Recreational boats Market Size Overview
Report highlights Recreational boats Market Size Information By Type, Boat Size,
Engine Placement, Engine Type, Power Range, Material Type, Activity Type, Power
Source, and Region - Forecast till 2032"; The Recreational boats Market Size will surge from USD 19.3
billion in 2023 to USD 32.7 billion by 2032, with a
6.80% CAGR from 2023 to 2032.
The emergence of new water bodies as
tourist hotspots, strong government support, and a concurrent rise in overall
tourism are key factors boosting the market for recreational boats. The market
size is also increased by the expansion in disposable money, notably in Asian
economies where the majority of the young population lives.
Recreational boat construction necessitates
enormous facilities and qualified laborers due to their sheer size and
complexity, which significantly raises the cost of initial boat manufacturing.
Furthermore, one of the most obvious expenses related to a boat is the cost of
the engine that is included in it. High-performance engines are needed for
recreational boats, and the boat's overall price will depend on the horsepower.
Boats for sale offer a wide range of options for those looking to enjoy
life on the water, whether for leisure, sport, or travel. From luxurious yachts
to compact fishing boats, the market for boats for sale caters to diverse needs
and preferences. When searching for boats for sale, potential buyers can
explore various types such as sailboats, speedboats, and pontoon boats, each offering
unique features and benefits. The availability of new and used boats for sale
provides flexibility in budget and choice, ensuring that everyone can find the
perfect vessel to match their lifestyle and requirements.
The process of buying boats for sale involves careful consideration of
several factors, including size, purpose, and condition. Many dealerships and
online platforms offer a comprehensive selection of boats for sale, along with
detailed descriptions and specifications. This helps buyers make informed
decisions when browsing through boats for sale. Additionally, professional
inspections and sea trials are often recommended to ensure the quality and
performance of the boats for sale. With the right research and preparation,
finding boats for sale that meet one's expectations can lead to countless
adventures and enjoyable experiences on the water.
Market Competitive Landscape:
·
Azimut Benetti
Group
·
Bass Pro Group
·
Bombardier
Recreational Products
·
Brunswick
Corporation
·
Bryton Marine
Group
·
Groupe Beneteau
·
Hobie Cat Company
·
Marine Products
Corporation
·
Polaris Inc
·
Sunseeker
International
·
White River
Marine Group
·
Yamaha Motor Co. Ltd.
Market Drivers:
Jet skiing, boat racing, rowing, rafting, kayaking, canoeing, sailing,
power boating, and other water sports are examples of recreational activities
that include the water. Globally, the growth of recreational boating facilities
has been impacted by customers' increasing interest in water sports and
increased engagement across all age groups. In addition, water sports are
growing in popularity due to their numerous health advantages as well as the
thrill or adrenaline rush, they provide when exercising.
Moreover, it has been noted that among fans of water sports, artificial
water bodies for kayaking and rafting are becoming more and more popular. The
market for recreational boats is also being supported by the increased
popularity of motorized water sports like jet skiing, sailing, and yachting.
The promotion of water sports has also recently received active attention from
a number of government agencies. Initiatives have been launched in a number of
nations to promote the construction of water sports facilities and leisure
boating.
A lot of cruise builders are also making investments in land-based
private islands, which enables cruise companies to extend the aboard experience
by providing passengers with exclusive beach time. In addition, the natural
scenery of nations with sea or ocean borders draws a sizable number of visitors
from abroad each year, especially from the wealthy sector of society. These
nations are also popular choices for some business meetings and promotional
occasions when luxury ships are rented. Additionally, the recreational boating
industry is experiencing tremendous growth because of supportive government
initiatives and programs to raise public awareness of the benefits of water
tourism.
Market Segmentation
Yachts, sailboats, personal watercraft, inflatables, and
others are included in the Recreational boats Market Size segmentation, with
respect to boat type.
There are three boat size categories in the recreational boat
market: 30 feet and under, 30 feet to 50 feet, and >50 feet. In 2022, the
market was led by the 30-foot category.
Outboards, Inboards, and other types are included in the
segmentation of the Recreational boats Market Size, depending on the type.
ICE and Electric are two of the engine types included in the Recreational
boats Market Size segmentation. In 2022, the electric sector dominated the
industry.
Up to 100 kW, 100-200 kW, and Above 200 kW are the power
ranges covered in the MRFR report.
Aluminum, Fiberglass, Steel, and Others are included in the Recreational
boats Market Size segmentation by Material Type. In 2022, the market was
dominated by the steel sector.
Cruising+water sports, & Fishing are included in the Recreational
boats Market Size segmentation by Activity Type.
Engine Powered, Boat Shows, & Online Sales are included
in the Recreational boats Market Size segmentation by Power Source.
Regional Insights
Since 2022 (45.80%), the market for
recreational boats in North America has been in the lead. Boating enthusiasts
flock to well-known tourist destinations in North America like Florida,
California, and the Great Lakes. Other market drivers include boating
infrastructure and rental services. Although the U.S. recreational boat market
will maintain its dominance in the area, the Canadian market will grow at the
quickest rate over the coming years.
Recreational boats Market Size Segmentation
Recreational boats Type Outlook
- Yachts
- Sailboats
- Personal Watercrafts
- Inflatables
- Others
Recreational boats Boat Size Outlook
- <30 Feet
- 30-50 Feet
- >50 Feet
Recreational boats Engine Placement Outlook
- Outboards
- Inboards
- Others
Recreational boats Engine Type Outlook
- ICE
- Electric
Recreational boats Power Range Outlook
- Up to 100 kW
- 100-200 kW
- Above 200 kW
Recreational boats Material Type Outlook
- Aluminum
- Fiberglass
- Steel
- Others
Recreational boats Activity Type Outlook
- Crusing+watersports
- Fishing
Recreational boats Power Source Outlook
- Engine Powered
- Boat Shows
- Online Sales
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