The global pontoon boat market is expected to grow from US$ 2,132.97 million in 2021 to US$ 4,089.97 million by 2028; it is estimated to grow at a CAGR of 9.7% during 2021-2028.

The pontoon boat market is experiencing evolution constantly. From being a simple boxy floating boat to luxury-laden pleasure-boat, pontoon boat provides a relaxing experience to individuals for invigorating thrill rides. Pontoon boats are used for different purposes such as swimming, cruising, and watersports, as well as for lounging. For recreational activities, such as skiing, wakeboarding, and tubing, the boats have tow-bits and storage lockers, which are large enough to hold water skis or kneeboards, and swim platforms with large and stable ladders for climbing on/off the boat. Pontoon boats are the flat-deck boats powered by an outboard engine. These boats have square/rectangular shapes that make them ideal for choppy/rough water. The pontoon boats are also broadly used in lakes for entertainment, lounging, and fishing purposes. These boats have large deck space, that adds more seating space; extra storage space; and luxury, comfort, and additional room for different activities according to users' interest.

The growing boating industry, especially recreational boating across the globe, drives the growth of the pontoon boat market. Also, rise in the sales of deck and pontoon boats due to the rising passengers for watersports & recreational activities will play a magnificent role in generating demand for pontoons. Moreover, with the emergence of IoT-based applications, the trend of real-time tracking and smart boat is picking up its pace. The integration of IoT in pontoon boat is expected to create lucrative business opportunities for the pontoon boats manufacturers and providers in the coming years. However, the low speed and inefficient performance of pontoon boats on rough water restrain the growth of the pontoon boat market.

Impact of COVID-19 Pandemic on Pontoon Boat Market

The COVID-19 pandemic has shaken several industries. The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicles and human movement due to travel bans, mass lockdowns, and business shutdowns. The lockdown imposition has resulted in the lesser production of commodities, goods, and services.

In 2020, the continuous growth in the number of virus-infected patients had governments put a bar on the transportation of humans and goods. The manufacturing sector has witnessed severe losses due to the temporary shutdown of factories and low production volumes, which has had a negative impact on pontoon boats globally. Additionally, governments' social or physical distancing measures have led ship manufacturers to limit their operations. Therefore, the pontoon boat market had a negative impact during 2020.

However, in 2021, with the uplifting of lockdown and vaccination processes, the manufacturing of pontoon boats has started again. Further, to overcome the challenges posed by the COVID-19 outbreak, the pontoon boat manufacturers are focusing on increasing product innovation and keeping consumers' requirements in mind will lead to increased demand. Therefore, the global pontoon boat market is growing steadily.

Based on type, the pontoon boat market is segmented into bar boat, rear lounge, quad seating, arch models, and double decker. In 2020, the rear lounge segment led the market, accounting for the largest share. Based on tube type, the pontoon boat market is bifurcated into double tube and triple tube. In 2020, the triple tube segment accounted for a larger market share. Based on propulsion type, the pontoon boat market is segmented into single engine, double engine, and electric motor. In 2020, the double engine segment accounted for the largest market share. Based on size, the market is segmented into less than 20 feet, 20-30 feet, and more than 30 feet. In 2020, the 20-30 feet segment accounted for the largest market share. Based on application, the pontoon boat market is segmented into fishing, watersports, recreational, and others. In 2020, the recreational segment accounted for the largest market share. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for the significant share in the global market.

The overall pontoon boat market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the pontoon boat market with respect to all the segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions-North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the pontoon boat market.

A few key companies operating in the pontoon boat market are ALOHA PONTOONS, Kiwi Kraft Ltd., Nazareth Boats, Polaris Inc., Swiss-Boats AG, BRP, SUN TRACKER BOATS, PONTOONBOOT, SEA-AND-YACHTING.COM, and floatingterrace.eu.