Market Size of Inflatable Boat Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 0.98 Billion |
| Market Size (2029) | USD 1.36 Billion |
| CAGR (2024 - 2029) | 6.75 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Inflatable Boat Market Analysis
The Inflatable Boat Market size is estimated at USD 0.98 billion in 2024, and is expected to reach USD 1.36 billion by 2029, growing at a CAGR of 6.75% during the forecast period (2024-2029).
The COVID-19 pandemic hindered the growth of the studied market as lockdowns and shutdowns of manufacturing units resulted in declined demand for inflatable boats. However, post-pandemic recreational activities witnessed a positive outlook market started gaining momentum and is likely to continue over the forecast period.
Over the longer-term forecast period, growth in recreational boating and the increasing popularity of pontoon boats and saltwater fishing vessels represent significant growth opportunities for the market studied. The major factors that will drive the growth during the forecast period in the market 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.
The use of inflatable boats for disaster management activities will be a major growth driver for the market as it has been experienced several times that counties are not prepared with enough safety equipment during emergency times. For instance, in India, Kerala floods in August 2019, the state had only a few inflatable boats concentrated in selected districts which delayed search and rescue operations. Furthermore, inflatable boats are seen readily accepted in several rescue operations which have elevated the overall demand during the study period.
Considering these mentioned factors, demand for inflatable boats is expected to remain positive during the forecast period.
