The Recreational Boat Market Size is projected to reach a remarkable $25.9 billion by 2028, driven by a growing demand for leisure activities, water-based tourism, and an increasing preference for outdoor recreational experiences. This market expansion is fueled by a rising interest in boat ownership, advancements in boat technology, and the availability of a wide range of recreational boat options such as yachts, sailboats, and pontoons. Factors such as disposable income growth and enhanced accessibility to coastal and inland waterways are contributing to the surge in recreational boating globally.
Additionally, the Recreational Boat Market Size is also influenced by the growing trend of sustainable boating and the adoption of electric boats, which offer eco-friendly alternatives for water sports and leisure activities. Governments and industry players are investing in marina development, boat safety, and infrastructure, further boosting the market’s potential. As consumer preferences shift toward luxurious and customizable boats, the market is expected to maintain its upward trajectory, presenting lucrative opportunities for manufacturers and stakeholders by 2028.
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Outboards are estimated to account for the largest market size during the forecast period
The outboard boats segment holds the leading position in its segment the global recreational boat market and is expected to maintain and increase its market share in the forecast period. This segment has high demand, particularly in the Asia Oceania, United States and Europe, driven by several factors that make outboard boats highly appealing to boating enthusiasts. One of the key advantages of outboard boats is their superior speed. Equipped with powerful outboard engines, these boats offer excellent acceleration and cruising speeds, allowing boaters to enjoy thrilling and exhilarating experiences on the water. The ability to swiftly navigate through waterways makes outboard boats a popular choice for recreational activities such as water sports and cruising.
North America is expected to be the largest and fastest market during the forecast
North America is estimated to second larget market of the recreational boatin 2023 in terms of value. Germany, The region is a major hub for several renowned OEMs, including Brunswick Corporation,Malibu Boats, MasterCraft, Polaris Inc., Bombardier Recreational Products. The North American boat industry is the largest in the world. Most American boats are equipped with high-end technologies, which include advanced navigation, digital consoles, high performance and efficiencent porpulsion, and other features providing comfort. This offers recreational boat OEMs opportunities to increase their presence in North America.
Key Players
The recreational boat market is dominated by global players such as Brunswick Corporation (India), Yamaha Motor Corporation (Japan), Groupe Beneteau (France), Malibu Boats (US) and Ferretti Group (Italy). These companies offer extensive products and solutions for the recreational boat industry; have strong distribution networks at the global level, and invest heavily in R&D to develop new products.
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