World Recreational Boating Industry Has Bright Future Opportunities01 Feb 2018 • by Natalie Aster
LONDON – Worldwide, the recreational boating industry has bright future with opportunities lying in the inboard and sterndrive boats, sailboards, and outboard. Worldwide, the recreational boating market is poised to gather speed at a CAGR of 3.8% from 2017 to 2022, to amount to USD 30 billion by 2022-end. The key factors propelling the sector’s growth are the hike in disposable income levels, decreased interest rates, and surging expenditure on recreation and leisure activities.
Amid the emerging trends having a direct influence on the dynamics of the recreational boating industry one can name the wider use of absorbed glass mat (AGM) batteries in powerboats owing to its exceptional battery service lives and long lifespan than Li-ion batteries and usage of synthetic material to produce deck to decrease wood consumption.
The inboard and sterndrive boat segment is poised to dominate the market based on value, with the sector also anticipated to demonstrate the fastest growth rate through to 2022.
North America will likely be the leading regional market in both value and volume terms. APAC is set to observe the fastest growth in the offing owing to the increasing tourism and water sports activities.
Brunswick, Bavaria Yachtbau, Azimut-Benetti, Beneteau Group, Ferretti, Sunseeker, and Princess, amid others, are the leading participants in the industry.
Topical research report “Recreational Boating Industry Report: Trends, Forecast and Competitive Analysis” developed by Lucintel offers an all-round assessment of the market on a worldwide scale. The report provides market categorisation based on boat type, region and nation, providing market size estimates (value and volume (units) shipments for 2011-2022) for each of the segments. It provides market trends and forecasts based on segments and region-wise. The publication sheds light on the growth opportunities in various applications and regions in the world recreational boating industry. The report provides a detailed strategic analysis of the market covering M&As, new product developments, and includes an examination of the competitive intensity of the industry which is based on Porter’s five forces model. Detailed company profiles of the prominent market players are also included in the study.
A full list of comprehensive research reports by Lucintel is available at the publisher’s online page at MarketPublishers.com.