people spending more on such water sports activities will be the market driver during the forecast period. With the increase in global income levels of the people, they are spending more on travel and recreational activities. During the forecast period, it is expected that these activities will grow further, and this will drive the growth of the market.
Factors such as the expanding tourism industry and rising disposable income levels will drive the market forward. Developments in autonomous marine technology will increase the demand for less skilled recreational boaters even more. The presence of many manufacturers in this well-integrated and fragmented industry ensures a consistent supply for the worldwide demand for recreational boats. These inflatable boats are increasingly used in kayaking, scuba diving excursions, and other recreational application. With a wider range of inflatable boats available in the segment, inflatable kayaks, rubber rafts, lifeboats, and rescue boats are still gaining momentum in the segment.
The recreational boating industry continues to attract large volumes of participants competing strongly with rival luxury leisure pursuits. It is estimated that there are at least 140 million active boaters and water sports participants worldwide, including almost 100 million across the United States and Canada, a further 36 million across Europe, and more than 5 million in Australia.
Considering these factors, demand for inflatable boats is expected to showcase growth in the leisure segment.
Asia-Pacific is Expected to Remain Market Leader
The Asia-Pacific region is expected to exhibit a higher growth rate during the forecast period for the adoption of inflatable boats. Countries like China, India, Japan, and South Korea are leading the market from the front to increase inflatable boat adoption.
China's prime natural geographical location, a series of tourist attractions, and tourist sites have been formed in coastal areas. The length of China's coastline is about 32,000 km, of which 18,400 km are on the mainland, extending from the Yalu River at the China-Korea border to the China-Vietnam border. With the largest share of the population living in the region and the economic development which is leading the people towards a better standard of living and allowing them to spend more on recreational and leisure activities will be the reason for major growth in the region.
India in the Asia-pacific region has a total of 7,516kms of coastline and has a rising scope of various marine recreational activities. Also, governments are increasing initiatives for increasing tourism in their respective countries. For instance, in India, the number of tourist spots are on a rise and these spots are providing water sports as well, recently Vishakhapatnam Andhra Pradesh, is developed as the water sports destination in India, which is offering various activities which involve inflatable boats like kayaking and rafting. So, during the forecast period Asia-Pacific is expected be the largest region.
In addition, Navy and Coast Guards are also deploying these inflatable boats owing to its mobile properties and manoeuvrability during patrolling session along the coasts.
In addition, the inflatable boats are seeing actively deployed in the scenario of rescue operations. for instance, In September 2022, Bengaluru city of India witnessed extreme rainfall which resulted in flood and water logging situation in the city. According to India Meteorological Department (IMD), Bengaluru received 131.6 mm of rainfall breaking 80 years old record. Thus, authorities deployed inflatable boats near the Balagere-Panathur road to rescue residents from the situation.
Considering these development and factors, demand for inflatable boats is expected to remain positive in Asia-Pacific region during the forecast period.
Inflatable Boat Industry Overview
The Inflatable Boat market is moderately fragmented, with major players accounting for significant amounts of shares in the market. Some of the prominent companies in the Inflatable Boat market are AB Inflatables, Zodiac, Ribcraft USA, Walkers' Bay, Damen Shipyard, and others. Companies are investing heavily in research and development for the innovation of new and advanced products.
In August 2021, Zodiac which is the largest manufacturer of rigid inflatable boats announced its strategic partnership with eOPEN for revamping its product line with electric boats.
Inflatable Boat Market Leaders
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AB Inflatables
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Ribcraft USA LLC
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Zodiac Nautic
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Walker’s Bay
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Damen Shipyard
*Disclaimer: Major Players sorted in no particular order
Inflatable Boat Market News
In December 2021, Mercury Marine which is a division of Brunswick Corporation opened a centralized, purpose-built distribution center near Indianapolis, Indiana. The new 512,000 square-foot facility will felicitate several Mercury Marine products including inflatable boats.
Inflatable Boat Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porters Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size in Value USD Billion)
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5.1 End-User Type
- 5.1.1 Leisure
- 5.1.2 Defense
- 5.1.3 Others
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5.2 Boat Type
- 5.2.1 Rigid
- 5.2.2 Soft
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Rest of North America
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 India
- 5.3.3.2 China
- 5.3.3.3 Japan
- 5.3.3.4 South Korea
- 5.3.3.5 Rest of Asia-Pacific
- 5.3.4 Rest of the World
- 5.3.4.1 Brazil
- 5.3.4.2 Mexico
- 5.3.4.3 United Arab Emirates
- 5.3.4.4 Other Countries
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
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6.2 Company Profiles
- 6.2.1 AB Inflatables Crafts
- 6.2.2 Ribcraft USA LLC
- 6.2.3 Zodiac Nautic
- 6.2.4 Walker's Bay
- 6.2.5 Damen Shipyard Group
- 6.2.6 Mercury Marine
- 6.2.7 Maxxon Inflatable Boats
- 6.2.8 Survitec Group Limited
- 6.2.9 Grand Marine International Inc.
- 6.2.10
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityInflatable Boat Industry Segmentation
An inflatable boat is considered a lightweight boat constructed which is constructed as a flexible structure with its sides and bow made of flexible tubes carrying pressurized gas.
The Inflatable Boat Market is segmented by end-user type, boat type, and by geography. Based on end-user type, the market is segmented into leisure, defense, and others. Based on boat type, the market is segmented into rigid and soft, and based on geography, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. For each segment, the market sizing and forecasting are based on value (USD Billion).
| End-User Type | Leisure | |
| Defense | ||
| Others | ||
| Boat Type | Rigid | |
| Soft | ||
| Geography | North America | United States |
| Canada | ||
| Rest of North America | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | India |
| China | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Rest of the World | Brazil |
| Mexico | ||
| United Arab Emirates | ||
| Other Countries |
Inflatable Boat Market Research FAQs
How big is the Inflatable Boat Market?
The Inflatable Boat Market size is expected to reach USD 0.98 billion in 2024 and grow at a CAGR of 6.75% to reach USD 1.36 billion by 2029.
What is the current Inflatable Boat Market size?
In 2024, the Inflatable Boat Market size is expected to reach USD 0.98 billion.
Who are the key players in Inflatable Boat Market?
AB Inflatables, Ribcraft USA LLC, Zodiac Nautic, Walker’s Bay and Damen Shipyard are the major companies operating in the Inflatable Boat Market.
Which is the fastest growing region in Inflatable Boat Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Inflatable Boat Market?
In 2024, the North America accounts for the largest market share in Inflatable Boat Market.
What years does this Inflatable Boat Market cover, and what was the market size in 2023?
In 2023, the Inflatable Boat Market size was estimated at USD 0.92 billion. The report covers the Inflatable Boat Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Inflatable Boat Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Inflatable Boat Industry Report
The report on the Global Inflatable Boat Market offers a comprehensive industry overview, detailing key segments by end user type, boat type, and geography. The industry report provides valuable market data, including market size and market share, as well as a detailed industry analysis. The report highlights the market segmentation, covering leisure, defense, and other end user types, and differentiates between rigid and soft inflatable boats.
The market forecast includes insights into market growth, industry trends, and market outlook, offering a thorough understanding of the market's future trajectory. The report also features industry statistics, industry size, and industry sales data, providing a robust foundation for market predictions and market value assessments.
In addition, the report includes a market review and industry information, ensuring a holistic view of the market landscape. It identifies market leaders and provides a market overview, supported by industry research and industry reports. The report example and report pdf offer a practical guide for further exploration and analysis.
Overall, this report serves as a crucial tool for research companies, enabling them to understand the market trends and growth rate, and to make informed decisions based on the extensive market analysis and industry outlook provided.
