Boat hook market projected to expand at 3% to 5% CAGR through 2022-2032

Government activities and water tourism programs that aim at promoting marine tourism facilitate multiple opportunities for recreational boating. This, in turn, fuels market growth for boot hooks. Improvements in boat hooks made by manufacturers have increased their utility. This, too, contributes to the rise in sales of boat hooks in the global market.

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Rising consumer spending, especially by the younger generation, on leisure and sports activities, will augment the growth in the market over the forecast period. With rising disposable income, consumer interest in marine tourism and leisure activities is also increasing. Demand for activities like power boating, sailing, yachting, and others has substantially increased. Furthermore, adventure tourism is expanding its reach and quickly gaining traction. All these factors fuel market growth for boat hooks.

Key Takeaways from the Boat Hook Market Report:
Government initiatives will fuel the market growth over the forecast period. Investments by cruise companies in land-based private islands are predicted to raise the demand for boat hooks. The demand of the tourism industry will lead to a growth in recreational and leisure boating activities. This will foster the market growth in North America Recreational activities are expected to boost boat hook sales in the U.S. Europe boat hook market, with 32,000 enterprises and 280,000 direct employees, will grow at the fastest rate.

Competitive Landscape:
Davis Instruments, Shurhold Industries, SwiTec, Henssgen Hardware, Samco Sales, Inc., ShangHai 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, among others are the some of the key manufacturers of boat hooks profiled in the full version of the report.

Key players in the global boat hook market are investing in research and development activities so as to make improvements on available products as well as expand their product portfolios.