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Recreational Boating Market by Power (Engine Powered, Man Powered and Sail Propelled), Product Type (Inboard Boats, Outboard Boats, Inflatable, Sail Boats, and Personal Watercrafts), Activity Type (Watersports & Cruising and Fishing), and Size (Less Than 30 Ft, 30 to 59 Ft, 60 to 79 Ft, 80 to 99 Ft, More Than 100 Ft, and Full Custom): Global Opportunity Analysis and Industry Forecast, 2020–2027
Published Date: October 2021
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Report Code: ALLI-Manu-1N50
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Recreational Boating Market

Recreational Boating Market by Power (Engine Powered, Man Powered and Sail Propelled), Product Type (Inboard Boats, Outboard Boats, Inflatable, Sail Boats, and Personal Watercrafts), Activity Type (Watersports & Cruising and Fishing), and Size (Less Than 30 Ft, 30 to 59 Ft, 60 to 79 Ft, 80 to 99 Ft, More Than 100 Ft, and Full Custom): Global Opportunity Analysis and Industry Forecast, 2020–2027

Code: ALLI-Manu-1N50
Report
October 2021
288 Pages
Allied Market Research
Region: Global,
Description
Table of Content
Tables & Figures

Recreational Boating Market Statistics 2027

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. The factors such as growing interest toward recreational water sport activities and rising water-based tourism, are anticipated to drive the recreational boating 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.

Recreational Boating Market

There has been significant impact on supply chains globally. Boats and engine manufacturing companies have faced huge losses during the first & second quarter of 2020 due to disrupted supply chains and production schedules. The rapid spread of COVID-19 in the U.S., Europe, and Asian economies resulted in nationwide lockdowns and a temporary halt of production facilities to prevent further spread. However, the market started gaining traction soon during the second quarter of 2020, and outboard-powered boats started witnessing a spike in demand for recreational purposes. According to National Marine Manufacturers Association, in May 2020, new boat sales rebounded sharply, up by 59%, compared to April 2020, and up 9% from pre-pandemic levels on a seasonally-adjusted basis.

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. Various types of recreational boats are used for recreational boating, including runabouts, towboats, fishing boats, sailboats, pontoon boats, sterndrive powerboats, jet boats, personal watercraft, propulsion systems, 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.

The recreational boating market is segmented on the basis of power, product type, activity type, size, and region. By power, it is classified into engine powered, man powered, and sail propelled. By product type, it is divided into inboard boats, outboard boats, inflatable, sail boats, and personal watercrafts. On the basis of activity type, the market is bifurcated into watersports & cruising and fishing. By size, it is categorized into less than 30 ft, 30 to 59 ft, 60 to 79 ft, 80 to 99 ft, more than 100 ft, and full custom. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The key players operating in the recreational boating market are Azimut Benetti Group, Brunswick Corporation, Groupe Beneteau, Hobie Cat Company, Marine Products Corporation, Mastercraft Boat Holdings, Inc, Polaris Inc, Sunseeker International Limited, White River Marine Group, and Yamaha Motor Co., Ltd.

Recreational Boating Market

COVID-19 Impact Analysis

There has been significant impact on supply chains globally. Boats and engine manufacturing companies have faced huge losses during the first & second quarter of 2020 due to disrupted supply chains and production schedules. The rapid spread of COVID-19 in the U.S., Europe, and Asian economies resulted in nationwide lockdowns and a temporary halt of production facilities to prevent further spread. However, the recreational boating market started gaining traction soon during the second quarter of 2020, and outboard-powered boats started witnessing a spike in demand for recreational purposes. According to National Marine Manufacturers Association, in May 2020, new boat sales rebounded sharply, up by 59%, compared to April 2020, and up 9% from pre-pandemic levels on a seasonally-adjusted basis.

Growing interest toward recreational water sport activities

Recreational water sports activities include jet skiing, rowing, rafting, kayaking, canoeing, sailing, power boating, yachting, boat racing, and others. Growing interest of consumers toward water sporting activities coupled with improved participation among all age groups has influenced the development of recreational boating facilities across the globe. In addition, watersports are becoming popular not only for the excitement or adrenaline-rush of getting fit but also due to several health benefits. As a result, health benefits associated with water sports are supporting the demand for recreational boating. Moreover, in the recent years, it has been observed that artificial water bodies for kayaking and rafting are gaining increased popularity among water sports enthusiasts. In addition, the rising popularity of sport fishing and motorized watersports, such as jet skiing, sailing, and yachting activities, further fosters the growth of the recreational boating market. Furthermore, in the recent years, various government authorities have actively started accentuating the promotion of water sports. In several countries, initiatives have been commenced to encourage the development of water sports facilities and recreational boating.

Recreational Boating Market

Growth in water-based tourism

Increasing disposable income of customers and growing inclination toward marine tourism & leisure activities, such as sailing, power boating, yachting, and others, are experiencing significant growth in recent years. In addition, adventure travel is growing at a rapid pace and cruise expeditions are witnessing its impact. Furthermore, numerous cruise builders are investing in land-based private islands that allow cruise lines to offer customers exclusive beach time as an extension of the onboard experience. In addition, the natural landscape of countries, which have a sea/ocean as a border attract significant number of international tourists every year, especially from the affluent segment of the population. These countries are also preferred destinations for some promotional events and meetings, during which luxury yachts are leased. Moreover, favorable government initiatives and water tourism awareness programs to promote marine tourism are creating huge opportunities for the recreational boating market.

Recreational Boating Market

High initial & ownership cost of recreational boats

Attributed to the sheer size and complexity, recreational boat construction requires massive facilities and professional workers, which primarily increase the initial manufacturing cost of boat. In addition, the price of an engine equipped in boat is one of the most direct costs associated with a boat. Recreational boats require high performance engine and the amount of horsepower will impact the total cost of the boat. Moreover, fittings and extra features, such as extra storage, seating or custom interiors, increase the initial cost of boats. Furthermore, various costs, such as registration fees, taxes, insurance, mooring or dock fees, regular maintenance, and overhaul maintenance, increase the ownership cost of these boats. For instance, the average annual ownership of these boats is between $3,000 to $10,000 or more. Thus, owing to the high initial and ownership cost, low and middle-income groups are unlikely to spend on recreational boating, which is restraining the market to an extent.

Recreational Boating Market

Technological advancement in boats and boat engines

Innovation in boat engines, such as direct-injection technology, VTEC system, selective gear rotation system, four-stroke technology, and electronic fuel injection capability, increases engine power and drives the demand for recreational boats. Engine manufacturers are developing high powered and low polluting engines to meet consumer demand and reduce emissions from boating activities. Additionally, the launch of two and four-stroke engines with direct injection technology that offers increased fuel economy, low emissions, and more power is promoting the demand for advanced recreational boat Furthermore, market players are introducing twin turbocharged engines offering high torque and power, thereby supporting the demand for boats equipped with high horsepower engines. Moreover, ongoing technological advancements of outboard recreational boats, such as improvement in propulsion systems, joystick docking control, automatic trim controls, and digital throttle controls, strengthen the product demand. In addition, the introduction of outboard boats equipped with such advanced features is increasing the adoption of outboard boats for racing events. Therefore, ongoing technical innovations in boats and boat engines are offering growth opportunities for the recreational boating market.

Key Benefits For Stakeholders

  • This study presents analytical depiction of the global recreational boating market analysis along with current trends and future estimations to depict imminent investment pockets.
  • The overall global recreational boating market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents information related to the key drivers, restraints, and opportunities of the global recreational boating market with a detailed impact analysis.
  • The current global recreational boating market is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Recreational Boating Market Segments

Recreational Boating Market by Power

  • Engine Powered 
  • Man Powered
  • Sail Propelled

Recreational Boating Market by Product Type

  • Inboard Boats
  • Outboard Boats 
  • Inflatable
  • Sail Boats
  • Personal Watercrafts

Recreational Boating Market by Activity Type

  • Watersports & Cruising
  • Fishing

Recreational Boating Market by Size

  • Less Than 30 Ft
  • 30 to 59 Ft
  • 60 to 79 Ft
  • 80 to 99 Ft
  • More Than 100 Ft
  • Full Custom

Recreational Boating Market by Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • South Korea
    • China
    • Japan
    • India
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Major Players in the Recreational Boating Market

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

Scope of the Recreational Boating Market Report

Report Metric

Details

Report Name

Recreational Boating Market

The market size in 2019

USD 29.0 Billion

The revenue forecast in 2027

USD 35.4 Billion

Growth Rate

CAGR of 5.1% from 2020 to 2027

Market size available for years

2020-2027

Forecast units

Value (USD)

Segments covered

Power, Product Type, Activity Type, Size, Regions

Report coverage

Revenue & volume forecast, company share, competitive landscape, growth factors, and trends

Geographic regions covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Frequently Asked Questions About This Report

1. How big is the recreational boating Industry?

Ans. 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.

2. What is the impact of Post COVID-19 scenario in recreational boating market?

Ans. The COVID-19 pandemic outbreak has caused widespread economic downturn as several countries imposed strict lockdowns to contain the infection. This has affected diverse industries; manufacturing is one of the severely impacted sectors. For instance, a major player, Princess Yachts, reported that sales were 50% lower in April 2020 than in April 2019. However, the market started gaining traction soo

3. What are the upcoming trends in recreational boating Industry?

Ans. There are certain upcoming trends in recreational boating such as technological advancement in boats and boat engines and growing high net-worth population

4. Which is the most influencing segment growing in the recreational boating Industry report?

Ans. By product type, personal watercraft segment is expected to gain traction over the forecast period as well as domainate the market share in the global recreational boating market

5. Which region & countries will provide more business opportunities for recreational boating in future?

Ans. Europe region is leading the market presently in terms of revenue. However, Canada, South Korea and India is expected to provide more business opportunities for the key players operating in the global recreational boating market.

6. Who are the key matured markets growing in the recreational boating report?

Ans. Canada, South Korea, India and Africa has wirnessed as a key matured markets growing in the global recreational boating market

Table of Content

 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key findings

3.2.1.Top impacting factors
3.2.2.Top investment pockets
3.2.3.Top winning strategies

3.3.Porter’s five forces analysis
3.4.Market share analysis (2020)
3.5.Market dynamics

3.5.1.Drivers

3.5.1.1.Growing interest toward recreational water sport activities
3.5.1.2.Growth in water-based tourism

3.5.2.Restraints

3.5.2.1.High initial & ownership cost of recreational boats
3.5.2.2.Environmental concerns associated with recreational boating

3.5.3.Opportunities

3.5.3.1.Technological advancement in boats and boat engines
3.5.3.2.Increasing number of high-net worth individuals

3.6.Impact of COVID-19 on the market

3.6.1.Evolution of outbreaks

3.6.1.1.COVID-19

3.6.2.Micro-economic impact analysis

3.6.2.1.Consumer trends
3.6.2.2.Technology trends
3.6.2.3.Regulatory trends

3.6.3.Macro-economic impact analysis

3.6.3.1.GDP
3.6.3.2.Import/export analysis
3.6.3.3.Employment index

3.6.4.Impact on recreational boating industry analysis

CHAPTER 4:RECREATIONAL BOATING MARKET, BY POWER

4.1.Overview
4.2.Engine powered

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market analysis, by country

4.3.Man powered

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market analysis, by country

4.4.Sail propelled

4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast, by region
4.4.3.Market analysis, by country

CHAPTER 5:RECREATIONAL BOATING MARKET, BY PRODUCT TYPE

5.1.Overview
5.2.Inboard boats

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis, by country

5.3.Outboard boats

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis, by country

5.4.Inflatable

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market analysis, by country

5.5.Sail boats

5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, by region
5.5.3.Market analysis, by country

5.6.Personal watercrafts

5.6.1.Key market trends, growth factors, and opportunities
5.6.2.Market size and forecast, by region
5.6.3.Market analysis, by country

CHAPTER 6:RECREATIONAL BOATING MARKET, BY ACTIVITY TYPE

6.1.Overview
6.2.Watersports & cruising

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region
6.2.3.Market analysis, by country

6.3.Fishing

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region
6.3.3.Market analysis, by country

CHAPTER 7:RECREATIONAL BOATING MARKET, BY SIZE

7.1.Overview
7.2.Less than 30 ft

7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by region
7.2.3.Market analysis, by country

7.3.30 to 59 ft

7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by region
7.3.3.Market analysis, by country

7.4.60 to 79 ft

7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by region
7.4.3.Market analysis, by country

7.5.80 to 99 ft

7.5.1.Key market trends, growth factors, and opportunities
7.5.2.Market size and forecast, by region
7.5.3.Market analysis, by country

7.6.More than 100 ft

7.6.1.Key market trends, growth factors, and opportunities
7.6.2.Market size and forecast, by region
7.6.3.Market analysis, by country

7.7.Full custom

7.7.1.Key market trends, growth factors, and opportunities
7.7.2.Market size and forecast, by region
7.7.3.Market analysis, by country

CHAPTER 8:RECREATIONAL BOATING MARKET, BY REGION

8.1.Overview
8.2.North America

8.2.1.Key market trends, growth factors, and opportunities
8.2.2.Market size and forecast, by power
8.2.3.Market size and forecast, by product type
8.2.4.Market size and forecast, by activity type
8.2.5.Market size and forecast, by size
8.2.6.Market size and forecast, by country

8.2.6.1.U.S.

8.2.6.1.1.Market size and forecast, by power
8.2.6.1.2.Market size and forecast, by product type
8.2.6.1.3.Market size and forecast, by activity type
8.2.6.1.4.Market size and forecast, by size

8.2.6.2.Canada

8.2.6.2.1.Market size and forecast, by power
8.2.6.2.2.Market size and forecast, by product type
8.2.6.2.3.Market size and forecast, by activity type
8.2.6.2.4.Market size and forecast, by size

8.2.6.3.Mexico

8.2.6.3.1.Market size and forecast, by power
8.2.6.3.2.Market size and forecast, by product type
8.2.6.3.3.Market size and forecast, by activity type
8.2.6.3.4.Market size and forecast, by size

8.3.Europe

8.3.1.Key market trends, growth factors, and opportunities
8.3.2.Market size and forecast, by power
8.3.3.Market size and forecast, by product type
8.3.4.Market size and forecast, by activity type
8.3.5.Market size and forecast, by size
8.3.6.Market size and forecast, by country

8.3.6.1.U.K.

8.3.6.1.1.Market size and forecast, by power
8.3.6.1.2.Market size and forecast, by product type
8.3.6.1.3.Market size and forecast, by activity type
8.3.6.1.4.Market size and forecast, by size

8.3.6.2.Germany

8.3.6.2.1.Market size and forecast, by power
8.3.6.2.2.Market size and forecast, by product type
8.3.6.2.3.Market size and forecast, by activity type
8.3.6.2.4.Market size and forecast, by size

8.3.6.3.France

8.3.6.3.1.Market size and forecast, by power
8.3.6.3.2.Market size and forecast, by product type
8.3.6.3.3.Market size and forecast, by activity type
8.3.6.3.4.Market size and forecast, by size

8.3.6.4.Italy

8.3.6.4.1.Market size and forecast, by power
8.3.6.4.2.Market size and forecast, by product type
8.3.6.4.3.Market size and forecast, by activity type
8.3.6.4.4.Market size and forecast, by size

8.3.6.5.Rest of Europe

8.3.6.5.1.Market size and forecast, by power
8.3.6.5.2.Market size and forecast, by product type
8.3.6.5.3.Market size and forecast, by activity type
8.3.6.5.4.Market size and forecast, by size

8.4.Asia-Pacific

8.4.1.Key market trends, growth factors, and opportunities
8.4.2.Market size and forecast, by power
8.4.3.Market size and forecast, by product type
8.4.4.Market size and forecast, by activity type
8.4.5.Market size and forecast, by size
8.4.6.Market size and forecast, by country

8.4.6.1.South Korea

8.4.6.1.1.Market size and forecast, by power
8.4.6.1.2.Market size and forecast, by product type
8.4.6.1.3.Market size and forecast, by activity type
8.4.6.1.4.Market size and forecast, by size

8.4.6.2.China

8.4.6.2.1.Market size and forecast, by power
8.4.6.2.2.Market size and forecast, by product type
8.4.6.2.3.Market size and forecast, by activity type
8.4.6.2.4.Market size and forecast, by size

8.4.6.3.Japan

8.4.6.3.1.Market size and forecast, by power
8.4.6.3.2.Market size and forecast, by product type
8.4.6.3.3.Market size and forecast, by activity type
8.4.6.3.4.Market size and forecast, by size

8.4.6.4.India

8.4.6.4.1.Market size and forecast, by power
8.4.6.4.2.Market size and forecast, by product type
8.4.6.4.3.Market size and forecast, by activity type
8.4.6.4.4.Market size and forecast, by size

8.4.6.5.Rest of Asia-Pacific

8.4.6.5.1.Market size and forecast, by power
8.4.6.5.2.Market size and forecast, by product type
8.4.6.5.3.Market size and forecast, by activity type
8.4.6.5.4.Market size and forecast, by size

8.5.LAMEA

8.5.1.Key market trends, growth factors, and opportunities
8.5.2.Market size and forecast, by power
8.5.3.Market size and forecast, by product type
8.5.4.Market size and forecast, by activity type
8.5.5.Market size and forecast, by size
8.5.6.Market size and forecast, by country

8.5.6.1.Latin America

8.5.6.1.1.Market size and forecast, by power
8.5.6.1.2.Market size and forecast, by product type
8.5.6.1.3.Market size and forecast, by activity type
8.5.6.1.4.Market size and forecast, by size

8.5.6.2.Middle East

8.5.6.2.1.Market size and forecast, by power
8.5.6.2.2.Market size and forecast, by product type
8.5.6.2.3.Market size and forecast, by activity type
8.5.6.2.4.Market size and forecast, by size

8.5.6.3.Africa

8.5.6.3.1.Market size and forecast, by power
8.5.6.3.2.Market size and forecast, by product type
8.5.6.3.3.Market size and forecast, by activity type
8.5.6.3.4.Market size and forecast, by size

CHAPTER 9:COMPANY PROFILES

9.1.AZIMUT BENETTI GROUP

9.1.1.Company overview
9.1.2.Key executives
9.1.3.Company snapshot
9.1.4.Product portfolio
9.1.5.Key strategic moves and developments

9.2.BRUNSWICK CORPORATION

9.2.1.Company overview
9.2.2.Key executives
9.2.3.Company snapshot
9.2.4.Operating business segments
9.2.5.Product portfolio
9.2.6.R&D expenditure
9.2.7.Business performance
9.2.8.Key strategic moves and developments

9.3.GROUPE BENETEAU

9.3.1.Company overview
9.3.2.Key executives
9.3.3.Company snapshot
9.3.4.Operating business segments
9.3.5.Product portfolio
9.3.6.Business performance
9.3.7.Key strategic moves and developments

9.4.HOBIE CAT COMPANY

9.4.1.Company overview
9.4.2.Key executives
9.4.3.Company snapshot
9.4.4.Product portfolio

9.5.MARINE PRODUCTS CORPORATION

9.5.1.Company overview
9.5.2.Key executives
9.5.3.Company snapshot
9.5.4.Product portfolio
9.5.5.Business performance

9.6.MASTERCRAFT BOAT HOLDINGS, INC.

9.6.1.Company overview
9.6.2.Key executives
9.6.3.Company snapshot
9.6.4.Operating business segments
9.6.5.Product portfolio
9.6.6.R&D expenditure
9.6.7.Business performance
9.6.8.Key strategic moves and developments

9.7.POLARIS INC.

9.7.1.Company overview
9.7.2.Key executives
9.7.3.Company snapshot
9.7.4.Operating business segments
9.7.5.Product portfolio
9.7.6.R&D expenditure
9.7.7.Business performance
9.7.8.Key strategic moves and developments

9.8.SUNSEEKER INTERNATIONAL LIMITED

9.8.1.Company overview
9.8.2.Key executives
9.8.3.Company snapshot
9.8.4.Product portfolio
9.8.5.Key strategic moves and developments

9.9.WHITE RIVER MARINE GROUP

9.9.1.Company overview
9.9.2.Key executives
9.9.3.Company snapshot
9.9.4.Product portfolio
9.9.5.Key strategic moves and developments

9.10.YAMAHA MOTOR CO., LTD.

9.10.1.Company overview
9.10.2.Key executives
9.10.3.Company snapshot
9.10.4.Operating business segments
9.10.5.Product portfolio
9.10.6.R&D expenditure
9.10.7.Business performance
9.10.8.Key strategic moves and developments

List of Tables & Figures

 

 

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An inboardoutboard contains a hybrid of an inboard and an outboard where the internal combustion engine is installed inside the boat and the gearbox and propeller are outside.Market Analysis and Insights Global Motorboat MarketDue to the COVID19 pandemic the global Motorboat market size is estimated to be worth US 50220 million in 2022 and is forecast to a readjusted size of US 76640 million by 2028 with a CAGR of 7.3 during the review period.

120 Pages
Type: Report
Code: QYRE-Auto-38H9023
Fri Jan 07 00:00:00 UTC 2022

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