The marinas market size is expected to see strong growth in the next few years. It will grow to $24.22 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The anticipated growth in the forecast period can be attributed to the adoption of sustainable and eco-friendly practices, the popularity of boating lifestyle and experiences, the rise of coastal and marine tourism, compliance with regulatory and environmental standards, and investments in waterfront properties. Noteworthy trends expected in the forecast period encompass a focus on safety and security measures, heightened attention to environmental compliance, infrastructure upgrades, the development of destination marinas, and a greater emphasis on community engagement and events.
The anticipated growth of the marinas market is driven by the expanding boating industry. The boating industry encompasses a diverse range of watercraft designed for travel, work, or leisure on water, particularly in rivers, lakes, and coastal areas. Marinas, offering comprehensive services such as maintenance, parts replacement, cleaning, fueling, and a secure environment for boats and yachts, are integral to this industry. Notably, in January 2023, the National Marine Manufacturers Association (NMMA) reported a surge in new powerboat unit sales in the USA, reaching an estimated 250,000 units in 2022. The robust demand is expected to continue in 2023, with new retail unit sales projected to remain consistent with 2022 levels. Thus, the upward trajectory of the boating industry is propelling the growth of the marinas market.
The marina market is also expected to experience growth due to the increasing urbanization trend. Urbanization involves population migration from rural to urban areas, leading to urban expansion and economic development. This shift promotes a higher standard of living and stimulates demand for recreational activities such as boating and yachting, favoring the expansion of the marina market. According to the World Bank's 2022 report, over 50% of the global population resides in urban areas, and this figure is projected to reach 6 billion by 2045. The report anticipates a 1.5-fold increase in urban land consumption by 2030. Hence, the growing urbanization trend is a driving force behind the marina market's growth.
Environmental sustainability is emerging as a significant trend in the marinas market, with companies adopting eco-friendly practices to enhance their market standing. Marinas are incorporating clean energy sources such as solar and wind turbines to improve efficiency and meet energy needs sustainably. For instance, MDL Marinas Ltd, a UK-based marinas development and operations company, installed solar edge panels at Cobb’s Quay Marina. The energy generated locally, with excess energy fed back into the grid, contributes to environmental conservation. This follows previous installations at Hamble Point and Ocean Village marinas, collectively providing 150,000 kWh of energy from April 2020 to February 2021, equivalent to planting 1,500 trees annually.
Leading companies in the marina market are opting for a strategic partnership approach to drive expansion in the marina business. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits and success. An illustration of this approach is evident in the partnership formed in September 2023 between Azimut Benetti, an Italy-based yacht manufacturing company, and D-Marin, a Turkey-based marina management company. This collaboration aims to enhance D-Marin’s presence and influence in the Mediterranean, specifically focusing on expanding its marina business and advancing nautical tourism. Through this strategic alliance, D-Marin strengthens its portfolio of 20 marinas by acquiring a substantial stake in Marina di Valletta in Malta and Porto Mediceo in Livorno, adding three new marinas with 1,800 berths and solidifying its position in the Mediterranean region.
In August 2022, MarineMax Inc., a US-based boat dealers company, completed the acquisition of IGY Marinas for a deal valued at $480 million. This acquisition represents a noteworthy transformation for MarineMax, allowing IGY Marinas to retain its distinct branding. The strategic decision enhances MarineMax's ability to deliver unparalleled customer experiences to yacht owners globally. The incorporation of IGY Marinas positions MarineMax as a leading force in the superyacht industry, uniquely equipped to provide an integrated experience. IGY Marinas, a US-based marina owner and operator company, plays a key role in this strategic development.
Major companies operating in the marinas market report are Fassmer GmbH & Co. KG, FB Design Srl, LOMOcean Marine Ltd., Sunbird International Yacht Ltd., W Marine Inc., Bellingham Marine, Marinetek India Pvt. Ltd., Meeco Sullivan The Marina Company, SF Marina Systems AB, Ingemar Srl, Poralu Marine Inc., Walcon Marine Ltd., Cubisystem, EZ-Dock Inc., Martini Alfredo S.p.A., IGY Marinas, Safe Harbor Marinas, Suntex Marinas, Westrec Marinas Management Inc., Oasis Marinas LLC, F Marina, Coastal Marina Management LLC, Trident Marina Group LLC, Brewer Yacht Yard Group Inc., Camper & Nicholsons Marinas, Island Global Yachting LLC, Marina Management Services Pvt. Ltd., Marinas International Inc., MarineMax Inc., Morningstar Marinas LLC.
North America was the largest region in the marinas market in 2023. The regions covered in the marinas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the marinas market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary categories of marinas include private, public, and commercial. Private marinas are accessible exclusively to adjacent and/or neighboring property owners for their private use. The port types associated with marinas include seaports and inland ports, serving various purposes such as pleasure marinas, fishing marinas, commercial marinas, and military marina applications.
The marinas market research report is one of a series of new reports that provides marinas market statistics, including marinas industry global market size, regional shares, competitors with marinas market share, detailed marinas market segments, market trends, and opportunities, and any further data you may need to thrive in the marinas industry. This marinas market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
Executive Summary
Marinas Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on marinas market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for marinas? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This marinas market global report answers all of these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Scope
Markets Covered:1) By Type: Private; Public; Commercial
2) By Port Type: Seaport; Inland Port
3) By Application: Pleasure Marinas; Fishing Marinas; Commercial Marinas; Military Marinas
Companies Mentioned: Fassmer GmbH & Co. KG; FB Design Srl; LOMOcean Marine Ltd.; Sunbird International Yacht Ltd.; W Marine Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Fassmer GmbH & Co. KG
- FB Design Srl
- LOMOcean Marine Ltd.
- Sunbird International Yacht Ltd.
- W Marine Inc.
- Bellingham Marine
- Marinetek India Pvt. Ltd.
- Meeco Sullivan The Marina Company
- SF Marina Systems AB
- Ingemar Srl
- Poralu Marine Inc.
- Walcon Marine Ltd.
- Cubisystem
- EZ-Dock Inc.
- Martini Alfredo S.p.A.
- IGY Marinas
- Safe Harbor Marinas
- Suntex Marinas
- Westrec Marinas Management Inc.
- Oasis Marinas LLC
- F Marina
- Coastal Marina Management LLC
- Trident Marina Group LLC
- Brewer Yacht Yard Group Inc.
- Camper & Nicholsons Marinas
- Island Global Yachting LLC
- Marina Management Services Pvt. Ltd.
- Marinas International Inc.
- MarineMax Inc.
- Morningstar Marinas LLC
Methodology
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