2018-2023 Recreational Boat Market - Global Outlook and Forecast

The global recreational boat market is expected to reach revenues of more than $50 billion by 2023, growing at a CAGR of approximately 4% during 2017-2023. The research report also offers market size in terms of unit shipment values during the forecast period.

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The exponential growth of the travel and tourism industry across the European region will positively impact the development of the global market. The rapid economic development and the increasing demand for charter services in Southeast Asia will boost the demand for new products in the market. The global recreational boat market is driven by growth in travel and tourism across the European, Russia, APAC, and Latin American region.

Recreational Boat Market - Dynamics

The increasing participation in leisure boating activities across the European and the US regions will boost the demand for superior systems in the global recreational boating market. The US and Europe are the biggest markets for recreational boating. In 2017, about 3.9 million people in the UK, i.e., about 7.4% of the total UK adult population, participated in core boating activities. The introduction of digital dashboards with touchscreen displays enable users to control the boat by just touching the screens. The fly-by-wire technology introduced in digital throttles and shifts are more reliable than moving mechanical parts and will contribute to the development of the global recreational boating market.

Recreational Boat Market - Segmentation

This market research report includes a detailed segmentation of the market by power, product, and geography. Inflatable boat segment dominated less than 1/3rd of the market share in 2017, growing at a CAGR of more than 4% during the forecast period. The increasing participation in various water-based leisure activities is contributing to the growing demand for these products in the global market. The affordable prices and ease of use of inflatable boats create lucrative opportunities for the leading vendors in the global market.

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Market Segmentation by Product: Outboards, Inboards/Sterndrives, Personal Watercraft, Sail Boats/Yachts & Inflatable Boats

Market Segmentation by Power: Engine-Powered, Man-Powered & Sail-Propelled

Recreational Boat Market – Geography:

The global recreational boat market by geography is segmented into North America, Europe, APAC, Latin America, and MEA. North America dominated approximately half of the market share in 2017, growing at a CAGR of around 5% during the forecast period. The rising consumer confidence and the introduction of new products and experiences to attract young boaters is augmenting the growth of the North American region in the global recreational boating market. The increasing proliferation of the yacht industry is attributing to the growth of the APAC region in the global market.

The major vendors in the global recreational boat market are:
• Brunswick Corporation
• Groupe Beneteau
• Azimut-Benetti Group
• Sunseeker International
• Ferretti

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Key market insights include:

1. The analysis of the global recreational boat market provides market size and growth rate for the forecast period 2018-2023.

2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global recreational boat market.

3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.

4. It offers a complete overview of market segments and the regional outlook of the global recreational boat market.

5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

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