Qatar Boat Market (2024-2030) | Size, Industry, Growth, Revenue, Forecast, Trends, Analysis, Share, Outlook, Value & Companies

Qatar Boat Market Highlights

Report Name	Qatar Boat Market
Forecast period	2024-2030
CAGR	5.2%
Growing Sector	Commercial, defense, and security

Topics Covered in the Qatar Boat Market

Qatar 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.

Qatar Boat Market Synopsis

Qatar Boat Market is growing at a steady pace, and the government's efforts to enhance tourism in the country have given a significant boost to the industry.

According to 6Wresearch, the Qatar Boat Market size is anticipated to grow at a CAGR of 5.2% during the forecast period of 2024-2030. Qatar has been investing and enhancing its marine infrastructure over the years, with the aim of hosting international sailing events. Additionally, the government has liberalized several regulations, which has led to growth in boat tours and water activities. The increasing popularity of water sports such as jet skiing, wakeboarding, and surfing has also led to this growth. Furthermore, the rise of the high-net-worth individuals has stimulated the yacht market demand across the whole country. Moreover, the market has been witnessing several trends. One of the most significant trends is customers' demand for yachts and boats designed with advanced technology features. Another trend in the boat market is the rising number of boat rental services, particularly during the summer season.

Additionally, the trend for eco-friendly yachts and boats that are environmentally sustainable has risen as consumers recognize the need to protect the oceans, which will have a positive impact on the marine industry. Despite this, the high cost of boat ownership, maintenance, repair, and insurance, which is high in comparison to other Gulf countries hinders the market development. Nevertheless, the Qatar boat industry presents many opportunities, including the need for more and larger marinas to accommodate increasing numbers of tourists and boats. Moreover, the rising demand for boat and yacht repair and maintenance services, coupled with the country's relatively high disposable income, presents opportunities for growth.                                                                            

Government policies and schemes introduced in the Qatar Boat Market

The government policies introduced in Qatar have had a significant impact on the Qatar Boat Market Growth. One of the policies introduced by the government to boost the sector is the 100% ownership for foreign investors in the boat market. This has encouraged foreign investors to invest in the sector and has led to an increase in the number of boats in the country. Additionally, the government passed a law that enables boat owners to import their boats into Qatar without paying taxes. This has made it more affordable for individuals to own boats. The government also provides subsidies and incentives for local boat manufacturers and has established partnerships with international boat manufacturers.

Key players in the Qatar Boat Market

The Qatar boat industry has attracted various key players, such as Gulf Crafts, Al Shaali Marine, and Al Koot Insurance and Reinsurance Company. Gulf Crafts is the major yacht and boat manufacturer in the country. Al Koot Insurance and Reinsurance Company offer marine insurance for private yachts and boats while Al Shaali Marine focusses in manufacturing boats for commercial purposes.

Future insights of the Qatar Boat Market

The Qatar boat market is anticipated to grow during the forecast period. The increase in marine tourism in the country, the growth of the boating industry, and the introduction of innovative boats are some of the factors responsible for the Qatar Boat Market Growth. Additionally, the country is gearing up to host two major international sports events - the FIFA World Cup 2022 and the World Aquatic Championships 2023. These events are expected to attract more tourists to the country, which will further boost the boat market. The future of the Qatar boat market looks promising. The government is taking steps to develop the infrastructure and enhance the competitiveness of the industry. This includes the development of port facilities, marinas, and boatyards.

Market by Type

According to Suryakant, Senior Research Analyst, 6Wresearch, the outboard boats, which are powered by an engine mounted outside the boat, is the largest segment and expected to lead the Qatar Boat Market Share in the future years. On the other hand, the inboard boat segment, which uses an engine inside the boat, is projected to grow rapidly due to its higher power and better fuel efficiency, making it popular among boating enthusiasts with larger boats.

Market by Power

In terms of Power, the former segment is expected to hold the dominant position in the market. However, the sail-propelled boats segment is growing at a steady rate due to its increasing popularity with eco-friendly enthusiasts who prefer to harness the power of the wind.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023.
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Qatar Boat Market Outlook
• Market Size of Qatar Boat Market, 2023
• Forecast of Qatar Boat Market, 2030
• Historical Data and Forecast of Qatar Boat Revenues & Volume for the Period 2020-2030
• Qatar Boat Market Trend Evolution
• Qatar Boat Market Drivers and Challenges
• Qatar Boat Price Trends
• Qatar Boat Porter's Five Forces
• Qatar Boat Industry Life Cycle
• Historical Data and Forecast of Qatar Boat Market Revenues & Volume By Type for the Period 2020-2030
• Historical Data and Forecast of Qatar Boat Market Revenues & Volume By Outboard for the Period 2020-2030
• Historical Data and Forecast of Qatar Boat Market Revenues & Volume By Inboard for the Period 2020-2030
• Historical Data and Forecast of Qatar Boat Market Revenues & Volume By PWC for the Period 2020-2030
• Historical Data and Forecast of Qatar Boat Market Revenues & Volume By Others for the Period 2020-2030
• Historical Data and Forecast of Qatar Boat Market Revenues & Volume By Application for the Period 2020-2030
• Historical Data and Forecast of Qatar Boat Market Revenues & Volume By Fishing for the Period 2020-2030
• Historical Data and Forecast of Qatar Boat Market Revenues & Volume By Watersports for the Period 2020-2030
• Historical Data and Forecast of Qatar Boat Market Revenues & Volume By Sailing for the Period 2020-2030
• Historical Data and Forecast of Qatar Boat Market Revenues & Volume By Others for the Period 2020-2030
• Historical Data and Forecast of Qatar Boat Market Revenues & Volume By Power for the Period 2020-2030
• Historical Data and Forecast of Qatar Boat Market Revenues & Volume By Engine-Powered Boats for the Period 2020-2030
• Historical Data and Forecast of Qatar Boat Market Revenues & Volume By Sail-Propelled Boats for the Period 2020-2030
• Qatar Boat Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Application
• Market Opportunity Assessment By Power
• Qatar Boat Top Companies Market Share
• Qatar Boat Competitive Benchmarking By Technical and Operational Parameters
• Qatar Boat Company Profiles
• Qatar 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
• Water sports
• Sailing
• Others

By Power

• Engine-Powered Boats
• Sail-Propelled Boats

Qatar Boat Market (2024-2030): FAQs