Recreational boating market is anticipated to reach USD 60 billion by 2027 on account of the proliferating tourism industry worldwide. Additionally, rising government expenditure on the development of the tourism sector is likely to augment market demand over the forecast timeline.
Aquatic recreational activities have increasingly become a trend in recent years, fueled new growth opportunities in recreational boating market. Numerous water recreational activities such as duck hunting, skin diving, water skiing, and fishing are gaining tremendous popularity. The prevalence of water recreational activities has inherently surged lately, due to rising disposable income and increasing urbanization.
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Studies estimate that North America could offer lucrative growth opportunities to the companies operating in the recreational boating market. Water sports activities, being one of the most popular recreational activities in North America, have helped recreational boat sales to grow at an exponential rate.
Private and public authorities in the region are investing heavily to create recreational boating infrastructure. Taking May 2019 for an instance, the U.S. Fish and Wildlife Service’s BIG (Boating Infrastructure Grant) program contributed USD 20 million to construct needed amenities and facilities for boating.
Apart from this, the advent of technologically advanced boats, increasing disposable income along with growing national tourism infrastructure have impelled individuals to opt for recreational activities, offering new business strides for recreational boat manufacturers in North America.
The prominent players in recreational boating market include Yamaha Motor Corporation, Correct Craft, Malibu Boats, Porter Inc., Brunswick Corporation, Grady-White Boats, Groupe Beneteau, and Maverick Boat Group, Inc.
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Partial Chapter of the Table of Content
Charts & Figures
FIG. 1 Industry segmentation
FIG. 2 Recreational Boating market size, 2017 - 2027 (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 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. (Formula Boats)
FIG. 20 SWOT Analysis, Polaris, Inc.
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