Tourism is booming sector all around the globe due to a rising disposable income and increase in lifestyle spending of consumers. This combination of factors mainly contributes to the growth of marine and coastal tourism. Increasing marine and coastal tourism activities are anticipated to increase demand for boat trailer bunks in upcoming period. Moreover, Major wholesalers working in this market mainly focus on developing highly efficient products. As a result, they are spending more money on research and development activities.
According to Data Bridge Market Research the Boat Trailer Market accounted for USD 0.84 billion in 2021, and expected to reach USD 1.22 billion by 2029. The market is expected to grow with a CAGR of 4.80% in the forecast period of 2022 to 2029.
“Increasing Sales of Boat Trailer for Recreational Activities”
Growth and expansion in marine tourism and water recreational activities is expected to increase the demand for the new boats, eventually boosting the market growth for boat trailers during the forecast period. This distinguishing feature of these boats is contributing to the growing demand for boat trailers in both the automobile and marine industries. The main benefit offered by boat trailer is to provide flexibility for transporting boats to various places such as bays, inlets, rivers, lakes and sea. Moreover, an increase in marine tourist activities such as yachting, boating, water skiing, kite surfing, and so on is predicted to boost sales of crafts and new boats, positively affecting the boat trailers market growth.
What restraints the growth of Boat Trailer Market?
“High initial cost and lack of skilled labor”
A major factor that is restraining the market growth is the high initial investment cost and maintenance cost of boat associated with trailer which will hamper the market growth during the forecast period. Furthermore, rising need for skilled labor for repairing and manufacturing boat trailers and growing development of new and innovative products that can meet the changing customers demand are some of the challenging factors for the targeted market growth during the forecast period.
Segmentation: Boat Trailer Market
The boat trailer market is segmented on the basis of product, material, offload capacity and application.
- On the basis of product, the boat trailer market is segmented into bunk trailers and hybrid trailers.
- On the basis of material, the boat trailer market is segmented into galvanized steel and aluminum.
- Based on offload capacity, the boat trailer market is segmented into heavy weight trailers and up to 1,500 kg.
- Based on application, the boat trailer market is segmented into motor boats, other watercraft and outboard motors.
Regional Insights: North America is expected to dominate the Boat Trailer Market
North America is expected to dominate the market and is expected to grow significantly owing to the increasing applicability of commercial and personal boat trailers in this region. Furthermore, in the U.S, manufacturers of boat trailers are adopting latest and advanced technologies by offering bunk models that have high corrosion resistance and exceptional strength with classic designs.
- In addition, the North America region is likely to register highest growth rate during the forecast period of 2022 to 2029 because major market players focus on providing the robust exterior support for easy loading with variety of load capacities in this region. Moreover, Manufacturers are also focusing on providing exceptional security, durability, performance for long haul of trailers for unloading in boats and easy loading.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-boat-trailer-market
The Prominent Key Players Operating in the Boat Trailer Market Include:
- Kropf Industrial Inc. (Canada)
- HOSTAR Marine Transport Systems Inc. (U.S.)
- TRIGANO Group (France)
- Hydrotrans (Nigeria)
- Balbi Rimorchi (Italy)
- EZ Loader (U.S.)
- Midwest Industries Inc. (U.S.)
- Load Rite Trailers, Inc (U.S.)
- Karavan Trailers (U.S.)
- HLT Limited (U.S.)
- Boatmate Trailers (U.S.)
- Venture Trailers (U.S.)
- RAI Amsterdam (Netherlands)
Above are the key players covered in the report, to know about more and exhaustive list of Boat trailer Market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Boat trailer Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
