Amid the COVID-19 crisis, the global market for Leisure Boats estimated at US$38.4 Billion in the year 2020, is projected to reach a revised size of US$46.7 Billion by 2027, growing at a CAGR of 2.9% over the period 2020-2027. Motorized/Power Boats, one of the segments analyzed in the report, is projected to record 3.1% CAGR and reach US$28.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Motorized Boats segment is readjusted to a revised 2.5% CAGR for the next 7-year period.
The Leisure Boats market in the U.S. is estimated at US$10.4 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$9.5 Billion by the year 2027 trailing a CAGR of 5.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.7% and 2.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.3% CAGR.
This report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
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