Global Recreational Boats Market, By Boat Type (Outboard Boats, Inboard Boats/Stern Type Boats, Personal Watercraft Boats, Sail Boats/Yachts, Inflatable Boats, Others), Power Source (Human Powered, Sail Powered, Engine Powered), Activity Type (Cruising and Water Sports, Fishing), Distribution Channel (Boat Dealers, Boat Shows/Events, Online Websites), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Recreational boats market size is valued at USD 35.49 billion by 2028 and is expected to grow at a compound annual growth rate of 5.00% over the forecast period of 2021 to 2028. Data Bridge Market Research report on recreational boats market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Recreational boats are the type of craft boats which are designed for pleasure activities on the water surface with family and friends. The materials used in the construction of the boats consist of coated fabric, aluminum and plastics. Also, it includes many water sports such as sailing, boat racing and fishing.
The recreational boats market has a huge potential to grow over the forecast period of 2021 to 2028, owing to the incorporation of new technologies in the boats. In addition, the escalating number of boat shows and tournaments as well as the high growth in the GDP and disposable income are also largely influencing the growth of the recreational boats market. Also the growing youth participation in sports and leisure activities and growing health awareness is estimated to propel the demand for proficient and durable recreational boats which are another driver flourishing the growth of recreational boats market. Also, due to the rapid increase in family tour boat rental practices is projected to witness significant growth in the above mentioned forecast period. However, the market of recreational boats though has certain limitations which can obstruct the potential growth of the market such as the attracting new families and youngsters to purchase as well as the stringent pollution norms for recreational boats, whereas the lack of qualified and experienced technicians have the potential to challenge the growth of the recreational boats market.
In addition, the increasing demand for outboard boats and retrofitting and continuance of boats will further offer various growth opportunities for the recreational boats market in the forecast period of 2021 to 2028.
This recreational boats market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on recreational boats market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Recreational Boats Market Scope and Market Size
Recreational boats market is segmented on the basis of boat type, power source, activity type and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of boat type, the recreational boats market is segmented into outboard boats, inboard boats/stern type boats, personal watercraft boats, sail boats/yachts, inflatable boats and others.
- The power source segment of the recreational boats market is segmented into human powered, sail powered and engine powered.
- Based on activity type, the recreational boats market is segmented into cruising and water sports and fishing.
- On the basis of distribution channel, the recreational boats market is segmented into boat dealers, boat shows/events and online websites.
Recreational Boats Market Country Level Analysis
Recreational boats market is analyzed and market size, volume information is provided by country, boat type, power source, activity type and distribution channel as referenced above.
The countries covered in the recreational boats market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
North America leads the recreational boats market because of the increased adoption of commercial adoption in this region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 owing to the increase in the per capita income in the emerging countries and the rise in the number of people who invest in the recreational activities have resulted in the increasing demand for the recreational boats in the region.
The country section of the recreational boats market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Recreational Boats Market Share Analysis
Recreational boats market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to recreational boats market.
The major players covered in the recreational boats market report are Brunswick Corporation, Groupe Beneteau, Azimut Benetti S.p.A., Sunseeker, Catalina Yachts, Marine Products Corporation, Inc., Polaris Inc., White River Marine Group., Carnival Corporation & Plc, Hobie Cat Company, Inc., FERRETTI S.P.A, MAHINDRA ODYSSEA., Bavaria Yachtbau, Moran Yacht & Ship, Inc., Baja Marine, Fountain Powerboats, Royal Caribbean International, Malibu Inc., Xylem and X Shore among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.