Global Recreational Boating Market Anticipated To Touch USD 14.8 BN By 2025
Posted On April 18, 2019
The Global Recreational Boating Market is foreseen to reach USD 14.8 BN by 2025 as per the latest publications from Value Market Research. The market was valued at USD 11.4 BN (by revenue) in 2018 and is with expects a CAGR of 3.8% between 2019 and 2025. Recreational boats are basically used for fun and pleasure activities especially during outings. Recreational boating’s include many activities such as racing, campaigning, sailing, fishing, and other water sports game. Runabouts, towboats, sailboats, fishing boats, sterndrive powerboats, pontoon boats, jet boats, personal watercraft, propulsion systems, and cabin cruisers are some of the types of recreational boats.
As per the report the growing interest of people in leisure activities such as traveling, fishing, water skiing, and sports is fueling the global recreational boating market. Expanding coastal and maritime tourism along with the rising usage of recreational boats for numerous activities such as boat racing, motorized water sports, sailing, and campaigning will positively impact market growth under the study period. Rising demand for water sports such as skiing coupled with the technological innovation in terms of the engine is also expected to support the market growth over the forecasted timeline.
The report “Global Recreational Boating Market Report By Product (Inboard Boats And Outboard Boats), By Application (Fishing, Water Skiing, Travel And Other) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2018-2025" offer an in-depth and holistic understanding of the market with extensive coverage across the various market specific parameters.
Segmentation section of the report includes product, application, and region. Product segment includes inboard boats and outboard boats. Out of which, the outboard is dominating the market owing to its cost-effectiveness, easy maintenance and highly reliable. Also, it is more spacious than inboard boats which are further fueling the product demand. Application area covers fishing, water skiing, travel and other. The fishing segment is dominating the market and is likely to maintain its dominance over the forecast period. This can be attributed to the growing interest of the people towards leisure activities especially for fishing. Geographical studies cover North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America is leading the global recreational boating market owing to the established marine industry in countries like U.S. and Canada coupled with the rising number of participants in the region.
The Report Segments Global Recreational Boating Market -
- Inboard Boats
- Outboard Boats
- Water Skiing
- North America
- Latin America
- Middle East and Africa
Players Profiled In The Report:
Beneteau, Brunswick Corporation, Ferretti, Grand Banks Yachts, Gulf Craft Inc, Horizon Boats, Marine Products Corporation and Sanlorenzo.
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