Market Size of Inflatable Boat Industry
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 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 | |||||||
| |||||||
| |||||||
| |||||||
|
Inflatable Boat Market Size Summary
The inflatable sailboat market is poised for significant growth over the forecast period, driven by increasing consumer spending on water sports and leisure activities. The market experienced a temporary setback due to the COVID-19 pandemic, which disrupted manufacturing and reduced demand. However, the post-pandemic recovery has seen a resurgence in recreational boating activities, with inflatable boats gaining popularity for both leisure and practical applications. The market is expected to benefit from the rising use of inflatable boats in disaster management, as well as government regulations mandating their presence on passenger vessels. The growing interest in pontoon boats and saltwater fishing vessels further underscores the market's potential, as these activities continue to attract a broad audience.
The Asia-Pacific region is anticipated to lead the market's growth, with countries like China, India, Japan, and South Korea at the forefront. The region's expansive coastlines and increasing disposable incomes are driving demand for inflatable boats, particularly in recreational and tourism sectors. The presence of numerous manufacturers in this fragmented industry ensures a steady supply to meet global demand. Additionally, advancements in autonomous marine technology are expected to enhance the appeal of inflatable boats for less skilled recreational boaters. The market's competitive landscape is characterized by significant investments in research and development, with major players like AB Inflatables, Zodiac, and Ribcraft USA focusing on innovation to capture market share.
Inflatable Boat Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Drivers
-
1.2 Market Restraints
-
1.3 Porters Five Forces Analysis
-
1.3.1 Threat of New Entrants
-
1.3.2 Bargaining Power of Buyers/Consumers
-
1.3.3 Bargaining Power of Suppliers
-
1.3.4 Threat of Substitute Products
-
1.3.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION (Market Size in Value USD Billion)
-
2.1 End-User Type
-
2.1.1 Leisure
-
2.1.2 Defense
-
2.1.3 Others
-
-
2.2 Boat Type
-
2.2.1 Rigid
-
2.2.2 Soft
-
-
2.3 Geography
-
2.3.1 North America
-
2.3.1.1 United States
-
2.3.1.2 Canada
-
2.3.1.3 Rest of North America
-
-
2.3.2 Europe
-
2.3.2.1 Germany
-
2.3.2.2 United Kingdom
-
2.3.2.3 France
-
2.3.2.4 Rest of Europe
-
-
2.3.3 Asia-Pacific
-
2.3.3.1 India
-
2.3.3.2 China
-
2.3.3.3 Japan
-
2.3.3.4 South Korea
-
2.3.3.5 Rest of Asia-Pacific
-
-
2.3.4 Rest of the World
-
2.3.4.1 Brazil
-
2.3.4.2 Mexico
-
2.3.4.3 United Arab Emirates
-
2.3.4.4 Other Countries
-
-
-
Inflatable Boat Market Size 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.
