Vietnam Boat Market (2023-2029) | Analysis, Forecast, Revenue, COVID-19 IMPACT, Value, Share, Growth, Trends, Companies, Size, Outlook & Industry

Vietnam Boat Market Highlights

Report Name	Vietnam Boat Market
Base Year	2022
Historical Period	2019-2022
Forecast Period	2023-2029
Growth rate	XXXX
Report Coverage	Revenues & Volume, Market Trends, Drivers & Challenges, Market Forecast, Market Share
Segment Coverage	By Type, By Application, By Power
Customization Scope	100% customized reports available along with reliable data. Moreover, you can alter the segments, countries, and regions according to your needs. For further details, you can contact our research expert at sales@6wresearch.com
Pricing and Purchase Options	Avail customization purchase option to know the exact pricing of your research needs

Topics Covered in the Vietnam Boat Market

Vietnam Boat Market report thoroughly covers the market by type, by application and by power. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Vietnam Boat Market Synopsis

The Vietnam Boat Market has grown as recreational boating gains popularity among domestic and international tourists. Vietnam extensive coastline and numerous rivers and lakes offer ample opportunities for boating and water-based activities. The market caters to various types of boats, including motorboats, sailboats, and traditional wooden boats, providing options for leisure, fishing, and transportation purposes. Vietnam is known as one of the popular destinations for people from across the globe, underpinned by it consists of amazing coastal areas, rivers, and beautiful landscapes. hence the growing tourism industry in the country driving the demand for boat rentals, tours, and other water-related activities.

According to 6Wresearch, the Vietnam Boat Market size is growing rapidly at a CAGR of 8.9% to reach $55.4 billion during the forecast period 2023-2029. The market growth is driven by growing infrastructure development and cultural & social activities that include for boat-related activities. Furthermore, the Vietnam Boat Market has seen significant growth due to the country`s picturesque waterways and coastline, which offer ample opportunities for recreational boating and water-based activities. As the tourism industry in Vietnam expands, both domestic and international tourists are increasingly seeking unique experiences, contributing to the rising demand for boats. The market`s expansion is also fuelled by the growing interest in adventure tourism, with travelers looking to explore the country`s natural beauty and marine life. Additionally, the availability of various types of boats, including motorboats, sailboats, and traditional wooden boats, caters to diverse consumer preferences, further driving the Vietnam Boat Market growth. 

The Vietnam Boat Market faces challenges related to infrastructure development and environmental conservation. While recreational boating is growing in popularity, the availability of well-equipped marinas and docking facilities across the country may be limited. Moreover, as boating activities increase, there may be concerns about environmental impacts, such as water pollution and habitat disruption. Ensuring sustainable boating practices and responsible tourism is crucial to address these challenges and preserve Vietnam natural water resources. Despite these challenges, the market still has a wide scope to grow significantly the growing economic growth leads to the higher income level of the population, which allows people to spend more on entertainment activities, including boating. 

COVID-19 Influence on the Vietnam Boat Market

The Vietnam Boat Market faced significant challenges during the COVID-19 pandemic. With restrictions on travel and tourism, the demand for recreational boats and watercraft declined sharply. Boat rental services and tour operators faced severe disruptions, impacting their revenue streams. Additionally, boat manufacturers experienced delays in production due to supply chain disruptions and labor shortages, leading to a decline Vietnam Boat Market share. However, as domestic tourism gained traction and interest in outdoor recreational activities grew, the boat market saw some recovery. The popularity of boating as a safer and socially-distanced activity contributed to the market`s revival. Furthermore, the government`s efforts to promote domestic tourism and support the hospitality industry played a crucial role in stimulating the boat market. As international travel resumes and the tourism industry rebounds, the Vietnam Boat Market is expected to regain momentum.

Key Players of the Vietnam Boat Market

The market has numerous leading players operating tremendously in the country, which include:

• Thaco Marine
• Song Lo Shipbuilding Corporation
• Hong Ha Shipbuilding Company
• Quang Ninh Wooden Boat JSC
• Yamaha Motor Vietnam
• Mercury Marine Vietnam

Government Initiatives Introduced in the Vietnam Boat Market

The Boat Market in Vietnam has been securing massive growth in the country not only with some growing factors, nevertheless, the introduction of favorable government policies has also been playing a major role in supporting the market growth. Primarily, the Vietnamese government has been actively promoting boat export practices by providing financial incentives and trade promotion events. Also, the government is supporting boat manufacturers looking to expand their international existence. This initiative is a part of their strategy to boost the marine industry, contributing to market expansion. Furthermore, infrastructure development is another favourable initiative supporting the market, as the government has been investing on the development of ports and marines to ensure seamless boat transportation, ensuring the boat industry grows. 

Market Analysis by Application

According to Ravi Bhandari, Research Head, 6Wresearch, tourism-related activities, including water sports, may have seen growth over the recent years underpinned by Vietnam's efforts to promote its coastal and water-based tourism destinations. However, the demand for fishing boats remains stable due to the country's reliance on seafood production.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Vietnam Boat Market Outlook
• Market Size of Vietnam Boat Market, 2022
• Forecast of Vietnam Boat Market, 2029
• Historical Data and Forecast of Vietnam Boat Revenues & Volume for the Period 2019-2029
• Vietnam Boat Market Trend Evolution
• Vietnam Boat Market Drivers and Challenges
• Vietnam Boat Price Trends
• Vietnam Boat Porter's Five Forces
• Vietnam Boat Industry Life Cycle
• Historical Data and Forecast of Vietnam Boat Market Revenues & Volume By Type for the Period 2019-2029
• Historical Data and Forecast of Vietnam Boat Market Revenues & Volume By Outboard for the Period 2019-2029
• Historical Data and Forecast of Vietnam Boat Market Revenues & Volume By Inboard for the Period 2019-2029
• Historical Data and Forecast of Vietnam Boat Market Revenues & Volume By PWC for the Period 2019-2029
• Historical Data and Forecast of Vietnam Boat Market Revenues & Volume By Others for the Period 2019-2029
• Historical Data and Forecast of Vietnam Boat Market Revenues & Volume By Application for the Period 2019-2029
• Historical Data and Forecast of Vietnam Boat Market Revenues & Volume By Fishing for the Period 2019-2029
• Historical Data and Forecast of Vietnam Boat Market Revenues & Volume By Watersports for the Period 2019-2029
• Historical Data and Forecast of Vietnam Boat Market Revenues & Volume By Sailing for the Period 2019-2029
• Historical Data and Forecast of Vietnam Boat Market Revenues & Volume By Others for the Period 2019-2029
• Historical Data and Forecast of Vietnam Boat Market Revenues & Volume By Power for the Period 2019-2029
• Historical Data and Forecast of Vietnam Boat Market Revenues & Volume By Engine-Powered Boats for the Period 2019-2029
• Historical Data and Forecast of Vietnam Boat Market Revenues & Volume By Sail-Propelled Boats for the Period 2019-2029
• Vietnam Boat Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Application
• Market Opportunity Assessment By Power
• Vietnam Boat Top Companies Market Share
• Vietnam Boat Competitive Benchmarking By Technical and Operational Parameters
• Vietnam Boat Company Profiles
• Vietnam Boat Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Type

• Outboard
• Inboard
• PWC
• Others

By Application

• Fishing
• Watersports
• Sailing
• Others

By Power

• Engine-Powered Boats
• Sail-Propelled Boats

Vietnam Boat Market: FAQs