Recreational Boat Market

Market Leader - Recreational Boat 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 growth of the market is influenced by the rising demand for cruising and watersports along with other recreational boating activities. The Recreational boat market is dominated by established players such as Brunswick Corporation (US), Groupe Beneteau (France), Malibu Boats (US), Polaris Inc. (US) and MasterCraft Boat Company (US). These companies have been developing new products, adopted expansion strategies, and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in the recreational boat market.

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Brunswick Corporation is an American MNC developing a variety of marine products including different kinds of boats and has a presence in 24 countries around the world. Some of its major Recreational boat brands include Sea Ray, Boston Whaler, Bayliner, Mercury Marine, Attwood, Lund, Crestliner, MasterVolt, MotorGuide, Harris Pontoons, Freedom Boat Club, Princecraft, Heyday, Lowe, Uttern, Quicksilver and Czone among many others. The company has maintained a fast pace of new product development by building new innovative boat designs for providing one of the world’s best boatsUS is its major market followed by Europe, Asia Pacific, Canada and rest of the world. The company is historically known for its high quality boats and parts for the marine industry. It operates in three major segments, i.e. Boats, Propulsion and Parts & Accessories. The company has been an innovator and technology disruptor in the marine industry. In July 2021, Brunswick’s Heyday brand launched its new H22 boat as part of its upcoming series of next generation wake boats. The boat comes with a length of 22’4 and has a 14-person capacity. In February 2021, Brunswick’s Sea Ray announced launch of Sundancer 370 boat. It has a 66 feet storage space and comes with high class luxury features ideal for holding parties and social gatherings. In September 2020, Brunswick’s Boston whaler launched its new vintage boat for high versatility. The boat is suitable for a range of activities including fishing, cruising, water sports, leisure boating, etc.

Groupe Beneteau is one of the worldwide market leaders in the boating industry and is involved in boats, and Leisure homes. Its boating division caters to the market through brands like Beneteau, Jeanneau, Lagoon, Prestige, Monte Carlo Yachts, Wings, Glastron, Scarab, Wekkcraft, Excess and Delphia. It also offers boating services including finance and band of boats. The company offers a range of innovative boats with varying features. The boating division of the company is categorized into sailboats, motorboats. The company has its major markets across US and Europe with a substantial demand from the rest of the world. The company provides over 100 kinds of boats from all its brands combined. In June 2021, The company launched its Grand Turiamo 45 luxury boat with high class interiors, and dynamic control. It has a length of 14.78 meters, 900 Liters fuel capacity, 400 Liters freshwater capacity and 2X 440 CV/HP engine power. In September 2020, The Flyer 9 was showcased as part of the Cannes yachting festival. It came with an overall length of 8.27 meters, fuel capacity of 400 liters, engine power of 500 CV and a freshwater capacity of 100 liters. In February 2020, Beneteau showcased its new Oceanis 40.1 and Oceanis yacht 54 models with innovative cockpit layout and easier boat control features. The 40.1 boat will come with a 12 meters space for improving cruising experience.   

Malibu Boats is an American manufacturer of recreational boats. The company is headquartered in Loudon, USA and has production facilities in South Wales, Australia. The company is one of the world’s biggest manufacturers of recreational boats and watersports towboats. The company operates through four brands i.e. Malibu boats, Axis Wake, Cobalt Boats, Maverick Boats and Pursuit boats. The company produces Outboard, Sterndrives, Sport Boats, Jet boats and cruisers under all the brands combined. It mainly operates in the Boats and Parts segments. The company has its major sales in US with a newly growing market across other countries. In July 2021, Malibu boats launched the 25 LSV with a length of 7.62 meters, as part of its LSV series. It has a max capacity of 18 people and comes with 390 liters fuel capacity and 430 hp torque. In October 2020, Malibu boats subsidiary pursuit boats launched its S 428 sports boat model at Ford Lauderdale Boat show. The boat is 13.3 meters length, has a quad 425 engine, fuel capacity of 83 liters. In September 2020, Malibu boats launched the Luxury wake boat as part of its M series of boats. It has a length of 6.83 meters, 229 Liters fuel capacity and 15 people seating capacity.

Polaris Inc., MasterCraft Boat Company, Bombardier Recreational Products, Bass Pro Group, Bryton Marine, Azimut Bentetti, Sunseeker International, Ferretti Group, Marine Products Corporation, etc. are some of the other top companies in this market. In June 2021, Bombardier launched its new 430 Topender boat under its Marine products range. It has 4.57 meters length, with 2.14 meters beam height. It has a seating capacity of 5 people and has a 60 hp engine. In June 2021, Sunseeker launched its new 100 yacht which comes with a master storeroom, private bow terrace, sunbathing hideaways and luxury interiors. The yacht is powered by MTU 12V 2000 M96X and MTU 16V 2000 M96L engines. It can accommodate smaller jet boats for enjoying water sports. In May 2021, Bombardier launched its new 430 Fisheabout boat under its Marine products range. It has 4.57 meters length, with 2.14 meters beam height. It has a seating capacity of 5 people and has a 50 hp engine. In May 2021, Ferretti group released its Ferretti yacht in Taiwan for sales in Asian region. It had a length of 15.33 meters, beam height of 4.29 meters and came with luxury interiors. In April 2021, Azimut Benttii Group showcased its new delfino 95 yacht. It is a 29 meters luxury yacht with a capacity of 10 guests across its three decks. It comes with advanced luxury interiors and an engine with cruising speed of 10 knots. In February 2021, Sunseeker launched the 65 sports yacht. It comes with 20.5 meters length, 5.1 meters hull height, 3,500 litres fuel capacity, 750 nautical miles range and 35 knots speed. In February 2021, Polaris Inc. launched its new 2021 its 2286 SFL Sweetwater lounge. It comes with a 22’11’’ length, 12-15 passenger capacity, 30 gallons fuel capacity and a 150 hp engine.

Related Reports:

Recreational Boat Market by Boat Type (Sailboats, PWC, Inflatables), Size (<30 Feet,>50 Feet), Engine Placement (Outboards, Inboards), Engine (ICE, Electric), Material (Aluminium, Fiberglass), Activity Type, Power Source & Region - Global Forecast to 2027

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Report Code
AT 7100
RI Published ON
9/6/2021
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