Recreational Boat Market by Boat Type, Engine, Business Type, Power Source, and Region
Recreational boat market by type of boat (sailboats, personal watercraft, inflatables), size (50 feet), motor location (outboard, inboard), motor (ICE, electric), material (aluminum, fiberglass), type of activity, source of food and region
According to the new market research report “Pleasure boat market by type of boat (sailboats, watercraft, tires), size (50 feet), engine location (outboard, inboard), engine (ICE, electric), material (aluminum, fiberglass), type of activity, power source and region – Global forecast for 2027 â³, Posted by MarketsandMarkets â¢, the size of the global recreational craft market is expected to grow from $ 16.4 billion in 2021 to $ 23.6 billion by 2027, at a CAGR of 6.2%.
The growth of the market is influenced by factors such as the increase in the disposable income levels of the people and the growth of the tourism market. Developments in autonomous marine technology as well as other related technologies including new materials developed for boats, IOT-based navigation, etc. will also drive the market.
Browse the table of contents in depth at “Pleasure boat market”
304 – Tables
63 – Figures
286 – Pages
Download the PDF brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=227150980
North America is expected to be the largest market during the forecast period
The North American pleasure craft market is expected to be the largest and most dynamic in the world due to the high demand for pleasure craft and water sports in the region. The United States is expected to be a fast growing market in the region, with the government helping to develop the pleasure craft market over the years. However, emissions regulations could limit the rate of market growth in these two countries by reducing the demand for recreational boating in the years to come. Canada also has a high demand due to the fact that boating is a traditional pastime in the region. Mexico is also a rapidly growing market, with recreational boating gradually finding its place in the country.
The yacht segment is estimated to represent the largest market during the forecast period
The yacht segment is currently the largest segment in terms of value in the pleasure craft market worldwide. It will continue to be the largest segment during the forecast period due to strong demand in the United States and Europe. This is due to the growing demand for boating and cruising along with the increasing levels of disposable income of people around the world. In 2020, 341 superyachts were sold worldwide according to data provided by Boat International. Superyacht Hasna, the most expensive yacht sold in 2020, sold for $ 92.5 million. Although the number of yachts sold is increasing at a moderate rate, due to the increasing luxury features year by year, their prices have increased.
Request a FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=227150980
Outboard motors are estimated to represent the largest market size during the forecast period
The outboard boat segment is currently the largest segment of the pleasure boat market in the world. it will continue to be the most important segment during the forecast period due to strong demand in the United States and Europe. This is because these boats have better speed, are easier to moor and cost much less to maintain compared to other variants. They are also less likely to catch fire because the motor is located on the outside of the boat. This makes outboard boats the most popular boat for boating enthusiasts.
The recreational boat market is dominated by established players such as Brunswick Corporation (United States), Groupe Beneteau (France), Malibu Boats (United States), Polaris Inc. (United States) and MasterCraft Boat Company (United States). -United). These companies have developed new products, adopted expansion strategies and undertaken collaborations, partnerships and mergers and acquisitions to gain traction in the pleasure craft market.
Company Name: Markets and Markets
Contact: Mr. Aashish Mehra
E-mail: Send an email
Address:630 Dundee Road, Suite 430
State: IL 60062
Country: United States