Recreational Boating Market worth USD 35,380.0 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Recreational Boating Market by Power (Man Powered, Engine Powered, and Sail Propelled), by Product Type (Inboard Boats, Inflatable, Sail Boats, Outboard Boats, and Personal Watercrafts), by Activity Type (Fishing and Watersports & Cruising), by Size (Less than 30 ft, 30 to 59 ft, 60 to 79 ft, 80 to 99 ft, and More than 100 ft, and Full Custom), by Region – Global Share and Forecast to 2027". The global recreational boating market size is expected to grow from USD 24,995.0 million in 2020 to USD 35,380.0 million by 2027, at a CAGR of 5.1% during the forecast period. Recreational boating can impact the environment in numerous ways, including air & water pollution, habitat disturbance, trash & other marine debris, sewage disposal, and human & pet waste. In addition, recreational boat engines have been identified as a source of air pollution, while older marine engines impact water quality. Moreover, fuel & oil spills and refueling spills leak volatile organic compounds (VOCs) directly into aquatic ecosystems.

Furthermore, excessive chemicals and pesticides to clean, protect, and operate watercraft also impact marine life. Thus, various government authorities worldwide are regulating and restricting recreational boating in several coastal areas to protect marine life. Therefore, such environmental concerns associated with recreational boating are expected to hamper the market growth.

Global Recreational Boating Market Segmentation

The recreational boating market has been segmented into power, product, activity, size, and region.

• By Power (Man Powered, Engine Powered, and Sail Propelled)
• By Product Type (Inboard Boats, Inflatable, Sail Boats, Outboard Boats, and Personal Watercrafts)
• By Activity Type (Fishing and Watersports & Cruising)
• By Size (Less than 30 ft, 30 to 59 ft, 60 to 79 ft, 80 to 99 ft, and More than 100 ft, and Full Custom)
• By Region (US, Mexico, Canada, Germany, France, UK, Italy, Spain, China, India, South Korea, Japan, Southeast Asia, Australia, Saudi Arabia, Peru, South Africa, Qatar, UK, Nigeria, Israel, Brazil, Argentina)

By product type, the inboard boat segment is estimated to hold the largest market share during the forecast period

The recreational boating market is categorized into inboard boats, outboard boats, inflatables, sailboats, and personal watercraft by product type. The inboard boat segment generated the highest revenue of 38.6% of the global recreational boating market in 2020, and it is expected to register a significant CAGR from 2021 to 2027. In inboard boats, the inboard engines are located inside the boat's hull's midsection or in front of the transom. Inboard engines are four-stroke automotive engines that have been modified for use on the water. These engines power a drive shaft that is connected to a propeller.

Inboard boats come with a considerably higher power range and fuel efficiency than an outboard boats. Inboard boats are mostly preferred for fishing and leisure cruise boats. They also find significant application in recreational water sports boats, including water-tubing, wakeboarding, water-skiing. Considerable growth over the past decade in activities, such as short-distance or long-distance leisure cruise travels and recreational sports, including wake surfing, boosts inboard boats' adoption in the recreational boating market. In addition, maintenance requirements of inboard engine boats are lower than outboard engine boats.

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Europe accounts for the largest market share in the recreational boating market in 2020

Based on the regions, the global recreational boating market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, Europe accounted for the highest market share of 51.2% in the global recreational boating market and was anticipated to maintain its dominance throughout the forecast period. The European recreational market is analyzed across countries such as the UK, Germany, France, Italy, and the rest of Europe. The rest of Europe includes Spain, the Netherlands, Sweden, Poland, and others. European countries, such as Italy, Germany, and France, are expected to provide more opportunities for market growth during the forecast period, owing to a large number of market players, increasing boating participation, and a rise in disposable income.

Increasing demand for luxury cruisers, rising coastal & maritime tourism, and increasing boating participation by adults are the key factors fostering the growth of the recreational boating market in Europe. Moreover, the European government authorities support recreational water activities, including rowing, sailing, water-skiing, and other recreational boating activities across the European region, which positively influences the recreational boating market in Europe.

This research report includes a study on the development and marketing strategies, along with the product portfolios and winning strategies of the leading companies operating in the recreational boating market. It also consists of leading companies such as Azimut Benetti Group, Groupe Beneteau, Marine Products Corporation, Brunswick Corporation, Sunseeker International Limited, Hobie Cat Company, White River Marine Group, Yamaha Motor Co., Ltd., Mastercraft Boat Holdings, Inc, and Polaris Inc.

Browse complete report: https://www.marketstatsville.com/recreational-boating-market

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