Boating Industry Market, By Product Type (Inboard Boats, Outboard Boats, Sail Boats, Inflatable, and Personal Watercrafts), By Power ( Man Powered, Engine Powered and Sail Propelled), By Activity Type (Watersports & Cruising and Fishing), By Size (Less Than 30 Ft, 60 to 79 Ft, 30 to 59 Ft, 80 to 99 Ft, More Than 100 Ft, Full Custom), By Region – Global Analysis Forecast Till 2030

The Global Boating Industry Market size was estimated at USD 29.6 billion in 2021 and is expected to hit around USD 35.4 billion at a CAGR of 5.87% during the forecast period from 2022 to 2030.

Recreational boating is the leisurely activity of sailing a boat on the water. Many people use this for enjoyable activities while out with family and friends. Recreational boating encompasses a variety of pursuits, including kayaking, sports fishing, sailing, campaigning, and boat racing.  Jet boats, personal watercraft, towboats, fishing boats, sailboats, runabouts, sterndrive powerboats, pontoon boats, propulsion systems, and cabin cruisers are just a few examples of the several types of recreational boats used for boating. Plastic, aluminium, and coated textiles comprise most of this boat's construction materials. All types of boats, whether powered by an engine, a sail, or a person, are welcome during recreational boating activities.

Market Dynamics

Drivers:

The recreational boating industry market is expected to increase due to factors like rising water-based tourism and growing interest in recreational water sport activities. Additional factors that are anticipated to provide profitable prospects for market expansion throughout the forecast period include technological advancements in boats and boat engines and an increase in the population of high-net-worth individuals.

Restraints:

However, it is anticipated that the high initial and ongoing costs of recreational boats and the environmental issues related to boating would restrain market expansion

Opportunity:

A growing number of boating events and trade exhibits are being held across the world, which is helping recreational boating activities become more and more popular among tourists. The growing marine and coastal tourism have notably lured numerous nations in Europe and North America. Aside from that, the rising per capita income of the populace in Asia Pacific nations like China and Australia has created fresh market growth potential. A further factor driving the expansion of the regional market is the increased demand for recreational boating in nations like Australia, China, and Japan.

Key players:

• Avon Marine

• Azimut Benetti Group

• Baja Marine

• Bavaria Yachtbau GmbH

• Bombardier Recreational Products (BRP) Inc.

• Brunswick Corporation

• Chaparral Boats, Inc.

• Farr Yacht Design, Ltd.

• Ferretti S.P.A.

• Fountain Powerboats, Inc. 

Market Segmentation:

Boating Industry Market, By Power

• Engine Powered

• Man Powered

• Sail Propelled

Boating Industry Market, By Product Type

• Inboard Boats

• Outboard Boats

• Inflatable

• Sail Boats

• Personal Watercrafts

Boating Industry Market, By Activity Type

• Watersports & Cruising

• Fishing

Boating Industry 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

Boating Industry Market, By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa (MEA)

Regional Analysis:

More than XX% of global revenue in 2022 came from North America, which dominated the market in terms of revenue. The region is seeing a rise in boat sales as a result of the economy's recovery following the recession and the availability of affordable loans in the market. Additionally, the local market is being driven by the U.S., where recreational watercraft demand is expanding. In the United States, boating and cruising are becoming increasingly popular pastimes. During the projected period, the largest CAGR growth is anticipated for the European market. The U.K., France, Germany, Italy, and Spain are among the nations with the highest recreational boat demand, and it is predicted that this demand will continue to rise, fueling regional market expansion.

As a result of the significant actions made by the governments of various nations in the region to promote the expansion of tourism activities, Asia Pacific is predicted to have significant growth throughout the projected period.

Scope of the Report:

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