The recreational boats market is expected to grow at a CAGR of 7.8% from 2020 to 2027 to reach $54.9 billion by 2027.
Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, and opportunities. The growth of this market is mainly attributed to the booming tourism industry, growing economic development, growing participation in boating activities, innovation in boat engines, and increasing disposable income. These trends and the rising adoption of boating in Asian countries, including China, Japan, and Australia, offer manufacturers with new markets to capture over the forecast timespan. However, cyber-attacks & the intangible threat to the cruise industry, and high capital investment are expected to hinder the growth of this market to some extent.
The emergence of the COVID-19 pandemic across the globe and the imposition of lockdowns in European and Asian countries has impacted the recreational boats market. With the continuous increase in cases and suspension of boating activities, the industry is witnessing a disruption of production & value chain flows worldwide. The reduced demand for outboard boats is attributed to stringent lockdowns in Italy, Germany, and the U.K., which are the major boating markets in Europe. As a result, citizens are spending on health-related products and essential commodities, limiting leisure activities.
Outboard boats are gaining popularity in the region for recreational activities, such as cruising, fishing, skin diving, swimming, and water skiing. The versatility, improved performance & reliability, and ease of use is spurring the demand for outboard-powered boats. The increasing demand is due to the versatility offered by outboard-powered boats for optimal performance and minimizes the corrosion effects in saltwater by raising out when not in use, thereby increasing the engine life. Consumers in North America and Europe are emphasizing high-performance diesel outboard engines to meet the speed requirements.
Companies in the recreational boats market are focusing on designing boats up to 20 ft. with high power engines and advanced features. These trends allow manufacturers to meet the demand for small and low-cost boats from the consumer with low investment capability. The newly developed small boats offer more power in less space with consumer benefits and less spending.
An in-depth analysis of the geographical scenario of the recreational boats market provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. In 2020, North America is expected to command the largest share of the recreational boats market, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa.
The key players operating in the recreational boats market include Groupe Beneteau (France), Brunswick Corporation (U.S.), Marine Products Corporation (U.S.), Carnival Corporation & plc (U.S.), Royal Caribbean Cruises Ltd. (U.S.), Norwegian Cruise Line Holdings Ltd. (U.S.), MCBC Holdings, Inc. (U.S.), Malibu Boats, Inc. (U.S.), Grand Banks Yachts Ltd. (Singapore), Porter, Inc. (U.S.), Grady-White Boats, Inc. (U.S.), Maverick Boat Group, Inc. (U.S.), Correct Craft (U.S.), Baja Marine (U.S.), Pacific Asian Enterprises (U.S.), Albemarle Boats (U.S.), Yamaha Motors Co. Ltd. (Japan), and Sunseeker International Limited (U.K.).
Recreational Boats Market, by Propulsion
- Outboard Boats
- Inboard & Sterndrive Boats
- Up to 20 Ft.
- 21 Ft. to 35 Ft.
- 36 Ft. to 50 Ft.
- Up to 250 HP
- 250 HP to 500 HP
- Above 500 HP
- Travel & Tourism
- North America
- Rest of Europe
- Asia-Pacific (APAC)
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency and Limitations
1.3.1. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.1.1. Secondary Research
2.1.2. Primary Research
2.1.3. Market Size Estimation
3. Executive Summary
4. Market insights
4.2. Market Dynamics
188.8.131.52. Growing Tourism Sector
184.108.40.206. Rising Economic Development
220.127.116.11. Growing Participation in Water Sports and Boating Activities
18.104.22.168. Innovation in Boat Engines
22.214.171.124. Integration of IoT & Sensor-Based Technologies
126.96.36.199. Growing Concerns About Pollution
4.3. Covid-19 Impact Analysis
4.3.1. Scenario A: Severe Impact
4.3.2. Scenario B: Slow Recovery
4.3.3. Scenario C: Fast Recovery
4.4. Value Chain Analysis
4.5. Porter’s Five forces Analysis
4.5.1. Threat of New Entrants
4.5.2. Bargaining Power of Suppliers
4.5.3. Threat of Substitutes
4.5.4. Bargaining Power of Buyers
4.5.5. Competitive Rivalry
4.6. Regulatory Landscape
4.6.1. North America
4.6.2. Regional Policies
188.8.131.52. Polluted Runoff: Marinas and Boating
184.108.40.206. Fishing Policy
220.127.116.11. Water infrastructure
18.104.22.168. Fuel Policy
22.214.171.124. National Emission Standards for Hazardous Air Pollutants (NESHAP): Air Toxics Regulations
126.96.36.199.1. Boat Manufacturing
188.8.131.52.2. Shipbuilding & Ship Repair (Surface Coating)
184.108.40.206. Nonroad Engines, Equipment, and Vehicles
220.127.116.11.1. Diesel Boats and Ships
18.104.22.168. Tourism Policy for Coastal and Marine Tourism
22.214.171.124. Industrial Policy
126.96.36.199. Recreational Crafts
188.8.131.52. Indonesian Maritime Policy
184.108.40.206. Japanese Policies, Law, and Regulations in the Maritime industry
220.127.116.11.1. Policies of MLIT in Maritime Sector
18.104.22.168.2. Ship Safety Law
22.214.171.124.3. Regulations for the Enforcement of the Ship Safety Law
126.96.36.199. Australia Maritime Policy
188.8.131.52.1. Cruise Ship Operations Within the Great Barrier Reef, Australia
184.108.40.206.2. Policy on Moorings in the Great Barrier Reef
220.127.116.11.3. Policy on Managing Bareboat Operations in the Great Barrier Reef Marine Park
4.6.6. Rest of the World
18.104.22.168. Argentina Maritime Policy
22.214.171.124.1. Shipping Policy
126.96.36.199. South Africa Maritime Legislation
188.8.131.52. South Africa Shipping Regulation
5. Technology Landscape
5.1. Adoption of AI and Autonomous Sailing
5.2. IoT and intelligent Solutions integration
5.3. Adoption of 3D Printing, Robotics, and Virtual Reality
5.4. Electrification of Boats
6. Global Recreational Boats Market, by Propulsion
6.2. Outboard Boats
6.3. Inboard and Sterndrive Boats
7. Global Recreational Boats Market, by Boat Size
7.2. 21 Ft to 35 Ft Boats
7.3. Up to 20 Ft Boats
7.4. 36 Ft to 50 Ft Boats
8. Global Recreational Boats Market, by Engine
8.2. Diesel Engines
8.3. Electric Engines
9. Recreational Boats Raw Material Assessment
9.3.2. Stainless Steel
10. Global Recreational Boats Market, by Horsepower
10.2. Up to 250 Hp
10.3. 250 Hp to 500 Hp
10.4. Above 500 Hp
11. Global Recreational Boats Market, by Application
11.5. Travel and Tourism
11.6 Other Applications
12. Recreational Boats Market, by Region
12.2. North America
12.3.10. Rest of Europe (RoE)
12.4.5. Rest of Asia-Pacific (RoAPAC)
12.5. Latin America
12.5.4. Rest of Latin America (RoLATAM)
12.6. Middle East & Africa
12.6.1. South Africa
12.6.3. Saudi Arabia
12.6.4. Rest of Middle East & Africa (RoMEA)
13. Competitive Landscape
13.2. Key Growth Strategies
13.3. Market Share Analysis, by Key Player
14. Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
14.1. Brunswick Corporation
14.2. Groupe Beneteau
14.3. Mastercraft Boat Holdings, Inc.
14.4. Marine Products Corporation
14.5. Malibu Boats, Inc.
14.6. Azimut-Benetti Group
14.7. Ferretti S.P.A.
14.8. Porter, Inc.
14.9. Grady-White Boats, Inc.
14.10. Maverick Boat Group, Inc.
14.11. Correct Craft
14.12. Yamaha Motor Co., Ltd.
14.13. Polaris, Inc.
14.14. White River Marine Group (A Part of Bass Pro Group)
14.15. Monterey Boats
15.2. Available Customization
- Groupe Beneteau (France)
- Brunswick Corporation (U.S.)
- Marine Products Corporation (U.S.)
- Carnival Corporation & plc (U.S.)
- Royal Caribbean Cruises Ltd. (U.S.)
- Norwegian Cruise Line Holdings Ltd. (U.S.)
- MCBC Holdings Inc. (U.S.)
- Malibu Boats Inc. (U.S.)
- Grand Banks Yachts Ltd. (Singapore)
- Porter Inc. (U.S.)
- Grady-White Boats Inc. (U.S.)
- Maverick Boat Group Inc. (U.S.)
- Correct Craft (U.S.)
- Baja Marine (U.S.)
- Pacific Asian Enterprises (U.S.)
- Albemarle Boats (U.S.)
- Yamaha Motors Co. Ltd. (Japan)
- Sunseeker International Limited (U.K.).