The global recreational boat market size is expected to reach USD 27.48 billion by 2030 according to a new study by Polaris Market Research. The report “Recreational Boat Market Share, Size, Trends, Industry Analysis Report, By Type (Yachts, Sailboats, Personal Watercrafts, Inflatables, Others), By Size (<30 Feet, 30-50 Feet, >50 Feet), By Engine type (ICE, Electric), By Power Source (Engine Powered, Sail Powered, Human Powered), By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Recreational boating is a relaxing activity on traveling on water bodies in a boat. Factors such as the increasing number of water-based tourism activities and rising interest in leisure water-sport activities may spur the product demand. Besides, continuous technological developments in boats & engines and growing disposable income further create several profitable industry development opportunities over the forecast period.
Based on type, the yacht segment is holding the highest share in the global industry in 2021 due to an increasing number of recreational water activities and the escalating disposable income leading to the dominancy of the industry around the world. The sailboats segment is likely to rise at the highest growth rate in the foreseen years.
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The emergence of digital marketing is untapped in the market growth across various regions. Earlier, numerous companies were inclined on the dealers or boat shows for promoting the selling of their products, but the robust development of online trading for boats may fuel the industry demand. Thus, the development of the online mode of boat sales increases the scope for the manufacturing companies.
Industry participants such as Bass Pro Group, Azimut Benetti Group, Malibu Boats, Bombardier Recreational Products, Marine Products Corporation, Bryton Marine Group, Brunswick Corporation, Hobie Cat Company, Groupe Beneteau, Polaris Inc, Sunseeker International, White River Marine Group, Mastercraft Boat Company, and Yamaha Motor Co., Ltd. are some of the key players operating in the global industry.
Various market players are frequently introducing new products in the market to intensify their business growth. For instance, in July 2021, Heyday introduced its H22 – Introducing the Next Generation of Wake Boats. This is the newest addition to Heyday’s product line-up, which stands for standards for its performance for such a class of product.
Polaris Market Research has segmented the recreational boat market report on the basis of type, size, engine size, power source, and region:
Recreational Boat, Type Outlook (Revenue – USD Billion, 2022 – 2030)
- Personal Watercrafts
Recreational Boat, Size Outlook (Revenue – USD Billion, 2022 – 2030)
- <30 Feet
- 30-50 Feet
- >50 Feet
Recreational Boat, Engine Type Outlook (Revenue – USD Billion, 2022 – 2030)
Recreational Boat, Power Source Outlook (Revenue – USD Billion, 2022 – 2030)
- Engine Powered
- Sail Powered
- Human Powered
Recreational Boat, Regional Outlook (Revenue – USD Billion, 2022 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa