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U.S. Recreational Boating Market | Major Boating Players - Azimut|Benetti Group, Volvo Penta, Groupe Beneteau, Brunswick Corporation, MacGregor, Ferretti Group, Brunswick Boat Group

12-05-2018 06:45 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Maritime Industry

U.S. Recreational Boating Market

U.S. Recreational Boating Market

U.S. Recreational Boating Market size is estimated to surpass USD 28.5 billion by 2024; according to a new research report by Global Market Insights, Inc. Florida recreational boating industry will exhibit over 6.5% CAGR over the study period. This growth can be attributed to the increasing government initiatives to educate and encourage the participation of customers for recreational boating. The regulations by Florida Fish and Wildlife Conservation Commission mandating minimum safety equipment on boats will further influence the industry growth. The boat shows across the state such as Fort Myers Boat Show, Charlotte County Boat Show, and Bonita Springs Boat Show provides platform for industry participants to showcase their latest technology in boats and attracts boat riders, escalating the U.S. recreational boating market size.

Get Sample Copy of This Report @ https://www.gminsights.com/request-sample/detail/2806

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

The U.S. recreational boating market size from the outboard boats segment will capture the highest volume share accounting to more than 70% over the forecast time frame. This growth can be attributed to the enhanced space availability in the cockpit, improved maintenance owing to easier detachment of the engine from the boat, and maneuverability further supporting the industry growth.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Brunswick
2. Beneteau Group
3. Ferretti
4. Azimut-Benetti
5. Sunseeker
6. Bavaria Yachtbau
7. Princess
8. American Sail Inc
9. Catalina Yachts
10. MacGregor
11. Hobie Cat Corporation
12. Hunter
13. Mahindra & Mahindra Ltd.
14. Volvo Penta

Make an Inquiry for purchasing this Report @ https://www.gminsights.com/inquiry-before-buying/2806

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.

Rising number of accidents owing to the lack of knowledge and ignorance of people for utilizing safety equipment such as life jacket are hampering the U.S. recreational boating market share. For instance, according to the United States Coast Guard, in 2017, the recreational boating accidents due to not wearing of life jackets accounted to 370. To overcome this issue, industry participants along with the government are working on educating the boat riders about the benefits of the safety equipment on boats.

In terms of power, the engine powered segment from the U.S. recreational boating market share will show a significant growth rate of around 4% between 2018 and 2024 owing to the increasing usage of engines in several boats including inboard boats, outboard boats, and PWCs. The engines powered by ethanol, petrol, and diesel fuels provide alternatives to customers contributing towards the industry revenue share. The stringent regulations by the U.S. Environmental Protection Agency leading to the introduction of hybrid and electric boats will play a key role in driving the business revenue.

Browse Report Summery @ https://www.gminsights.com/industry-analysis/us-recreational-boating-market

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.

About Global Market Insights:

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.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

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