Recreational boats are generally, vessels that are manufactured or to be used specifically for non-commercial use or leased or rented for any given commercial use later on. Such boats are utilized for sailing, fishing, travel through waterways, and leisure purposes which are specifically for private use. As rising popularity of outdoor activities and water sports with increasing participation of young crowd to engage in such activities, especially in adventure water sports and recreational boating activities are likely to push the recreational boat market revenue. A growing trend in recreational fishing and sea outing has seen major growth in North America, European cost lines, and Caribbean island cluster. On the luxury end, speed boats, yachts, and house boats have seen tremendous demand from the wealthy population. With the exception to the definition of the recreational boat, large investment in rental boat segment has seen growth as major population opts rental recreational boats for such activities have lured in the big market players to pump investment into recreational boat rental market which subsequently adding growth in the sale of recreational boat market.
The research goes into detail on the elements that drive market growth, including significant opportunities, growth drivers, as well as opportunities. Furthermore, it builds on previous data and the present business environment to forecast the industry's performance from 2022 to 2028. The study includes an extensive analysis of the workings of this business industry at regional and country levels in order to assess the industry size at a global level. Further, the study literature examines the dominating actors and assesses the techniques they use to maintain their position in the competitive arena. The present and predicted impact of the Covid-19 epidemic has also been considered, with a particular focus on income-generating opportunities and techniques to deal with the shifting situation.
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Key Industry Players in Recreational Boat Market:
- Brunswick Corporation
- Groupe Beneteau
- Malibu Boats
- Polaris Inc.
- MasterCraft Boat Company
- Candela
- DOMANI Yachts
- Edorado Marine
- Elco Motor Yachts
- Electracraft and other major players.
- Brunswick Corporation
- Groupe Beneteau
- Malibu Boats
- Polaris Inc.
- MasterCraft Boat Company
- Candela
- DOMANI Yachts
- Edorado Marine
- Elco Motor Yachts
- Electracraft and other major players.
The recreational boat market increases largely with increasing trend of the tourism industry. Since the past decade, this market has shown its potential to grow along with the tourism industry, especially for the sales of pontoons, cruises and water sports boats. Personal watercraft and used boat sales also increased over these years for providing a great holiday for its buyers and leasing businesses on a seasonal basis.
Segmentation Analysis Includes,
By Type:
- Yachts
- Sailboats
- Personal Watercraft
- Inflatables
- Others
By Engine Type:
- Ice
- Electric
By Engine Placement:
- Outboards
- Inboards
- Others
By Region:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
- Middle East Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of SA)
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Key Benefits:
- This study presents analytical depiction of the global recreational boating market analysis along with current trends and future estimations to depict imminent investment pockets.
- The overall global recreational boating market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global recreational boating market with a detailed impact analysis.
- The current global recreational boating market is quantitatively analyzed from 2022 to 2028 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
This segment's large share and trend is primarily supported by several benefits that come with these recreational boats, such as more power per pound than inboard motors, easy control, efficient boat swapping, extra space, easy access engine maintenance, and a wide range of power colors. Factors like reduced price and greater cruising and top pace further enhance its dominance.
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The COVID-19 pandemic has severely impacted the overall boating recreational industries across the globe. The adoption of recreational boats was low across Europe, Asia-Pacific, Latin America, and MEA during the first second quarter of 2020 due to strict lockdowns imposed in several countries in these regions. Companies had put a temporary halt on manufacturing boats engines to prevent the spread of the virus. Consumers invested their spending on the essential commodities activities such as food supply, medicines, and grocery instead of leisure recreational activities, further posing huge losses for the boating industry players.
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