• Mon. May 20th, 2024

Recreational Boating Market Growth and Business Opportunities

Recreational Boating Market

Recreational Boating Market

The 𝐑𝐞𝐜𝐫𝐞𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐁𝐨𝐚𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 report provides an extensive analysis of changing market trends, major segments, key investment pockets, value chain, regional scenario, and competitive landscape.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/5723

The global recreational boating market was valued at $29.0 billion in 2019, and is projected to reach $35.4 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027.

Recreational boating is a leisurely activity of traveling on water in a boat. Many individual use this for fun and pleasure activities during outing with family and friends. Recreational boating includes many activities such as boat racing, sailing, campaigning, fishing, and other water sports game such as powerboat racing, sports fishing, kayaking, and others. Recreational boating is usually done for the purpose of making the experience of tourism more enjoyable.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐖𝐡𝐢𝐭𝐞 𝐑𝐢𝐯𝐞𝐫 𝐌𝐚𝐫𝐢𝐧𝐞 𝐆𝐫𝐨𝐮𝐩, 𝐒𝐮𝐧𝐬𝐞𝐞𝐤𝐞𝐫 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐋𝐢𝐦𝐢𝐭𝐞𝐝, 𝐁𝐫𝐮𝐧𝐬𝐰𝐢𝐜𝐤 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐇𝐨𝐛𝐢𝐞 𝐂𝐚𝐭 𝐂𝐨𝐦𝐩𝐚𝐧𝐲, 𝐌𝐚𝐬𝐭𝐞𝐫𝐜𝐫𝐚𝐟𝐭 𝐁𝐨𝐚𝐭 𝐇𝐨𝐥𝐝𝐢𝐧𝐠𝐬, 𝐈𝐧𝐜, 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐈𝐧𝐜, 𝐀𝐳𝐢𝐦𝐮𝐭 𝐁𝐞𝐧𝐞𝐭𝐭𝐢 𝐆𝐫𝐨𝐮𝐩, 𝐆𝐫𝐨𝐮𝐩𝐞 𝐁𝐞𝐧𝐞𝐭𝐞𝐚𝐮, 𝐌𝐚𝐫𝐢𝐧𝐞 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐘𝐚𝐦𝐚𝐡𝐚 𝐌𝐨𝐭𝐨𝐫 𝐂𝐨., 𝐋𝐭𝐝.

Recreational boats, also known as pleasure crafts, are available in different types, including, towboats, sailboat, fishing boat, pontoon boats, and cabin cruisers. These boats are primarily made up of plastic, aluminum, and coated fabrics. Recreational boating events are open to all kinds of boats such as engine powered, sail powered, or man powered.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/3d190fbd864449f24c419bb25c669f0a

The factors such as growing interest toward recreational water sport activities and rising water-based tourism, are anticipated to drive the market growth. However, high initial & ownership cost of recreational boats and environmental concerns associated with recreational boating are expected to hinder the market growth. Further, technological advancement in boats & boat engines and growing high net-worth population are some of the factors expected to offer lucrative opportunities for the market growth during the forecast period.

Based on power, the engine powered segment accounted for the highest market share in 2019, holding nearly three-fourths of the total market share, and is expected to maintain its leadership status during the forecast period. Moreover, this segment is projected to manifest the highest CAGR of 5.6% from 2020 to 2027.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, Europe held the highest market share in 2019, accounting for more than half of the total share, and is estimated to maintain its lead position by 2027. However, LAMEA is projected to witness the fastest CAGR of 7.4% during the forecast period.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/5723

Based on product type, the inboard boats segment contributed to the highest share in 2019, accounting for nearly two-fifths of the global recreational boating market, and is estimated to continue its dominant share in terms of revenue during the forecast period. However, the personal watercrafts segment is expected to manifest the fastest CAGR of 8.0% from 2020 to 2027.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

On the basis of power, the engine powered segment is anticipated to exhibit a remarkable growth during the forecast period.

On the basis of product type, the inboard boats segment is the highest contributor to the recreational boating market in terms of revenue.

By activity type, the watersports & cruising segment is the highest contributor to the recreational boating market in terms of revenue.

On the size, the more than 100 ft segment is anticipated to exhibit a remarkable growth during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Solar Boat Market – https://www.globenewswire.com/news-release/2022/09/30/2526248/0/en/Solar-Boat-Market-to-Reach-2-4-Billion-by-2031-Allied-Market-Research.html

Minibus Market – https://www.globenewswire.com/news-release/2024/01/22/2812718/0/en/Minibus-Market-to-Reach-15-5-billion-Globally-by-2032-at-4-7-CAGR-Allied-Market-Research.html

Two-Wheeler Market – https://www.prnewswire.com/news-releases/two-wheeler-market-to-reach-260-60-billion-globally-by-2032-at-6-4-cagr-allied-market-research-302000089.html#:~:text=Two%2DWheeler%20Market%20to%20Reach,6.4%25%20CAGR%3A%20Allied%20Market%20Research

Smart Railway Market – https://www.prnewswire.com/news-releases/smart-railway-market-to-reach-38-46-billion-globally-by-2027-at-12-8-cagr-says-allied-market-research-301210699.html

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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