Recreational Boating Market | Companies – Princess Cruises, Bavaria Yachtbau GmbH, Azimut|Benetti Group, Ferretti Group, Groupe Beneteau, Brunswick Boat Group
Europe will grow significantly, exhibiting more than 5% CAGR over the next eight years owing to high production, resulting in increasing product exports. Moreover, availability of skilled and cost-effective labor force will propel the recreational boating market growth in the region.
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Outboard boats are anticipated to showcase dominance in the recreational boating market, accounting for more than USD 135 billion over the next eight years. Outboard engines are mounted on an easily accessible position, that results in relatively more space than the counterparts. Moreover, advantages such as high reliability along with easy service abilities & maintenance will support the industry dominance. Inboard boats will witness approximately 4.5% CAGR owing to their high usage in fishing and other light weighted boats.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
2. Beneteau Group
6. Bavaria Yachtbau
8. American Sail Inc
9. Catalina Yachts
11. Hobie Cat Corporation
13. Mahindra & Mahindra Ltd.
Recreational Boating Market, By Product
• Inboard boats
• Outboard boats
• Sail boats
Recreational Boating Market, By Power
• Sail propelled
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Global recreational boating market size is anticipated to exceed USD 230 billion over the forecast timeframe. Increasing promotional activities of tourist’s sports coupled with travel & tourism industry growth are primary factors boosting recreational boating market share during forecast time frame. Rising disposable income has resulted in an upsurge of traveling and adventure sports.
Engine-powered recreational boats were valued at over USD 145 billion in 2016 and will continue its dominance in recreational boating market till 2024. Developed countries such as U.S., Japan, and Russia are witnessing high demand for power engine boats, further contributing significantly towards the revenue contribution. Man-powered boats will exhibit around 4% CAGR from 2017 to 2024 owing to their cost-effectiveness along with increasing demand for fun and leisure activities including river rafting and water sports.
Industry players focus on integrating several marine technologies in these boats. Emerging trends such as global navigation satellite system (GNSS) are gaining traction among the manufacturers. These systems are highly beneficial for both direct and indirect users of these boats. They are primarily used for traffic management and overall surveillance in the waterways. Various other benefits such as fishing vessel control and search & rescue are responsible for high preference of the manufacturers. Incorporation of these advanced features will offer stable growth prospects for the recreational boating market till 2024.
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Ferretti, Brunswick, Sunseeker, MacGregor, Beneteau, Malibu Boats, American Sail Inc., Azimut Benetti, and Hunter are among the noticeable participants in the recreational boating market. Other prominent players include Hobie Cat Corporation, Princess Cruise, Catalina Yachts, and Bavaria Yachtbau.
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