Recreational Boats Market

Crestliner (Illinois, USA) and Groupe Beneteau (Illinois, USA) are the Key Players in the Recreational Boats Market

The recreational boats market is projected to grow from USD 27.3 billion in 2019 to USD 33.8 million by 2027 at a CAGR o 2.8%. Rising disposable income have boosted travel and tourism activity across the globe. There has been many boat events, championships and tournaments arranged in North America and Europe. The trend of purchasing a recreational boat for leisure activity is also booming in developing countries like India, China etc. The advanced technological features and new propulsion system for reduction of pollution are one of the major factors for the growth of the market.

The recreational boats market is consolidated and dominated by a few global players. The key players in the market are Brunswick (USA), Azimut Benetti Group (Italy), Sunseeker International ltd  (UK), Groupe Beneteau (France), Marine Product Corporation (USA), Bennington Marine LLC (USA), Bavaria Yachtbau  (Germany), Godfrey Pontoons Group (USA), Lund Boats (USA), Tracker Boats  (USA), Ranger Boats (USA) Catalina Yachts (USA), Ferretti Group (USA), Mahindra Odyssea (India), Hobie Cat Company (USA).

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Brunswick is one of the leaders in the recreational boats market. It has diverse product portfolio and has shown growth strategies through expansions, new product developments, mergers and acquisitions, JV’s/partnerships in the global market. The company has its presence over all the globe. The company in July 2016 acquired the assets of Payne’s Marine Group Victoria, a leading whole sale distributer of parts and accessories in Canada. Both the companies will extend their presence and improve their sales revenue through this acquisition.  

Crestliner, one of the premium brands of Brunswick has planned new products in the market for the upcoming years. For e.g.: the company announced new redesigned model of 1650 Fish Hawk with more advanced features, increased onboard comfort and industry leading power (hp). The company in May 2018 also announced a new pontoon series boats named as sprint that are ideal for the novice boaters and those who are looking for water versatility at competitive pricing.

Groupe Beneteau is next leading player with the capability to develop innovative products and accessories for recreational boats. The company in Feb 2019 announced a partnership agreement with Irish marine technology company Raceix, which is into developing hardware and software suite that encourages and support the activities, lifestyle and adventures of the boaters with an emphasis on motorboats less than 8m in length.

Related Reports:

Recreational Boats Market by Boat Type (Outboard boats, Inboard boats/stern type, Sail boats/Yachts, Personal Watercraft, Inflatable), Power source, Activity Type (Watersports+Cruising, Fishing), Distribution Channel, and Region - Global Forecast to 2027

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Report Code
AT 7100
RI Published ON
5/10/2019
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