Recreational Boats Market worth $33.7 billion by 2027

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MarketsandMarkets Presents

Recreational Boats Market worth 33.7 billion by
2027
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ecreational-boats-market-227150980.html
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The report "Recreational Boats Market by Boat
Type (Outboard boats, Inboard boats/stern type,
Sail boats/Yachts, Personal Watercraft,
Inflatable), Power source, Activity Type
(WatersportsCruising, Fishing), Distribution
Channel, and Region - Global Forecast to
2027" The recreational boats market is estimated
to be USD 26.7 billion in 2019 and is projected
to reach USD 33.7 billion by 2027, at a CAGR of
3.02. Rising disposable income has resulted in
an increase in the leisure spending such as the
purchase of recreational boats. The increase in
the travel and tourism activities across the
globe is also responsible for the growth of this
market. The recreational boats can be used for
carrying out different activities like
watersports, sailing, cruising and
fishing. Browse 73 market data Tables and 34
Figures spread through 119 Pages and in-depth TOC
on "Recreational Boats Market Get The PDF
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Outboard boat type is the segment with the
highest growth rate and this is expected to
continue till 2027 Outboard boats have lot of
advantages over other boat types such as easy
access of engine mounting, more spacious deck
area etc. This leads to benefits such as cost
effectiveness, easy maintenance, and easy
serviceability with high reliability. Outboard
boats are available with wide range of engines
(V6 to V8) depending upon the user preference.
Outboard boats have maximum share compared to
other boat types and is expected to reach USD
11.3 billion in 2027. Cruising Watersports
activity is forecasted to be the largest activity
type preferred by the boaters It has been
observed that regions like Asia Oceania and North
America are preferring more adventure and sports
activities and this is expected to continue to
grow till 2027. These activities provide many
health benefits like stress relieving, greater
physical activity, etc. These activities are a
preferred option for both the tourists as well as
the locals across different geographies. Request
Sample of the report https//www.marketsandmarket
s.com/requestsampleNew.asp?id227150980
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Asia Oceania is the largest market for
recreational boats, followed by North
America Chinese economy growth is stable, and
the transition to a service led economy is
supporting the rising income of the people.
Hence, the Chinese boating segment has promising
growth. Other Asian countries such as Japan,
Korea, and India showed promising growth during
2017-2018 and will continue till 2027. The Asian
market is the production hub for the European and
North American manufacturers. In Australia and
New Zealand, local demand for foreign made boats
has been seen rising because the domestic
manufacturers are struggling to compete with the
international players. Maximum imports were led
by inboard boats from the US, the UK, and Italy
and outboard boats from the US and France.
Germany is exporting sail boats to Australia and
New Zealand. The recreational boats market is
dominated by a few global players. The key
players in the market are Brunswick (USA), Azimut
Benetti Group (Italy), Sunseeker International
Ltd (UK), Groupe Beneteau (France), Marine
Product Corporation (USA), Bennington Marine LLC
(USA), Bavaria Yachtbau (Germany), Godfrey
Pontoons Group (USA), Lund Boats (USA), Tracker
Boats (USA), Ranger Boats (USA) Catalina Yachts
(USA), Ferretti Group (USA), Mahindra Odyssea
(India), Hobie Cat Company (USA) Dont miss out
on business opportunities in Recreational Boats
Market. Speak to our analyst and gain crucial
industry insights that will help your business
grow.
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