Global Recreational Boating Market Size By Type (Outboard Boats, Inboard Boats/Stern Type Boats, Personal Watercraft Boats), By Application (Water Sports, Fishing), By Geographic Scope And Forecast

Recreational Boating Market Size And Forecast

Recreational Boating Market size was valued at USD 30.5 Billion in 2021 and is projected to reach USD 45.2 Billion by 2030, growing at a CAGR of 4.2% from 2023 to 2030.

The rising popularity of leisure activities like as water skiing, fishing, vacation, and sports is driving the worldwide Recreational Boating Market. Manufacturers are working on building innovative boat layouts to attract clients, particularly those in the Gen-Z demographic. The Global Recreational Boating Market research offers a comprehensive analysis of the market. The research provides a thorough examination of major segments, trends, drivers, constraints, the competitive landscape, and factors that are significant in the market.

Global Recreational Boating Market Definition

The recreational craft boat is a recreational boat that is created for fun on the water’s surface. Many people utilise this for fun and enjoyment activities while on vacation with family and friends. Boat sailing, racing, fishing campaigns, and other water sports games are all part of recreational boating. Aluminum, coated textiles, runabouts, and plastic are common materials used in recreational boats. Towboats, pontoon boats, fishing boats, sailboats, cabin cruisers, sterndrive powerboats, jet boats, propulsion systems, and personal watercraft are all examples of leisure boats.

Recreational boating is one of the world’s most vibrant marine industries. A recreational boat is roughly the size of a motorboat, with the housing, plumbing, and other entertainment amenities required to live on board. Fishing, boat racing, water sports games, campaigning, and sailing are ideal leisure boat activities. Coated textiles, polymers, and aluminium are utilised to construct these ships.

Global Recreational Boating Market Overview

The global Recreational Boating Market is really taking off! It's fueled by everyone wanting to enjoy things like water skiing, fishing, vacations, and all kinds of sports. To grab attention, especially from Gen-Z, boat builders are dreaming up some seriously innovative boat designs. Plus, people are realizing how awesome it is to have tech built right into their boats, which should keep the market growing for years to come. Think things like AI, IoT, and smart sensors – manufacturers are slowly adding this stuff to give boaters GPS tracking, automated controls, and smart connect features. And hey, all this tech isn't just for fun; it also helps owners boost boat safety and security, making them even more eager to head out for some deep-sea adventures.

The COVID-19 has taken a toll on the tourist industry globally, imposing tight limitations on foreign travel. Several industrial factories shuttered and firms faced a labour shortage in the first two quarters of 2020, disrupting the whole supply chain. The COVID-19 also had an influence on exports and imports, resulting in a lack of boat-building equipment and sub-assemblies. As a result, new customers had to wait a long time since manufacturers were focused on assuring the product delivery of existing orders.

Along with boat sales, money earned via services suffered as tiny third-party vendors were forced to abandon their companies owing to the financial crisis caused by lockdown limitations. However, the slow re-opening of the economy, along with the lengthy limitations on people’s travel, has created a desire among individuals to engage in leisure activities. As a result, the market is expected to recover gradually throughout the projection period.

Global Recreational Boating MarketSegmentation Analysis

The Global Recreational Boating Market is segmented based on Type, Application, and Geography.

Recreational Boating Market, By Type

• Outboard Boats• Inboard Boats/Stern Type Boats• Personal Watercraft Boats• Sail Boats/Yachts• Inflatable Boats (Rigid Type)

So, when it comes to types of recreational boats, you've basically got a few categoriesoutboard boats, inboard (or stern-drive) boats, personal watercraft, sailboats/yachts, and even inflatable boats – the rigid kind. Outboard boats are really popular right now, and a lot of that comes down to them being cheaper to buy and easier to keep running. Think about itthey cost less upfront, are simple to maintain, lightweight, and give you more space inside, plus they're super versatile. All of that's driving the demand. In fact, the market for those seriously powerful 500-1,000 hp outboard engines is expected to explode by 2027, mostly because people are using these super-charged boats in racing. Check this outback in February 2020, Mercedes-AMG teamed up with Cigarette Racing to create a special edition outboard beast called the 59' Tirranna AMG Edition – we're talking 2,700 hp and top speeds of 80 mph!

Recreational Boating Market, By Application

• Water Sports• Fishing

When we look at how recreational boating is used, we can break it down into two main categorieswater sports and fishing. What's really driving this market? Well, more and more people are getting interested in spending time outdoors enjoying recreational activities. Plus, you've got people of all ages getting involved! Watersports, in particular, are becoming super popular. It's not just about the thrill or the adrenaline, but also about all the health benefits. So, basically, the fact that watersports are good for you is helping the global market grow. A study by North Carolina State University even showed that being outside and doing nature-based activities helped teenagers deal with some of the mental health challenges brought on by the COVID-19 pandemic. All that craziness with the coronavirus actually led to a surge in recreational boat sales in 2020, and we saw that reflected in the sales numbers in 2021, and we're expecting that trend to continue through 2022!

Recreational Boating Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

So, when we look at where recreational boating is popular, we can break it down by geographyNorth America, Europe, Asia Pacific, and, well, the rest of the world. North America and Europe are expected to be pretty big players in the recreational boating scene. You know, folks in these areas tend to have more money to spend and a higher standard of living, which should really help the market grow in the coming years. Europe is actually predicted to grow the fastest! It seems like everyone in the UK, France, Germany, Italy, and Spain is wanting to hit the water. Plus, with more and more people getting into boating for fun and all those boat shows and events that manufacturers are putting on, Europe's looking like a really hot market.

Key Players

The “Global Recreational Boating Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Mahindra & Mahindra Ltd, Baja Marine, Bayliner, Boston Whaler Boats, Chaparral Boats, Inc., Grady-White Boats, Malibu, MASTERCRAFT, White River Marine Group, Sea Ray, and American Sail Inc. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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