Aluminum Fishing Boat Market by Boat Type (Bass Boat, Multi-species Boat, Deep-V Boat, and Others), Size (<14 Feet, 14-16 Feet, and >16 Feet), Engine Type (<200 HP, 200-300 HP, and >300 HP), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2030

Global Aluminum Fishing Boat Market Analysis

The global aluminum fishing boat market size was $1,362.5 million in 2021 and is predicted to grow with a CAGR of 7.44%, by generating a revenue of $2,491.8 million by 2030.

Source: Research Dive Analysis

Market Synopsis

Due to the increased engagement in outdoor activities like fishing, the aluminum fishing boat market is booming. Fishing is a popular outdoor activity that encompasses a variety of activities such as saltwater fishing, freshwater fishing, fly fishing, kayak fishing, and more. Fishing is also becoming increasingly popular among children as it exposes them to the wonders of nature. People's desire to reconnect with nature has also enhanced the appeal of fishing as a hobby.

However, availability of substitute products such as fiberglass boats and steel-based boats & ships is estimated to restrain the aluminum fishing boat market growth. For instance, the fiberglass boat is malleable and the material is easy to clean. Also, steel-based boats & ships are preferred in the oceans & seas compared to aluminum fishing boats. This is because aluminum fishing boats are prone to corrosion in saltwater such as oceans and seas.

The advancements in aluminum fishing boats that come with lifetime hull warranty which induces longevity are estimated to generate excellent growth opportunities. Also, aluminum provides 10 times the shear strength compared to fiberglass boat. Due to this, aluminum fishing boat has better fuel economy. Hence, aluminum fishing boats are about one-fourth times lighter than the fiberglass boats. Also, they can carry more people and goods.

According to regional analysis, the North America aluminum fishing boat market is predicted to garner the dominant share in the projected timeframe.

Aluminum Fishing Boat Overview

Aluminum fishing boats are used across wide range of applications such as fishing, sports, entertainment, and recreation. These boats have excellent riding features as they are light-weight and have high-speed even with low-powered engine. These boats are available in three basic styles namely jon boats, mod-v boats, and deep-v. For instance, jon boats are widely used in rivers and small lakes as they have flat bottom and a squared-off or blunt bow due to which they can operate on shallow water and can get on land quickly.

Aluminum fishing boats are gaining popularity in the freshwater fishing industry, which is predicted to raise the market growth over the forecast period. Consumers will be drawn to modern aluminum fishing boats, such as snug cabin boats and pontoon boats, which are being provided by marine manufacturers.

Impact of Covid-19 Aluminum Fishing Boat Market

The coronavirus outbreak has posed a number of issues for numerous enterprises around the world. Due to a significant drop in demand for recreational activities, the aluminum fishing boat market has suffered a setback. Travel restrictions, social distance conventions, and stay-at-home rules, for example, have all reduced the attractiveness of fishing as a sport. People have also avoided travel and outdoor activities due to their concern of catching the COVID-19 virus. Hence, recreational activities such as water tourism, fishing, and others were severely curtailed, reducing demand for aluminum fishing boats. Due to the severe economic crisis, many small-scale industries had to close their doors. The majority of the raw materials needed to make aluminum fishing boats, such as the hull, motor, and other components, are imported from China. However, because China was the epicenter of the COVID-19 outbreak, the government imposed import-export restrictions, which greatly reduced the availability of raw materials.

Popularity of Fishing due to its Stress Releasing Property to Drive the Market Growth

Fishing as a hobby is linked to a variety of health advantages, including stress alleviation, increased social bonding, self-fulfillment, and a thrilling & demanding experience. Many people, for example, enjoy fishing because it gives them a sense of freedom. People enjoy freedom when they go fishing since the setting is very different from everyday life. Nature interaction allows you to forget about your troubles. Fishing also fosters social bonding since it allows people to form strong bonds with their peers in a peaceful environment, away from the daily grind. Fishing promotes healthier lifestyle as people become active and feel encouraged. Nowadays, fishing has become a popular recreational activity as the pleasure of fishing lies in the activity itself and not in how many fishes are caught. Fishing creates a sense of self-fulfillment because when one goes for fishing, they respect environment, develop new skills, learn to be patient, and create a goal & try to achieve that goal.   

The productivity of a professional aluminum boat is one of the most significant advantages. Aluminum is 30% lighter than steel at 2.70 g/cm3. Reduced weight allows the boat to travel faster and more efficiently through the water. According to the size of the boat, these variances will become more noticeable.

In terms of energy and economics, aluminum is one of the most appealing metals for recycling. Because aluminum trash is a valuable resource, recycling metal is profitable.. Only 5% of the energy used to create the metal is used in the recycling process. The percentage of reclaimed aluminum has been continuously rising for 30 years to a level where it now represents 30% of the world’s consumption.

To know more about global aluminum fishing boat market drivers, get in touch with our analysts here.

Corrosion in Aluminum Fishing Boats is Expected to Limit Market Growth.

Aluminum fishing boats are prone to corrosion because negatively charged aluminum metal pulls electrons from positively charged metal. By degrading the metal, this corrodes it. Furthermore, applying anti-fouling agent to an aluminum boat is more difficult than applying anti-fouling agent to a fiberglass boat, raising the boat's cost. Long-term temperature tolerance of aluminum fishing boats is low, so prolonged exposure to high temperatures is not recommended. These challenges are projected to limit the size of the aluminum fishing boat sector in the next years.

Various Advantages Offered by Aluminum Fishing Boat like Strength and Durability to Generate Excellent Growth Opportunities

Aluminum fishing boats are less expensive as compared to fiberglass boats. For example, the Lund and Tracker aluminum fishing boats are fitted with high-end equipment to facilitate fishing and cost less than $15000. Aluminum boats can achieve high speeds with smaller engines than fiberglass boats, which require huge or double engines to obtain the same speed. These boats are extremely strong and durable. These boats can also endure the risks that may arise during the launching, towing, and retrieval processes. Also, these boats can withstand uncertainties that may occur during launching, towing, and retrieving process. For shallow waters and rocky beaches, aluminum boats are popular choice of fishermen. These boats have high resale value and require less maintenance during their lifespan. Aluminum boats are 100% recyclable that makes them eco-friendly.

To know more about global aluminum fishing boat market opportunities, get in touch with our analysts here

Aluminum Fishing Boat Market, by Boat Type

Based on boat type, the market has been divided into bass boat, multi-species boat, deep-v boat, and others. Among these, the deep-v boat sub-segment accounted for highest market share in 2021 and it is estimated to show the fastest growth during the forecast period.

Global Methanol Market Share, by Boat Type, 2021

Source: Research Dive Analysis

The deep-v boat sub-type is anticipated to have a dominant market share in the projected timeframe. Deep-v boats are popular among fisherman because they can function comfortably in choppy weather and go further offshore. At lower speeds, deep-v boats are easier to control. Due to the presence of a pointed bow that slices forward, the V shape design of these boats delivers a fantastic ride experience even in turbulent waves. When compared to flat bottom boats, deep-V boats can travel faster around the water, which is vital for activities like fishing contests.

Aluminum Fishing Boat Market, by Size

Based on size, the market has been divided into <14 feet, 14-16 feet, and >16 feet. Among these, the 14-16 feet sub-segment accounted for the highest revenue share in 2021 and it is estimated to show the fastest growth during the forecast period.

Global Aluminum Fishing Boat Market Share, by Size, 2021

Source: Research Dive Analysis

The 14-16 feet sub-segment is anticipated to have a dominant market share during the timeframe. Mid-sized aluminum fishing boats, about 14-16 feet in length, are built for fishing in harsh waters and are noted for their durability. Aluminum fishing boats with a length of 14-16 feet are lighter, stronger, and can accommodate multiple persons. In addition, they are less expensive than fiberglass boats. For example, a 14-foot aluminum fishing boat from Lund, a leading boat manufacturer, is constructed of heavy-gauge aluminum for rigorous durability and a smooth ride.  Also, the 14 feet boat named SSV-14 is best suited for walleye fishing or running to & from the campsite which offers ultimate fishing experience. In addition, the 16-feet aluminum fishing boat by Lund named SSV-16 includes all the features of SSV-14 and has additional side console option or a drop-in floor for ultimate fishing boat experience. 

Aluminum Fishing Boat Market, by Engine Type

Based on engine type, the market has been divided into <200 HP, 200-300 HP, and >300 HP. Among these, the <200 HP sub-segment accounted for the highest market share in 2021 and is predicted to show the fastest growth during the forecast period.

Global Aluminum Fishing Boat Market Share, by Engine Type, 2021

Source: Research Dive Analysis

<200 HP sub-segment is anticipated to have a dominant market share in the timeframe. The market for engine-driven aluminum fishing boats is expected to expand at a steady pace. The <200 HP provides a fuel-saving choice for small-scale fishing, as well as great maneuverability, allowing you to move freely and quickly in larger bodies of water with harsher conditions. These boats are typically utilized for recreational activities such as fishing because they are more durable and comfortable.

Global Aluminum fishing Boat Market, Regional Insights:

The aluminum fishing boat market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Global Aluminum Fishing Boat Market Size & Forecast, by Region, 2021-2030 (USD Million)

Source: Research Dive Analysis

The Market for Aluminum Fishing Boat in Asia-Pacific Region to Show the Fastest Growth

Japan's commercial fishing industry has existed for generations thanks to its love of seafood. Fishing is also seen as a hobby as well as a sport in Japan, reflecting the different fisheries available. In Japan, both freshwater and saltwater fishing are popular. Similarly, India's extensive coastline, which stretches for 8000 kilometers, contributes for more than 10% of the world's fish biodiversity. Rohm, Masher, Hilda, Rani, Kabuli, Trout, and other fish species thrive along these shores.  Furthermore, the product innovation and acquisition significantly contribute towards the market growth. For instance, Yamaha Motor Co., Ltd. in December 2021, revealed that they have acquired Siren Marine, Inc., which is a US based company that offers connected boat solutions to the marine industry with the help of smart technology. This acquisition will result in development for connected boat and Internet of Things that will support the marine industry and may further lead to lucrative market opportunities for key players in the upcoming years.

Competitive Scenario in the Global Aluminum Fishing Boat Market

Acquisition and business expansion are common strategies followed by major market players.

Source: Research Dive Analysis

Some of the leading aluminum fishing boat market players are Yamaha Motor Co., Ltd., Brunswick Corporation, BRP, Correct Craft, Smoker Craft Inc., White River Marine Group, UMS Boats, Mirror Craft, Legend Boats, and Bennington Pontoon Boats.