The largest portion of the global recreational boating industry is accounted for by North America. The U.S. dominates the market for recreational boats in North America. The annual recreational boating participation rate in the United States is about 34%. Around 75 million Americans engaged in recreational boating in 2010. By the end of 2013, the number had climbed to over 88.5 million. The recreational boating market is anticipated to rise as a result of this increase in recreational boating activity in North America.
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More people are taking up recreational boating as a result of advances in boat technology, larger boats, an increase in the population of high net worth individuals, a strengthening economy, a booming travel and tourism sector, and innovative boat engines. This expanding interest fuels the global industry for recreational boating.
Recreational boating currently makes up a very small portion of the global leisure industry, but over the next few years, it is anticipated that its share will rise. This industry was severely impacted by the global recession because demand in important markets like the US and Europe was negatively impacted by the slowdown in the global economy.
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Europe is the second largest market for recreational boating after North America. Italy, UK, Germany and France are some of the major recreational boating markets in European region. The share of recreational boating market is expected to grow at higher rate in Europe region as compared to North America. Growing demand of luxury cruisers is expected to help the market growth in the European recreational boating market. Leisure ports and cruise shipping have huge potential for economic growth with low environmental impact.
Growing coastal and maritime tourism makes significant contribution in the growth of recreational boating market in Europe. Asia Pacific region is also one of the prominent markets for recreational boating. Rising economy in China, India, Southeast Asia, and Korea and growing interest towards boat riding help in the growth of recreational boating market in Asia Pacific countries. Growing income levels in the developing nations in Asia Pacific region allows the consumers to spend on premium recreational activities such as recreational boating.
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Key geographies evaluated in this report are: (Recreational Boating Market)
North America
- US
- Canada
Europe
- France, Germany, Italy, Spain, and the UK
- Eastern Europe
- CIS
APAC
- China
- India
- Japan
- Australia
- Others
Latin America
- Argentina
- Brazil
- Others
Key features of this report
- Drivers, restraints, and challenges shaping the Recreational Boating market dynamics
- Latest innovations and key events in the industry
- Analysis of business strategies of the top players
- Recreational Boating market estimates and forecasts(2015 -2021)
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