Small Boats Market Trends

Innovations in boat manufacturing, such as the use of advanced materials and the integration of smart technologies, have made small boats more efficient and appealing to consumers. Advancements in materials such as composites, aluminum alloys, and specialty foams allow for lighter and stronger boat hulls. In addition, GPS integration, autopilot features, and digital chart plotters are becoming increasingly common in small boats. These technologies enhance navigation accuracy, safety, and overall boating experience.  Further, electric motors offer quiet operations, lower emissions, and reduced maintenance compared to traditional gas engines. Companies operating in the small boats market are launching electric variants of small boats to stay competitive in the market.

For instance, in February 2024, Arc Boat company unveiled the Arc Sport, an electric wake boat designed for high performance with a massive battery and advanced software. This new model aims to modernize the electric boat segment with unprecedented performance capabilities. The electric propulsion in boats makes them environmentally friendly and quiet on the water. Along with this, the boats incorporate sophisticated software for performance optimization, navigation, and safety.

Moreover, government programs aimed at boosting tourism and outdoor recreational activities contribute to the growth of the small boats market. For instance, The Louisiana Department of Wildlife and Fisheries promotes boating safety and conservation, which indirectly supports market growth by ensuring sustainable use of waterways?. In addition, government support for water sports competitions or infrastructure development for activities such as kayaking or paddleboarding can spark interest in these pursuits, leading to increased sales of small boats.

Government funding for the development and maintenance of parks, waterways, and boat launches incentivize people to spend more time outdoors. This increased participation in outdoor activities creates a larger potential customer base for small boats. In January 2023, Canada’s National Recreational Boating announced the strategy which focuses on increasing safe and sustainable boating practices across Canadian waters. It includes funding for the development of boating infrastructure, such as docks and marinas, and educational campaigns on boating safety and environmental protection.