Press release
Marinas Market: In-Depth Analysis of Demand Trends, Market Segmentation, and Size Forecasts
Marinas Market
Marinas Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $24.22 billion In 2028 At A CAGR Of 5.1%.
The marinas market size has grown strongly in recent years. It will grow from $18.89 billion in 2023 to $19.87 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to recreational boating trends, waterfront property development, tourism and travel, economic growth in coastal regions, nautical events and competitions..
The marinas market size is expected to see strong growth in the next few years. It will grow to $24.22 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to sustainable and eco-friendly practices, boating lifestyle and experiences, coastal and marine tourism, regulatory and environmental compliance, waterfront property investments.. Major trends in the forecast period include safety and security measures, environmental compliance, upgradation of infrastructure, destination marinas, community and events focus..
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Marinas Market Major Segments
The marinas market covered in this report is segmented -
1) By Type: Private, Public, Commercial
2) By Port Type: Seaport, Inland Port
3) By Application: Pleasure Marinas, Fishing Marinas, Commercial Marinas, Military Marinas
Key Driver - Booming Boating Industry Ignites Marina Market Expansion
The increasing boating industry is expected to propel the growth of the marinas market going forward. The boating industry refers to the sector of the economy that includes the wide range of watercraft of different sizes that are intended to float, fly, work, or travel on water, usually on interior waterways (such as rivers and lakes) or in coastal areas that are protected. A marina offers integrated services such as maintenance, replacement parts, accessories, cleaning, and fuelling in addition to providing a safe environment for boats and yachts, along with restaurants and leisure choices. For instance, in January 2023, according to the National Marine Manufacturers Association (NMMA), a US-based, non-profit trade association representing boat, marine engine, and accessory manufacturers, the sales of new powerboat units in the USA rose in 2022, with an estimated sales of 250,000 new units. Early signs point to a robust demand environment in 2023 as well, with new retail unit sales anticipated to stay consistent with 2022 levels. Therefore, the increasing boating industry is driving the growth of the marina market going forward.
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Prominent Trend - Environmental Sustainability Reshaping The Marinas Market
Environmental sustainability is a key trend gaining popularity in the marinas market. Companies operating in the marinas market are adopting environmental sustainability options to anchor their position in the market. The marina may boost its efficiency and better satisfy its energy needs by installing clean energy sources like solar and wind turbines. For instance, in May 2021, MDL Marinas Ltd, a UK-based, marinas development and operations company, installed solar edge panels. MDL has installed 100 Solar Edge panels, at its Cobb's Quay Marina, where, the electricity generated is used locally with any excess energy being fed back into the grid. Earlier to Cobb's Quay Marina, the company installed solar panels at Hamble Point and Ocean Village marinas, that has contributed 150,000 kWh of energy from April 2020 to February 2021, which is equivalent to planting 1,500 trees per year.
Marinas Market Players
Major companies operating in the marinas market report are Fassmer GmbH & Co. KG, FB Design Srl, LOMOcean Marine Ltd., Sunbird International Yacht Ltd., W Marine Inc., Bellingham Marine, Marinetek India Pvt. Ltd., Meeco Sullivan The Marina Company, SF Marina Systems AB, Ingemar Srl, Poralu Marine Inc., Walcon Marine Ltd., Cubisystem, EZ-Dock Inc., Martini Alfredo S.p.A., IGY Marinas, Safe Harbor Marinas, Suntex Marinas, Westrec Marinas Management Inc., Oasis Marinas LLC, F Marina, Coastal Marina Management LLC, Trident Marina Group LLC, Brewer Yacht Yard Group Inc., Camper & Nicholsons Marinas, Island Global Yachting LLC, Marina Management Services Pvt. Ltd., Marinas International Inc., MarineMax Inc., Morningstar Marinas LLC .
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Largest And Fastest Growing Region In The Market
North America was the largest region in the marinas market in 2023. The regions covered in the marinas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Marinas Market Report Structure
3. Marinas Market Trends And Strategies
4. Marinas Market - Macro Economic Scenario
5. Marinas Market Size And Growth
…..
27. Marinas Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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