The Recreational Boating Global Market Report 2023 by The Business Research Company, provides recreational boating market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032
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According to The Business Research Company’s Recreational Boating Global Market Report 2023, the market size is expected to grow from $28.71 billion in 2022 to $31.04 billion in 2023, at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global recreational boating is expected to grow to $44.04 billion in 2027 at a CAGR of 9.1%.
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.
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The recreational boating market 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
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 boating market report table of contents includes:
1. Executive Summary
2. Recreational Boating Market Characteristics
3. Recreational Boating Market Trends And Strategies
4. Recreational Boating Market – Macro Economic Scenario
5. Recreational Boating Market Size And Growth
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26. Africa Recreational Boating Market
27. Recreational Boating Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Recreational Boating Market
29. Recreational Boating Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Azimut Benetti Group
- Brunswick Corporation
- Groupe Beneteau
- Sunseeker International Limited
- Hobie Cat Company Inc
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