Press release
What's Driving the Recreational Boating Market Growth? Bavaria Yachtbau GmbH, Brunswick Corporation, Correct Craft, Grady-White Boats, Malibu Boats, MasterCraft Boat Company, Yamaha Motor Corporation, USA, Mercury Marine, Volvo Penta
Rising disposable incomes along with increasing expenditure on leisure activities are likely to drive global recreational boating market outlook. Over the past few years, a renewed interest has been observed among masses regarding skin diving, fishing, water skiing, canoeing, surging, kayaking, boat rowing, etc.
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Increasing demand of inflatable boats for rescue operations is another key application area that may drive the demand for recreational boats. These crafts play a pivotal role in emergency response conditions such as vessel catastrophes, calamities, and refinery accidents. They are also gaining prominence in the tourism sector for rescuing people from adverse events such as drowning.
To aid the military in recuse operations, manufacturers are also rolling out inflatables boats equipped with highly resistant fabric, intercommunication valve systems, and fast inflation kit. Taking an instance to highlight the same, in Nov. 2017, ZODIAC MILPRO introduced inflatables boats to aid underwater and airdrop military operations.
Studies estimate that North America could offer lucrative growth opportunities to the companies operating in the recreational boating market. Water sports activities, being one of the most popular recreational activities in North America, have helped recreational boat sales to grow at an exponential rate.
Private and public authorities in the region are investing heavily to create recreational boating infrastructure. Taking May 2019 for an instance, the U.S. Fish and Wildlife Service's BIG (Boating Infrastructure Grant) program contributed USD 20 million to construct needed amenities and facilities for boating.
To sustain in the competitive scenario, manufacturers in the recreational boating market are focusing on technological advancements, innovation strategies as well as maintaining public relations. They are indulged in developing new products to enhance customer experience.
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The emergence of high-tech boats highlights the deep commitment of industry participants towards improving existing recreational boat portfolio. Groupe Beneteau, Yamaha Motor Corporation, Brunswick Porter Inc., Brunswick, Malibu Boats, Maverick Boat Group, Inc., Correct Craft and Grady-White Boats, Inc., are some of the These companies are engaged in developing advanced boats.
Table of Contents (ToC) of the report:
Chapter 5. Recreational Boating Market, By Power
5.1. Global recreational boating market share by power, 2016 & 2024
5.2. Engine powered
5.2.1. Global market estimates and forecasts, 2013 - 2024
5.2.2. Market estimates and forecast, by region, 2013 - 2024
5.3. Man powered
5.3.1. Global market estimates and forecasts, 2013 - 2024
5.3.2. Market estimates and forecast, by region, 2013 - 2024
5.4. Sail propelled
5.4.1. Global market estimates and forecasts, 2013 - 2024
5.4.2. Market estimates and forecast, by region, 2013 - 2024
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