Recreational Boating Market Size By Product (Inboard Boats, Outboard Boats, Inflatable, Sail Boats), By Power (Engine-Powered, Man-Powered, Sail Propelled), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Netherlands, Poland, China, Japan, India, South Korea, Australia, Brazil, Mexico, Argentina, Egypt, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

Published Date: Mar 2018  |  Report ID: GMI2076  |  Authors: Ankita Bhutani

Report Format: PDF   |   Pages: 250   |   Base Year: 2016




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Recreational Boating Market size valued at USD 146 billion in 2016 and is estimated to exhibit over 5.9% CAGR from 2017 to 2024.
 

Canada Recreational Boating Market, By Product, 2016 & 2024, (USD Million)

Canada Recreational Boating Market, By Product, 2016 & 2024, (USD Million)
Get more details on this report - Request Free Sample PDF
 

Healthy economic conditions in conjunction with proliferating consumer spending on recreation and leisure activities are providing potential opportunities for adopting recreational boats. According to the World Travel and Tourism Council, in 2018, leisure tourism spending in Brazil rose to 95.3 billion with an increase of 2.4% as compared with 2017. Increasing population coupled with proliferating tourism industry are significantly propelling the recreational boating market share over the study timeframe.
 

Increasing demand for customized boats equipped with new generation propulsion systems will augment the market share over the forecast timeframe. Growing prominence for utilizing eco-friendly and electric motors in new generation boats offering reduced noise and emission levels are impacting the industry growth over the study timeframe. Renewable energy propulsion systems delivering enhanced speed and lower emissions are gaining higher visibility.
 

Government initiatives targeted towards the development of boating infrastructure and safe utilization of leisure boats are playing a vital role in the industry expansion. For instance, in February 2018, the U.S. Secretary of the Interior granted USD 14 million in Boating Infrastructure Grants (BIG) to improve the facilities for large transient boats and support recreational boating activities. Further, supportive programs and initiatives for promoting marine recreational fishing activities are significantly impacting the recreational boating market size.
 

Growing popularity of tourist destinations and leisure activities such as kayaking, canoeing and fishing are providing a positive outlook for the industry expansion. Increasing youth participation in marine recreational activities is escalating the adoption of personal watercrafts. Rising sales of advanced recreational boats offering enhanced manoeuvrability coupled with lower maintenance is significantly contributing towards the market growth. According to the National Marine Manufacturers Association (NMMA), powerboats sales in 2018 rose to 2,80,000 units with an increase of over 4% as compared with 2017.
 

Increasing fatalities may restrict the market demand over the study timeframe. According to the U.S. Coast Guard, in 2016, boating fatalities increased to 701 accounting for an increase of over 12% as compared to 2015. Government authorities are continuously striving for the enforcement of regulations and norms for reducing the fatality rate. Specific requirements for construction, development, and operating boats are specified for promoting safer boating activities. Safety campaigns and programs arranged for increasing the maritime safety awareness are further supporting the industry share.
 

Recreational Boating Market Report Coverage
Report Coverage Details
Base Year: 2016
Historical Data for: 2013 to 2016 Forecast Period: 2017 to 2024
Pages: 250 Tables, Charts & Figures: 360
Geographies covered (18): U.S., Canada, Germany, UK, France, Italy, Netherlands, Poland, China, Japan, India, South Korea, Australia, Brazil, Mexico, Argentina, Egypt, South Africa
Segments covered: Product, Power and Region
Companies covered (17): Brunswick, Beneteau Group, Ferretti, Azimut-Benetti, Sunseeker, Bavaria Yachtbau, Princess, American Sail Inc, Catalina Yachts, MacGregor, Hobie Cat Corporation, Hunter, Mahindra & Mahindra Ltd., Engine manufacturers, Volvo Penta, Mercury, Yamaha, Honda

Request 15% Free Customization on this Report
 

By Product

Outboard boats will showcase significant growth prospects owing to their low speed manoeuvring and easy docking facilities. Multiple benefits including easy maintenance, replacement, lightweight structure, and higher power to weight ratio will propel the sales of outboard boats over the projected timeframe. Availability of cost-effective personal watercrafts with extra cockpit space enable better storage facilities.
 

Inflatable boats will witness substantial growth owing to their increasing applications for sea rescue operations, diving boats, open sea fishing and river rafting. Tubular structure of inflatable boats provides enhanced stability and buoyancy owing to their low center of gravity. Moreover, the introduction of advanced inflatable boats featuring ultra-light PVC offer greater floating surface for fishing and other recreation activities.
 

By Power

China Recreational Boating Market, By Power, 2016, (Units)

China Recreational Boating Market, By Power, 2016, (Units)
Get more details on this report - Request Free Sample PDF
 

Engine powered recreational boating market share will witness a significant growth owing to their increasing utilization in high performance powerboats. Diesel engines provide higher efficiency and torque along with enhanced acceleration and lower fuel consumption. Enhanced flexibility of operations along with extended operational periods are prominently inducing the demand for engine powered boats over the projected timeframe. Additionally, development of hybrid engines offering increased power and fuel efficiency will significantly augment the segment size.
 

Growing concerns for reducing the environmental impact and emission levels are positively influencing the sail propelled the market size. Sailing yachts offering enhanced motion comfort and agility are gaining a higher visibility in the market. Moreover, growing participation in sailing competitions and championships across the globe will significantly impact the product adoption. For instance, in July 2018, 85 boat fleet participated in a distance race in the Hague Offshore Sailing World Championship.
 

By Region

Europe Recreational Boating Industry Size, By Country, 2024, (USD Million)

Europe Recreational Boating Industry Size, By Country, 2024, (USD Million)
Get more details on this report - Request Free Sample PDF
 

North America will witness substantial growth in the market over the projected timeframe. Government organisations and regional authorities are continuously focusing to develop tourist destinations and boating infrastructure, further propelling the industry size. For instance, in April 2019, the U.S. Fish & Wildlife Service Boating Infrastructure Grant (BIG) allocated around USD 21 million for developing boat tie-up facilities and associated amenities.
 

Europe will account for a significant revenue share in the recreational boating market owing to the increasing participation in recreational activities. Growing personal consumer expenditures along with development of boating facilities will significantly impact the regional growth. According to ICES Working Group on Recreational Fisheries Surveys (WGRFS), in 2015, 6.3 million people participated and spent around USD 5.47 billion in fishing activities. Moreover, development of advanced propulsion systems along with increasing sales of leisure boats will further escalate the industry size.
 

Competitive Market Share

Major industry participants in the Recreational boating industry include American Sail Inc., Ferretti, Sunseeker, Beneteau, Brunswick, MacGregor, Azimut-Benetti, Hunter, Hobie Cat Corporation, Princess Cruise, Bavaria Yachtbau and Catalina Yachts. Industry players are engaged in strategic acquisitions and partnerships for increasing their revenue generation opportunities. For instance, in June 2018, Winnebago Industries, Inc. acquired Chris-Craft to expand their product range with new recreational boats and dealership network. Manufacturers are focusing on expanding their product portfolio to gain competitive edge in the industry. For instance, in September 2018, Beneteau Group introduced a new catamaran ‘Leasyboat’ service for first time buyers
 

Industry Background

Regional regulatory bodies are formulating new laws and regulations for ensuring the safe operations of leisure boats. Integration of lightweight materials will positively contribute towards increasing the fuel efficiency of recreational boats. Recent advancements in propulsion technologies along with the development of eco-friendly marine vessels will significantly drive the industry share over the projected timeframe.


Buy Now

Single User: $5,150 Access to only 1 person; cannot be shared; cannot be printed
Multi User: $7,150 Access for 2 to 5 users only within same department of one company
Enterprise User: $9,150 Access to a company wide audience; includes subsidiary companies or other companies within a group of companies

Need a Discount? Get in touch with us for special pricing

Inquire Before Buying

Connect with our sales team

Why Global Market Insights, Inc.?

Reliability & accuracy

  • GMI is unparalleled when to comes to the quality of research and information provided to clients. Our unique methodology is designed to ensure a minimum of 90% accuracy to give our clients excellent value on their investment.

Quality & trust


  • BBB Rating - Click to Verify

Customer service

  • Over 200 experts are available across various time-zones, ready to serve clients for their research needs. Our industry experts help clients to design reports customized to their needs.

Security & compliance

Chat With Us
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info. I Agree