Recreational Boating Market Set to Expand at a Staggering 5.1% CAGR, Reaching $35.4 billion by 2027

The 𝐑𝐞𝐜𝐫𝐞𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐁𝐨𝐚𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 report provides an extensive analysis of changing market trends, major segments, key investment pockets, value chain, regional scenario, and competitive landscape. Surge in inclination toward recreational water sport activities and rise in water-based tourism fuel the global recreational boating market growth.

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

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.

Increase in interest toward recreational water sport activities and surge in water-based tourism drive the growth of the global recreational boating market. However, high initial costs of ownership and environmental concerns related to recreational boats hinder the market growth. On the other hand, technological advancements in boats and boat engines create new opportunities in the coming years.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, Europe held the highest market share in 2019, accounting for more than half of the total share, and is estimated to maintain its lead position by 2027. However, LAMEA is projected to witness the fastest CAGR of 7.4% during the forecast period.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/642624b839d0368fc58ddaadf1a3c529

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.

Based on power, the engine powered segment accounted for the highest market share in 2019, holding nearly three-fourths of the total market share, and is expected to maintain its leadership status during the forecast period. Moreover, this segment is projected to manifest the highest CAGR of 5.6% from 2020 to 2027.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐀𝐳𝐢𝐦𝐮𝐭 𝐁𝐞𝐧𝐞𝐭𝐭𝐢 𝐆𝐫𝐨𝐮𝐩, 𝐆𝐫𝐨𝐮𝐩𝐞 𝐁𝐞𝐧𝐞𝐭𝐞𝐚𝐮, 𝐌𝐚𝐫𝐢𝐧𝐞 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐌𝐚𝐬𝐭𝐞𝐫𝐜𝐫𝐚𝐟𝐭 𝐁𝐨𝐚𝐭 𝐇𝐨𝐥𝐝𝐢𝐧𝐠𝐬, 𝐈𝐧𝐜, 𝐒𝐮𝐧𝐬𝐞𝐞𝐤𝐞𝐫 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐋𝐢𝐦𝐢𝐭𝐞𝐝, 𝐘𝐚𝐦𝐚𝐡𝐚 𝐌𝐨𝐭𝐨𝐫 𝐂𝐨., 𝐋𝐭𝐝., 𝐖𝐡𝐢𝐭𝐞 𝐑𝐢𝐯𝐞𝐫 𝐌𝐚𝐫𝐢𝐧𝐞 𝐆𝐫𝐨𝐮𝐩, 𝐇𝐨𝐛𝐢𝐞 𝐂𝐚𝐭 𝐂𝐨𝐦𝐩𝐚𝐧𝐲, 𝐁𝐫𝐮𝐧𝐬𝐰𝐢𝐜𝐤 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐈𝐧𝐜

Based on product type, the inboard boats segment contributed to the highest share in 2019, accounting for nearly two-fifths of the global recreational boating market, and is estimated to continue its dominant share in terms of revenue during the forecast period. However, the personal watercrafts segment is expected to manifest the fastest CAGR of 8.0% from 2020 to 2027.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/5723

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.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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