Recreational Boats Market to grow by USD 5.6315 Billion from 2022 to 2027; A. H. Wadia Boat Builders, Azimut Benetti SpA & Baja Marine to emerge as key contributors- Technavio

NEW YORK, Aug. 17, 2023 /PRNewswire/ -- The recreational boats market size is estimated to grow by USD 5,631.52 million from 2022 to 2027, growing at a CAGR of 5.66%, according to Technavio. North America is estimated to contribute 48% to the growth of the market during the forecast period. The US and Canada are the primary markets in the region, with the US being the largest for recreational boats, contributing around two-thirds of the total revenue. Boating is a major recreational activity favored by US citizens. Factors like positive economic growth over the last decade, rising consumer confidence, and continuous technological innovations by boat manufacturers have further fueled the growth of the market in the US. Hence, these factors are expected to drive market growth in the region during the forecast period. For Comprehensive details on the market size of the historical period (2017 to 2021) and forecast period (2023-2027) - View the Sample report

Company Landscape

The recreational boats market is fragmented; the companies are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products -The report provides a full list of key companies, their strategies, and the latest developments. Buy Now

Market Dynamics

Key Drivers

Increasing customer engagement in recreational boating activities is a key factor driving market growth. The US and Europe dominate the recreational boating markets, with new powerboat sales experiencing continuous growth over the past seven years. In 2020, retail unit sales of new powerboats saw a significant 12% increase compared to 2019, as reported by the National Marine Manufacturers Association. In addition, a major driver of this growth is the popularity of marina and charter services in the US, as people with mid-level and low-level incomes opt for boating experiences over the expensive ownership and maintenance of leisure boats. Hence, these factors are expected to drive market growth during the forecast period.

Major Trends

The growing population of high-net-worth individuals is a major trend in the market. Owning a recreational boat is expensive, and the largest buyers of luxury boats are high-net-worth individuals (HNWIs). Market growth is highly dependent on the world's HNWI population. Recreational boating is becoming a major leisure activity around the world and is no longer confined to the Western regions. The growing number of HNWIs has led to increased spending on recreational activities such as recreational boating as it aligns with the interests of HNWIs. Affordability for this customer segment has driven significant investment into the recreational boating market. Therefore, these factors are expected to drive market growth during the forecast period.

Significant Challenges

The high total cost of ownership for recreational boats is a significant challenge restricting market growth. Recreational boats are considered a luxury, with continuously rising average prices impacting sales volume. Apart from the initial investment, other costs contribute to the high total cost of ownership, making it economically unfeasible for low- and middle-income families. Consequently, the global recreational boats market remains a niche in emerging economies due to its expensive nature. Hence, the high total cost is expected to restrict market growth during the forecast period.

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View Sample Report

Company Profiles

The recreational boats market report includes information on the product launches, sustainability, and prospects of leading companies including A. H. Wadia Boat Builders, Azimut Benetti SpA, Baja Marine, Bavaria Yachtbau GmbH, Brunswick Corp., Christensen Shipyards LLC, Damen Shipyards Group, Feadship Holland BV, Grady White Boats Inc., Great American Marine, Groupe Beneteau, Halevai Power, Jettec Jet Boats Ltd., Malibu Boats Inc., Marine Products Corp., MasterCraft Boat Holdings Inc., Nobiskrug Yachts GmbH, Shandong Heavy Industry Group Co. Ltd., and Yamaha Motor Co. Ltd.

Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.

 Market Segmentation

The market is segmented by type (sailboats, personal watercraft (PWC), and inflatables), product type (outboards and inboard), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

• The market share growth by the sailboats segment will be significant during the forecast period. The growth is due to factors like the rise in recreational tourism and increased sailing activities. Countries like Greece, Spain, France, and Italy, with their scenic landscapes and long coastlines, attract numerous tourists, particularly high-net-worth individuals (HNWIs). In addition, the surge in tourists from developing countries like China and India, who spend significantly more on foreign tourism compared to domestic tourism, also contributes to this growth. Hence, these factors are expected to drive segment growth during the forecast period.

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Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (USD million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (USD million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global recreational boats market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global recreational boats market 2017 - 2021 (USD million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 (USD million)

• 4.3 Product Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Product Type Segment 2017 - 2021 (USD million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (USD million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (USD million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Sailboats - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Sailboats - Market size and forecast 2022-2027 (USD million)
• Exhibit 35: Data Table on Sailboats - Market size and forecast 2022-2027 (USD million)
• Exhibit 36: Chart on Sailboats - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Sailboats - Year-over-year growth 2022-2027 (%)

• 6.4 Personal watercrafts (PWC) - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Personal watercrafts (PWC) - Market size and forecast 2022-2027 (USD million)
• Exhibit 39: Data Table on Personal watercrafts (PWC) - Market size and forecast 2022-2027 (USD million)
• Exhibit 40: Chart on Personal watercrafts (PWC) - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Personal watercrafts (PWC) - Year-over-year growth 2022-2027 (%)

• 6.5 Inflatables - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Inflatables - Market size and forecast 2022-2027 (USD million)
• Exhibit 43: Data Table on Inflatables - Market size and forecast 2022-2027 (USD million)
• Exhibit 44: Chart on Inflatables - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Inflatables - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Type 
• Exhibit 46: Market opportunity by Type (USD million)
• Exhibit 47: Data Table on Market opportunity by Type (USD million)

7 Market Segmentation by Product Type

• 7.1 Market segments
• Exhibit 48: Chart on Product Type - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Product Type - Market share 2022-2027 (%)

• 7.2 Comparison by Product Type 
• Exhibit 50: Chart on Comparison by Product Type
• Exhibit 51: Data Table on Comparison by Product Type

• 7.3 Outboards - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Outboards - Market size and forecast 2022-2027 (USD million)
• Exhibit 53: Data Table on Outboards - Market size and forecast 2022-2027 (USD million)
• Exhibit 54: Chart on Outboards - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Outboards - Year-over-year growth 2022-2027 (%)

• 7.4 Inboard - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Inboard - Market size and forecast 2022-2027 (USD million)
• Exhibit 57: Data Table on Inboard - Market size and forecast 2022-2027 (USD million)
• Exhibit 58: Chart on Inboard - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Inboard - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Product Type 
• Exhibit 60: Market opportunity by Product Type (USD million)
• Exhibit 61: Data Table on Market opportunity by Product Type (USD million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 (USD million)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 (USD million)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 (USD million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 (USD million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 (USD million)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 (USD million)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 (USD million)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 (USD million)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 (USD million)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (USD million)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 (USD million)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 (USD million)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Canada - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Canada - Market size and forecast 2022-2027 (USD million)
• Exhibit 92: Data Table on Canada - Market size and forecast 2022-2027 (USD million)
• Exhibit 93: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.10 Italy - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Italy - Market size and forecast 2022-2027 (USD million)
• Exhibit 96: Data Table on Italy - Market size and forecast 2022-2027 (USD million)
• Exhibit 97: Chart on Italy - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Italy - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027 
• Exhibit 99: Chart on UK - Market size and forecast 2022-2027 (USD million)
• Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 (USD million)
• Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 France - Market size and forecast 2022-2027 
• Exhibit 103: Chart on France - Market size and forecast 2022-2027 (USD million)
• Exhibit 104: Data Table on France - Market size and forecast 2022-2027 (USD million)
• Exhibit 105: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography (USD million)
• Exhibit 108: Data Tables on Market opportunity by geography (USD million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 A. H. Wadia Boat Builders 
• Exhibit 115: A. H. Wadia Boat Builders - Overview
• Exhibit 116: A. H. Wadia Boat Builders - Product / Service
• Exhibit 117: A. H. Wadia Boat Builders - Key offerings

• 12.4 Azimut Benetti SpA
• Exhibit 118: Azimut Benetti SpA - Overview
• Exhibit 119: Azimut Benetti SpA - Product / Service
• Exhibit 120: Azimut Benetti SpA - Key offerings

• 12.5 Baja Marine
• Exhibit 121: Baja Marine - Overview
• Exhibit 122: Baja Marine - Key offerings

• 12.6 Bavaria Yachtbau GmbH 
• Exhibit 123: Bavaria Yachtbau GmbH - Overview
• Exhibit 124: Bavaria Yachtbau GmbH - Product / Service
• Exhibit 125: Bavaria Yachtbau GmbH - Key offerings

• 12.7 Brunswick Corp.
• Exhibit 126: Brunswick Corp. - Overview
• Exhibit 127: Brunswick Corp. - Business segments
• Exhibit 128: Brunswick Corp. - Key offerings
• Exhibit 129: Brunswick Corp. - Segment focus

• 12.8 Christensen Shipyards LLC 
• Exhibit 130: Christensen Shipyards LLC - Overview
• Exhibit 131: Christensen Shipyards LLC - Product / Service
• Exhibit 132: Christensen Shipyards LLC - Key offerings

• 12.9 Damen Shipyards Group 
• Exhibit 133: Damen Shipyards Group - Overview
• Exhibit 134: Damen Shipyards Group - Product / Service
• Exhibit 135: Damen Shipyards Group - Key news
• Exhibit 136: Damen Shipyards Group - Key offerings

• 12.10 Feadship Holland BV
• Exhibit 137: Feadship Holland BV - Overview
• Exhibit 138: Feadship Holland BV - Product / Service
• Exhibit 139: Feadship Holland BV - Key offerings

• 12.11 Great American Marine 
• Exhibit 140: Great American Marine - Overview
• Exhibit 141: Great American Marine - Product / Service
• Exhibit 142: Great American Marine - Key offerings

• 12.12 Groupe Beneteau
• Exhibit 143: Groupe Beneteau - Overview
• Exhibit 144: Groupe Beneteau - Business segments
• Exhibit 145: Groupe Beneteau - Key offerings
• Exhibit 146: Groupe Beneteau - Segment focus

• 12.13 Jettec Jet Boats Ltd. 
• Exhibit 147: Jettec Jet Boats Ltd. - Overview
• Exhibit 148: Jettec Jet Boats Ltd. - Product / Service
• Exhibit 149: Jettec Jet Boats Ltd. - Key offerings

• 12.14 Malibu Boats Inc.
• Exhibit 150: Malibu Boats Inc. - Overview
• Exhibit 151: Malibu Boats Inc. - Business segments
• Exhibit 152: Malibu Boats Inc. - Key offerings
• Exhibit 153: Malibu Boats Inc. - Segment focus

• 12.15 MasterCraft Boat Holdings Inc. 
• Exhibit 154: MasterCraft Boat Holdings Inc. - Overview
• Exhibit 155: MasterCraft Boat Holdings Inc. - Business segments
• Exhibit 156: MasterCraft Boat Holdings Inc. - Key offerings
• Exhibit 157: MasterCraft Boat Holdings Inc. - Segment focus

• 12.16 Shandong Heavy Industry Group Co. Ltd. 
• Exhibit 158: Shandong Heavy Industry Group Co. Ltd. - Overview
• Exhibit 159: Shandong Heavy Industry Group Co. Ltd. - Product / Service
• Exhibit 160: Shandong Heavy Industry Group Co. Ltd. - Key offerings

• 12.17 Yamaha Motor Co. Ltd.
• Exhibit 161: Yamaha Motor Co. Ltd. - Overview
• Exhibit 162: Yamaha Motor Co. Ltd. - Business segments
• Exhibit 163: Yamaha Motor Co. Ltd. - Key news
• Exhibit 164: Yamaha Motor Co. Ltd. - Key offerings
• Exhibit 165: Yamaha Motor Co. Ltd. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 166: Inclusions checklist
• Exhibit 167: Exclusions checklist

• 13.3 Currency conversion rates for USUSD 
• Exhibit 168: Currency conversion rates for USUSD

• 13.4 Research methodology
• Exhibit 169: Research methodology
• Exhibit 170: Validation techniques employed for market sizing
• Exhibit 171: Information sources

• 13.5 List of abbreviations
• Exhibit 172: List of abbreviations

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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