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Recreational Boating Market by Power, Product Type, Activity Type and Size : Global Opportunity Analysis and Industry Forecast, 2020–2027

Recreational Boating Market by Power, Product Type, Activity Type and Size : Global Opportunity Analysis and Industry Forecast, 2020–2027

  • June 2021
  • 288 pages
  • ID: 6126627
  • Format: PDF
  • Allied Market Research

Summary

Table of Contents

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

Recreational boating is referred to an activity of traveling on a lake, river or coastal area in a recreational boat for pleasure. It is done using a boat whether powerboats, sailboats, or man-powered vessels such as rowing and paddle boats. They are used for several activities such as water sports, camping, fishing, boat racing, sailing, and cruising. Recreational boating is usually done for the purpose of making the experience of tourism more enjoyable. Recreational boats, also known as pleasure crafts, are available in different types, including, towboats, sailboat, fishing boat, pontoon boats, and cabin cruisers.
The factors, such as growing interest toward recreational water sport activities and rising water-based tourism, are anticipated to drive the 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.
The 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 categorized into watersports & cruising and fishing. By size, it is bifurcated 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.
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 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.

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.


KEY MARKET SEGMENTS

By Power
o Engine Powered
o Man Powered
o Sail Propelled

By Product Type
o Inboard Boats
o Outboard Boats
o Inflatable
o Sail Boats
o Personal Watercrafts

By Activity Type
o Watersports & Cruising
o Fishing

By Size
o Less Than 30 Ft
o 30 to 59 Ft
o 60 to 79 Ft
o 80 to 99 Ft
o More Than 100 Ft
o Full Custom

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

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

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