U.S. recreational boating market Key Player Global Analysis • Bavaria Yachts • American Sail Inc. • Brunswick Corporation • Azimut-Benetti Group • Groupe Beneteau • Catalina Yachts

The U.S. recreational boating market is estimated to register substantial growth over the ensuing years, mainly attributed to the ever-increasing expenditure on leisure activities paired with extensive technological advancements in the boating industry.

According to the National Marine Manufacturers Association, the recreational boating industry is estimated to bring $170.3 billion to the U.S. economy. This growth can be credited to the country’s commendable economic growth over the past decade, especially with consumers considering boating as a newfangled medium to spend quality time with families as well as a great adventure activity during vacations.

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Report Mainly focuses on the top Manufacturers in global market are given bellow
• Bavaria Yachts
• American Sail Inc.
• Brunswick Corporation
• Azimut-Benetti Group
• Groupe Beneteau
• Catalina Yachts

Rising customer spending for leisure activities and nautical tourism are driving the U.S. recreational boating market share. The escalating participation in water sports activities across the country including canoeing, kayaking, fishing, etc. is strengthening the business size over the projected time frame.

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.

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 number of accidents and high initial costs of the boats may hamper the country?s recreational boating market. For instance, as per the USCG, in 2017 total causalities accounted for 658 owing to various reasons including drowning, absence of life jacket, collision with other vessels, and grounding, among others.

Florida recreational boating market will generate approximately USD 3 billion over the forecast timeframe. Stringent government regulations mandating safety equipment in boats enhances consumer confidence for adopting such boats in the state. Further, the boat shows organized across the state to promote next generation technologies will further proliferate the state?s revenue.

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The above information is provided on a regional and country basis for the following:

• North America (U.S., Canada, Mexico)
o Europe (Germany, Italy, UK, France, Austria, Spain, Portugal, Ukraine, Switzerland)
o Asia Pacific (Japan, China, India, South Korea, Australia)
o Latin America (Brazil, Mexico)
o MEA (South Africa, Saudi Arabia)

The U.S. recreational boating industry participants include Bavaria Yachts, American Sail Inc., Brunswick Corporation, Azimut-Benetti Group, Groupe Beneteau, and Catalina Yachts. The players are engaged in mergers and acquisitions to maintain their market share and increase revenue. For instance, in 2018, Brunswick Corporation acquired Power Product?s Global Marine & Mobile business which is valued at around USD 910 million. This acquisition will complement company?s existing portfolio with eleven new brands strengthening their position in marine and transportation aftermarket business.

In accordance with the same, recreational boat manufacturers are introducing new products to appeal to consumers with different interests and budgets. Consequently, surging marine tourism as well as consumers’ shifting interest toward the marine leisure industry will help augment the U.S. recreational boating market size in the years to come.

The advent of major technological developments in recreational boats will further drive the industry growth. Recently, Knoxville-based Brunswick Boat Group announced the proposed development of Brunswick Fiberglass Boat Technology Center, which is set to be the most extensive boat design and technology center in the United States. Through this center, the company will design and engineer industry-leading products for Boston Whaler and Sea Ray, two of the most iconic brands in the marine industry. Such technological enhancements and structural developments are likely to appeal to the existing boat enthusiasts as well as new customers, thereby favoring the expansion of the U.S. recreational boating market.

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