Recreational Boating Market – Global Industry Analysis and Forecast (2017-2026)
Recreational Boating Market is estimated to reach US$ XX Bn by 2026 in terms of revenue at CAGR of XX % in the forecasting Period. Rising disposable income has resulted in increased travel and tourism activities across the globe, primarily driving the industry growth. Usage of these boats for numerous activities including boat racing, motorized water sports, sailing, and campaigning has positively impacted the excursion boat sales. High consumer confidence owing to advantages such as advanced technology and high-tech features will further escalate the recreational boating market revenue generation over the next eight years.
Recreational boating market players are focusing on adding various marine technologies in these pleasure crafts. Global navigation satellite system (GNSS) is a key trend, continuously gaining prominence in the industry. This system offers significant advantages to both the direct and indirect users. It is majorly used for surveillance and traffic management in both sea and inland waters. Moreover, these systems are used for various other purposes such as search & rescue and fishing vessel control. These advancements are likely to instigate immense potential to the industry size over the next eight years.Recreational Boating MarketThe Recreational Boating market is segmented based on product, power and geography. By product type of the recreational boating market is segmented into inboard boats, outboard boats, inflatable, and sailboats. An outboard boat is a major segment where the recreational boating is highly demanded and thus, it is expected to hold major market share in the forecast period. An easily accessed mounting position of outboard engines provides more space for the user, thereby shifting the consumer’s preference. This can also be attributed to the provision of benefits such as cost-effectiveness, easy maintenance & easy service abilities coupled with high reliability. By power, the market is segmented as engine-powered, man-powered, and sail propelled.
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Geographically, the Recreational Boating market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to be the largest market for Recreational Boating during the forecast period. Established marine industry in U.S. and Canada along with the continuously increasing number of participants involved in boating will primarily contribute to the revenue generation. As per the National Marine Manufacturers Association (NMMA), approximately 46% of the population in Canada participated in boating. Presence of key industry players such as Brunswick and American Sail Inc. across the region will further support the regional dominance till 2026. Europe is projected to be the fastest growing market for Recreational Boating with growth. Increasing manufacturing, especially in countries such as Italy will essentially drive regional growth.
Key player across the Recreational Boating industry are Beneteau, Sunseeker, American Sail Inc., MacGregor, Hunter, and Azimut-Benetti. The competitors are indulged in adopting mergers & acquisitions as their prominent strategy to enhance their visibility in the industry. For instance, in July 2016, Brunswick acquired Thunder Jet, a designer, and manufacturer of aluminum boats. It helped Brunswick in expanding their portfolio and strengthen its position in the industry.
Market Scope of the Recreational Boating Market
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Recreational Boating Market, By Product
• Inboard Boats
• Outboard Boats
• Inflatable
• Sail Boats
Recreational Boating Market, By Power
• Engine-Powered
• Man-Powered
• Sail Propelled
Recreational Boating Market, By Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players operating in the Recreational Boating Market:
• Brunswick
• Ferretti
• Malibu Boats
• Beneteau
• Sunseeker
• American Sail Inc.
• MacGregor
MAJOR TOC OF THE REPORT
Chapter One: Recreational Boating Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Recreational Boating Market Competition, by Players
Chapter Four: Global Recreational Boating Market Size by Regions
Chapter Five: North America Recreational Boating Revenue by Countries
Chapter Six: Europe Recreational Boating Revenue by Countries
Chapter Seven: Asia-Pacific Recreational Boating Revenue by Countries
Chapter Eight: South America Recreational Boating Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Recreational Boating by Countries
Chapter Ten: Global Recreational Boating Market Segment by Type
Chapter Eleven: Global Recreational Boating Market Segment by Application
Chapter Twelve: Global Recreational Boating Market Size Forecast (2019-2026)
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