Press release
Recreational Boating Market Report 2024 To 2033 Trends, Share, Size, Growth, Opportunity And Forecast
Recreational Boating Market
The Business Research Company presents an extensive market research report on the Recreational Boating Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The recreational boating market size has grown strongly in recent years. It will grow from $30.88 billion in 2023 to $33.33 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to economic growth and disposable income, boating tourism and leisure activities, popularity of waterfront properties, demographic changes and lifestyle preferences, environmental regulations and green practices.
The recreational boating market size is expected to see strong growth in the next few years. It will grow to $44.84 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to innovations in rental and sharing services, market expansion and globalization, safety and regulatory standards, demographic changes and lifestyle trends, rising interest in boating tourism. Major trends in the forecast period include electric propulsion technology, integration of smart technology, rise in water sports and activities, innovations in design and styling, wellness and comfort features.
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Key Market Players:
Major companies operating in the recreational boating market report are Lowe Boats, Yamaha Motor Co Ltd., Polaris Inc., Brunswick Corporation, Groupe Beneteau, Malibu Boats, Ferretti Group, Sea Ray, Mastercraft Boat Holdings Inc., Azimut Benetti Group, Marine Products Corporation, Nitro Boats, Hobie Cat Company Inc., Boston Whaler, Lund Boats, White River Marine Group, Grady-White Boats, Regal Boats, Ranger Boats, Sunseeker International Limited, Baja Marine, Correct Craft, Bayliner, Chaparral Boats, Pacific Asian Enterprises, Fairline, Bavaria Yachtbau, Albemarle Boats, Crestliner Boats, Tracker Boats
Market Drivers:
The growing tourism industry will propel the growth of the recreational boating market. The tourism sector, sometimes known as the travel industry, is associated with individuals travelling to other regions, either locally or globally, for leisure, social, or business reasons. It is inextricably linked to the hotel, hospitality, and transportation industries, and much of it revolves around keeping visitors happy, amused, and well-equipped during their time away from home. For instance, in 2021, according to the report published by Invest India, The travel and tourism industry is predicted to rise to USD 512 billion by 2028. Therefore, the growing tourism industry drives the growth of the recreational boating market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/recreational-boating-global-market-report
The recreational boatings market covered in this report is segmented -
1) By Boat Type: Yachts, Sailboats, Personal Watercrafts, Inflatables, Other Boats
2) By Engine Placement: Outboards, Inboards, Other Engine Placements
3) By Material Type: Aluminum, Fiberglass, Steel, Other Materials
4) By Boat Size: Up to 20 Ft., 21 Ft. to 35 Ft., 36 Ft. to 50 Ft.
5) By Activity Type: Cruising, Water Sports, Fishing
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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