Recreational boats Market Emerging Trends, Technology, Applications, Production & Forecast to 2028

2022-04-25 06:46:21 UTC | Others
Recreational boats Market Emerging Trends, Technology, Applications, Production & Forecast to 2028

Recreational Boat Market size is projected to reach USD 31.9 Billion by 2025 from an estimated USD 26.9 Billion in 2020, growing at a CAGR of 2.4% globally.

Recreational boat means any vessel manufactured or used primarily for noncommercial use; or leased, rented or chartered to another for the latter’s noncommercial use. Charter boats, head boats or other vessels under the command of a person who is licensed by the United States Coast Guard to carry passengers for hire shall be defined as commercial and therefore exempt from this definition of “recreational boat.” 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.

The recreational boating market is segmented on the basis of power, product type, activity type, size, and region. By power, it is classified into engine powered, man powered, and sail propelled. By product type, it is divided into inboard boats, outboard boats, inflatable, sail boats, and personal watercrafts. On the basis of activity type, the market is bifurcated into watersports & cruising and fishing. By size, it is categorized into less than 30 ft., 30 to 59 ft., 60 to 79 ft., 80 to 99 ft., more than 100 ft., and full custom. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Key Players Covered in Recreational boats Market Are:

·         Brunswick Corporation

·         Groupe Beneteau

·         Malibu Boats

·         Polaris Inc.

·         MasterCraft Boat Company

·         Candela

·         DOMANI Yachts

·         Edorado Marine

·         Elco Motor Yachts

·         Electracraft

 Market has segmented the Recreational boats market on the basis of type, application, and region:

By Type:

·         Yachts

·         Sailboats

·         Personal Watercraft

·         Inflatables

·         Others

 By Application:

·         Outboards

·         Inboards

·         Others

 By Regional Outlook (Revenue, USD Billion, 2017 – 2028)

·         North America (U.S., Canada, Mexico)

·         Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

·         Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)

·         Middle East & Africa (GCC Countries, South Africa, Rest of MEA)

·         South America (Brazil, Argentina, Rest of South America)

COVID-19 Impact Recreational boats market       

The COVID-19 pandemic has had devastating effects on several industry verticals globally. To constrain the number of cases and slow the coronavirus spread, various public health guidelines were implemented in different countries across the globe. COVID-19 protocols ranging from declaring national emergency states, enforcing stay-at-home orders, closing nonessential business operations and schools, banning public gatherings, imposing curfews, distributing digital passes, and allowing police to restrict citizen movements within a country, as well as closing international borders. With the growing vaccination rate, governments are uplifting the protocols to give a boost to the stagnant economy. Like other industries, Recreational boats Market have experienced slowdown the growth, however market is expected bounce back as restrictions are being lifted up by governments across the globe.

Recreational boats Market report covers the detailed analysis on current and upcoming market trends, company market shares, market projections, competitive benchmarking, competition mapping, and in-depth research of the most significant sustainability strategies and their impact on industry growth and competition. The research was conducted using a combination of primary and secondary data, as well as input from leading industry players.

Key features of this report

·         Drivers, restraints, and challenges shaping the Recreational Boating market dynamics

·         Latest innovations and key events in the industry

·         Analysis of business strategies of the top players

·         Recreational Boating market estimates and forecasts(2022 -2028)