SAN FRANCISCO, Sept. 24, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Recreational Boats - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: April 2021
Executive Pool: 1162
Companies: 36 - Players covered include Azimut Benetti Group; Bavaria Yachtbau; Bennington Marine LLC; Brunswick; Catalina Yachts; Ferretti Group; Godfrey Pontoon Group; Groupe Beneteau; Hobie CAT Company; Lund Boats; Mahindra Odyssea; Marine Product Corporation; Ranger Boats; Sunseeker International Limited; Tracker Boats and Others.
Coverage: All major geographies and key segments
Segments: Boat Type (Outboard Boats, Inboard Boats / Stern Type Boats, Personal Watercraft Boats, Sail Boats / Yachts, Other Boat Types); Power Source (Engine, Sail, Human); Activity (Cruising / Watersports, Fishing)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Recreational Boats Market to Reach $31.7 Billion by 2026
Amid the COVID-19 crisis, the global market for Recreational Boats estimated at US$26.7 Billion in the year 2020, is projected to reach a revised size of US$31.7 Billion by 2026, growing at a CAGR of 2.9% over the analysis period. Outboard Boats, one of the segments analyzed in the report, is projected to record a 3.4% CAGR and reach US$13.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Inboard Boats / Stern Type Boats segment is readjusted to a revised 2.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $8.1 Billion in 2021, While China is Forecast to Reach $5.7 Billion by 2026
The Recreational Boats market in the U.S. is estimated at US$8.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.7 Billion by the year 2026 trailing a CAGR of 2.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 2.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR.
Personal Watercraft Boats Segment to Reach US$4.9 Billion by the year 2026
In the global Personal Watercraft Boats segment, USA, Canada, Japan, China and Europe will drive the 2.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.4 Billion in the year 2020 will reach a projected size of US$4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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