Recreational boating market to reach $35.4 million, at 5.1% CAGR by 2027

According to a recent report published by Allied Market Research, titled, "Recreational boating Market by Power, Product Type, Activity Type and Size: Global Opportunity Analysis and Industry Forecast, 2020-2027," the global recreational boating market was valued at $29.0 billion in 2019, and is projected to reach $35.4 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/recreational-boating-market/purchase-options

Europe is the highest revenue contributor, followed by North America, Asia-Pacific, and LAMEA. On the basis of forecast analysis, Europe is expected to maintain its lead during the forecast period, owing to increasing demand for luxury cruisers, rising coastal & maritime tourism, and growing boating participation by adults.

Recreational boating is a leisurely activity of traveling on water in a boat. Many individual use this for fun and pleasure activities during outing with family and friends. Recreational boating includes many activities such as boat racing, sailing, campaigning, fishing, and other water sports game such as powerboat racing, sports fishing, kayaking, and others. Recreational boating is usually done for the purpose of making the experience of tourism more enjoyable.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬: https://www.alliedmarketresearch.com/request-sample/5723

Recreational boats, also known as pleasure crafts, are available in different types, including, towboats, sailboat, fishing boat, pontoon boats, and cabin cruisers. These boats are primarily made up of plastic, aluminum, and coated fabrics. Recreational boating events are open to all kinds of boats such as engine powered, sail powered, or man powered.

The factors such as growing interest toward recreational water sport activities and rising water-based tourism, are anticipated to drive the market growth. However, high initial & ownership cost of recreational boats and environmental concerns associated with recreational boating are expected to hinder the market growth. Further, technological advancement in boats & boat engines and growing high net-worth population are some of the factors expected to offer lucrative opportunities for the market growth during the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.alliedmarketresearch.com/purchase-enquiry/5723

The key players operating in the recreational boating market are Azimut Benetti Group, Brunswick Corporation, Groupe Beneteau, Hobie Cat Company, Marine Products Corporation, Mastercraft Boat Holdings, Inc, Polaris Inc, Sunseeker International Limited, White River Marine Group, and Yamaha Motor Co., Ltd.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.

About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.