According to a recent study, the global boat hook market share is predicted to shape up with a CAGR of 3% to 5% between 2022 and 2032. Increasing boating activities fueled by the increase in use of recreational boats is expected to boost the demand for boat hooks. Europe is the fastest growing region in the boat hook market.
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What is Driving Demand For Boat Hook
A boat hook is a boating accessory. Its most common use is as a docking and undocking assistance. Although it may resemble a pike pole, it must have a blunt point for undocking and a hook for docking. It may also have a line attached to the opposite end for this purpose, which may be supplied with a ring.
The typical boat hook has received a number of improvements that have increased its utility. Many of them make it simple and safe for boaters to attach a line to a dock cleat, ringed mooring buoy and mooring ring.
The typical boat hook’s utility will be much increased, and berthing will be greatly simplified. Some systems may be equipped with carbine hooks, which can be used to retrieve things or people from the sea, such as in a man overboard incident.
Recreational boating has become one of the most popular leisure activities throughout the years. Fishing, kayaking, water skiing, canoeing, and other recreational activities are becoming increasingly popular among boat enthusiasts.
Growing interest in marine leisure sports and activities, particularly among younger age groups, is hastening boat adoption. This is expected to propel the demand for boat hooks.
Customers’ disposable money has increased, and their interest in maritime tourism and leisure activities such as sailing, power boating, yachting, and others has increased significantly in recent years. In addition, adventure tourism is rapidly expanding, and cruise adventures are feeling the effects.
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Furthermore, many cruise companies are investing in land-based private islands, allowing them to provide clients with exclusive beach time as an add-on to their aboard experience. This will boost the demand for boat hook.
The natural landscapes of countries with a sea/ocean as a boundary attract a large number of international tourists each year, particularly from the affluent class.
These countries are also popular choices for some promotional events and gatherings that require the use of luxury vessels.
Furthermore, favorable government initiatives and water tourism awareness programs aimed at promoting marine tourism are opening up a plethora of potential for the recreational boating sector which in turn is growing the demand.
US and Canada Demand Outlook of Boat Hook
Retail unit sales of new powerboats grew 4% in 2019, according to the National Marine Manufacturers Association (NMMA), which includes recreational boat, motor, and marine equipment manufacturers across the United States.
Furthermore, the region’s fast increasing tourism industry has resulted in a growth in recreational and leisure boating activities such as boat racing and water sport games, which has bolstered the region’s outlook.
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Europe Boat Hook Sales Outlook
Over the predicted period, Europe is expected to grow at the fastest rate. The regional market is expected to develop because to rising demand for recreational boats in nations such as the United Kingdom, France, Germany, Italy, and Spain.
The area market is expected to rise due to an increase in persons participating in recreational boating activities. In addition, the growing number of recreational boating events and trade exhibits sponsored by manufacturers are aiding the market’s expansion in Europe.
The European boating industry is a vibrant and competitive sector that contributes significantly to the European economy.
Boat builders, engine makers, equipment manufacturers, trade and service providers make up the whole industry, which has around 32,000 enterprises and employs over 280,000 people directly.
Some of the leading manufacturers and suppliers include
- Davis Instruments,
- Shurhold Industries,
- SwiTec,
- Henssgen Hardware,
- Samco Sales, Inc.,
- Shang Hai Orange Metal Products Co., Ltd.,
- DEYUAN MARINE CO., LTD.
- , Decorstainless International Co., Ltd.
- Zhenjiang Longyear Marine Equipment Co., Ltd.,
- Lexco Cable Manufacturers,
- Wichard, Inc.,
- C. Sherman Johnson Co., Inc.,
- Batz Corporation and others.
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