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Inflatable Boat Market is Set to Reach US$ 3.04 Billion by 2034 with a 3.9% CAGR Growth | Fact.MR Report

Lightweight and Portable Construction of Inflatable Boats Driving Their Widespread Use in Recreational Pursuits

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).

Checkout More Related Studies Published by Fact.MR Research:

Jet Boat Market: Jet boat offers a lot of seating space along with a swimming platform. The market is anticipated to grow with a CAGR of 5% during the forecast period.

Boat Lights Market: The global boat lights market is anticipated to reach a valuation of US$ 548.5 million in 2022 and is further forecast to surpass US$ 1.07 billion by the end of 2032, expanding at a high CAGR of 6.9% from 2022 to 2032.

Boat Steering System Market: Worldwide revenue from boat steering system sales is estimated at US$ 1.47 billion in 2024 and is projected to increase at a CAGR of 8.9% to reach US$ 3.45 billion by the end of 2034.

Ship/boat Keel Market: The ship/boat keel is basically a flat blade sticking down into the water from a ship or boat bottom. Ship/boat keel has two functions – keel prevents the boat from being blown sideways by the wind, and holding the ballast that keeps the ship/boat right-side up. The two popular choices of material for ballast ship/boat keels are lead and iron.

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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