Major Application / End-User Recreational Boating Market Outlook, Consumption, Share and Growth Rate 2027 – The Manomet Current

According to a recent report published by Allied Market Research, titled “Recreational Boating Market by Power, Product Type, Business Type and Size: Global Opportunity Analysis and Industry Forecast, 2020-2027The global recreational boating market was valued at $ 29.0 billion in 2019 and is expected to reach $ 35.4 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027.

Get a sample report with Industry Insights @

https://www.alliedmarketresearch.com/request-sample/5723

Europe is the biggest contributor to revenue, followed by North America, Asia-Pacific and LAMEA. Based on the forecast analysis, Europe is expected to maintain its lead during the forecast period, owing to the growing demand for luxury cruise ships, the increase in coastal and maritime tourism and the growing participation of adults in boating.

Boating is a leisure activity that involves traveling on water in a boat. Many individuals use it for fun and enjoyable activities on outings with family and friends. Boating includes many activities such as boat racing, sailing, countryside, fishing and other water sports such as motor boat racing, sport fishing, kayaking and others. Boating is generally practiced with the aim of making the experience of tourism more enjoyable.

To get a discount, make a purchase request @

https://www.alliedmarketresearch.com/purchase-enquiry/5723

Pleasure craft, also known as pleasure craft, come in different types, including tugs, sailboats, fishing boats, pontoon boats, and cruise ships. These boats are mainly made of plastic, aluminum and coated fabrics. Yachting events are open to all kinds of boats such as motor, sail or human powered boats.

Factors such as growing interest in recreational water sports activities and increasing water tourism are expected to drive the market growth. However, the high upfront and ownership costs of recreational craft and environmental concerns associated with boating are expected to hamper the growth of the market. Further, technological advancements in boats and boat engines and the growth of high net worth population are some of the factors which are expected to provide lucrative opportunities for market growth during the forecast period.

COVID-19 impact analysis:

There has been a significant impact on supply chains globally. Boat and engine manufacturers suffered huge losses in the first and second quarters of 2020 due to disrupted supply chains and production schedules. The rapid spread of COVID-19 in the United States, Europe and Asian economies has resulted in nationwide lockdowns and a temporary shutdown of production facilities to prevent further spread. However, the market quickly started to gain traction in the second quarter of 2020, and outboard motor boats began to see an increase in demand for recreational purposes. According to the National Marine Manufacturers Association, in May 2020, new boat sales rebounded strongly, up 59% from April 2020 and 9% from pre-pandemic levels on a seasonally adjusted basis.

Request to customize this report @

https://www.alliedmarketresearch.com/request-for-customization/5723

Main conclusions of the study

  • On the basis of horsepower, the engine segment is expected to show remarkable growth during the forecast period.
  • On the basis of product type, the inboard boat segment is the largest contributor to the recreational boating market in terms of revenue.
  • By type of activity, the nautical sports and cruising segment is the largest contributor to the recreational boating market in terms of turnover.
  • In terms of size, the 100+ foot segment is expected to show remarkable growth during the forecast period.

The main players operating in the recreational boating market are Azimut Benetti Group, Brunswick Corporation, Groupe Beneteau, Hobie Cat Company, Marine Products Corporation, Mastercraft Boat Holdings, Inc, Polaris Inc, Sunseeker International Limited, White River Marine Group and Yamaha Motor Co., Ltd.

About Us

Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

We have professional relationships with various companies, which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecast. Pawan Kumar, CEO of Allied Market Research is essential in inspiring and encouraging everyone associated with the business to maintain high quality data and to help customers in every way possible to be successful. Each of the data presented in the reports we publish is taken from primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.

Contact:

David Corréa
5933 NE Win Sivers Drive
# 205, Portland, OR 97220
United States
United States / Canada (toll free):
+ 1-800-792-5285, + 1-503-894-6022, + 1-503-446-1141
UK: + 44-845-528-1300
Hong-Kong: + 852-301-84916
India (Pune): + 91-20-66346060
Fax: +1(855)550-5975
[email protected]

The Web: www.alliedmarketresearch.com

Source link