Overview and Scope
Marina is a water-based infrastructure, often found in harbors, docks, or basins, with convenient access to bigger bodies of water, where yachts and other small boats can be moored. Marinas provide a whole range of services and options, encompassing docking, mooring, sales, service, storage, and winterizing.
Sizing and Forecast
The marinas market size has grown strongly in recent years. It will grow from $18.89 billion in 2023 to $19.87 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to recreational boating trends, waterfront property development, tourism and travel, economic growth in coastal regions, nautical events and competitions..
The marinas market size is expected to see strong growth in the next few years. It will grow to $24.22 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to sustainable and eco-friendly practices, boating lifestyle and experiences, coastal and marine tourism, regulatory and environmental compliance, waterfront property investments.. Major trends in the forecast period include safety and security measures, environmental compliance, upgradation of infrastructure, destination marinas, community and events focus..
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Segmentation & Regional Insights
The marinas market covered in this report is segmented –
1) By Type: Private, Public, Commercial
2) By Port Type: Seaport, Inland Port
3) By Application: Pleasure Marinas, Fishing Marinas, Commercial Marinas, Military Marinas
North America was the largest region in the marinas market in 2023. The regions covered in the marinas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing boating industry is expected to propel the growth of the marinas market going forward. The boating industry refers to the sector of the economy that includes the wide range of watercraft of different sizes that are intended to float, fly, work, or travel on water, usually on interior waterways (such as rivers and lakes) or in coastal areas that are protected. A marina offers integrated services such as maintenance, replacement parts, accessories, cleaning, and fuelling in addition to providing a safe environment for boats and yachts, along with restaurants and leisure choices. For instance, in January 2023, according to the National Marine Manufacturers Association (NMMA), a US-based, non-profit trade association representing boat, marine engine, and accessory manufacturers, the sales of new powerboat units in the USA rose in 2022, with an estimated sales of 250,000 new units. Early signs point to a robust demand environment in 2023 as well, with new retail unit sales anticipated to stay consistent with 2022 levels. Therefore, the increasing boating industry is driving the growth of the marina market going forward.
Key Industry Players
Major companies operating in the marina market are adopting a strategic partnership approach to expand the marina business. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in September 2023, Azimut Benetti, an Italy-based yacht manufacturing company partnered with D-Marin, a Turkey-based marina management company. The collaboration aims to amplify D-Marin’s presence and influence in the Mediterranean, with a specific focus on expanding its marina business and advancing nautical tourism. As a result of this strategic alliance, D-Marin augments its existing portfolio of 20 marinas by acquiring a substantial stake in Marina di Valletta in Malta and Porto Mediceo in Livorno. This move translates into the addition of three new marinas, encompassing 1,800 berths, strengthening D-Marin’s foothold in the Mediterranean region.
The marinas market report table of contents includes:
1. Executive Summary
2. Marinas Market Characteristics
3. Marinas Market Trends And Strategies
4. Marinas Market – Macro Economic Scenario
5. Global Marinas Market Size and Growth
….
31. Global Marinas Market Competitive Benchmarking
32. Global Marinas Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Marinas Market
34. Marinas Market Future Outlook and Potential Analysis
35. Appendix
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