The Global Recreational Boat Market to Reach Revenues of Over $56 Billion During the Period 2020 −2025 - Market Research by Arizton

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Mar 17, 2020, 10:16 ET

CHICAGO, March 17, 2020 /PRNewswire/ -- According to Arizton's recent research report, Recreational Boat Market - Global Outlook and Forecast 2020-2025 is expected to grow at a CAGR of approximately 12% during the period 2019−2025.

Key Highlights Offered in the Report:

Propelled by the growing demand in developed countries such as the US and the UK, global outboard boat market is expected to register a CAGR of over 9% in terms of revenue during the period 2019−2025.
The personal watercraft (PWC) segment is expected to witness incremental growth of over $2 billion in terms of revenue during the forecast period.
The growing adoption of luxury lifestyle in Europe, the market in this region is likely to generate immense opportunities for vendors, posting a CAGR over 10% by 2025.
North America has emerged as the largest market occupying over 50% share of the global recreational boat market.
The increase in family tour boat rental practices would boost demand during the expected period. 4-stroke engines are likely to retain supremacy due to high-power output and reduced environmental impact.
Cruising activities is expected to drive the recreational boat market, accounting for a CAGR over 11% during the forecast period.

Key Offerings:

Market Size & Forecast by Revenue | 2019−2025
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by product, power, activity, and geography
Competitive Landscape – Profile of 5 key vendors and 33 other vendors

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Recreational Boat Market – Segmentation

Inboard boats are a relatively higher price than outboard models, which have significantly affected the growth of the segment. Although the market growth in terms of unit shipment despite several challenges in the past five years, the inboard segment continues to account for the largest revenue share.
A spurt of tourism across the globe has boosted the sale of sail-powered boats. The increasing youth participation in sports and leisure activities and rising health awareness are driving the segment.
The ocean cruise ship capacity is likely to increase by 48% from 2018 to 2027, which is expected to provide the push to the cruise industry. These activities are expected to push the sale of recreational boats across the globe.

Market Segmentation by Product

Outboard
Inboard/Sterndrive
Personal Watercrafts (PWC)
Superyachts
Others

Market Segmentation by Power

Engine-powered
Man-powered
Sail-propelled

Market Segmentation by Activity

Cruising
Watersports
Fishing

Recreational Boat Market – Dynamics

With the advancement in technology, the market for electric boats has witnessed significant growth over the past two years. Electric boats, particularly hybrid ones where the electric motor doubles as a mechanically spun generator, is now experiencing more uptake in the leisure sector but has historically been more prevalent in working boats. Additionally, developed regions such as Norway, one of the key countries for recreational boats, has significantly begun adopting electric-powered boats in its infrastructure plans. With the rising popularity of autonomous ships, the technology is moving forward, especially in Norway.

Key Drivers and Trends fueling Market Growth:

Advancements in Marine Technology
Expected Growth in Consumer Confidence
Rising Demand for Outboard Power Boats
Rising Participation in Leisure Boating Activities in Europe

Recreational Boat Market – Geography

The presence of major manufacturing facilities in the region is a major driver for the growth of the US recreational boat market. With rising consumer confidence, the manufacturers are introducing new products to attract the younger generation. New sales and recreational boating expenditure grew for the eighth consecutive year in 2019, and this trend is expected to continue in 2020. Low-interest rates, rising disposable income, consumer spending, and healthy growth in the housing market are expected to have a positive impact on leisure activities during the forecast period. The recreational boat market in North America accounts for than 75% share of the global market through sales of new and used boats; marine products such as engines, trailers, equipment, and accessories; and related expenses such as fuel, insurance, docking, storage, and repairs.

Get your sample today! https://www.arizton.com/market-reports/recreational-boat-market-size-analysis-2025

Market Segmentation by Geography

APAC

China
Japan
Australia
New Zealand
South Korea
India
Malaysia

Europe

UK
Germany
France
Italy
Spain
Netherlands
Norway
Poland

Latin America

Brazil
Mexico
Argentina

MEA

UAE
South Africa

North America

US
Canada

Major Vendors

Brunswick Corporation
Groupe Beneteau
Azimut-Benetti Group
Bombardier Recreational Products
Ferretti

Other vendors include - Princess Yachts, Marine Products Corporation, MCBC Holdings Inc., Malibu Boats Inc., Hanseyachts, BAVARIA Yachtbau, Bertram Yachts, Boston Whaler Boats, Chaparral Boats, Grady-White Boats, Lund Boat Company, White River Marine Group, Yamaha Motor Corporation, Viking Yacht, Grand Banks Yachts, Porter, Maverick Boat Group Inc, Correct Craft, Baja Marine, Pacific Asian Enterprises, Albemarle Boats, Marlow Hunter, Catalina Yachts, Hobie Cat Corporation, Zodiac Marine & Pool SAS, Sunseeker International, Fountain Powerboat Industries Incorporated, Godfrey Marine, Thunder Jet, Explorer Industries, Custom Weld, Duckworth Boats, and High Calibe.

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About Arizton:

Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

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SOURCE Arizton Advisory & Intelligence