Recreational Boat Market Analysis 2022, Size, Top Players with Share, Total Revenues, Product Scope, Business Development and Opportunities till 2030

Kenneth Research, in its repository of market research reports, have recently added a report on Recreational Boat Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Recreational Boat Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Recreational Boat Market products.

To Understand How Covid-19 Impact Is Covered in This Report -:

Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.

Global Recreational Boat Market is valued approximately USD 26.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.20% over the forecast period 2019-2026. A recreational boats are large motorboats precisely equipped with plumbing, cabin, kitchen, and other entertainment conveniences. The individuals use recreational boats for family gatherings, live events, fishing, and watersports. The recreational boat market is primarily driven owing to surging number of boats for personal use and sports tournaments, escalating disposable income and standard of living of the individuals, escalating demand for outboard boats and escalating tourism sector in both developed and developing countries.

However, the impact of COVID-19 has negatively impacted the tourism sector and recreational activities in both developed and developing countries mainly the middle Eastern and Asian countries which hold large coastlines and witness  thousands of tourists every year ultimately leading to restraining the growth and development of recreational boat market. The surging adoption of boats primarily used for leisure and recreational activities is acting as a key driver towards the adoption and demand of recreational boat market.

For instance: According to the National Marine Manufacturers Association, the total recreational marine expenditure in the United States accounted for $39 billion in 2017 which saw a rise of around 6.5% from year 2016. Further, an estimated of 262,000 new powerboats were sold in the year 2017 which is an increase of 4.7% as compared to 2016 that are widely being used for the leisure and recreational activities. The annual United States retail sales of new boats, marine accessories and marine engines amounted for about  $20.1 billion in the year 2017 that saw an increase of 9.5 per cent. According to the National Marine Manufacturers Association, around 141.6 million American individuals which includes both the male and female population were indulged in boating in 2016. There were estimated 12 million registered boats in the United States from which 30% were used by the individuals for recreational and leisure activities resulting into positively influencing the development and growth of recreational boat market.

also, escalating ownership of Yacht is also creating lucrative opportunity for the growth and development of recreational boat market. According to Statistics from the China Cruise & Yacht industry Association, April 2017, domestic yacht ownership including fishing & sailing boats reached around 19,000 craft out of which 4977  are registered through the China Maritime Safety Administration. In the present scenario, with around 1,034,000 millionaires, 11,000 citizens worth $30 million & a paltry 1 out of every 318super rich owning yachts, China has a wide range of potential considering the market for luxury yachts which is augmenting the demand and adoption of recreational boats market in the country. However, the high maintenance cost and strict pollution norms for recreational boats impedes the growth of the market over the forecast period of 2020-2026.

The regional analysis of global Recreational Boat market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the surging adoption of boats along with escalating disposable income and standard of living of the individuals. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as  surging adoption of outboard boats and escalating domestic yacht ownership would create lucrative growth prospects for the Recreational Boat market across Asia-Pacific region.

Major market player included in this report are:

Brunswick Corporation
Groupe Beneteau
Azimut Benetti Group
Sunseeker International Limited
Marine Product Corporation
Bennington Marine LLC
Ranger Boats
Tractor Boats
Lund Boats
Ferretti Group

To Understand How Covid-19 Impact Is Covered in This Report -:

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Boat Type:
Outboard Boats
Inboard/Stern drive Boats
PWC (Personal Watercraft)

By Application:
Water sports

By Application:
Engine-Powered Boats
Sail-Propelled Boats

By Material:

By Region:
North America
Asia Pacific
Latin America
Rest of the World

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Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026

Target Audience of the Global Recreational Boat Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2026 (USD Billion)
1.2.1. Recreational Boat Market, by Region, 2018-2026 (USD Billion)
1.2.2. Recreational Boat Market, by Boat Type, 2018-2026 (USD Billion)
1.2.3. Recreational Boat Market, by Application, 2018-2026 (USD Billion)
1.2.4. Recreational Boat Market, by Power Type, 2018-2026 (USD Billion)
1.2.5. Recreational Boat Market, by Material, 2018-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Recreational Boat Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Recreational Boat Market Dynamics
3.1. Recreational Boat Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Recreational Boat Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Recreational Boat Market, by Boat Type
5.1. Market Snapshot
5.2. Global Recreational Boat Market by Boat Type, Performance – Potential Analysis
5.3. Global Recreational Boat Market Estimates & Forecasts by Boat Type, 2016-2026 (USD Billion)
5.4. Recreational Boat Market, Sub Segment Analysis
5.4.1. Outboard Boats
5.4.2. Inboard/Stern Drive Boats
5.4.3. PWC (Personal Watercraft)
5.4.4. Sailboats

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