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Recreational Boating Market Size, Growth Scenarios, Trends and Study Report 2020-2024 | Brunswick, Beneteau Group, Ferretti, Azimut-Benetti, Sunseeker, Bavaria Yachtbau, Princess, American Sail Inc, Catalina Yachts, MacGregor, Hobie Cat Corporation

Recreational Boating Market Size, Growth Scenarios, Trends

The rising proliferation of travel and tourism industry has led to a major surge in the demand for sports and adventure activities, which has in turn augmented recreational boating market share. According to Global Market Insights, Inc., the worldwide recreational boating industry size is expected to surpass $230 billion by 2024. Increase in disposable income as well as growing urban population are some of the key factors fueling recreational boating market outlook.

>>>Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/2076

Moreover, leisure and adventure activities like speed boating, sailing and party cruises have helped the market gain increased traction. Apparently, these activities are becoming a growing trend among youngsters and has sparked an interest from many manufacturing companies that are now thinking of venturing in this industry. Thus, such aspects are projected to significantly bolster recreational boating market size over the estimated timeframe.

Outboard boat segment is slowly emerging to be a crucial part of the recreational boating market. According to reports, the outboard board market size is expected to register a valuation of over $135 billion by 2024. Customers have been demanding for diversified preferences and benefits like extra interior stowage as well as additional space for carrying more people, as far as outboard boats are concerned.

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

Brunswick, Beneteau Group, Ferretti, Azimut-Benetti, Sunseeker, Bavaria Yachtbau, Princess, American Sail Inc, Catalina Yachts, MacGregor, Hobie Cat Corporation, Hunter, Mahindra & Mahindra Ltd., Engine manufacturers, Volvo Penta, Mercury, Yamaha, Honda

Additionally, demand for features like high reliability, improved acceleration and torque, reduced maintenance, better handling ability at lesser speed and cost effectiveness have propelled the growth rate of outboard boat market.

It is vital to mention that in 2017, sales of outboard engines showed a significant surge with a growth of 6% when compared to the sales of 2016. Moreover, addition of latest and improved outboard engine is estimated to further market penetration, substantially increasing the outboard boat industry size over the forecast period.

North America is one of the regions that is expected to offer substantial impetus to the recreational boating market. For years, North America has been a major recreational hub, offering leisure activities like kayaking and boat tours, in abundance. These trends have resulted in a significant rise in consumer spending, leading to growth of the regional recreational boating market.

Growing demand for boats that offer bigger accommodation facilities as well as increasing number of cruise passengers are playing a vital role in expanding regional market outlook. In fact, according to the Cruise Lines International Association (CLIA), cruise passenger numbers have increased by over 9% in 2018, reaching up to 14.2 million. In addition to this, increasing presence of yacht distributors and manufacturers in the region are expected to provide further impetus to North America recreational boating market size over the coming years.

>>>Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2076

Countries like Italy and Germany have become a prime spot for recreational boating activities and are expected to further offer substantial gains to the Europe recreational boating market over the forecast timeframe. The region's proliferating tourism industry has gained the interest of many manufacturers that are now aiming to enhance their production capacity as well as expand their business reach by exporting boats to international markets in a bid to maximize profit margins and enhance market penetration.

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

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.

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