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3. Recreational Boat Market Size & Share - Future Growth Expectations

The global recreational boat market, by value, is estimated to be USD 18.9 Billion in 2023 and is projected to reach USD 25.9 Billion by 2028, at a CAGR of 6.5% from 2023 to 2028. In the near future, demand for recreational boat is expected to increase due to favourable investment made for boat industry.

The recreational boat market is poised for substantial growth in the coming years, driven by several key factors:

• Technological Marvels
• Prosperous Pursuits
• Tourism Thrust
• Lifestyle Luxuries
• Regulatory Winds of Change

To know about the assumptions considered for the study download the pdf brochure

Technological Marvels:

• The recreational boat market is on the cusp of remarkable growth, fueled by a wave of technological innovations. From advanced propulsion systems to cutting-edge materials, these innovations are reshaping the industry, offering boaters safer, more efficient, and environmentally conscious options.

Prosperous Pursuits:

• With disposable incomes on the rise worldwide, more individuals and families are embracing leisure activities, propelling the demand for recreational boating to new heights. Boating enthusiasts are investing in their passion, driving the market forward.

Tourism Thrust:

• The booming tourism and hospitality sector, especially in waterfront destinations, is setting sail for growth. From coastal retreats to water-based attractions, the demand for recreational boats for rental, charter, and leisure activities is surging, buoyed by the influx of travelers seeking unforgettable aquatic experiences.

Lifestyle Luxuries:

• Evolving consumer lifestyles are steering the course of the recreational boat market. As interest in outdoor recreation and water sports continues to surge, recreational boating emerges as a preferred leisure pursuit, reflecting a shift towards experiential living and adventure-filled escapades.

Regulatory Winds of Change:

• Government initiatives and regulations are charting a course towards a brighter future for recreational boating. Supportive policies, incentives for infrastructure development, and regulations promoting safety and environmental stewardship are shaping a favorable landscape for market growth.

Based on these factors, the recreational boat market is projected to experience robust growth in the coming years, with significant opportunities for market players to capitalize on emerging trends and technological advancements.

Recreational Boat Market Share - Global Industry Landscape

The recreational boat market is characterized by the presence of several key players competing for market share. Some of the leading companies in the recreational boat industry include:

• Brunswick Corporation (India),
• Yamaha Motor Corporation (Japan),
• Groupe Beneteau (France),
• Malibu Boats (US),
• Ferretti Group (Italy).

These companies, along with several others, collectively shape the global recreational boat industry landscape. Market dynamics are influenced by factors such as technological innovation, regulatory compliance, strategic partnerships, and market consolidation. As the demand for recreational boat continues to rise, companies are expected to intensify their efforts to capture market share and drive innovation in recreational boat discovery, development, and commercialization.

Brunswick Corporation (India):

• Market Share: Brunswick Corporation is one of the largest players in the recreational boat industry globally, with a significant presence in India.
• Key Offerings: Brunswick offers a diverse range of recreational boats under various brands, including Mercury Marine, Boston Whaler, Sea Ray, and Bayliner. Their offerings span across fishing boats, sport boats, cruisers, and yachts, catering to a wide range of boating enthusiasts.

Yamaha Motor Corporation (Japan):

• Market Share: Yamaha Motor Corporation is a leading manufacturer of recreational boats, particularly known for its high-performance watercraft.
• Key Offerings: Yamaha offers a comprehensive lineup of boats, including jet boats, sport boats, fishing boats, and pontoons. Their boats are renowned for their reliability, innovative features, and cutting-edge technology, making them popular choices among boaters worldwide.

Groupe Beneteau (France):

• Market Share: Groupe Beneteau is a prominent player in the recreational boat market, specializing in sailboats, powerboats, and luxury yachts.
• Key Offerings: Groupe Beneteau offers a wide range of boats under various brands, including Beneteau, Jeanneau, Lagoon, and Prestige. Their offerings encompass sailing yachts, motorboats, catamarans, and luxury cruisers, catering to both recreational and professional boating markets.

Malibu Boats (US):

• Market Share: Malibu Boats is a leading manufacturer of towboats and wakeboard boats, known for their performance and innovation.
• Key Offerings: Malibu Boats specializes in wakeboarding, wakesurfing, and waterskiing boats, offering a range of models designed for different skill levels and water sports activities. Their boats feature advanced hull designs, customizable ballast systems, and innovative technology for creating optimal wakes and waves.

Ferretti Group (Italy):

• Market Share: Ferretti Group is a luxury yacht manufacturer with a global presence, renowned for its high-end, custom-built vessels.
• Key Offerings: Ferretti Group offers a portfolio of luxury yachts under various brands, including Ferretti Yachts, Pershing, Riva, and Custom Line. Their offerings include flybridge yachts, sport yachts, and mega yachts, tailored to the preferences of discerning clients seeking luxury, comfort, and performance on the water.

Related Reports:

Recreational Boat Market by Boat Type (Yachts,Sailboats, Personal Watercrafts, Inflatables), Size (<30 Feet, 30-50 Feet, >50 Feet), Engine Placement, Engine (ICE, Electric), Material, Activity Type, Power Source,Region - Global Forecast to 2028