Recreational Boating Market Size by Product, Power and Region - Segment-Level Market Assessment, Growth Opportunity Analysis, Competitive Mapping & Forecast to 2030
Overview
The Recreational Boating Market size was valued at USD 17.86 Billion in 2023 and the total Recreational Boating revenue is expected to grow at a CAGR of 7.09% from 2024 to 2030, reaching nearly USD 28.86 Billion.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Recreational Boating Market Overview:
Rising disposable income has resulted in amplified 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 forecast period.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
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 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.
Segment Analysis:
The 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.
Recreational Boating Market Regional Analysis:
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 2030. 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 Highlights:
Market analysis and forecast, in terms of value.
Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Recreational Boating Market
The Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Recreational Boating Market are also profiled.
Recreational Boating Market Scope: Inquire before buying
| Recreational Boating Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | USD 17.86 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 7.09% | Market Size in 2030: | USD 28.86 Bn. |
| Segments Covered: | by Product | Inboard Boats Outboard Boats Inflatable Sail Boats |
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| by Power | Engine-Powered Man-Powered Sail Propelled |
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Recreational Boating Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players:
1. Brunswick
2. Ferretti
3. Malibu Boats
4. Beneteau
5. Sunseeker
6. American Sail Inc.
7. MacGregor
8. Hunter
9. Azimut-Benetti
10. Princess Cruise
11. Hobie Cat Corporation
12. Bavaria Yachtbau
13. Catalina Yachts
14. General Motors Company
15. Godfrey Marine
16. Honda Motor Company Limited
17. Hydra-Sports Boat
18. Interphase Technologies
19. Kawasaki Heavy Industries Limited
20. KCS International Incorporated
21. Pleasurecraft Engine Group
22. Poly Marquis Yach
23. Tognum AG
24. Yamaha Motor Company Limited.
Frequently Asked Questions:
1. Which region has the largest share in Global Recreational Boating Market?
Ans: North America region holds the highest share in 2023.
2. What is the growth rate of Global Recreational Boating Market?
Ans: The Global Market is growing at a CAGR of 7.09% during forecasting period 2024-2030.
3. What is scope of the Global Recreational Boating market report?
Ans: Global Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. What was the Global Recreational Boating Market size in 2023?
Ans: The Global Recreational Boating Market size was USD 17.86 Billion in 2023.