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Recreational Boating Market - Global Outlook and Forecast 2021-2026

  • ID: 5360062
  • Report
  • July 2021
  • Region: Global
  • 361 pages
  • Arizton
UP TO OFF
until Aug 15th 2021

FEATURED COMPANIES

  • Albemarle Boats
  • Boston Whaler Boats
  • Duckworth Boats
  • Grady-White Boats
  • Hobie
  • MCBC Holdings
1h Free Analyst Time

Speak directly to the analyst to clarify any post sales queries you may have.

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Recreational Boating Market Report



The global recreational boating market by revenue is expected to grow at a CAGR of 11.02% during the period 2020-2026.

The leisure boat market is undergoing several transformations. The marine industry is witnessing an increasing appeal among end-users for advanced and innovative features such as joystick docking controls, automatic trim controls, and digital throttles and shifts. Consumers have less time developing driving skills with the hectic lifestyle and compiling practical experience on the water with the hectic lifestyle. Thus, their reliance on automatic controls is growing at an unprecedented rate. The increasing focus on artificial intelligence is the critical technology process that is likely to be implemented in the marine industry. Artificial intelligence can be used to grow corals that are more immune to high sea temperatures and improve salinity and other variables. In the shipping industry, artificial intelligence makes things easier by impeccably incorporating new shipping logistics and communication technology to develop the business model within the industry.

The following factors are likely to contribute to the growth of the recreational boating market during the forecast period:
  • Advancements in Marine Technology
  • Expected Growth in Consumer Confidence
  • High Opportunities in Electric Boat Industry
The study considers the global recreational boating market’s present scenario and its market dynamics for the period 2020-2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

GLOBAL RECREATIONAL BOATING MARKET SEGMENTATION

The global recreational boating market research report includes a detailed segmentation by Products, Power, Activities, Geography. The global outboard boat market expects to reach USD 22.92 billion by 2026. Outboard boats are one of the largest selling boats in the North American region. With technological improvements, the demand for high-performance outboard boats has grown considerably. Regulations have played a significant role in the increasing demand for outboard boats. The push toward single-fuel policies to promote safety in the industrial, military, and other end-user segments expects to be a strong global driver for high-powered diesel boats.

In terms of unit shipment, the global engine-powered boat market is likely to reach 882,365 units by 2026, growing at a CAGR of 10.98%. The growing demand for small and medium-sized vessels for fishing and recreational activities would support the market growth of outboard engines during the forecast period. Outboard motors allow boat manufacturers to offer customers ample interior space on boats along with enhanced engine power. The increasing family tour boat rental practices would boost the demand for these products during the forecast period. In terms of power, engine-powered boats have witnessed significant improvement in terms of horsepower and technology. Stringent emission standards imposed by several countries across the globe and the launch of 4-stroke engines will further support the segment's growth.

The global cruising market expects to reach USD 54.41 billion by 2026, growing at a CAGR of 11.05%. Developing economies such as APAC have emerged as critical regions witnessing a significant increase in the passenger base. For instance, Mainland China dominates the Asian market, accounting for close to 56% of the Asian passenger volume in 2019. Most source markets in Asia observed YOY gains in 2019, except for Mainland China and Malaysia. Passenger volumes from Singapore, India, Indonesia, the Philippines, South Korea, Thailand, and Vietnam saw double-digit growth. Further, the expansion of cruise ship capacities is likely to influence the growth of the market. With the rise in cruising activities, the recreational boating market expects to receive more orders for large boats during the forecast period.

Product
  • Outboards
  • Inboards/Sterndrives
  • Personal Watercrafts
  • Yachts
  • Others
Power
  • Engine Powered
  • Man-Powered
  • Sail-propelled
Activities
  • Cruising
  • Watersports
  • Fishing
INSIGHTS BY GEOGRAPHY
  • The new powerboat unit sale increased by 12% 2020 as compared to 2019. Most of the revenue earned by the US recreational boating market is through product exports. However, in 2015, it became a net importer due to the strengthening of the US dollar.
  • With the growing consumer confidence over the last few years, boat manufacturers are introducing new products and experiences to attract young boaters. Recent boat sales and recreational boating expenditure grew for the eighth consecutive year in 2019. In 2020, the boat sales reached a 13-year high, and this trend expects to continue during 2021.
Geography
  • North America
  • US
  • Canada
  • Europe
  • Germany
  • France
  • Italy
  • Spain
  • Belgium
  • Netherlands
  • APAC
  • China
  • India
  • Japan
  • South Korea
  • Latin America
  • Mexico
  • Brazil
  • Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
INSIGHTS BY VENDORS

The global recreational boat market is fragmented due to the presence of local and global players. The market concentration in developed countries such as the US and other Western European countries is high. The market is in a growth stage in developing economies such as China because of the entry of many international brands in these countries. The competition among vendors is based on product offerings and pricing. Vendors are using new business models and focusing on developing the portfolio of their established products to drive growth. The focus in yachts is heavily shifting towards luxury products, which is likely to provide vast opportunities to the vendors during the forecast period.

Prominent Vendors
  • Azimut-Benetti Group
  • Bombardier Recreational Products (BRP)
  • Brunswick Corporation
  • Ferretti
  • Groupe Beneteau
Other Prominent Vendors
  • Albemarle Boats
  • Baja Marine
  • Bavaria Yachts
  • Bertram Yachts
  • Boston Whaler Boats
  • Catalina Yachts
  • Correct Craft
  • Custom Weld Boats
  • Duckworth Boats
  • Explorer Industries
  • Fountain Powerboats
  • Godfrey
  • Grady-White Boats
  • Grand Banks Yachts
  • HanseYachts
  • High Caliber
  • Hobie
  • Lund
  • Malibu
  • Marine Products Corporation
  • Marlow Hunter
  • Maverick Boat Group
  • MCBC Holdings
  • Pacific Asian Enterprises
  • Porter
  • Princess Yachts
  • Sunseeker International
  • Thunder Jet
  • Viking Yacht
  • White River Marine Group
  • Yamaha
  • Zodiac Marine & Pool
KEY QUESTIONS ANSWERED:

1. How big is the recreational boating market?
2. What is the engine-powered boat market growth?
3. Who are the key companies in the recreational boating market?
4. What are the growth forecasts for the European recreational boating market?
5. What are the factors driving the recreational boat market?
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Albemarle Boats
  • Boston Whaler Boats
  • Duckworth Boats
  • Grady-White Boats
  • Hobie
  • MCBC Holdings
1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the Study
4.4 Market Segments

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance

7 Introduction
7.1 Overview
7.2 Recreational Boat Overview
7.3 Technological Advancements in Recreational Boating
7.4 Dawn of Electric & Hybrid Engines
7.5 Luxury Market
7.6 Impact Of COVID-19

8 Market Opportunities & Trends
8.1 Advancements in Marine Technology
8.2 Expected Growth in Consumer Confidence
8.3 Growing Opportunities in Electric Boat Industry

9 Market Growth Enablers
9.1 Rising Demand for Outboard Power Boats
9.2 Increasing Participation in Leisure Boating Activities in Europe
9.3 Rising Expenditure on Luxury Products & Services

10 Market Growth Restraints
10.1 Environmental Pollution Caused by Boating
10.2 Concept of Rental & Used Boat Services
10.3 Failure to Attract Millennials

11 Value Chain Analysis
11.1 Value Chain Overview

12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.3 Key Factors Impacting Recreational Boat Market
12.4 Superyacht Order Book
12.5 Five Forces Analysis

13 Boat Type
13.1 Market Snapshot & Growth Engine (Revenue)
13.2 Market Snapshot & Growth Engine (Units)
13.3 Market Overview
13.4 Outboard Boats
13.5 Inboard/Sterndrive Boat
13.6 Personal Watercraft Boat
13.7 Yachts
13.8 Other Boats

14 Power
14.1 Market Snapshot & Growth Engine (Revenue)
14.2 Market Snapshot & Growth Engine (Units)
14.3 Market Overview
14.4 Engine-Powered Boats
14.5 Sail-Propelled Boats
14.6 Man-Powered Boats

15 Activity
15.1 Market Snapshot & Growth Engine (Revenue)
15.2 Market Snapshot & Growth Engine (Units)
15.3 Market Overview
15.4 Cruising
15.5 Watersports
15.6 Fishing

16 Geography
16.1 Market Snapshot & Growth Engine (Revenue)
16.2 Market Snapshot & Growth Engine (Units)
16.3 Geographic Overview

17 North America
17.1 Market Overview
17.2 Pest Analysis
17.3 Market Size & Forecast
17.4 Type
17.5 Power
17.6 Activity
17.7 Key Countries (Revenue)
17.8 Key Countries (Units)

18 Europe
18.1 Market Overview
18.2 Pest Analysis
18.3 Market Size & Forecast
18.4 Type
18.5 Power
18.6 Activity
18.7 Key Countries (Revenue)
18.8 Key Countries (Units)

19 APAC
19.1 Market Overview
19.2 Pest Analysis
19.3 Market Size & Forecast
19.4 Type
19.5 Power
19.6 Activity
19.7 Key Countries (Revenue)
19.8 Key Countries (Units)

20 Middle East & Africa
20.1 Market Overview
20.2 Pest Analysis
20.3 Market Size & Forecast
20.4 Type
20.5 Power
20.6 Activity
20.7 Key Countries (Revenue)
20.8 Key Countries (Units)

21 Latin America
21.1 Market Overview
21.2 Pest Analysis
21.3 Market Size & Forecast
21.4 Type
21.5 Power
21.6 Activity
21.7 Key Countries (Revenue)
21.8 Key Countries (Units)

22 Competitive Landscape
22.1 Competition Overview
22.2 Market Share Analysis

23 Key Company Profiles
23.1 Azimut-Benetti Group
23.2 Bombardier Recreational Products
23.3 Brunswick Corporation
23.4 Ferretti
23.5 Groupe Beneteau

24 Other Prominent Vendors
24.1 Albemarle Boats
24.2 Baja Marine
24.3 Bavaria Yachts
24.4 Bertram Yachts
24.5 Boston Whaler Boats
24.6 Catalina Yachts
24.7 Correct Craft
24.8 Custom Weld Boats
24.9 Duckworth Boats
24.10 Explorer Industries
24.11 Fountain Powerboats
24.12 Godfrey
24.13 Grady-White Boats
24.14 Grand Banks Yachts
24.15 HanseYachts
24.16 High Caliber
24.17 Hobie
24.18 Lund
24.19 Malibu
24.20 Marine Products Corporation
24.21 Marlow Hunter
24.22 Maverick Boat Group
24.23 MCBC Holdings
24.24 Pacific Asian Enterprises
24.25 Porter
24.26 Princess Yachts
24.27 Sunseeker
24.28 Thunder Jet
24.29 Viking Yacht
24.30 White River Marine Group
24.31 Yamaha
24.32 Zodiac Marine & Pool

25 Report Summary
25.1 Key Takeaways
25.2 Strategic Recommendations

26 Quantitative Summary
26.1 Market by Geography
26.2 North America
26.3 Europe
26.4 APAC
26.5 Middle East & Africa
26.6 Latin America
26.7 Type
26.8 Power
26.9 Activity

27 Appendix
27.1 Abbreviations
Note: Product cover images may vary from those shown
  • Azimut-Benetti Group
  • Bombardier Recreational Products (BRP)
  • Brunswick Corporation
  • Ferretti
  • Groupe Beneteau
  • Albemarle Boats
  • Baja Marine
  • Bavaria Yachts
  • Bertram Yachts
  • Boston Whaler Boats
  • Catalina Yachts
  • Correct Craft
  • Custom Weld Boats
  • Duckworth Boats
  • Explorer Industries
  • Fountain Powerboats
  • Godfrey
  • Grady-White Boats
  • Grand Banks Yachts
  • HanseYachts
  • High Caliber
  • Hobie
  • Lund
  • Malibu
  • Marine Products Corporation
  • Marlow Hunter
  • Maverick Boat Group
  • MCBC Holdings
  • Pacific Asian Enterprises
  • Porter
  • Princess Yachts
  • Sunseeker International
  • Thunder Jet
  • Viking Yacht
  • White River Marine Group
  • Yamaha
  • Zodiac Marine & Pool
Note: Product cover images may vary from those shown

Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.



 

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