Published on : Aug 12, 2016
ALBANY, New York, August 12, 2016: From yachts, historically the symbols of luxury and prestige, the world of recreational luxury boating has now moved on to powerboats. With high-power engines, powerboats such as ski boats are being increasingly used for water sports. At present, the U.S. powerboat market is in its peak growth phase. As a result, ski boat manufacturers are concentrating on introducing faster and bigger boats that match the needs of extreme water sports enthusiasts. The rising variety of ski boats is expected to propel the U.S. powerboat market. These are some of the crucial findings of a new report recently added to the repository of ResearchMoz.us.
The report, titled ‘The U.S. Powerboat Market With Focus on Ski Boats: 2016-2020,’ states that the powerboat market in the U.S. is predicted to expand steadily during the period between 2016 and 2020 owing to the rising demand for ski boats from companies offering water sports activities. The demand for ski boats from individuals is also expected to increase in the coming years, which will propel the U.S. powerboat market, predict the report’s authors.
As per the findings of the 65-page report, the U.S. powerboat market is also driven by factors such as the growth of the tourism industry, the consistently rising participation in boating races, and the introduction of new ski boats. Falling gasoline prices will also boost the use of powerboats in the United States. Even though the market for powerboats in the U.S. is on the verge of rapid expansion, its growth will be affected by environmental issues and the prevalence of unfavorable weather conditions in a large part of the U.S. The shortage of power boat moorings will also affect the growth of the powerboat market in the United States.
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The U.S. powerboat market is highly fragmented, with many key companies contributing in a competitive environment. At present, manufacturers such as Brunswick Corporation, Marine Products Corporation, and Malibu Boats, Inc. are operating in the U.S. powerboats market. The market is led by Brunswick Corporation owing to their innovative boat designs and consistent introduction of new ski boats.
The popularity of powerboats in water sports is increasing in the United States. Available in many sizes, power boats can be classified on the basis of engine into inboard boats, outboard boats, jet boats, and sterndrive boats. A flurry of new powerboats and a consistently improving economy have benefited the U.S. powerboat market in the recent past. Going forward, the sale of new powerboats is expected to increase, which will encourage key manufacturers to add more innovations in their products. Apart from outboard boats and inboard boats, the demand for jet boats is also expected to increase, leading to further growth of the U.S. powerboat market.
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