The Global Recreational Boat Market is expected to reach around US$ 28bn by 2031.
Global Recreational Boat Market report from Global Insight Services is the single authoritative source of intelligence on Recreational Boat Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Key Trends and Drivers
In the past decade, the recreational boat market has seen several key trends emerge. One of the most notable has been the move towards more fuel-efficient vessels. This has been driven in part by advances in technology, but also by consumer demand for boats that are more environmentally friendly.
Another key trend has been the growth of the used boat market. This is due in part to the recession, which has made new boats unaffordable for many people. However, it is also due to the fact that there are now a wide variety of high-quality used boats available.
Finally, another trend that has emerged in the recreational boat market is the rise of specialty boats. This includes everything from pontoon boats to wakeboarding boats. This is due to the fact that people are increasingly looking for boats that meet their specific needs and interests.
Restraints & Challenges
The first challenge is the wide array of choices. There are so many different types and models of recreational boats that it can be overwhelming for a consumer. They must take the time to research and compare different boats before making a purchase.
The second challenge is the high cost of some recreational boats. While there are many affordable options on the market, some of the top-of-the-line models can be quite expensive. This can make it difficult for some consumers to justify the cost.
The third challenge is the maintenance and upkeep required for recreational boats. These boats must be regularly serviced and maintained in order to keep them in good condition. This can be a significant expense for some consumers.
Market Segments
By Power
- Engine Powered
- Man Powered
- Sail Propelled
By Product Type
- Inboard Boats
- Outboard Boats
- Inflatable
Key Players
- Azimut Benetti Group
- Brunswick Corporation
- Groupe Beneteau
- Hobie Cat Company
- Marine Products Corporation
- Mastercraft Boat Holdings
- Polaris Inc
- Sunseeker International Limited
- White River Marine Group
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