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U.S. Recreational Boating Market 2024 Key Players are American Sail Inc., Azimut-Benetti Group, Bavaria Yachts, Groupe Beneteau, Brunswick Corporation, and Catalina Yachts
U.S. Recreational Boating Market
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The outboard boats will capture a volume share of over 71% by 2024. The dominance can be credited to the several advantages such as easier maintenance and maneuvering capabilities of these water crafts. The enhanced cockpit space as compared to counter parts will further boost the recreational boating demand over the forecast time frame.
Recreational Boating Market in U.S. by Products
• Inboard Boats
• Outboard Boats
• Inflatable
• Sail Boats
• PWCs
Recreational Boating Market in U.S. by Power
• Engine-Powered
• Man-Powered
• Sail Propelled
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The engine powered boats will witness growth rate of almost 4% till 2024 due to the increasing penetration of PWCs, inboard, and outboard for recreational boating. These boats are available in multiple engine specification alternatives with a wide range of fuel types including petrol, diesel, ethanol, hybrid, and electric favoring the business growth.
Increasing customer spending for tourism is boosting the U.S. recreational boating market demand. Proliferating usage of boats for leisure and water sports activities such as river rafting, kayaking, racing, and sailing are enhancing the production of pleasure crafts, thereby strengthening industry size over the forecast timeframe.
Continuous government support to upgrade and maintain the recreational boating infrastructure will drive the industry share over the forecast timeframe. For instance, in 2015, the U.S. Fish and Wildlife Service through the Boating Infrastructure Grant (BIG) program announced grants of worth over USD 14 million. It aims to maintain and upgrade the boating infrastructure along with providing strong support for manufacturers.
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American Sail Inc., Azimut-Benetti Group, Bavaria Yachts, Groupe Beneteau, Brunswick Corporation, and Catalina Yachts are few players of the recreational boating industry. Mergers and acquisitions are among the common strategies adopted by the participants to enhance their product offerings. For instance, in June 2018, Brunswick Corporation announced the acquisition of Power Products for USD 910 million to complement its portfolio with existing Power Products brands.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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