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Recreational Boat Market (2021-2027) | MarketsandMarkets

09-22-2021 03:25 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

Recreational Boat Market (2021-2027) | MarketsandMarkets

According to the new market research report "Recreational Boat Market by Boat Type (Sailboats, PWC, Inflatables), Size (50 Feet), Engine Placement (Outboards, Inboards), Engine (ICE, Electric), Material (Aluminium, Fiberglass), Activity Type, Power Source & Region - Global Forecast to 2027", Published by MarketsandMarkets™, The global Recreational Boat Market size is projected to grow from USD 16.4 Billion in 2021 to USD 23.6 Billion by 2027, at a CAGR of 6.2%.

The growth of the market is influenced by factors such as increasing disposable income levels of people and the growing tourism market. Developments in autonomous marine technology as well as other related technologies including new materials developed for boats, IOT based navigation, etc. will also provide a boost to the market.

Browse in-depth TOC on "Recreational Boat Market”
304 - Tables
63 - Figures
286 - Pages

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=227150980

North America is expected to be the largest market during the forecast period

The Recreational Boat Market in North America is expected to be the largest and fastest-growing across the world due to the high demand for leisure boating and water sports in the region. The US is expected to be a fast-growing market in the region with the government helping grow the Recreational Boat Market over the years. However, Emission regulations could limit the growth rate of the market in both these countries by reducing recreational boating demand in the coming years. Canada also has a high demand due to recreational boating being a traditional pastime in the region. Mexico is also a fast-growing market with recreational boating gradually finding its place in the country.

The yacht segment is estimated to account for the largest market during the forecast period

The yacht segment is currently the largest segment in terms of value in the Recreational Boat Market around the world. It will continue to be the largest segment during the forecast period due to high demand across the US and Europe. This is due to the increasing demand for leisure boating and cruising with increasing disposable income levels of people around the world. In 2020, 341 superyachts were sold worldwide according to data provided by Boat International. Hasna superyacht, the costliest yacht sold in 2020 sold for USD 92.5 million. Although the number of yachts sold grows at a moderate pace, due to the growing luxury features year on year, their prices have been increasing.

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Outboards are estimated to account for the largest market size during the forecast period

The outboard boat segment is currently the largest segment in the Recreational Boat Market around the world. it will continue to be the largest segment during the forecast period due to high demand across the US and Europe. This is because these boats have better speed, are easier to dock and cost much less to maintain compared to other variants. They also have a lower chance of catching fire due to the engine being located outside the boat. This leads to outboard boats being the most popular boat for boating enthusiasts.

The Recreational Boat Market is dominated by established players such as Brunswick Corporation (US), Groupe Beneteau (France), Malibu Boats (US), Polaris Inc. (US) and MasterCraft Boat Company (US). These companies have been developing new products, adopted expansion strategies, and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in the Recreational Boat Market.

View Full TOC @ https://www.marketsandmarkets.com/Market-Reports/recreational-boats-market-227150980.html

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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