U.S. Recreational Boating Market Analysis By 2024: Regional Trend & Growth Projections

The U.S. recreational boating market is poised to grow at more than 4.5% CAGR through 2024. U.S. recreational boating industry is expected to tread along a lucrative roadmap in the years ahead, given the rising prevalence of water-based recreational activities such as camping, sailing, fishing, cruising, and boating. Reliable statistics indicate that more than 87 million U.S. adults participate in the recreational boating activities every year, and there were more than 11.87 million recreational boating vessels registered in the U.S. in 2015. Analysts claim that the changing consumer lifestyles and rising disposable incomes of the middle-class population have been inherently impacting the U.S recreational boating industry share, which was pegged at USD 20.5 billion in 2017.

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Statistics indicate that over 87 million adults participate in recreational boating in the U.S. and engage in travelling by boat, sports activities or fishing. When the country was in the grip of a major economic crisis in the last decade, the U.S. recreational boating industry initially took a hard hit. However, with the return of financial stability, the U.S. recreational boating market has witnessed renewed vigor with 12 million boats being registered and documented in 2017 across the country. The NMMA listed Florida as the state leading the number of registrations in 2017 followed by Minnesota, Michigan, California and Wisconsin with significant growth in the registration of recreational boats in the states of Oregon, Ohio and California. Unsurprisingly the Great Lakes region also accounted for a major portion of the registrations with most boats per capita.

The Bureau of Economic Analysis boasts of valid data to support the growth of the U.S. manufacturing industry. Estimates by the organization claim that U.S. manufacturing gross output increased to $6.228 trillion in the fourth quarter of 2017. The strong economy of the country is indeed bolstering the boating expenditure and new boat sales in the country as manufacturer optimism and capital spending continues to hit a record high. The growth trajectory of the U.S. recreational boating market is expected to be rather exponential in the ensuing years, as new products ranging from small fishing boats to large luxury yachts make an entry into this business sphere.

The world’s leading yacht manufacturer Azimut Benetti Group has recently made it to the headlines for starting its operation in Georgia. Presumably, its entry marks significant contribution in the regional economy, while also revolutionizing the boat building industry. Reports claim that Azimut Benetti, a leader in boat production has the most expensive sales network in the boating market across the globe, with 138 sites in 68 countries. 

The agreement is also poised to benefit the country with substantial rise in visitors and tourists interested in water & sport activities, in turn fueling the U.S. recreational boating market. The operations in Georgia are also expected to witness advancements in electric seats, large frameless windows, and walnut interiors that will allow passengers to focus more on the recreational activities.

With this acquisition, Brunswick is expected to add a highly attractive, broad, and complementary product portfolio for the U.S. recreational boating market space. Reports state that the new portfolio of Brunswick will include Blue Sea Systems, Czone, Marinco, Del City, Mastervolt, Ancor, BEP, Park Power, Progressive Industries, ProMariner, and Lenco Marine under its global Mercury Marine P&A business.

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Some Point from Table of Contents:

Chapter 4.     U.S. Recreational Boating Market, By Product

4.1. U.S. recreational boating industry share by product, 2017 & 2024

4.2. Inboard

4.2.1.  Market estimates and forecasts, 2013 – 2024

4.2.2.  Market estimates and forecast, by state, 2013 – 2024

4.3. Outboard

4.3.1.  Market estimates and forecasts, 2013 – 2024

4.3.2.  Market estimates and forecast, by state, 2013 – 2024

4.4. Inflatables

4.4.1.  Market estimates and forecasts, 2013 – 2024

4.4.2.  Market estimates and forecast, by state, 2013 – 2024

4.5. Sail boats

4.5.1.  Market estimates and forecasts, 2013 – 2024

4.5.2.  Market estimates and forecast, by state, 2013 – 2024

4.6. Personal watercrafts

4.6.1.  Market estimates and forecasts, 2013 – 2024

4.6.2.  Market estimates and forecast, by state, 2013 – 2024

Chapter 5.     U.S. Recreational Boating Market, By Power

5.1. U.S. recreational boating market share by power, 2017 & 2024

5.2. Engine powered

5.2.1.  Market estimates and forecasts, 2013 – 2024

5.2.2.  Market estimates and forecast, by state, 2013 – 2024

5.3. Man powered

5.3.1.  Market estimates and forecasts, 2013 – 2024

5.3.2.  Market estimates and forecast, by state, 2013 – 2024

5.4. Sail propelled

5.4.1.  Market estimates and forecasts, 2013 – 2024

5.4.2.  Market estimates and forecast, by state, 2013 – 2024

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