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Recreational Boating market Growth
WILMINGTON, NEW CASTLE, DE, UNITED STATES, January 7, 2025 /EINPresswire / -- According to the report published by Allied Market Research, the global recreational boating market generated $29.0 billion in 2019, and is expected to garner $35.4 billion by 2027, witnessing a CAGR of 5.1% from 2020 to 2027. The report provides an extensive analysis of changing market trends, major segments, key
investment pockets, value chain, regional scenario, and competitive landscape.
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Recreational boating is a leisurely activity of traveling on water in a boat. Many individual use this for fun and pleasure activities during outing with family and friends. Recreational boating includes many activities such as boat racing, sailing, campaigning, fishing, and other water sports game such as powerboat racing, sports fishing, kayaking, and others. Recreational boating is usually done for the purpose of making the experience of tourism more enjoyable.
Recreational boats, also known as pleasure crafts, are available in different types, including, towboats, sailboat, fishing boat, pontoon boats, and cabin cruisers. These boats are primarily made up of plastic, aluminum, and coated fabrics. Recreational boating events are open to all kinds of boats such as engine powered, sail powered, or man powered.
Key Players:
Azimut Benetti Group,
Groupe Beneteau,
Brunswick Corporation,
Marine Products Corporation,
Hobie Cat Company,
Polaris Inc,
Mastercraft Boat Holdings, Inc,
White River Marine Group,
Sunseeker International Limited,
Yamaha Motor Co., Ltd.
The report offers detailed segmentation of the global recreational boating market based on power, product type, activity type, size, and region.
Based on power, the engine powered segment accounted for the highest market share in 2019, holding nearly three-fourths of the total market share, and is expected to maintain its leadership status during the forecast period. Moreover, this segment is projected to manifest the highest CAGR of 5.6% from 2020 to 2027.
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Based on product type, the inboard boats segment contributed to the highest share in 2019, accounting for nearly two-fifths of the global recreational boating market, and is estimated to continue its dominant share in terms of revenue during the forecast period. However, the personal watercrafts segment is expected to manifest the fastest CAGR of 8.0% from 2020 to 2027.
Based on region, Europe held the highest market share in 2019, accounting for more than half of the total share, and is estimated to maintain its lead position by 2027. However, LAMEA is projected to witness the fastest CAGR of 7.4% during the forecast period.
The factors such as growing interest toward recreational water sport activities and rising water-based tourism, are anticipated to drive the market growth. However, high initial & ownership cost of recreational boats and environmental concerns associated with recreational boating are expected to hinder the market growth . Further, technological advancement in boats & boat engines and growing high net-worth population are some of the factors expected to offer lucrative opportunities for the market growth during the forecast period.
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About us :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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