Recreational Boating Global Market Size, Revenue, Share Report, Growth, Industry Insights, Regional Analysis and Forecast Till 2033 | Lowe Boats, Polaris Inc., Groupe Beneteau, Malibu Boats, Ferretti Group

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Recreational Boating Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The recreational boating market size has grown strongly in recent years. It will grow from $30.88 billion in 2023 to $33.33 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to economic growth and disposable income, boating tourism and leisure activities, popularity of waterfront properties, demographic changes and lifestyle preferences, environmental regulations and green practices.

The recreational boating market size is expected to see strong growth in the next few years. It will grow to $44.84 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to innovations in rental and sharing services, market expansion and globalization, safety and regulatory standards, demographic changes and lifestyle trends, rising interest in boating tourism. Major trends in the forecast period include electric propulsion technology, integration of smart technology, rise in water sports and activities, innovations in design and styling, wellness and comfort features.

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Market Segmentation:
The recreational boatings market covered in this report is segmented -
1) By Boat Type: Yachts, Sailboats, Personal Watercrafts, Inflatables, Other Boats
2) By Engine Placement: Outboards, Inboards, Other Engine Placements
3) By Material Type: Aluminum, Fiberglass, Steel, Other Materials
4) By Boat Size: Up to 20 Ft., 21 Ft. to 35 Ft., 36 Ft. to 50 Ft.
5) By Activity Type: Cruising, Water Sports, Fishing

Major Driver - Driving Growth In The Recreational Boating Market
The growing tourism industry will propel the growth of the recreational boating market. The tourism sector, sometimes known as the travel industry, is associated with individuals travelling to other regions, either locally or globally, for leisure, social, or business reasons. It is inextricably linked to the hotel, hospitality, and transportation industries, and much of it revolves around keeping visitors happy, amused, and well-equipped during their time away from home. For instance, in 2021, according to the report published by Invest India, The travel and tourism industry is predicted to rise to USD 512 billion by 2028. Therefore, the growing tourism industry drives the growth of the recreational boating market.

Competitive Landscape:
Major companies operating in the recreational boating market report are Lowe Boats, Yamaha Motor Co Ltd., Polaris Inc., Brunswick Corporation, Groupe Beneteau, Malibu Boats, Ferretti Group, Sea Ray, Mastercraft Boat Holdings Inc., Azimut Benetti Group, Marine Products Corporation, Nitro Boats, Hobie Cat Company Inc., Boston Whaler, Lund Boats, White River Marine Group, Grady-White Boats, Regal Boats, Ranger Boats, Sunseeker International Limited, Baja Marine, Correct Craft, Bayliner, Chaparral Boats, Pacific Asian Enterprises, Fairline, Bavaria Yachtbau, Albemarle Boats, Crestliner Boats, Tracker Boats

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Top Trend - Strategic Partnerships Propel Technological Advancements In The Recreational Boat Market
Major companies operating in the recreational boat market are adopting a strategic partnership approach to enhance their technological offerings. Strategic collaboration refers to a mutually beneficial partnership between two or more independent entities who work together to achieve shared goals aligned with their individual strategic objectives. For instance, in September 2023, GOST (Global Ocean Security Technologies), a US-based marine security systems company, partnered with Boat Fix, a US-based recreational boating telematics company. With this partnership, these companies aim to enhance the technological offerings for the marine industry. GOST will be offering its existing and future customers the GOST 24/7 alarm, anti-theft, and customer support services, in addition to next-level monitoring, alarm management, and vessel recovery for recreational boats.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Recreational Boating Market Characteristics
3. Recreational Boating Market Trends And Strategies
4. Recreational Boating Market - Macro Economic Scenario
5. Recreational Boating Market Size And Growth
…..
27. Recreational Boating Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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