The U . S . Powerboat Market With Focus on Ski Boats : 2016-2020 Executive Summary
Powerboat , also known as motor boat , is a relatively small watercraft propelled by an internal-combustion or electric engine . They range in size from miniature craft designed to carry one person to seagoing vessels of 100 feet ( 30 m ) or more . They can be broadly classified on the basis of engine as , Outboard boats , Inboard boats , Sterndrive boats and Jet boats .
The U . S . powerboat market increased at a significant CAGR during the span of 5 years , i . e . 2010-2015 and projections are made that the market would rise in the next five years , i . e . 2016-2020 tremendously . The upsurge in the market was largely driven by the rise in the demand for the ski boats among individuals as well as firms providing water sports activities .
The major growth drivers for the U . S . powerboat market are : rise in the adult boating participation & consumer confidence , the upsurge in the tourism industry & housing starts in the U . S . along with the decline in the gasoline prices . Despite the market is governed by various growth drivers , there are certain challenges faced by the market , such as aging population , environmental issues , regulatory framework , hostile weather conditions and shortage of boat moorings .
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