Recreational Boat Market with Covid-19 Effect Analysis, Size, Share, Top Key Players Analysis, Trends Forecast to 2025

(CDN Newswire via Comtex)

Recreational Boat Market Summary: 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.

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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 Recreational Boat Market 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

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

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

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Table of Content

Chapter One: Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter Two: Global Recreational Boats Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter Three: Global Recreational Boats Market Dynamics
3.1. Recreational Boats Market Impact Analysis (2018-2026)

Chapter Four: Global Recreational Boats Market Industry Analysis
4.1. Porter's 5 Force Model
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion

Chapter Five: Global Recreational Boats Market, by Rack Units
5.1. Market Snapshot
5.2. Global Recreational Boats Market by Rack Units, Performance - Potential Analysis
5.3. Global Recreational Boats Market Estimates & Forecasts by Rack Units 2016-2026 (USD Billion)
5.4. Recreational Boats Market, Sub Segment Analysis

Chapter Six: Global Recreational Boats Market, by End-User Industry
6.1. Market Snapshot
6.2. Global Recreational Boats Market by End-User Industry, Performance - Potential Analysis
6.3. Global Recreational Boats Market Estimates & Forecasts by End-User Industry 2016-2026 (USD Billion)
6.4. Recreational Boats Market, Sub Segment Analysis

Chapter Seven: Global Recreational Boats Market, Regional Analysis
7.1. Recreational Boats Market, Regional Market Snapshot
7.2. North America Recreational Boats Market
7.3. Europe Recreational Boats Market Snapshot
7.4. Asia-Pacific Recreational Boats Market Snapshot
7.5. Latin America Recreational Boats Market Snapshot
7.6. Rest of The World Recreational Boats Market

Chapter Eight: Competitive Intelligence
8.1. Top Market Strategies
8.2. Company Profiles

Chapter Nine: Research Process
9.1. Research Process
9.2. Research Attributes
9.3. Research Assumption

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Note: Our report does take into account the impact of corona virus pandemic and dedicates qualitative as well as quantitative sections of information within the report that emphasizes the impact of COVID-19.

As this pandemic is ongoing and leading to dynamic shifts in stocks and businesses worldwide, we take into account the current condition and forecast the market data taking into consideration the micro and macroeconomic factors that will be affected by the pandemic.

This content has been distributed via CDN Newswire press release distribution service. For press release enquires please mail us at [email protected].

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