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Recreational Boating Market Size

  • Report ID: GMI2076
  • Published Date: May 2023
  • Report Format: PDF

Recreational Boating Market Size

Recreational Boating Market size surpassed USD 30 billion in 2022 and is anticipated to grow at over 8% CAGR from 2023 to 2032 driven by a surge in water sports and recreational activities globally. 

 

Recreational Boating Market

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Growing interest in water sports and recreational activities among millennial and post-millennial generations has increased the product demand. As per the U.S. Bureau of Economic Analysis, in 2021, outdoor recreation economy made up 1.9% of the current dollar GDP for the country. Many governments across the world are investing considerable amounts to support the outdoor recreation industry, which is also likely to favor industry growth.

 

However, steep initial prices of recreational boats may limit product demand to a certain extent. High-quality yet innovative raw materials used for reducing vehicular weight and customizing exterior and interior features add to the overall cost of boats. Additionally, high labor, maintenance, storage, and other miscellaneous expenses in peak seasons also affect the prices of boats, posing challenges to recreational boating market expansion.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of recreational boating exceeded USD 30 billion and will grow at 8% CAGR during 2023 to 2032, driven by a surge in water sports activities and recreational boating globally.

Diesel-powered recreational boats industry will reach USD 45 billion by 2032, owing to their cost-effectiveness and high efficiency.

Asia Pacific sector is estimated to amass USD 3.5 billion by 2032, on account of the expanding tourism sector in the region.

Some of the prominent recreational boating sector are Malibu Boats, MasterCraft Boat Company, LLC, Marine Products Corporation, Yamaha Motor Corporation, American Sail Inc., and Groupe Beneteau, among others.

Recreational Boating Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 19
  • Tables & Figures: 669
  • Countries covered: 19
  • Pages: 200
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