Recreational Boating Market Summary
According to the new market research report “Global Recreational Boating Market Report 2023-2029”, published by QYResearch, the global Recreational Boating market size is projected to reach USD 24.41 billion by 2029, at a CAGR of 3.5% during the forecast period.
- Global Recreational Boating MarketSize(US$ Million), 2018-2029
Based on or includes research from QYResearch: Global Recreational Boating Market Report 2023-2029.
Market Drivers:
Rising Disposable Incomes: Increasing disposable incomes in many regions around the world have led to a higher demand for leisure activities, including recreational boating. People with more disposable income are more likely to invest in boats and related activities.
Growing Interest in Outdoor Recreation: There is a growing interest in outdoor recreational activities, including boating, as people seek ways to enjoy nature and spend quality time with family and friends. Recreational boating offers a versatile and enjoyable way to do so.
Tourism and Travel: Boating is a popular activity for tourists and travelers, particularly in regions with scenic coastlines, lakes, and rivers. This drives demand for boat rentals, tours, and related services, boosting the recreational boating industry.
Advancements in Boat Design and Technology: Technological advancements in boat design, construction materials, propulsion systems, and navigation equipment have improved the safety, comfort, and performance of recreational boats, making them more appealing to potential buyers.
Boating Events and Shows: Boat shows and events provide a platform for manufacturers, dealers, and enthusiasts to showcase and explore the latest boat models and accessories. These events help generate interest and drive sales in the recreational boating industry.
Restraint:
High Initial Investment: Purchasing and maintaining a boat can involve a significant initial investment, which can be a barrier for potential buyers, particularly those with limited financial resources.
Opportunity:
Boat Rental and Sharing Services: The rise of boat rental and sharing platforms, similar to services like Airbnb and car-sharing, provides an opportunity for individuals to experience boating without the need for ownership. This can expand the market by making boating more accessible to a wider audience.
Focus on Sustainability and Eco-Friendly Boating: There is an increasing emphasis on sustainable and eco-friendly boating practices. Manufacturers and operators can tap into this trend by offering boats with environmentally-friendly features and promoting responsible boating practices.
Customization and Personalization: Offering customizable options and personalized experiences can attract buyers looking for unique and tailored boating experiences. This may include customizable features, interior designs, and amenities.
Emerging Markets and Niche Segments: Exploring emerging markets, such as regions with untapped potential for recreational boating, and targeting niche segments (e.g., fishing boats, luxury yachts, electric boats) can lead to new opportunities for growth.
- Global Recreational Boating TopPlayers Rankingand Market Share
Based on or includes research from QYResearch: Global Recreational Boating Market Report 2023-2029.
The global key manufacturers of Recreational Boating include Groupe Beneteau, Brunswick Corporation, Azimut Benetti Group, Lurssen Werft, Ferretti Group, White River Marine Group, Malibu Boats, Sanlorenzo, Mastercraft, Sunseeker International, etc. In 2022, the global top five players had a share approximately 30.0% in terms of revenue.
- Recreational Boating,Global Market Size, Split by Product Segment
Based on or includes research from QYResearch: Global Recreational Boating Market Report 2023-2029.
In terms of product type, currently Motorboats is the largest segment, hold a share of 88.2%.
- Recreational Boating,Global Market Size, Split by ApplicationSegment
Based on or includes research from QYResearch: Global Recreational Boating Market Report 2023-2029.
In terms of product application, currently Commercial is the largest segment, hold a share of 67.9%.
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