Dublin, March 30, 2022 (GLOBE NEWSWIRE) — The “Recreational Boating Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027” report has been added to from ResearchAndMarkets.com offer.
The global recreational boating market reached a value of US$21.3 billion in 2021. Going forward, the market is expected to reach US$28.8 billion by 2027 growing at a CAGR of 5. 57% in 2022-2027.
Bearing in mind the uncertainties associated with COVID-19, we continuously monitor and assess the direct and indirect influence of the pandemic. This information is included in the report as a major market contributor.
Yachting Market Trends:
One of the major factors propelling the growth of the market is the significant expansion of the nautical tourism industry globally.
Apart from this, the growing attraction for outdoor recreational activities and water sports, especially among millennial and post-millennial populations, is positively influencing the market. It can also be attributed to a wide range of diverse benefits associated with recreational activities, including reduced stress, enhanced personal growth, improved life satisfaction, and improved physical health, self-esteem and autonomy.
Additionally, major market players are introducing electric staff boats for clean and quiet leisure activities. They are also investing in private islands on land that allow cruise lines to offer guests exclusive beach time as an extension of the onboard experience.
This, along with several technological advances in boats and engines to provide a safe and enjoyable experience for individuals around the world, is creating a favorable market. In addition to this, there is an increase in the popularity of sport fishing and motorized water sports, such as sailing, jet-skiing and yachting activities, across the world. This, in conjunction with the growing initiatives undertaken by government agencies in various countries to promote water sports, is expected to boost the market.
Answers to key questions in this report:
- How has the global yachting market behaved so far and how will it behave in the years to come?
- What has been the impact of COVID-19 on the global recreational boating market?
- What are the main regional markets?
- What is the market breakdown by product type?
- What is the breakdown of the market according to the type of activity?
- What is the market breakdown by type of material?
- What is the market breakdown by size?
- What is the market breakdown by energy source?
- What are the different stages of the industry value chain?
- What are the key drivers and challenges in the industry?
- What is the structure of the global yachting market and who are the main players?
- How competitive is the industry?
The competitive landscape of the industry has also been examined along with the profiles of key players
- Baja Bound Insurance Services Inc.
- Brunswick Society
- Catalina Yachts
- Chaparral Boats Inc. (Marine Products Corporation)
- Edenton Boatworks LLC
- Grady-White Boats Inc.
- Hobie CAT Company
- MasterCraft Boat Holdings Inc.
- Maverick Boat Group Inc. (Malibu Boats)
- Polaris Inc.
- White River Marine Group (Bass Pro stores)
- Yamaha Motor Company Limited
Key Market Segmentation:
Breakdown by product type:
- Inboard boats
- Outboard boats
Breakdown by type of activity:
- Water sports and cruising
Breakdown by type of material:
Breakdown by size:
- Less than 30 feet
- 30 to 59 feet
- 60 to 79 feet
- 80 to 99 feet
- More than 100 feet
- Fully personalized
Breakdown by power source:
- Powered by engine
- powered by man
- Propelled by sail
Breakdown by region:
- North America
- United States
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
For more information on this report, visit https://www.researchandmarkets.com/r/740dfb