Press release
Global Outboard Boats Market Comprehensive Study: Forecasted Market Size And Growth Rate | Bombardier Products Inc., Brunswick Corporation, Campion marine Inc., Cantieri Capilli SRL, Groupe Beneteau
Outboard Boats Market Characteristics
The Business Research Company offers in-depth market insights through Outboard Boats 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 outboard boats market size has grown strongly in recent years. It will grow from $5.74 billion in 2023 to $6.29 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to consumer preferences, boating regulations, environmental concerns, boating infrastructure, cultural shifts..
The outboard boats market size is expected to see strong growth in the next few years. It will grow to $8.92 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to safety features integration, rising disposable income, online sales channels, electric propulsion adoption, boating tourism.. Major trends in the forecast period include hybrid and electric propulsion, modular and customizable design, autonomous and assisted navigation, luxury and high-performance segments, enhanced connectivity..
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Market Segmentation:
The outboard boats market covered in this report is segmented -
1) By Type: Recreational Boats, Rigid Inflatable Boats, Small Utility Boats
2) By Application: Tourism, Water Sport, Commercial Activity, Leisure Activity
3) By End User: Fishing, Water Taxi, Transportation, Hospitality Business
Major Driver - Surge In Recreational Activities Drives Growth In Outboard Boat Market
The increase in the demand for recreational activities is expected to propel the growth of the outboard boat market going forward. Recreational activity refers to any indoor or outdoor activity performed during leisure time for exercise, relaxation, and pleasure. Outboard boats are becoming increasingly popular among aquatic sports and recreational enthusiasts due to their versatility, simplicity of use, and affordability. For instance, in 2023, according to the Outdoor Foundation, a US-based association, in 2022, the number of participants in outdoor recreation increased by 2.3%, reaching a new high of 168.1 million individuals, constituting 55% of the U.S. population aged six and above. Therefore, the increase in the demand for recreational activities is driving the growth of the outboard boat market.
Competitive Landscape:
Major companies operating in the outboard boats market report are Bombardier Products Inc., Brunswick Corporation, Campion marine Inc., Cantieri Capilli SRL, Groupe Beneteau, Polaris Inc., Poseidon Boats, White River Marine Group, Nimbus Group, Sightseer Marine Inc., Marine Products Corporation, Waterline Systems Inc., Mahindra & Mahindra, Ribcraft Ltd., Scout Boats, Seaark LLC, Stingray Boats, Zodiac Milpro Inc., Ferretti Group, Tracker Boats, Bravia Yachtbau, Yamaha Motor Co. Ltd., Malibu Boats Inc., MasterCraft Boat Holdings Inc., Bass Cat Boats, Chaparral Boats Inc., Cobalt Boats, Crownline Boats, Grady-White Boats Inc., Hewescraft, Cruisers Yachts, Lowe Boats, Lund Boat Company Inc., Tracker Marine Group, NauticStar Boats, Regal Boats, Robalo Boats, Skeeter Products Inc., Sportsman Boats Manufacturing Inc., Starcraft Marine LLC, Stratos Boats, Sylvan Marine, Fisherman's Boat Group Inc. .
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Top Trend - Transformative Technologies Reshape The Outboard Boat Market
Implementation of advanced technologies is a key trend gaining popularity in the outboard boat market. Major companies operating in the outboard boat market are focused on developing innovative solutions to strengthen their position in the market. For instance, in September 2021, Yamaha Motor Co., Ltd., a Japan-based manufacturer of motorcycles and marine equipment, launched HARMO, a vessel equipped with a novel method of boat maneuvering as well as an electronic propulsion system and steering control system. HARMO is a 'next-generation boat-maneuvering system platform' that includes an electric motor-powered propulsion device, a remote control box, and a joystick for easier operation developed to offer a smart package boat that provides passengers with more luxury because of the distinctive quietness of electric motors.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Outboard Boats Market Characteristics
3. Outboard Boats Market Trends And Strategies
4. Outboard Boats Market - Macro Economic Scenario
5. Outboard Boats Market Size And Growth
…..
27. Outboard Boats Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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