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Global Recreational Boating Market To Be Driven By The Thriving Travel And Tourism Industry In The Forecast Period Of 2022-2027

12-22-2022 02:05 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Expert Market Research

Recreational Boating Market

Recreational Boating Market

The new report by Expert Market Research titled, 'Global Recreational Boating Market Size, Share, Growth, Trends, Analysis, Report and Forecast 2022-2027', gives an in-depth analysis of the global recreational boating market, assessing the market based on its segments like types, power sources, applications, and major regions.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.

The key highlights of the report include:

Market Overview (2017-2027)

Historical Market Size (2020): USD 27 Billion
Forecast CAGR (2022-2027): 3.5%

The significant rise in the population and the growing disposable incomes are surging the spending on recreational and leisure activities, which is increasing the demand for recreational boats. The market is further aided by technological advancements and enhancements in marine technology.

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The integration of Global Navigation Satellite Systems is enabling recreational boats to carry out search and rescue operations, thereby augmenting the market growth. With the increasing interests in watersports and cruising, boosted by the expanding tourism industry, the market for recreational boating is witnessing robust growth.

The growing cost-effectiveness of sailboats and their widespread use in fishing and transport are providing further impetus to the growth of the recreational boating industry.

Industry Definition and Major Segments

Recreational boats are boats that can be inboard or outboard and are made for non-commercial use. These boats are used for several activities such as camping, boating, fishing, rescuing, and sailing, among others.

The enhanced technological features in the boat such as GNSS, makes it a successful vehicle for carrying out rescue operations.

Explore the full report with the table of contents@

The market, based on type, is divided into:

Outboard Boats
Inboard Boats
Personal Watercraft Boats
Sail Boats
Rigid Inflatable Boats

On the basis of power source, the market is segmented into:

Human Powered
Sail Powered
Engine Powered

By application, the market is classified into:

Watersports and Cruising

The regional markets for recreational boating include:

North America
Asia Pacific
Latin America
Middle East and Africa

Market Trends

The global recreational boating industry is expected to be driven by the rising demand for tourism and water sport activities in regions like the United States, France, Germany, Canada, the United Kingdom, and some areas of the Asia Pacific.

The market is anticipated to be further propelled by the rising aquamarine culture, which is attracting a lot of tourists. The addition of marine technologies for pleasure watercraft is estimated to drive market expansion over the forecast period. Moreover, the rising efforts of leading companies in the industry to expand their portfolios through mergers and acquisitions is anticipated to fuel the market growth during the forecast period.

Key Market Players

The major players in the market are Brunswick Corporation, Marine Product Corporation, White River Marine Group, Azimut Benetti Group, Sunseeker International Limited, and Bennington Marine LLC, among others.

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Media Contact

Company Name: Claight Corporation
Contact Person: Louis Wane, Corporate Sales Specialist - U.S.A.
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gloud Street, Sheridan, WY 82801, USA

About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients' requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

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