Recreational Boating Market Sets Sail for Growth: Market Share Analysis, Key Trends, Competitive Landscape, and Future Outlook Highlighted

The new report published by The Business Research Company, titled "Recreational Boating Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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%.

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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.

The Rise Of New Product Development In The Recreational Boating Market
New product development is a key trend gaining popularity in the recreational boating market. Companies are developing new products to support the recreational boating market. New product launches help players in expanding their product portfolio, acquire new customers, and enhancing their market presence. For instance, in June 2021, Sunseeker a UK-based company specializing in making luxury motor yachts has launched their new 100 yacht, which features a master suite, private bow terrace, sunbathing hideaways, and luxurious furnishings. The yacht is powered by the best engines MTU 12V 2000 M96X and MTU 16V 2000 M96L and it can also accommodate smaller jet boats for water activities. This new model boasts several industry-first features and entertainment possibilities, including an open-plan bow to stern entertainment flybridge and a king Stateroom with private access to the bow terrace.

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

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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

Contents of the report:
1. Executive Summary
2. Recreational Boating Market Report Structure
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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