Recreational Boating Market Trends, Industry Statistics and Analysis, 2017 - 2024: Global Market Insights Inc.

The Recreational Boating Market trends are analyzed from recent past with an eye on coming years in this report that also offers projections for Recreational Boating industry targeted at helping in business decisions. Recreational Boating Market size will expand owing to growing disposable income & consumer and increasing interest from young boaters during the forecast period.

Improving economies resulting in growing disposable income, consumer spending and low interest rates are contributing to the strong recreational boating market growth. Manufacturers are developing smaller boats such as watersport boats, day boats and pontoons that are affordable to the young enthusiast. Increasing versatility of the boat that provide all in one experience from fishing to cruising to watersports is expected to increase the demand for the product. Boat charting or selling pre-owned boats also contributes to the industry growth. In 2015, the sale of pre-owned boats was increased by nearly 1.5% than the previous year.

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Traditional boat building procedures and small-scale production of SMEs may not fulfill the increasing demand of the product. Further, lack of harmonized standards between various countries, lack of access to finance for SMEs and export barriers due to import tariff may hamper the growth during the forecast period. Recreational boating services is dependent upon factors such as local demand, non-resident visit to coastal regions which creates difficulties in long term planning of development and investments. This may restrict the industry growth.

By material, the industry is segmented as aluminum, steel and fiberglass. The fiberglass boats are dominating the global market is expected to continue its dominance over the forecast timeframe. This is attributed to strength of the material which is required to build high performance powerboat. The lightweight is achieved inserting the core material made of balsa or foam between the layers of fiberglass.

Europe follows North America recreational boating market with UK, Germany, France, Italy contributing to most of the market in Europe. Italy dominates the European recreational boating market acquiring more than 25% of the regional production. Growing coastal and maritime tourism is supporting the industry growth in this region. Leisure ports, cruise shipping and luxury cruisers will drive the demand for recreational boating market in Europe. The regional growth is projected to surpass the North America during the forecast timeframe, unstable economic condition in Europe may hamper the growth in the European market.

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Some of the companies in global recreational boating market are Azimut Benetti, General Motors company, Suzuki Motor Corporation, Groupe Beneteau, Platinum equity, Ferretti, Sunseeker, Bavarian, Sealine Attwood, Zodiac Marine & Pool, Rodriguez, Princess, Baja Marine, Avon Inflatables, Carlisle Paddles, Bombardier Recreational Products Incorporated, Caterpillar Incorporated, Crusader Marine Engines, Honda Motor Company, Godfray Marine, Interphase Technologies, KCS International Incorporated, Kawasaki Heavy Industries Limited, Pleasurecraft Engine Group, Fountain Powerboat Industries, TUI Marine, Dream Yacht Charer,Hydra Sports Boats and Yamaha Motor Company.

Recreational Boating Market Size, Industry Outlook, Regional Analysis (U.S., Canada, Germany, France, UK, Italy, Russia, China, Japan, India, Thailand, Indonesia, Malaysia, Australia, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development, Competitive Landscape & Forecast, 2017 – 2024

https://www.gminsights.com/industry-analysis/recreational-boating-market

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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