Recreational boat market is growing at a CAGR of 3% during the forecast period. A recreational boat is a type of watercraft which are specifically designed for near-shore area or inland waterways such as rivers and lakes. A boat can be used for many purposes including fishing, ski/wake surfing, sailing, education & training and so other. The major factor driving the growth of the recreational boat market is the rising disposable income globally. The rise in a number of boats shows and tournaments along with technological developments rising the market growth considerably. However, the high cost of the boat is still a major restraint to the market of the recreational boat in some region. Development of new water routes and new picnic spots is a major opportunity for the market.

Segmental Outlook

The recreational boat market is segmented on the basis of type and power mode. By type, the market is further divided into a cruising boat, fishing boat and water sports boats. Cruising boats are used by the people for relaxing and entertaining on the water. It generally has rooms and some models offer facilities for overnight. Cruising boats include pontoon boat, sailboat, trawler boats, and cabin cruiser boats. Fishing boats have open cockpits which provide more deck space due to which it is easier for fishing. Small boats don’t have much room for seating however, larger boats may have a cabin for overnight trips. Fishing boats include bass boats, center console boats, aluminum fishing boats, walkaround boats. Water Sports boat is specifically designed for fast speed and offer a thrilling ride. It generally has towing capabilities. Water Sports boats include fish & ski boats, wakeboard boats, jet boats, and personal watercraft. Cruising boats are expected to have a major market share during the forecast period. Pontoon boats are among the most popular boats globally.

Global Recreational Boats Market Share by Type, 2018 (%)

By power mode, the market is segmented into engine powered, sail-powered and human-powered. Sail powered boats sail by the use of wind. They range from lightweight dinghies to mega-yachts over 200 feet long. Earlier, they are used with significant rate however, now they are mostly used for racing and fishing purpose. Trimarans, Catamarans, and Ketches are some of the common sail-powered boats. Human-powered boats are mostly small in size and manufactured for sports activity. Dinghies and Kayaks are some common types of human-powered boats. Powerboat is expected to be the largest segment during the forecast period. It is due to speed provided by the engines, no restriction of size compared to human-powered boat and availability of different types of boats. Engine-powered boats include Bass Boat, Bay Boat, Bowrider, Convertible, Jet Boat, Ski Boat, Pontoon Boat and so on.

Regional Outlook

On the basis of geography, the global recreational boat market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America is expected to be the major market globally. As per the National Marine Manufacturers Association, an estimated 262,000 new powerboats were sold in 2017, with an increase of 4.7% compared to 2016. There were around 12 million registered boat in the US, out of which 95% of boats are small under 26 feet. In 2017, the total recreational marine expenditures reached $39 billion, 6.5% higher from 2016. Europe is also one of the considerable markets in the recreational boat industry. However, the market is fragmented in the region. As European Boating Industry, about 97% of the boating industry is small and medium-sized enterprises. There are about 3,000 companies in the boating industry. Around 48 million people in Europe participate in recreational marine activities out of this 36 million are boaters. There are more than 6 million boats in Europe.

Global Recreational Boat Market Growth, by Region 2019-2025

Significant market potential in Asia-Pacific

Asia-Pacific is expected to have a significant potential during the forecast period. Countries such as India and China is expected to provide significant market growth to the market. China is expected to be a major player in the region. The Indian market is not well-developed however, it is expected to show a significant growth rate due to increasing recreational activities at the beaches. Countries such as Brazil, South Africa, and Argentina are expected to provide a considerable share to the rest of the World.

Market Players Outlook

The major players that contribute to the growth of the global recreational boat market include White River Marine Group, Yamaha Motor Co., Ltd., Marine Product Corp., Lund Boat Company Inc., Brunswick Corp., and Kawasaki Motors Corp. These players are significantly contributing to the market growth and adopting various strategies such as new product launch, acquisition, merger, collaborations, and technological advancements to stay competitive in the market.

Major Activities

• In July 2019, MarineMax acquired Fraser Yachts Group from Azimut Benetti Group, an Italy based company. The aim of the acquisition was to increases the company’s portfolio of superyacht category.
• In January 2019, Prestige yachts demonstrated DockSense technology. It is an assisted docking system for automation and simplification of boat docking.
• In December 2018, Ranger Boats, a subsidiary of Fishing Holdings, LLC introduced new Ranger Reata 223FC and 220FC. The boats have feature for both cruising and fishing. The boat measures 24 feet in overall length and 102 inches across.
• In December 2018, Groupe Beneteau completed the acquisition of Delphia Yachts Kot sp. j. The company acquired designing, building, and marketing sailing and motor yachts under the Delphia Yachts and Maxi Yachts brands.
• In May 2018 Polaris Industries announced to acquire Boat Holdings for $805 million. Polaris Industries is a manufacturer of snowmobile, off-road vehicles and motorcycles. The aim of the acquisition to expand its boat portfolio.

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global recreational boat market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.