United States GRP Boats Market was valued at USD 0.9 Billion in 2022 and is projected to reach USD 1.4 Billion by 2030, growing at a CAGR of 6.8% from 2024 to 2030.
The US GRP Boats Market has been steadily growing over the past few years, driven by increased demand from various industries, particularly for recreational and commercial purposes. Glass Reinforced Plastic (GRP) boats, made from a composite material of glass fibers and resin, have become increasingly popular due to their durability, lightweight properties, and resistance to corrosion. These boats are commonly used in sectors like leisure, tourism, fishing, and defense, which are all contributing to the market's expansion.
One of the key factors fueling the growth of the GRP boats market is the surge in recreational boating activities across the United States. The need for leisure vessels, including yachts, motorboats, and sailing boats, is on the rise as people seek more outdoor experiences. The affordability and low maintenance requirements of GRP boats make them an attractive option for both new boaters and seasoned enthusiasts. According to recent trends, over 70% of boat owners prefer GRP boats for their easy handling and long-term performance.
Another major driver of the GRP boats market is the commercial sector, particularly in the fishing and transport industries. Fishing boats made from GRP materials are highly sought after due to their resilience against saltwater exposure and rough sea conditions. Additionally, the transportation of goods over waterways is becoming more cost-effective with the use of GRP boats, as they provide an ideal balance of strength and weight. This sector accounts for a significant share of the market, with demand rising in coastal regions where water transport is key to logistics.
Defense and military sectors have also been contributing to the growing demand for GRP boats. Their non-corrosive properties make them highly suitable for use in harsh environments. These boats are often used for search-and-rescue missions, patrol operations, and other critical defense applications. The lightweight and durable nature of GRP boats makes them highly versatile in various defense operations.
In addition to the leisure, commercial, and defense sectors, the growing emphasis on sustainability is driving the market. GRP boats are often seen as an environmentally friendly alternative to traditional boat-building materials, offering reduced carbon footprints due to their longevity and resistance to wear and tear. With an increasing focus on eco-friendly solutions across industries, the demand for GRP boats is expected to remain strong, further solidifying their place in the market.
As the US GRP boats market continues to evolve, we can expect further advancements in boat designs, material compositions, and manufacturing technologies, which will cater to the rising demands of both consumers and industries alike. These innovations will likely lead to even more competitive pricing and performance, solidifying the GRP boat as the go-to solution for various boating needs.
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Cobra Yacht
Chaparral
Finnmaster Boats Oy
itBoat
Zarwan Fiber Glass Factory
Northbank
Acaster Marine Ltd
David Mawby LTD
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US GRP Boats Market
Rigid Boats
Inflatable Boats
Leisure and Recreation
Fishing
Military and Defense
Commercial
Small Boats
Medium Boats
Large Boats
Fiberglass
Aluminum
Wood
Plastic
Outboard Engine
Inboard Engine
Jet Drive
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US GRP Boats Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US GRP Boats Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US GRP Boats Market, By Type
6. US GRP Boats Market, By Application
7. US GRP Boats Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US GRP Boats Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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