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24.01.2021, adminAs with any industry, the boating industry is fiercely competitive. It is also facing challenges due to environmental changes as well as changes in the way people spend their recreation time. Fuel, specifical ethanol, is also an ongoing concern. Consequently, boats are becoming more powerful, more luxurious, and more energy-efficient as the industry attempts to meet these challenges and allow water lovers worldwide to enjoy it in the only way it was meant to be enjoyed�at near-zero speed.
That is correct; while they are on the water, most boats are used for fishing and relaxing, which means that most of the time, boats are sitting still.
That said, there are a lot of economic and dynamic things happening on a boat floating peacefully on the water. Although recreational boating is popular, the most popular use for boating is fishing. Whereas the increase in fishing just a few years ago was up two to four percent, it dropped in Ethanol-based fuel is standard for the automotive industry at a rate of 15 percent of total volume.
However, for traditional boat motors, nothing above 10 percent is recommended. That said, E15 fuel, which is a fuel with percent ethanol, is less expensive than E10 and other lower-ethanol mixtures. Because of this, it is tempting to fuel up at local gas stations.
However, until recently, E15 sales have been restricted through the summer months, which means boaters cannot use it. Recent legislation will now allow E15 to be sold throughout the year. Ethanol rots O rings in boat motors. Consequently, motor repairs are projected to increase as budget-minded boaters purposefully or mistakenly fill up at the gas station instead of at the marina.
Although some boaters will have to be wary of E15 fuel, the need for worry is on a gradual and steady decline as the usage of diesel engines throughout the boating industry becomes more popular.
The growth rate is projected to maintain a steady increase in diesel engines. Kill switches are an increasingly popular device for boat owners. When pressed, they perform as advertised, killing the engine quickly in the event of an emergency or pending disaster. These devices will work much like kill switches attached to treadmills in that the kill switch will attach to the body of someone, and the cord will attach to a kill-switch trigger. If someone falls out of the boat, the cord will pull the kill switch, disconnect the connection, and stop the engine.
From fishing boats to yachts, the boat-rental industry is enjoying steady growth for business-to-consumer boat rentals. This growth is so strong that rentals are projected to continue growing through In terms of boat popularity, smaller boats at a length of up to 28 feet rank second, while boats ranging in length of 28 to 45 feet represent the strongest category in terms of popularity and revenue.
Although boat rental for larger boats exceeding 45 feet remains strong, the market for this boat size is much smaller. In terms of usage, touring and charter rentals are popular, but direct-to-customer rentals represent the strongest area of growth. Falling in at a respectable fourth place are boats rented for day cruises. Many lakes worldwide are experiencing dropping levels as the water supply diminishes due to global warming. Additionally, the surrounding areas of many managed lakes are owned by private citizens.
Consequently, access to water is being regulated, and many new owners of the lakefront property must wait in line for new boat-slip permits. Similarly, as demand grows, many lakes are regulating the number of boats that can be on the water at any given time in an attempt to fight congested waters and lower the number of boat collisions.
Perhaps because boats are expensive, the average age of boating customers has always been in the middle-age range. However, the median age is increasing as younger people opt for other activities.
Currently, the median age range is just over 50 years. Unless boat manufacturers are able to target a non-white market, this trend of aging boat buyers will gradually increase. The best performers in the boating industry will recognize and capitalize on the fact that the boating market is becoming more diverse.
Hispanics represent a growing part of the boating market, and those boat companies that focus on family-oriented services will do very well serving this market segment.
Asians represent another growth market for boat manufacturers and boat-related accessories. Although boats still represent a relatively expensive option for recreation, their affordability is continuing to drive sales for personal watercraft as well as boat rental. This affordability has resulted from more efficient manufacturing techniques and better engine technology.
In terms of engine technology, fuel efficiency has been one of the factors that have contributed to the affordability of boats. While fishing is the top activity done upon a boat, family activities represent the largest category of growth for boat sales and rentals across the fishing, touring, and day-cruising markets. Because of the family-oriented boat market, pontoons are a very popular boat because they can serve as a fishing vessel and a water-based cabana.
Because the pontoon is so versatile , it represents a huge revenue opportunity for those involved with manufacturing and sales. For instance, a pontoon can be�and often is�decked out with high-performance motors along with marine-sized refrigerators and appliances.
Consequently, they are a revenue mainstay for boat sellers capable of customizing to customer needs. Skip links Skip to primary navigation Skip to content.
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