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3. Recreational Boat Industry - Forthcoming Trends to Fuel the Global Growth

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 industry is undergoing rapid evolution, driven by emerging trends and global forecasts.

Emerging trends in the global Recreational Boat Market are:

• Electric Elevation
• Smart Seamanship
• Sustainable Sails
• Bespoke Boating
• Electric Evolution
• Autonomous Adventures
• Angling Ascendancy
• Experiential Excursions

These emerging trends reflect the evolving preferences and priorities of consumers in the recreational boat market, driving innovation and shaping the future of boating experiences.

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

Electric Propulsion:

• With a growing focus on sustainability and environmental conservation, there is an increasing demand for electric propulsion systems in recreational boats. Electric motors offer quieter operation, lower emissions, and reduced maintenance compared to traditional gasoline engines.

Connectivity and Smart Features:

• Similar to automotive trends, there is a rising demand for connectivity and smart features in recreational boats. This includes integration with smartphones and tablets for navigation, entertainment, and remote monitoring of boat systems.

Lightweight and Sustainable Materials:

• Manufacturers are exploring lightweight and sustainable materials such as carbon fiber, aluminum, and recyclable composites to improve fuel efficiency and reduce the environmental impact of recreational boats.

Personalization and Customization:

• Consumers are seeking more personalized and customized boating experiences, leading manufacturers to offer a wide range of options for customization, including interior layouts, amenities, and color schemes.

Growth in Electric and Hybrid Boats:

• The popularity of electric and hybrid boats is on the rise, driven by advancements in battery technology and the desire for quieter, more eco-friendly boating experiences. Hybrid propulsion systems combine the benefits of electric and traditional engines, offering flexibility and efficiency.

Autonomous and Semi-Autonomous Features:

• Similar to the automotive industry, there is a growing interest in autonomous and semi-autonomous features for recreational boats, such as automated docking systems, collision avoidance technology, and autopilot capabilities.

Popularity of Recreational Fishing:

• Recreational fishing is a significant segment of the boating market, and there is a growing demand for specialized fishing boats equipped with features such as fish finders, livewells, and rod holders.

Experience-based Marketing:

• Manufacturers and dealers are increasingly focusing on experience-based marketing strategies, such as boat clubs, rental programs, and on-water events, to attract new customers and enhance brand loyalty.

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