Recreational Boating Market Size, Share, Growth, Forecast 2030

Recreational Boating Market Insights

According to a report from Zion Market Research, the global Recreational Boating Market was valued at USD 18.69 Billion in 2023 and is projected to hit USD 32.66 Billion by 2032, with a compound annual growth rate (CAGR) of 6.4% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Recreational Boating Market industry over the next decade.

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Recreational Boating Marke: Overview                          

The global Recreational Boating Market accounted for USD 27.7 Billion in 2020 and is expected to reach USD 42.2 Billion by 2028, growing at a CAGR of around 5.3% between 2021 and 2028.

The recreational boat is usually designed for the purpose of making the experience of tourism more enjoyable and full of fun. These boats are also known as pleasure craft boats. People use these boats to enjoy while outing with their families, friends, and colleagues. The recreational boat is used for many activities such as fishing, boat racing, water sports game, campaigning, and sailing. Materials used for the manufacturing of these boats consist of coated fabrics, plastic, and aluminum.

COVID-19 Impact Analysis:

The Covid-impact is severely impacting the various industry due to disruption from the coronavirus outbreak since the industry requires more human labor. The reduction of orders, halting of manufacturing operations, and shortage of labor are likely to continue to impact various applications, thereby affecting the Recreational Boating market.

COVID-19 has impacted businesses across the globe. The imposed lockdown and spread of the contagious virus have slowed down the operations in various industries including consumer, electronics, boating, and many more. Measures such as restriction and lockdown across the globe have been explicit and unprecedented. It has further disrupted supply chains, delayed projects, and created labor shortages.

Recreational Boating Marke: Growth Factors

The demand for recreational boats is increasing owing to the rising recreational, tourism, and promotional tourist sports activities. Various features provided by manufacturers such as new innovations in boats and increased boat sizes are responsible for the rising demand in the market. Moreover, the growth growing the tourism industry is also impacting the global recreational boating market in a positive way. In addition, an improved economy and growing population may also boost market growth in the coming future. Some of the major growth factors of the global recreational boating market are high-tech features, higher consumer confidence, and advanced technology.

Recreational Boating Market: Report Scope

Segment Analysis Preview  

On the basis of Power, the Recreational Boating market has been divided into Engine Powered, Man Powered, and Sail Propelled. Engine Powered held the major share in the market and is likely to remain dominant throughout the forecast period.

On the basis of Boat type, the market is segmented into Cabin cruisers, Jet boats, Pontoon boats, Propulsion systems, Personal watercraft, and Others. Cabin cruisers dominated the Recreational Boating industry in 2020, accounting for almost 35.2% of total Recreational Boating sales. 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.

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Recreational Boating Marke: Key Players & Competitive Landscape

The major players operating in the Recreational Boating market are  Caterpillar Incorporated, Azimut-Benetti, Ferretti, Carlisle Paddles, Avon Inflatables, Brunswick Corporation, Rodriguez, Bombardier Recreational Products Incorporated, Bavarian, Sealine Attwood, Brunswick Corporation, Zodiac Marine & Pool, Platinum Equity, Baja Marine, Suzuki Motor Corporation, Princess, Group Beneteau, Sunseeker, and Azimut-Benetti. Other key players in the market are Yamaha Motor Company Limited, Kawasaki Heavy Industries Limited, KCS International Incorporated, Honda Motor Company Limited, Poly Marquis Yach, Tognum AG, Hydra-Sports Boat, Godfrey Marine, Crusader Marine Engines, General Motors Company, Pleasurecraft Engine Group, Interphase Technologies, and Fountain Powerboat Industries Incorporated.

Recreational Boating Marke: Regional Analysis Preview  

North America is the leading regional segment of the recreational boating market across the globe. The US accounted for the largest market share in the region. Factors such as stable economic conditions and government financial assistance are anticipated to boost the global recreational boating market. In addition, Europe is the second largest region for the market owing to its rising tourism activities. The Asia Pacific is also one of the well-known markets for recreational boating. Increasing double income of the middle-class people encourages them to spend on premium recreational activities such as recreational boating, which in turn fosters the growth of the market

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Recreational Boating Market: Competitive Analysis

The global Recreational Boating market is dominated by players like:

• Caterpillar Incorporated
• Azimut-Benetti
• Ferretti
• Carlisle Paddles
• Avon Inflatables
• Brunswick Corporation
• Rodriguez
• Bombardier Recreational Products Incorporated
• Bavarian
• Sealine Attwood
• Brunswick Corporation
• Zodiac Marine & Pool
• Platinum Equity
• Baja Marine
• Suzuki Motor Corporation
• Princess
• Group Beneteau
• Sunseeker
• Azimut-Benetti

The global Recreational Boating Market is segmented as follows:

By Power

• Engine Powered
• Man Powered
• Sail Propelled

By Boat type  

• Cabin cruisers  
• Jet boats
• Pontoon boats
• Propulsion systems
• Personal watercraft
• Others

By Region  

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa