North America to remain a key market for boat trailers over the forecast period owing to the increasing marine tourism and recreational boating activities in the region.
NEWARK, DE / ACCESSWIRE / July 15, 2024 / According to Future Market Insights (FMI), the boat trailer industry size in North America reached USD 772.2 million in 2023. Over the forecast period, boat trailer demand in North America is anticipated to rise at 5.6% CAGR.
The industry is predicted to increase from USD 810.9 million in 2024 to USD 1,394.7 million in 2034. Increasing demand for personalized solutions, rising interest in water-based recreational activities, and demand for reliable and affordable boat transport trailers are shaping the trajectory of the boat trailer industry in North America.
The United States economy's stability and the relatively high levels of disposable income among consumers contribute to the growth of the boat trailer industry. The growing presence of well-developed infrastructure, including marinas, boat ramps, and accessible water bodies across the country, facilitates the growth of the boating industry.
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The ease of accessing water bodies with boats and the need for efficient transportation through trailers enhances the industry demand for boat trailers. With the introduction of virtual product demos, online sales platforms, and digital marketing tactics, the industry is going through a digital transformation. Due to the shift towards digital media, manufacturers and merchants can now reach a wider audience and offer better consumer experiences.
Manufacturers delivering comprehensive aftermarket services driven by customer-centric approaches are expected to drive the industry for boat trailers. The trend of e-commerce and online services is booming, enabling manufacturers and retailers to reach a broader target industry and positively impacting the industry for boat trailers in North America.
Key Takeaways from the North America Boat Trailer Industry Report:
The industry is predicted to reach USD 1,394.7 million in 2034.
By 2034, boat trailer demand in North America is anticipated to rise at a 5.6% CAGR.
Canada is expected to surge at a CAGR of 6.0% by 2034.
The United States is projected to rise at 5.4% CAGR by 2034.
Based on material type, the aluminum segment is set to grow at a CAGR of 5.7% by 2034.
Japan's burgeoning water sports enthusiasts are driving demand for boats and boat trailers, projected to reach US$20.34 million by 2034
Boat Trailer in Korea Market is expected to hit US$ 13.4 million at a CAGR of 5.3% during the forecast period 2024 to 2034
Boat Trailer Western Europe Market set to hit worth US$ 283.6 million at CAGR 3.7% during the forecast period 2024 to 2034
Boat Trailers Market size is estimated at USD 1,590 million in 2033 and is expected to expand at a compound annual growth rate (CAGR) of 4.5% from 2023 to 2033
"As several people are directed towards shopping trailers online, the boat trailer industry is impacted by the popularity of e-commerce and online shopping. Investing in digital marketing tactics and online sales platforms is expected to allow manufacturers and merchants to take advantage of this trend and expand their client base." - Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
Competitive Landscape:
North America's boat trailer industry is moderately fragmented, with leading players accounting for 40% to 45% of the share. The presence of established players shows a competitive landscape with high-quality standards of boat trailers. Manufacturers focus on continuous research and development to introduce innovative and advanced boat trailers with enhanced features, materials, and precision to meet evolving industry requirements.
Manufacturers engage in strategic acquisition with other product manufacturers and dealers to strengthen capabilities, expand industry reach, and stay at the forefront of technological advancements in the boat trailer industry.
For instance,
In 2022, Brown Gibbons Lang & Company (BGL) announced the sale of specialty trailers supplier Load Rite Trailers, Inc.
In 2023, Lippert Components, Inc. (Lippert) announced that its subsidiary, Kinro Texas, Inc., acquired Marine Trailer Performance (MTP).
24 Key Companies of the North American Boat Trailer Industry:
Alumaweld Boats, Inc.
Amera Trail. Inc.
Bear Trailer Manufacturing, Inc.
Boatmate Trailers Inc.
Continental Trailers (Waterlad Manufacturing Inc.)
EZ Loader
Four Winns
Karavan Trailers
Road King Trailers Inc.
Kropf Industrial Inc.
Load Rite Trailers Inc.
Magic Tilt Trailers Inc.
Magnum Trailers Inc.
Marine Master Trailers
McClain Trailers Inc.
Midwest Industries Inc. (ShoreLand'r)
Ram-Lin Custom Trailers Inc.
SH Distributing
HLT Limited
MYCO Trailers, LLC
Malibu Boats LLC - Trailers
Coyote Manufacturing Company
Venture Trailers
Tracker
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What are the key factors to increase the overall demand for boat trailers in the forecast period?
An increase in growth of recreational water sports and maritime tourism is expected to fuel the growth of the boat trailers market. Also, increase in marine tourism activities such as water skiing, kite surfing, yachting, boating, etc. is expected to upsurge the sales of new boats & crafts, and affirmatively affect the growth of the boat trailers market.
Growth in maritime tourism and water recreational activities, increases the demand for new boats which ultimately will boost the market of boat trailers over the forecast period. This is a differentiating factor which is contributing to the increased demand for boat trailers for marine as well as automotive industry.
The main advantage of a boat trailer is that it offers the flexibility to transport boats to various places such as rivers, lakes, inlets, bays and the sea. Manufacturers of boat trailers are focusing on making aluminium and galvanized steel boat trailers due to their lightweight and corrosion-resistant properties.
Different types of boat trailers are used for different load capacities where the wet weight of the boat is the most important for trailers. These are some of the key factors further aiding to demand for boat trailers in the forecast period.
North America Boat Trailer Industry Segmentation by Category:
By Material Type:
-
Aluminum
Single Axle
Tandem Axle
Triple Axle
-
Galvanized Steel
Single Axle
Tandem Axle
Triple Axle
By Product Type:
Bunk Trailers
Roller Trailers
Hybrid Trailers
By Load Capacity:
Up to 1,500 Kg
1500 Kg to 3,000 Kg
3,000 Kg to 4,500 Kg
More than 4,500 Kg
By Country:
-
United States
Northeast United States
Southeast United States
Southwest United States
Midwest United States
West United States
-
Canada
The Atlantic Provinces
Central Canada
Prairie Province
The West Coast
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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