Recreational Boating Market Analysis and Opportunity Assessment 2021-2027

North America recreational boating market is estimated to gain major traction over the projected timeline on account of increasing millennial population base along with increasing interest of people in recreational activities like water sports. Rising disposable income coupled with developed nautical tourism infrastructure across the region will create robust growth opportunities for businesses in the recreational boating sphere. However, negative impact of the COVID-19 pandemic may restrain the over tourism industry.

Rising disposable incomes along with increasing expenditure on leisure activities are likely to drive global recreational boating market outlook. Over the past few years, a renewed interest has been observed among masses regarding skin diving, fishing, water skiing, canoeing, surging, kayaking, boat rowing, etc.

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Inflatable boats are gaining high significance in rescue operations and short distance travels. Rise in number of calamities, refinery accidents and vessel catastrophes may fuel the need for inflatable boats. Moreover, increasing emphasis on implementing preventive measures against drowning, especially across the tourism sector, may drive inflatable boats demand.

Players in the recreational boats business are increasingly working on developing drowning preventive boats that would be help at the time of water sports casualties or mishaps. They are progressively introducing inflatable boats equipped with highly resistant fabric, fast inflation kit for military & rescue operations and intercommunication valve system. For instance, in 2017, ZODIAC MILPRO developed inflatable boats that were designed specifically for underwater and airdrop military operations.

Introduction of high-performance boats that come with better engine capacities has encouraged individuals towards recreational boating activities. In order to boost tourism sector, various private and public authorities across the globe are making huge investments for the development of recreational boating infrastructure.

To sustain in the competitive scenario, manufacturers in the recreational boating market are focusing on technological advancements, innovation strategies as well as maintaining public relations. They are indulged in developing new products to enhance customer experience.

Introduction of boats equipped with electric & hybrid-powered propulsion systems, joystick control and bow thruster for better maneuverability has advanced the recreational boating market landscape. For instance, Grady-White Boats, in 2020, announced plans to launch outboard boats equipped with joystick and gas-powered engines for enhanced consumer experience.

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Charts & Figures

FIG. 1 Recreational Boating market segmentation

FIG. 2 Recreational Boating market size, 2016 – 2026 (USD Million)

FIG. 3 Industry ecosystem analysis

FIG. 4 Growth potential analysis

FIG. 5 Porter’s analysis

FIG. 6 Company market share analysis, 2019

FIG. 7 Recreational Boating market PESTEL analysis

FIG. 8 SWOT Analysis, American Sail Inc.

FIG. 9 SWOT Analysis, Bavaria Yachtbau

FIG. 10 SWOT Analysis, Brunswick Corporation

FIG. 11 SWOT Analysis, Correct Craft

FIG. 12 SWOT Analysis, Grady-White Boats, Inc.

FIG. 13 SWOT Analysis, Groupe Beneteau

FIG. 14 SWOT Analysis, Malibu Boats

FIG. 15 SWOT Analysis, Marine Products Corporation

FIG. 16 SWOT Analysis, MasterCraft Boat Company, LLC

FIG. 17 SWOT Analysis, Maverick Boat Group, Inc.

FIG. 18 SWOT Analysis, Monterey Boats

FIG. 19 SWOT Analysis, Porter Inc.

FIG. 20 SWOT Analysis, Pursuit Boats.

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