Dublin, Aug. 12, 2019 (GLOBE NEWSWIRE) -- The "Recreational Boats Market by Boat Type, Power Source, Activity Type, Distribution Channel, and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The recreational boats market is estimated to grow from USD 26,783 million in 2019 and projected to reach 33,678 million in 2027, at a CAGR of 3.02%.
Rising disposable income has resulted in an increase in leisure spending such as the purchase of recreational boats
The recreational boats can be used for conducting different activities like watersports, sailing, fishing, and cruising. High consumer confidence towards the growth of technology and high features getting inducted in the boats are some of the major factors which will drive the recreational boat market. Strict pollution norms with respect to recreational boats is a major obstacle for the growth in regions like Europe and North America.
Outboard boat types are expected to be the largest selling boats and will continue in the future till 2027
Outboard boats have a lot of advantages over other boat types such as easy access of engine mounting, more spacious deck area, etc., and thus give benefits such as cost-effectiveness, easy maintenance, and easy serviceability with high reliability. Outboard boats are available with a wide range of engines (V6 to V8) depending upon the user preference.
Cruising + Watersports activity is forecasted to be the largest activity type preferred by the boaters
It has been observed that regions like Asia Oceania (Australia, New Zealand, and China) are preferring more adventure and sports activities (Offshore and Onshore). It has been assumed that this activity provides a lot of health benefits like stress relieving, greater physical activity, etc. Efforts are also being taken by the developing countries like India to promote these activities to boost tourism.
Asia Oceania is the largest market for recreational boats, followed by North America
Chinese economic growth is stable and transition to the service led economy is supporting the rising income of the people and hence the Chinese boating segment has promising growth in the future. Other Asian countries such as Japan, Korea, and India are showcasing promising growth for the years 2017-2018 and will continue till 2027. The Asian market is a production hub for the European and North American manufacturers.
In Australia and New Zealand, local demand for foreign-made boats has been rising because the domestic manufacturers are struggling to compete with the international players. Maximum imports were led by inboard boats from the US, the UK, and Italy and outboard boats from the US and France. Germany is exporting sailboats to Australia and New Zealand.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Global Recreational Boats Market, 2019 Vs. 2027 (USD Million)
4.2 Global Recreational Boats Market, By Region, 2019 (USD Million)
4.3 Global Recreational Boats Market, By Country (In %)
4.4 Global Recreational Boats Market, By Activity Type, 2019 Vs. 2027 (USD Million)
4.5 Global Recreational Boats Market, By Boats Type, 2019 Vs. 2027 (USD Million)
4.6 Global Recreational Boats Market, By Power Source, 2019 Vs. 2027 (USD Million)
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth in the GDP and Disposable Income
5.2.1.2 Increasing Number Of Boat Shows and Tournaments
5.2.1.3 Integration Of New Technologies in the Boats
5.2.2 Restraints
5.2.2.1 Attracting New Families and Youngsters To Purchase A New Boat
5.2.2.2 Strict Pollution Norms for Recreational Boats
5.2.3 Opportunities
5.2.3.1 Growing Demand for Outboard Boats
5.2.3.2 Retrofitting and Maintenance Of Boats
5.2.4 Challenges
5.2.4.1 Trade Barriers Between Different Regions
5.2.4.2 Finding Qualified and Experienced Technicians
6 Industry Trends
6.1 Introduction
6.2 Technology Overview
6.2.1 Recreational Boats Evolution
6.2.2 More Sophisticated Electronics for Both Navigation and Entertainment
6.2.3 Adoption Of Digital Controls in Boats Engines
6.2.4 Move Towards Automated Systems for Manufacturing
6.2.5 Assisted Docking System
6.3 Porter's Five Forces
6.4 Value Chain Analysis
7 Recreational Boats Market, By Distribution Channel
7.1 Observations (Dealers, Boat Shows, and Online Medium for Sales Of Recreational Boats)
8 Recreational Boats Market, By Boat Type
8.1 Introduction
8.2 Research Methodology
8.3 Key Industry Insights
8.3.1 Outboard Boats are Estimated To Lead the Market Both By Value and Volume
8.4 Outboard Boats
8.4.1 North America is Expected To Lead the Outboard Market By Volume and Value
8.5 Inboard/Stern Type Boats
8.5.1 North America is Estimated To Lead the Market By Volume Inboard/Stern-type Boats: By Region
8.6 Personal Watercraft Boats
8.6.1 Asia Oceania is Expected To Lead the Market By Volume
8.7 Sail Boats/ Yachts
8.7.1 Asia Oceania is Expected To Lead the Market, By Volume and Value
8.8 Rigid Inflatable Boats
8.8.1 Asia Oceania is Expected To Lead the Market, By Volume and Value
9 Recreational Boats Market, By Activity Type
9.1 Introduction
9.2 Research Methodology
9.3 Key Industry Insights
9.3.1 Cruising+Watersports Segment is Expected To Grow at A Faster Rate Both By Volume and Value
9.4 Cruising+Watersports
9.4.1 Asia Oceania is Expected To Be the Largest Market for Cruising + Watersports Activities By Volume
9.5 Fishing
9.5.1 North America is Expected To Lead the Market in Terms Of Volume
10 Recreational Boats Market, By Power Source
10.1 Introduction
10.2 Research Methodology
10.2.1 Key Industry Insights
10.2.2 Engine Powered Segment is Expected To Lead the Market Globally, By Volume and Value
10.3 Engine Powered Recreational Boats
10.3.1 Asia Oceania is Expected To Lead the Market, By Volume
10.4 Sail Powered Recreational Boats
10.4.1 North America is Expected To Lead the Market in Terms Of Volume and Value
10.5 Human Powered Recreational Boats
10.5.1 Europe is Expected To Lead the Human Powered Boats Market, By Value
11 Global Recreational Boats Market, By Region
12 Competitive Landscape
12.1 Overview
12.2 Global Recreational Boats Market: Market Ranking Analysis
12.3 Competitive Scenario
12.4 Competitive Leadership Mapping
13 Company Profiles
13.1 Brunswick
13.2 Groupe Beneteau
13.3 Azimut Benetti Group
13.4 Sunseeker International Limited
13.5 Bennington Marine LLC
13.6 Marine Product Corporation
13.7 Catalina Yachts
13.8 Ranger Boats
13.9 Hobie CAT Company
13.10 Tracker Boats
13.11 Lund Boats
13.12 Godfrey Pontoon Group
13.13 Ferretti Group
13.14 Mahindra Odyssea
13.15 Bavaria Yachtbau
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