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)