The boat and yacht transportation market share is expected to increase by USD 539.95 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 3.91%.
This boat and yacht transportation market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers boat and yacht transportation market segmentation by product (boat and yacht) and geography (Europe, North America, APAC, South America, and MEA). The boat and yacht transportation market report also offers information on several market vendors, including A.P. Moller - Maersk AS, Andrews Trucking Ltd., Boat Shipping USA LLC, CEVA Logistics AG, Joule Yacht Transport Inc., KAR Auction Services Inc., One World Shipping Network Inc., Peters & May Ltd., Spliethoff Group, and United Yacht Transport among others.
What will the Boat and Yacht Transportation Market Size be During the Forecast Period?
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Boat and Yacht Transportation Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The rising demand for recreational boating is notably driving the boat and yacht transportation market growth, although factors such as volatility in fuel prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the boat and yacht transportation industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Boat and Yacht Transportation Market Driver
Rising demand for recreational boating is a major driver fueling the boat and yacht transportation market growth. Recreational boats can be used for conducting different activities such as watersports, sailing, fishing, and cruising. High consumer confidence in the growth of technology and significant features being inducted in boats are some of the major factors that will drive the recreational boat market. The presence of low-cost skilled labor is encouraging countries in Europe to manufacture recreational boats and export them to other countries across the world. The growing disposable income and an increase in consumer spending on recreational activities are fostering the demand for recreational boating in APAC. Among all types of recreational boats, outboard engine boats are expected to witness high demand in the global recreational boating market during the forecast period. It is mainly because of its effective use in water sports activities. Growth in the global recreational boating market is expected to increase the growth of the global boat and yacht transportation market.
Key Boat and Yacht Transportation Market Trend
The use of blockchain technology in marine transportation is one of the key global boat and yacht transportation market trends. Across the global regions, APAC is expected to show the highest growth in the adoption of blockchain technology. For example, the growth of FinTech (digital banking) technology in APAC doubled in 2016 by leapfrogging the US and Europe. This showcases APAC’s position as an early adopter of innovative technologies, and it is expected to reflect in the adoption of blockchain technology. China has also adopted the blockchain as a new strategy for economic development. For instance, VeChain, Matrix, and Nebulas were three key blockchain projects in China in 2018. In 2019, A.P. Moller-Maersk and IBM announced the setting up of a joint venture using blockchain technology to make supply chains efficient and safe. The adoption of blockchain technology by A.P. Moller- Maersk is expected to reduce the transportation cost by 20% when compared with that of physical transportation.
Key Boat and Yacht Transportation Market Challenge
Volatility in fuel prices is a major hindrance to the boat and yacht transportation market growth. The volatility in fuel prices will affect boat and yacht transportation by both trucks and waterways. Gasoline and diesel are commonly used fuels in trucks and marine vessels. The lower fuel price makes the boat and yacht transporters utilize the old fleet vehicles, including trucks and marine vessels, which consume comparatively more fuel than the newly manufactured vehicles. In contrast, high fuel prices induce the boat and yacht transporters to invest in highly fuel-efficient or alternative fuel vehicles to keep up the margin. Though the fuel cost incurred by the boat and yacht transporters is transferrable to end customers, it is applicable only to a certain extent. The prices of crude oil can fluctuate due to many factors, such as a rise in the cost associated with oil exploration and production and growing demand for crude oil. Government taxation: Heavy taxes imposed on the sale of fuel can result in price fluctuation of crude oil. Some of the taxes imposed on fuels are the Goods and Services Tax, gross receipts tax, oil inspection fees, and emission trading levies.
This boat and yacht transportation market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the boat and yacht transportation market as a part of the global hotels, restaurants, and leisure market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the boat and yacht transportation market during the forecast period.
Who are the Major Boat and Yacht Transportation Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- A.P. Moller - Maersk AS
- Andrews Trucking Ltd.
- Boat Shipping USA LLC
- CEVA Logistics AG
- Joule Yacht Transport Inc.
- KAR Auction Services Inc.
- One World Shipping Network Inc.
- Peters & May Ltd.
- Spliethoff Group
- United Yacht Transport
This statistical study of the boat and yacht transportation market encompasses successful business strategies deployed by the key vendors. The boat and yacht transportation market is fragmented and the vendors are adopting organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The boat and yacht transportation market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Boat and Yacht Transportation Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the boat and yacht transportation market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
Which are the Key Regions for Boat and Yacht Transportation Market?
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68% of the market’s growth will originate from Europe during the forecast period. Italy, UK, Germany, and The Netherlands are the key markets for the boat and yacht transportation market in Europe. Market growth in this region will be faster than the growth of the market in regions.
Factors such as the presence of a large coastline promoting recreational water events will facilitate the boat and yacht transportation market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The rising number of COVID-19 cases in Europe drastically affected the tourism and sports businesses in 2020. The increase in the number of COVID-19 cases in Europe negatively impacted the demand for boat and yacht transportation in H1 2020. However, with the relaxation of the strict lockdowns imposed by governments in the region in H2 2020, the demand for boat and yacht transportation witnessed a slight improvement when compared with H1 2020. Most of the vendors in the region have started the production of boat and yacht transportation and have also launched new variants of boat and yacht transportation to attract end-users. For instance, in July 2020, Bavaria Yachtbau GmbH launched Bavaria Vida 33, the first day-cruiser with an outboard engine. Such developments are expected to provide growth opportunities for vendors in the market during the forecast period.
What are the Revenue-generating Product Segments in the Boat and Yacht Transportation Market?
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The boat and yacht transportation market share growth by the boat segment will be significant during the forecast period. The global boat and yacht transportation market witnesses a strong demand for increased consumer engagement in marinas and recreational boating activities. The US and Europe are the largest markets for recreational boating, with the recreational boating industry in the US continuously witnessing growth over the last seven years (2011 to 2018). A large part of this growth stems from the marinas and charter services operating in the US.
This report provides an accurate prediction of the contribution of all the segments to the growth of the boat and yacht transportation market size and actionable market insights on post COVID-19 impact on each segment.
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Boat and Yacht Transportation Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.91% |
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Market growth 2021-2025 |
$ 539.95 million |
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Market structure |
Fragmented |
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YoY growth (%) |
1.07 |
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Regional analysis |
Europe, North America, APAC, South America, and MEA |
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Performing market contribution |
Europe at 68% |
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Key consumer countries |
Italy, UK, Germany, US, and The Netherlands |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
A.P. Moller - Maersk AS, Andrews Trucking Ltd., Boat Shipping USA LLC, CEVA Logistics AG, Joule Yacht Transport Inc., KAR Auction Services Inc., One World Shipping Network Inc., Peters & May Ltd., Spliethoff Group, and United Yacht Transport |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Boat and Yacht Transportation Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive boat and yacht transportation market growth during the next five years
- Precise estimation of the boat and yacht transportation market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the boat and yacht transportation industry across Europe, North America, APAC, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of boat and yacht transportation market vendors
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