Recreational Boating Market to Witness Remarkable Growth 2021-2027
According to a research report conducted by Global Market Insights., Inc., the recreational boating market is expected to surpass USD 63 billion by 2026.
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.
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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.
Apart from this, the advent of technologically advanced boats, increasing disposable income along with growing national tourism infrastructure have impelled individuals to opt for recreational activities, offering new business strides for recreational boat manufacturers in North America.
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.
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In Jan. 2020, Grady-White Boats introduced outboard boats equipped with joysticks and gas-powered engines to offer exceptional customer experience. Manufacturers are also partnering with dealers, rental service providers, and distributors to strengthen their market share. Participating in events and product launches is helping firms expand and strengthen their business reach. In Jan 2020, leading recreational boats manufacturers participated in Toronto International Boat Show, Canada to showcase their advanced recreational boat portfolio.
Table of Contents (ToC) of the report:
Chapter 4. Recreational Boating Market, By Product (Revenue & Shipment)
4.1. Key trends by product
4.2. Inboard boat
4.2.1. Market estimates and forecast, 2016 – 2026
4.2.2. Market estimates and forecast, by horsepower,2016 – 2026
4.2.3. Below 200 hp
18.104.22.168. Market estimates and forecast, 2016 – 2026
4.2.4. 201 to 500 hp
22.214.171.124. Market estimates and forecast, 2016 – 2026
4.2.5. 501 to 1000 hp
126.96.36.199. Market estimates and forecast, 2016 – 2026
4.2.6. Above 1000 hp
188.8.131.52. Market estimates and forecast, 2016 – 2026
4.3. Outboard boat
4.3.1. Market estimates and forecast, 2016 – 2026
4.3.2. Market estimates and forecast, by type,2016 – 2026
4.3.3. Center console
184.108.40.206. Market estimates and forecast, 2016 – 2026
4.3.4. Express cruiser
220.127.116.11. Market estimates and forecast, 2016 – 2026
18.104.22.168. Market estimates and forecast, 2016 – 2026
4.3.6. Runabout bowrider
22.214.171.124. Market estimates and forecast, 2016 – 2026
126.96.36.199. Market estimates and forecast, 2016 – 2026
4.3.8. Market estimates and forecast, by horsepower,2016 – 2026
4.3.9. Below 200 hp
188.8.131.52. Market estimates and forecast, 2016 – 2026
4.3.10. 201 hp to 500 hp
184.108.40.206. Market estimates and forecast, 2016 – 2026
4.3.11. 501 hp to 1000 hp
220.127.116.11. Market estimates and forecast, 2016 – 2026
4.3.12. Above 1000 hp
18.104.22.168. Market estimates and forecast, 2016 – 2026
4.4.1. Market estimates and forecast, 2016 – 2026
4.4.2. Market estimates and forecast, by horsepower,2016 – 2026
4.4.3. Below 200 hp
22.214.171.124. Market estimates and forecast, 2016 – 2026
4.4.4. 201 hp to 500 hp
126.96.36.199. Market estimates and forecast, 2016 – 2026
Chapter 5. Recreational Boating Market, By Engine
5.1. Key trends by engine
5.2.1. Market estimates and forecasts, 2016 – 2026
5.3.1. Market estimates and forecasts, 2016 – 2026
Chapter 6. Recreational Boating Market, By Region (Revenue & Shipment)
6.1. Key trends by region
6.2. North America
6.2.1. Market estimates and forecast, by product, 2016 – 2026
188.8.131.52. Market estimates and forecast, by horsepower, 2016 – 2026
6.2.2. Market estimates and forecast, by engine, 2016 – 2026
184.108.40.206. Market estimates and forecast, by product, 2016 – 2026
220.127.116.11.1.1. Market estimates and forecast, by horsepower, 2016 – 2026
18.104.22.168. Market estimates and forecast, by engine, 2016 – 2026
22.214.171.124. Market estimates and forecast, by product, 2016 – 2026
126.96.36.199.1. Market estimates and forecast, by horsepower, 2016 – 2026
188.8.131.52. Market estimates and forecast, by engine, 2016 – 2026
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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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