South Korea Recreational Boating Market was valued at USD 1.85 Billion in 2022 and is projected to reach USD 2.56 Billion by 2030, growing at a CAGR of 4.5% from 2024 to 2030.
The South Korea recreational boating market has seen rapid expansion in recent years, driven by a growing interest in water-based leisure activities. As more people turn to boating as a popular way to spend their leisure time, the demand for recreational boats, accessories, and related services continues to rise. This burgeoning market is fueled by a combination of factors including an affluent middle class, increasing disposable incomes, and the country’s scenic coastline, which makes recreational boating a natural fit for outdoor enthusiasts.
Industries involved in the recreational boating market in South Korea are required to adapt to the evolving demands of consumers. Manufacturers, for instance, must prioritize innovation in boat design, incorporating modern technology for safety, performance, and comfort. The market is witnessing a shift toward high-end boats with cutting-edge navigation systems, eco-friendly engines, and luxurious features such as sun decks, entertainment systems, and enhanced hulls for smoother rides.
In terms of regulations, South Korea has implemented strict maritime laws that govern the safety standards of recreational boats. These rules demand that boats meet specific size, equipment, and maintenance criteria to ensure the safety of both the passengers and the environment. Boat owners and operators must also undergo training to be certified for operating such vessels. The growing popularity of water sports like yachting, fishing, and sailing has also led to a need for more specialized vessels designed to cater to these activities.
One of the major trends in the recreational boating market is the increasing interest in sustainable boating solutions. Manufacturers are incorporating environmentally friendly technologies, such as electric propulsion systems and biodegradable materials, into their designs to cater to eco-conscious consumers. As global attention shifts towards reducing carbon footprints, South Korea’s recreational boating sector is expected to align with this movement.
South Korea’s recreational boating market is also benefiting from advancements in digital technologies. Boat owners are seeking products with improved connectivity, from mobile apps for boat management to GPS-based tracking systems that enhance security and navigation. The integration of smart technology into boating experiences is becoming a standard expectation for customers.
In addition to the boats themselves, the market requires a strong infrastructure to support the growing number of boating enthusiasts. Marinas, boat rental services, and repair centers are increasingly in demand, as well as water-based tourism services offering guided tours and water sports activities. The development of these complementary services plays a critical role in the expansion of the recreational boating market in South Korea.
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Bayliner
American Sail Inc
Baja Marine
White River Marine Group
Sea Ray
Grady-White Boats
Mahindra & Mahindra Ltd
Boston Whaler Boats
Chaparral Boats
MASTERCRAFT
Malibu
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Recreational Boating Market
Sailboats
Powerboats
Canoes and Kayaks
Personal Watercraft (PWC)
Inflatable Boats
Recreational Fishing
Leisure Cruising
Water Sports
Sailing Competitions
Camping and Adventure
18-25 years
26-35 years
36-50 years
51 years and above
First-time Buyers
Experienced Owners
Rental and Charter Services
Corporate and Fleet Ownership
Small Boats (up to 20 feet)
Medium Boats (21 to 30 feet)
Large Boats (31 feet and above)
Yachts
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Recreational Boating Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Recreational Boating Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Recreational Boating Market, By Type
6. South Korea Recreational Boating Market, By Application
7. South Korea Recreational Boating Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Recreational Boating Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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