DUBAI, UAE / ACCESSWIRE / August 25, 2020 / According to a new market study by Future Market Insights (FMI), the boat trailer market is forecasted to grow at a healthy CAGR of 5% between 2019 and 2029.
The report attributes the growth of the market to a burgeoning number of boat parks & recreational water sports centers and increased spending on leisurely activities, majorly in developed regions. On this premise, the consequential increase in boat sales has propelled the demand for boat trailers, thus transmuting into the growth of the boat trailer market.
The expansion of marine tourism and water activities has also been a major factor fuelling the demand for boat trailers. Moreover, on the back of the flexibility offered by boat trailers allows users to transport boats to and from rivers, lakes, bay, sea, and other water bodies with ease. Furthermore, increased spending on recreational activities is expected to boost the demand for boat trailers.
In 2017, there were around 10 million boats registered in the U.S., and the number is expected to grow by 1% annually for the years to come. This is ensuring that the demand for boat trailers will remain steady in the forthcoming years.
"Observing the shift towards lightweight boats, manufacturers of boat trailers are focusing on developing lightweight trailers. This is expected to widen the profit margins while lowering the operational costs", opines FMI analyst.
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Boat Trailer Market - Key Takeaways
- The global boat trailer market was valued at US$ 800 Mn in 2019 and will expand 1.5x in value through the forecast period.
- Bunk trailers are expected to remain the most sought-out trailer types owing to early penetration.
- Trailers made of galvanized steel are expected to account for more than 55% of market share while aluminum-based trailers are gaining traction.
- Heavyweight trailers will prevail as the most popular segment while trailers weighed below 1,500 kg are gaining prominence.
Boat Trailer Market - Key Trends
- Rising preference for lightweight boat trailers is expected to emerge as an important trend in fostering the growth of the boat trailers market.
- Rising levels of disposable incomes in emerging economies are bestowing lucrative revenue opportunities to market players.
Boat Trailer Market - Regional Analysis
- North America is expected to prevail as the leading regional market, with the US holding nearly 43% of global market value, owing to the high popularity of water sports in the region.
- East Asia is expected to grow in value through the forecast period, with China forefronting the regional growth, backed by the presence of numerous market players.
Boat Trailer Market - Competitive Landscape
Some of the key players operating in the market include TRIGANO Group, Boatmate Trailers, Kropf Industrial Inc., Hydrotrans, Balbi Rimorchi Srl, EZ Loader, Shoreland'r, TRACKER, Load Rite, Hostar Marine Transport Systems Inc., Karavan Trailers, HLT Ltd., and Venture Trailers, among others.
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Boat Trailer Market - Taxonomy
Product Type:
- Bunk trailers
- Hybrid trailers
Material Type:
- Galvanized steel
- Aluminum
Load Capacity:
- Heavy weight trailers
- Demand for trailers
Region:
North America
- U.S
- Canada
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
Europe
- EU-5
- BENELUX
- Russia
- Poland
- Rest of Europe
South Asia
- India
- Pakistan
- Sri Lanka
East Asia
- China
- Japan
- South Korea
Oceania
- Australia
- New Zealand
Middle East & Africa
- GCC
- Turkey
- South Africa
- Rest of MEA
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Get Valuable Insights into the Boat Trailer Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global boat trailer market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the boat trailer market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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Mr. Abhishek Budholiya
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Jumeirah Lakes Towers, Dubai,
United Arab Emirates
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Report: https://www.futuremarketinsights.com/reports/boat-trailer-market
Press Release Source: https://www.futuremarketinsights.com/press-release/boat-trailer-market
SOURCE: Future Market Insights
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