Recreational Boating Market will Expand Exponentially by 2027

Recreational Boating Market will Expand Exponentially by 2027

Recreational boating market is anticipated to exceed 60 billion by 2027 while growing at a CAGR of 6.5% through 2027, from a recorded valuation of 35 billion in 2020. Moreover, the given market has been specifically divided on the basis of type1, product, application, regional, and competitive landscapes.

Meanwhile, the inflatables segment will account for an appreciable recreational boating market share by 2027. This can be credited to the increased adoption of inflatable boats for rescue operations and short-distance travel. The product demand will also be favored by the mounting risk of vessel catastrophes, refinery accidents, and natural calamities. In addition, the strong government focus on implementing preventive measures to control water accidents and drowning will also increase the consumption of inflatables in the nautical tourism sector.

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The COVID-19 outbreak has asserted a mild impact on the recreational boating market revenue, due to the strict social distancing norms and lockdown measures imposed during the initial months of the pandemic. The raw material shortage, supply chain management disruption, and reduced investment have also resulted in the low manufacturing of recreational boats.

However, the industry started to witness a steady recovery from the second half of 2020, owing to the significant upliftment of lockdown and the rising acceptance of water sports activities. The supportive monetary and fiscal policies offered to OEMs by the government bodies and the gradual rollout of vaccines from 2021 will create a positive impact on recreational boating facilities over the foreseeable future.

Global recreational boating market size is likely to grow commendably over the forthcoming years, as a result of the escalating adoption of recreational boats for surfing, fishing, and wakeboarding activities. Additionally, the proliferation of boat clubs, rapid urbanization, and high spending on leisure activities worldwide will further support the industry demand in the years ahead.

Ever-increasing nautical tourism activities have led to a significant surge in investment in rental boating. In order to enhance the boating experience and curb carbon footprint, manufacturers are also showing a high preference for hybrid and electric propulsion systems. These factors are projected to scale the deployment of recreational boating equipment over the forecast spell.

Latin America is set to emerge as a lucrative revenue prospect for the recreational boating market by 2027, considering the burgeoning popularity of water sports in the region. Consumers are also making heavy investments in leisure activities, due to the advancement of nautical tourism infrastructure across the region. The launch of electric and boats powered by smart technologies and engines, coupled with the presence of scenic coastlines in Mexico and Brazil, is encouraging higher participation from consumers in recreating boating, which will further augment regional market share in the years ahead.

Key players functioning in the global recreational boating market include Grady-White Boats, Porter Inc., Brunswick Corporation, Groupe Beneteau, Malibu Boats, Correct Craft, Yamaha Motor Corporation, and Maverick Boat Group, Inc., among others. These companies are employing various tactics, from innovative product launches to mergers and acquisitions, to expand their stance across the global market.

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Partial Chapter of the Table of Content

Chapter 5   Recreational Boating Market, By Product

5.1    Key trends by product

5.2    Inboard boat

5.2.1    Market estimates and forecast, 2017 - 2027

5.2.2    Market estimates and forecast, by horsepower,2017 - 2027

5.2.3    Below 200 hp

5.2.3.1    Market estimates and forecast, 2017 - 2027

5.2.4    201 to 500 hp

5.2.4.1    Market estimates and forecast, 2017 - 2027

5.2.5    501 to 1000 hp

5.2.5.1    Market estimates and forecast, 2017 - 2027

5.2.6    Above 1000 hp

5.2.6.1    Recreational Boating Market estimates and forecast, 2017 - 2027

5.3    Outboard boat

5.3.1    Market estimates and forecast, 2017 - 2027

5.3.2    Market estimates and forecast, by type,2017 - 2027

5.3.3    Center console

5.3.3.1    Market estimates and forecast, 2017 - 2027

5.3.4    Express cruiser

5.3.4.1    Market estimates and forecast, 2017 - 2027

5.3.5    Pontoon

5.3.5.1    Market estimates and forecast, 2017 - 2027

5.3.6    Runabout bowrider

5.3.6.1    Market estimates and forecast, 2017 - 2027

5.3.9    Below 200 hp

5.3.9.1    Recreational Boating Market estimates and forecast, 2017 - 2027

5.3.10    201 hp to 500 hp

5.3.10.1    Market estimates and forecast, 2017 - 2027

5.3.11    501 hp to 1000 hp

5.3.11.1    Market estimates and forecast, 2017 - 2027

5.3.12    Above 1000 hp

5.3.12.1    Market estimates and forecast, 2017 - 2027

5.4    Inflatables

5.4.1    Market estimates and forecast, 2017 - 2027

5.4.2    Market estimates and forecast, by horsepower,2017 - 2027

5.4.3    Below 200 hp

5.4.3.1    Market estimates and forecast, 2017 - 2027

5.4.4    201 hp to 500 hp

5.4.4.1    Market estimates and forecast, 2017 - 2027

Chapter 6   Recreational Boating Market, By Engine

6.1    Key trends by engine

6.2    Diesel

6.2.1    Market estimates and forecasts, 2017 - 2027

6.3    Gas

6.3.1    Market estimates and forecasts, 2017 - 2027

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