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Europe recreational boating market is likely to register significant growth. over the study timeframe. Manufacturers are focusing on rising boat production particularly in the country including Italy will significantly contribute business growth. Companies in the region are focusing on increasing international trade by exporting products in developing countries to improve product visibility and achieve superior profit margins.North America, driven by U.S. recreational boating industry will account for highest volume share of over 50% by 2024. Well established marine industry along with rising number of boating participants in countries such as U.S. and Canada will primarily support the regional dominance. Moreover, presence of established industry participants across the region will further contribute towards the high revenue generation.
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As far as global revenue is concerned, the recreational boating market is anticipated to exceed USD 230 billion over the forecast timeframe. Remarkable increase in global urban population and acceleration in personal consumption expenditure has resulted in huge spending in niche tourism such as leisure, recreational and sports boating. Upsurge in activities including boat racing, sailing, and campaigning activities are continuously encouraging product demand. Manufacturing companies are focusing on improving recreational boat production further improving the business growth over the forecast time frame.
Few noticeable participants of recreational boating market include Azimut-Benetti, Hunter, Malibu Boats, Ferretti, Brunswick, Sunseeker, MacGregor, American Sail Inc. Other key companies are Catalina Yachts, Bavaria Yachtbau, Hobie Cat Corporation and Princess Cruise are significantly contributing the market share. These companies are focusing on installing and improving navigational and surveillance technologies in these products to achieve secure & safe individual marine experience during the forecast period.
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Outboard boats are anticipated to showcase dominance in the recreational boating market, accounting for more than USD 135 billion over the next eight years. Outboard engines are mounted on an easily accessible position, that results in relatively more space than the counterparts. Moreover, advantages such as high reliability along with easy service abilities & maintenance will support the industry dominance. Inboard boats will witness approximately 4.5% CAGR owing to their high usage in fishing and other light weighted boats.
In 2016, engine powered segment generated revenue over USD 145 billion. Increasing usage in inboard and outboards boats in developed countries including the U.S., Japan, and Russia generating product demand during forecast time frame.
Browse key industry insights spread across 250 pages with 350 market data tables & 10 figures & charts from the report, “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” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/recreational-boating-market
Table of Contents (ToC) of the report:
Chapter 5. Recreational Boating Market, By Power
5.1. Global market share by power, 2016 & 2024
5.2. Engine powered
5.2.1. Global market estimates and forecasts, 2013 – 2024
5.2.2. Market estimates and forecast, by region, 2013 – 2024
5.3. Man powered
5.3.1. Global market estimates and forecasts, 2013 – 2024
5.3.2. Market estimates and forecast, by region, 2013 – 2024
5.4. Sail propelled
5.4.1. Global market estimates and forecasts, 2013 – 2024
5.4.2. Market estimates and forecast, by region, 2013 – 2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/recreational-boating-market
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